Wearable and smart devices to drive wirelss sensor market

June 26, 2017 //By Jean-Pierre Joosting
Research and Markets in its latest report contends that 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.

Factors that are driving the WSN market according to the firm are an increasing need for remote monitoring of equipment, growing market for wearable and smart devices, and advancements in connectivity technologies.

Data collection or remote monitoring software are key to WSNs. Software is required more and more to meet the interoperability challenges that arise due to varied heterogeneous devices, and to manage a large volume of data and their security and privacy. Factors such as increasing number of connected devices and rising need for remote monitoring have led to the growing adoption of software systems.

Ambient light sensors have a wide range of applications in industries such as automotive, retail, wearable devices, and building automation. Due to the extensive usage of these sensors in building automation, ambient light sensors held the largest share of the wireless sensor network market in 2016.

In comparison to other wireless connectivity technologies, NFC is a customized technology as it combines the interface of a reader and a smartcard into a single device. It enables two-way interactions between electronic devices, especially smartphones, allowing users to access digital content, make contactless payment transactions, and connect and share information between IoT-enabled electronic devices.

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