According to a new technical market research report, Global Markets AND Technologies for Wireless Sensors (IAS019A) from BCC Research, the global market for wireless sensor devices was valued at $790 million in 2011 and is expected to increase to $4.7 billion in 2016, a five-year compound annual growth rate (CAGR) of 43.1%.
The global market for wireless sensor devices can be separated into six segments: industrial installations, residential automation and energy management, medicine, logistics and transport, ecology and agriculture, and defense and surveillance.
Industrial installations is the largest segment, comprising about half of the total market. Worth $369 million in 2011, the segment is expected to increase at a CAGR of 46% to reach $2.4 billion in 2016.
The next largest segment is residential automation and energy management, about a quarter of the total market. Worth $244 million in 2011, the segment is expected to increase at a CAGR of 35.5% to reach $1.1 billion in 2016.
The remaining segments make up the last quarter of the wireless sensor market, all of which are expected to increase at CAGRs of 45% to 46%. Wireless sensor devices connect sensors wirelessly among each other as well as to monitoring and management setups. While the sensing principles are consistent with that of wireline sensors, wireless sensors have the challenge of operating with an attractive form and with robust power management.
In most cases, wireless sensors beat their wireline counterparts hands down in the following aspects: physical reach, time to roll out and install, pricing, and suitability in harsh operating environments.
This report will be valuable to many industry participants, including the following: wireless chipset makers, sensor original equipment manufacturers (OEMs), sensor end users and distributors, energy harvesting specialists, systems integrators, intellectual property owners of sensing and energy harvesting technology, and financial institutions.