Global Wireless Sensor Network Market to Surge at 18.55% CAGR to 2023, Predicts M&M in Is New Report Available at MarketPublishers.com
12 Jul 2017 • by Natalie Aster
LONDON – As of 2016, the world market for wireless sensor network (WSN) was estimated at USD 29.06 billion. By 2023, the market is projected to amount to USD 93.86 billion, demonstrating an impressive 18.55% CAGR from 2017 till 2023.
Factors contributing to the market growth comprise, amid others, the development and adoption of cheaper and smaller sensors, uptake in the smart and wearable devices market, surging demand for real-time computing of applications, and rising demand for IoT sensors across different applications. Yet, the world’s WSN market growth could be restrained by some factors, for instance, enhancing concerns of privacy and security of network platforms and poor standardization of protocols for devices.
The mammoth share of the WSN market was captured by ambient light sensors in 2016; this is attributed to the enhanced usage of these sensors in the building automation sector that witnesses sustainable growth.
Regionally, the highest growth pace is anticipated to be observed in the APAC WSN market over 2017-2023.
New research report by MarketsandMarkets (M&M), titled “Wireless Sensor Network Market by Offering, Sensor Type, Connectivity Type, End-user Industry, and Region - Global Forecast to 2023”, provides a profound insight into the market environment. It offers detailed market segmentation analysis based on offerings, sensor types, connectivity types, applications and regions. The report gives a close look at the market performance and provides access to the relevant information on the market dynamics, key market growth drivers, restraints, hinders, challenges, current and future trends, and lucrative opportunities. Besides, forecasts for the overall market and each of its segments for 2017-2023 are available in this cutting-edge research report. Additionally, the publication focuses on the competitive scenario, profiles the leading market participants and discusses the hottest issues and the most important aspects.
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