According to our report on the title the Battery-Free Sensors Market is expected to reach over by 2028, growing at a CAGR of over 2022 to 2028. Increase in the market for thin sleek electronic gadgets throughout enterprise verticals like healthcare, and industrial to reduce of function and better control of devices, rise in need for wireless sensing devices because of instantaneous digitization, are the primary factors of the battery-free wireless sensor market. The various advantages offered by sensors contain simple persistent monitoring of physiological health in the healthcare sector. Also, they are used for wellness tracking, attention and cognitive state examination, and human-machine plat. Thus, a wide spectrum of applications in healthcare influences the prevailing demand in the battery-free wireless sensor market.
- The temperature sensors segment is projected to expand at substantial CAGR over the forecast period owing to the increasing adoption of their benefits, like prediction and deterrence of equipment failure by devising the performance and efficiency of machine and equipment at low maintenance price.
- The automotive segment held a significant market share in 2021. This share is due to the rising investments due to ongoing industrialization, increased usage of predictive maintenance solutions, and increasing competitive pressure to attain operational efficiency.
- is expected to grow at the fastest CAGR from 2022 to 2028. This surge is attributed to the rising demand for the Battery-Free Sensors Market in developing economies such as China and India.
Some of the key players in the Battery-Free Sensors Market include, .
Meaningful technical developments have resulted in a significant reduction in the size of various types of sensors. The use of RFID technology rather than a battery has allowed manufacturers to reduce the size of detectors to a significant extent. Sensors with a small form element were rapidly established in devices such as smartphones, drones, wearables, and robots.
North America is expected to hold a significant share owing to the increasing demand in countries, such as the U.S., Canada, and Mexico. The low price and favorably reliable sensors have directed to the improved service of sensing technologies in IoT applications. The price of sensors utilized in IoT devices was increased. Sensor technology has developed, and its price declined and is rapidly being used in IoT devices.
COVID Impact Analysis
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Battery-free Sensors Market. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online.
Recent Developments: -
Jul 2016 - Everactive, a technology corporation that deals with category-defining battery-less, wireless Internet of Things (IoT) solutions, disclosed a new era of its Steam Trap Monitoring (STM) system developed to provide predictive maintenance for large-scale steam systems applications.