SAN FRANCISCO, May 6, 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: 4501
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 $15.2 Billion by 2027
Amid the COVID-19 crisis, the global market for Wireless Sensors estimated at US$5.4 Billion in the year 2020, is projected to reach a revised size of US$15.2 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 record a 18.9% CAGR and reach US$5.7 Billion by the end of the analysis period. After an early 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.
The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 21% CAGR
The Wireless Sensors market in the U.S. is estimated at US$1.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.5 Billion by the year 2027 trailing a CAGR of 20.6% over the analysis period 2020 to 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.
Zigbee Segment to Record 14.8% CAGR
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$802 Million in the year 2020 will reach a projected size of US$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$2.1 Billion by the year 2027, while Latin America will expand at a 16.1% CAGR through the analysis period.
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