Wireless Flow Sensors Market Size, Growth, Opportunity and Forecast Till 2022-2031

Wireless Flow Sensors Market size, share, growth, trends, segmentation, top key players, strategies, development status, major application, demand, statistics, competitive landscape and forecast.

Market Overview

The wireless flow sensors market was valued at USD 0.72 billion in 2019 and is expected to reach a value of USD 2.95  billion by 2025, projecting a CAGR of 27.07%, during the forecast period. With a lot of innovation and modern technologies such as Coriolis, ultrasonic, magnetic, and vortex flow sensors are a significant competition to traditional measurement technologies, these advanced technologies have also witnessed competition among themselves. Each technique has its pro and cons that make it suited for a specific application.

– The revival of the oil & gas and the expanding infrastructure in the water & wastewater industry are likely to drive growth in the medium to long term. Growth opportunities are opening in developing economies, such as China and India that have developed their oil and gas and chemical industries.
– The increasing quest for new energy sources, renewable energy development, government regulations, and rapid technological advancements are the key drivers which are making the wireless flow sensors market to grow with a boom.
– The wireless flow sensors market is being hindered by the maturity of the end-user segment and environmental impact on sensors. Manufacturers are investing in R&D activities, as accuracy and reliability are primary product selection criteria. Moreover, industry participants emphasize on product differentiation to avoid price competition.

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Scope of the Report

Wireless flow sensor comprises of the flow sensor, RF transmitter, and RF receiver. Nowadays, installation doesn’t require expensive drilling, trenching,  or digging, to install power or Input/Output wiring.   Active and passive safety sensors have witnessed significant growth due to the need for accident mitigation systems, in the automotive sector. Emission of hazardous gases has led rules and regulation for emission control and resulted in the monitoring for the concentration of exhaust gases.

Key Market Trends

Increasing Adoption of Wireless Technologies to Drive the Market Growth

– Wireless sensors are proving to be advantageous over wireline, with a wider range of features and compatibility, and faster response and lower power consumption. Growing investments by leading players and demand for wireless technologies from end-user industries are supporting the market.
– With a growing number of companies moving toward wireless, the production costs are also declining, thereby enabling wider consumption in the market. However, lack of awareness and capital in developing markets and strong foothold of wireline sensors in traditional markets, are acting as restraints to the growth of wireless sensors, with many consumers being skeptical over the adoption of new technologies.
– Moreover, the increasing adoption of Wi-Fi, WLAN  across the globe is driving the wireless sensor market.

North America to Hold a Significant Market Share

– The United States is the largest consumer of wireless flow sensors in North America. Wireless flow sensors occupy a major share in the United States with significant demand from the water and wastewater industry.
– The market in the United States region is driven by technology with consumers preferring products offering the latest technology with reliable performance. Thus, flow meters are becoming extremely popular among the end-users in this country.
– Huge investments and legislative initiatives on wireless technology in countries such as the United States and Canada have fuelled the market growth in the North American region. Moreover, the augmentation of WSN (wireless sensor network) in the region is expected to bolster the market demand for these sensors.
– With many large companies being established players in the market, the United States remains one of the prominent regions for wireless flow sensors market in the globe.

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Competitive Landscape

The wireless flow sensors market is fragmented. The market is dominated by major players. Constant innovation and development with the absence of technological standardization are making the market competitive. Some of the key players include Texas Instruments Incorporated, Honeywell International Inc., ABB Ltd., Siemens AG, Panasonic Corporation, General Electric, Emerson Electric Company, Analog Devices Inc., STMicroelectronics, Microchip Technology Incorporated, among others.

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