Battery-free Sensors Market
Battery-free Sensors Market - Global Industry Assessment & Forecast
- By Sensor Type Temperature Sensors, Humidity/Moisture Sensors, Pressure Sensors, Others
- By Industry Automotive, Logistics, Healthcare, Food & Beverages, Others
- By Region North America, Europe, Asia Pacific, Middle East & Africa, Latin America
|Forecast Years:||2023 - 2030|
|Historical Years:||2017 - 2021|
|Revenue 2022:||USD 38.55 Billon|
|Revenue 2030:||USD 286.58 Billon|
|Revenue CAGR (2023 - 2030):||28.50%|
|Fastest Growing Region (2023 - 2030)||Asia Pacific|
|Largest Region (2022):||North America|
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Battery-free Sensors Market: By Sensor Type, Frequency, Industry, and Region
Global Battery-free Sensors market is valued at USD 38.55 Billon in 2022 and is projected to attain a value of USD 286.58 Billon by 2030 at a CAGR of 28.50% during the forecast period, 2022–2028. The prices of wireless sensors have dropped in recent years, and this has promoted the adoption of battery-free devices into diversified industries. The recent advent of various smart technologies is expected to increase demand for Battery-free Sensors going forward. With the number of wireless sensors increasing exponentially over the past few decades, there exists immense potential for improvement in quality of life through their use across different industry verticals. With the prices having dropped significantly over the past few years, there has been higher uptake of sensors that run on batteries. However, m any battery-powered sensors contain high amounts of metals such as lead which eventually affect the environment adversely when they are disposed off after use.
Battery-free Sensors Market Size, 2022 To 2030 (USD )
Growing Adoption of IoT to Drive Growth of Battery-free Sensors Market
The growing adoption of Battery-free Sensors in IoT applications is driven by their ability to reduce operational and maintenance costs. For example, key parameters for quality control (QC) of manufacturing machinery are temperature, humidity, pressure, vibration and flow rate, which requires battery-free wireless sensors that can be installed on the production line without having to change the mechanisms or settings that were already calibrated.
The growth of the Internet of Things (IoT) has fueled demand for intelligent wireless sensor networks (WSNs). There will be more than one trillion battery-powered devices connected to IoT applications by 2028. This number includes various categories such as mobile phones, wearable devices, medical implants and environmental monitoring sensors.
The global Battery-free Sensors market is segmented into sensor type, frequency, industry, and region. On the basis of sensor type, the market is segmented into temperature sensors, humidity/moisture sensors, pressure sensors, and others. Based on industry, market is segmented into automotive, logistics, healthcare, food & beverages, and others.
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Automotive and Healthcare Sector to Remain the Key Contributors to the Battery-free Sensors Market
The Automotive sector is likely to be the early adopter of wireless Smart Sensor systems as it involves high risks which necessitates stringent safety measures. For instance, Intelligent Transportation System (ITS) requires wearable sensors that do not use energy storage medium such as batteries, therefore; these sensors will be used in ITS applications first. Later on, other automotive applications will follow suit where Battery-free Sensors will find application in body monitoring, driver assistance system (DAS), tire pressure monitoring system (TPMS) etc.
The healthcare sector offers huge opportunity for smart wireless sensor technology owing to the fact that wireless technology has the potential to drastically reduce healthcare costs. The sensor systems in healthcare can be broadly classified into noninvasive sensors and implantable sensors. Noninvasive Battery-free Sensors are widely used for monitoring vital signs such as blood pressure, respiratory rate, etc., while implantable sensors are used for cardiac pacemakers, deep brain stimulators, cochlear implants, etc. Most of these sensor devices will not require any external power supply because they generate their own energy through kinetic motion or mechanical deformation (strain).
Asia Pacific to Dominate Battery-free Sensors Market
The Asia Pacific region has been identified as the largest market for battery free sensors with a CAGR of over 35% between 2021 and 2028. The reports states that the adoption of Battery-free Sensors in this region is driven by factors such as new product development, stringent quality standards and accurate real time data availability. Another key factor which contributes to this growth is improvement in technology and architecture of these devices. For instance, companies embedding BFSI enabled technologies track shipments at every state of their journey through a unique code embedded into the item being shipped thereby assuring customers about its integrity. Similarly, companies using NFC ( Near Field Communication) can also provide information about their products – right from authenticity – by just scanning a tag or card attached to the product. The Battery-free Sensors solutions provide all this and more with accuracy and reliability. The size, cost and mobility of such devices add immense value to customers.
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) are some of the key players in the global Battery-free Sensors market.
The Battery-free Sensors is Segmented as Follows:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Question
What is the global demand for Battery-free Sensors in terms of revenue?
The global Battery-free Sensors valued at USD 38.55 Billon in 2022 and is expected to reach USD 286.58 Billon in 2030 growing at a CAGR of 28.50%.
Which are the prominent players in the market?
The prominent players in the market are 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) .
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 28.50% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
The driving factors of the Battery-free Sensors include
- Automotive and Healthcare Sector to Remain the Key Contributors to the Battery-free Sensor Market
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Battery-free Sensors in 2022.