Global Battery-Free Sensors Market Has Resumed to Grow over Forecast Period
Global Battery-Free Sensors Market is estimated to reach USD USD 30.8 Billon million in 2021 and is further projected to reach USD USD 175.2 Billon million by the year 2028, growing at a CAGR of 28.8% in the forecast period. Battery-free sensors are widely used to measure temperature, gauge distance, smoke detection, pressure control, etc. Having battery-free sensors proves to be beneficial in many industries. For example, in the transportation industry, battery-free sensors make it possible to track inventory more efficiently, reducing the risk of material loss during transport. These sensors are powered by electric waves, which they receive from connected devices, rather than from external power. Unlike battery-powered devices, these sensors have very low power requirements because they can convert waves into energy to power themselves.
With the rapid development of technology, battery-free sensors are increasingly being used in IoT systems to improve production efficiency and reduce operating and repair costs after COVID-19. In addition, the gradual development of medical and electronic equipment and the growing implementation of automated monitoring systems in smart factories are expected to boost the growth of the battery-free sensor market during forecasting. The development of less expensive and more reliable sensors has led to an increase in the use of sensory technology in IoT systems. Initially, the cost of sensors used on the IoT device was high; therefore, their acquisition was limited only to a few industries, such as consumer electronics. However, over the past decade, sensory technology has emerged, and their product costs have doubled. Therefore, sensors are increasingly used on IoT devices. Currently, battery-free sensors are used in almost all applications, be it health care, automotive, consumer electronics, or retail.
Battery-free sensors are integrated with RFID tags to transmit tracked, monitored, and monitored data to operators. The data generated is in large volumes. For example, in a data center, tracking assets, such as servers, tapes, media, routers, and other devices, produces terabytes of data in a single day. Therefore, managing data that continues to grow rapidly is a major challenge for companies. If this data is not handled carefully, an additional problem loading on servers or low storage capacity may occur.
Based on frequencies, the global market for battery-free sensors is divided into low frequency, high frequency, and ultra-high frequency. Based on the types of sensors, the global battery-free sensor market is divided into temperature sensors, humidity sensors, pressure sensors, movement and position sensors, light sensors, and other sensors. Temperature sensors have the largest market share between these segments.
The Asia Pacific battery free sensor market is expected to grow at the highest CAGR during 2022-2028. Industrial development, increased adoption of predictable correction tools, and increased competitive pressure to achieve efficiency are boosting market growth in the region. The expansion of production activities resulting from the migration of production bases to countries from Asia Pacific region, such as China, India, and South Korea at low labor costs, drives the need for battery-free sensors in the region. However, the outbreak of COVID-19 had an impact on the production facilities of all verticals worldwide, forcing them to shut down. Although, production has resumed in a few places in China, thus initiating the production of essential products.
The key battery free sensor market players have used a variety of organic and inorganic growth techniques, such as product launch, product development, relationships, and collaborations to strengthen their market offerings Farsens (Spain), ON Semiconductor (UK), Axzon (Rfmicron) (US), Phase IV Engineering (US), Inductosense (UK), Powercast (US), EnOcean (Germany), Distech Controls (US), Everactive (US) and DCO Systems (UK) .
Browse the full Report - Battery-free Sensors Market by Sensor Type (Temperature Sensors, Humidity/Moisture Sensors, Pressure Sensors, Others), by Industry (Automotive, Logistics, Healthcare, Food & Beverages), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)