Market Leader - Wireless Sensor Network Market
The wireless sensor network (WSN) market was valued at USD 29.06 Billion in 2016 and is expected to reach USD 93.86 Billion by 2023, at a CAGR of 18.55% between 2017 and 2023. The major factors driving the growth of the WSN market include the increasing need for remote monitoring of equipment, advancement in wireless connectivity technologies, and growing market for smart devices and wearable devices.
The companies operating in the WSN market have adopted strategies such as product launches, mergers & acquisitions, and partnerships, alliances, agreements, collaborations, joint ventures, and expansions between 2014 and 2017 to grow in the market. Product launches accounted for a share of 55.2% of the overall developments carried out in the market between 2014 and 2017; mergers & acquisitions accounted for 19.4%; and partnerships, alliances, agreements, collaborations, joint ventures, and expansions, collectively, accounted for a share of 25.4% of the overall developments carried out in the market during the same period.
Texas Instruments Inc. held the second position in the wireless sensor network market for nodes in 2016. The company offers sensors under its Analog segment. Its sensors portfolio comprises temperature sensors (IR thermopile temperature sensors and local temperature sensors), analog output, digital output, remote temperature sensors, thermostat/temperature switches, humidity sensors, optical sensors, light sensors, and gas/chemical sensors. Product launch is a major strategy adopted by the company to grow in the wireless sensor network. For instance, it launched a sensor interface with integrated power supply, exciter amplifier, and functional safety features. The company also introduced the new Simple Link Bluetooth low-energy CC2540T, which is a highly reliable and low-power wireless microcontroller (MCU). It offers an extended temperature range of -40°C to 125°C and USB connectivity for industrial applications.
Intel Corporation (US) led the wireless sensor network market for gateways in 2016. The company offers various IoT gateways to cater to the connected home, industrial, transportation, energy, and other sectors. Intel Corporation is focused on driving intelligence in new devices and aims to connect billions of existing devices with the help of gateways. Product launches and acquisitions are the major strategies adopted by the company to grow in the wireless sensor network market. For instance, the company has acquired Lantiq (Germany), a leading supplier of broadband access and home networking technologies. This acquisition has helped it expand its offerings in numerous gateway markets such as fiber, retail, and digital subscriber line (DSL). The company has also launched the Intel gateway solutions for IoT. These solutions, which are based on Intel Quark SoC X1000 Series and Atom processors, help in connecting edge devices to the cloud. The gateway is best suited for transportation, manufacturing, and energy market spaces, among others.
Related Reports:
Wireless Sensor Network Market by Offering (Hardware, Software, Services), Sensor Type, Connectivity Type, End-user Industry (Building Automation, Wearable Devices, Healthcare, Automotive & Transportation, Industrial), and Region - Global Forecast to 2023
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