SAN FRANCISCO, May 20, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Wireless Sensors - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 16; Released: May 2021
Executive Engagements: 10183
Companies: 185 - Players covered include ABB Ltd.; Emerson Electric Company; Endress+Hauser AG; General Electric Company; Honeywell Sensing and Control; Rockwell Automation, Inc.; Schneider Electric SA; Siemens AG; STMicroelectronics NV; Texas Instruments, Inc.; Yokogawa Electric Corporation and Others.
Coverage: All major geographies and key segments
Segments: Technology (Bluetooth, WiFi & WLAN, Zigbee, WirelessHART, Other Technologies); End-Use (Industrial, Medical, Energy, Defense, Agriculture, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Wireless Sensors Market to Reach US$16.4 Billion by 2027
Amid the COVID-19 crisis, the global market for Wireless Sensors estimated at US$5.8 Billion in the year 2020, is projected to reach a revised size of US$16.4 Billion by 2027, growing at a CAGR of 15.9% over the analysis period 2020-2027.Bluetooth, one of the segments analyzed in the report, is projected to grow at a 18.9% CAGR to reach US$6.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the WiFi & WLAN segment is readjusted to a revised 13.9% CAGR for the next 7-year period. This segment currently accounts for a 23.5% share of the global Wireless Sensors market.
The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 21% CAGR for the Period of 2020-2027
The Wireless Sensors market in the U.S. is estimated at US$1.6 Billion in the year 2020. The country currently accounts for a 26.96% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$3.8 Billion in the year 2027 trailing a CAGR of 20.6% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.9% and 14.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 13.8% CAGR while Rest of European market (as defined in the study) will reach US$3.8 Billion by the year 2027.
Zigbee Segment Corners a 19.7% Share in 2020
In the global Zigbee segment, USA, Canada, Japan, China and Europe will drive the 14.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$865.4 Million in the year 2020 will reach a projected size of US$2.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.3 Billion by the year 2027, while Latin America will expand at a 16.1% CAGR through the analysis period. More
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