Artificial Intelligence
Wireless Sensor Network Global Market Report 2023
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New York, March 08, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Wireless Sensor Network Global Market Report 2023” – https://www.reportlinker.com/p06319499/?utm_source=GNW
, Cisco Systems Inc., Texas Instruments Incorporated, TE Connectivity, Yokogawa Electric Corporation, Radiocrafts AS, Silicon Laboratories, Parker Hannifin Corp, Huawei Technologies Co Ltd., Advantech Co Ltd and Eurotech.
The global wireless sensor network market grew from $75.54 billion in 2022 to $88.76 billion in 2023 at a compound annual growth rate (CAGR) of 17.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The wireless sensor network market is expected to grow to $172.14 billion in 2027 at a CAGR of 18.0%.
The wireless sensor network market consists of revenues earned by entities by providing wireless sensor network solutions and services such as target tracking, control, and monitoring, node location, synchronization, and effective routing between nodes and base stations to enhance the collection, process, and transfer of data in an organization.The market value includes the value of related goods sold by the service provider or included within the service offering.
The wireless sensor network market also includes sales of sensing units, processing units, communication units, and power units.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The wireless sensor network refer to a wireless system with wireless infrastructure deployed in a large number across various verticals.It is a network of small devices called sensors that communicate wirelessly among themselves in an ad-hoc manner.
Wireless sensor networks can monitor the system and physical or environmental conditions. It is a spatially distributed sensor network that sends information to the sink node, then transfers it to the end-user.
North America was the largest region in the wireless sensor network market in 2022. The regions covered in the wireless sensor network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components in the wireless sensor network market are hardware, software and services.The wireless sensor network hardware refer to physical components used in a wireless sensor network.
The hardware components of a wireless sensor network include a processing unit, a transceiver unit, a sensing unit, and a power unit.These components work together to perform the desired action.
The various types of sensors include ambient light sensors, motion and position sensors, temperature sensors, heart rate sensors, pressure sensors, IMUS (6-axis, 9-axis), accelerometers (3-axis), blood glucose sensors, image sensors, humidity sensors, carbon monoxide sensors, blood oxygen sensors, flow sensors, level sensors, chemical sensors, ECG sensors and others (MRR, ultrasonic sensors, vehicle detection sensors, pedestrian presence sensors, speed sensors, soil moisture sensors).The different wireless sensor network connectivity type include WI-FI, Bluetooth, Bluetooth/WLAN, cellular network, GPS/GNSS module, Bluetooth smart/BLE, Zigbee, NFC, WHART, ISA100 and ANT+.
The end-users for wireless sensor networks include building automation, wearable devices, healthcare, industrial, automotive and transportation, oil and gas, retail, agriculture, aerospace and defense and BFSI.
The increasing demand for smart consumer devices is expected to propel the growth of the wireless sensor network market.The demand for smart consumer devices is growing due to comfort, convenience, ease of use, automation, affordability, security, and other reasons that make people’s lives better.
This increasing demand for smart consumer devices will create demand for the wireless sensor network as it is one of the technologies used to make consumer devices smart and intelligent by using IoT and automation.The wireless sensor networks address needs such as remote home monitoring and the general public’s growing concern about safety, security, and convenience.
For instance, according to a survey by Oberlo, a Lithuania-based software company, in 2022, nearly 57.4 million US households are actively using smart home devices, which is a 6.7% increase than in 2021, during which 53.8 million households were using smart home devices. Thus, the increasing demand for smart consumer devices will drive the growth of the wireless sensor network market.
Innovation in sensor technologies is a key trend gaining popularity in the wireless sensor network market.The use of sensor proliferation, sensor fusion, magnetic, radar, and Bluetooth technologies along with artificial intelligence (AI) continues to accelerate innovation as it improves IoT security, and sensor proximity making it safer to transmit critical data.
This improves remote operation capabilities while incorporating sensors into devices to reduce costs and improve performance.Major companies operating in the wireless sensor network market are focused on providing innovative wireless sensors to strengthen their market position.
For instance, In September 2020, Eleven-X, a Canadian information technology company specializing in wireless technology and connectivity, introduced its innovative, wireless, real-time smart parking sensor, SPS-X.It uses a LoRaWAN-based (long-range wide area network) sensor with a combination of magnetic, radar, and Bluetooth technologies in addition to cloud-based AI for reliable, real-time guidance to available spaces, space usage, and time of usage information.
This sensor is helpful for municipalities, campuses, and parking organizations to monitor parking occupancy and understand parking usage.
In March 2020, TE Connectivity Ltd., a Swiss manufacturer of sensors and connectors acquired First Sensor AG for an undisclosed amount. With this acquisition, TE Connectivity expands its operations with optical sensing applications for heavy truck, auto, and industrial uses as well as further expand its capabilities. First Sensor AG is a German manufacturer of sensor and wireless network products across various medical, transportation, and other industries.
The countries covered in the wireless sensor network market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The wireless sensor network market research report is one of a series of new reports that provides wireless sensor network market statistics, including wireless sensor network industry global market size, regional shares, competitors with a wireless sensor network market share, detailed wireless sensor network market segments, market trends and opportunities, and any further data you may need to thrive in the wireless sensor network industry. This wireless sensor network market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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Artificial Intelligence
Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services
LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation.
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Artificial Intelligence
LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
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Artificial Intelligence
Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup
HONG KONG, June 14, 2024 /PRNewswire/ — Football fans are in for a treat as they gear up for UEFA EURO 2024™ with Toshiba TV’s top-performing Gaming TV Z670. As the OFFICIAL TV OF UEFA EURO 2024™, Toshiba TVs present immersive viewing of the football game by their AI-powered TV lineup. To celebrate the brilliant moments it can bring, Toshiba TV are gifting USD100 Amazon Gift Card via their social platform! By simply like, follow and comment on @ToshibaTVGlobal, fans can boost their chances of scoring this prize.
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