Battery-Free Sensor Market Outlook – 2030
The global battery-free sensor market share was valued at $27.82 million in 2020, and is projected to reach $277.06 million by 2030, registering a CAGR of 26.0% from 2021 to 2030. Battery-free sensors are sensors that are used for measuring, monitoring, and recording parameters such as measuring humidity, temperature, heat losses, and more. Basically, battery-free sensors provide temperature and strain measurements. Battery-free sensors are widely used in different industries, smart homes, and consumer electronics.
Battery-free sensors work on the principle of radio frequency. In the coming years, the battery-free sensors industry is expected to generate moderate revenue with investments in development, research, and tests. However, the battery-free sensors market is reaching its maturing stage, and is expected to generate modest revenue for key players in the coming years.
Factors such as surge in government initiatives to promote smart city project and rise in usage of battery-free sensors and wireless battery free sensor in industrial applications to cut down operational expenses are expected to drive growth of the battery-free sensor market in the future. However, increased data security concerns acts as major barrier and hampers the market growth.
Furthermore, factors such as growth in adoption of battery-free sensors in healthcare sector for continuous monitoring and surge in demand for battery free sensor in automotive sector to increase efficiency & productivity are expected to offer lucrative opportunities for the growth of the battery-free sensor market.
By Frequency
Ultra High Frequency segment projected to be the most lucrative segment
Segment Overview
The battery-free sensor market is analyzed by frequency, sensor type, end user, and region. By frequency, the market is divided into low frequency, high frequency, and ultra-high frequency. By sensor type, it is divided into temperature sensor, humidity/moisture sensor, pressure sensor, and others. By end user, the market is divided into automotive, healthcare, logistic, IT & telecommunication, and others. By region, the battery-free sensor market is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with its prominent countries.
By Sensor Type
Temperature Sensor segment will generate the highest revenue during the forecast period
Competitive Analysis
The key players profiled in the report include Texas Instruments, ON Semiconductors, Farsens, Inductosense, Advantech, Powercast, Infineon Technologies, Axzon, General Electric, and EnOcean GmbH. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration and strengthen their foothold in the industry.
By End User
Automotive segment will dominate the market throughout the forecast period
COVID-19 Impact Analysis
The ongoing spread of COVID-19 has become one of the biggest threats to the global economy and is causing widespread concerns and economic hardship for consumers, businesses, and communities across the globe. The “new normal” that includes social distancing and working from home has created challenges with daily activities, regular work, needs & supplies, causing delayed initiatives, and missed opportunities.
The COVID-19 pandemic has impacted the society and overall economy across the globe. The impact of this outbreak is growing day-by-day and affecting the supply chain. This has created uncertainty in the stock market; decreased business confidence, slowed supply chain, and increased panic among customers.
By Region
Asia-Pacific region would exhibit the highest CAGR of 27.4% during 2021 - 2030
European countries under lockdown have suffered a major loss of business and revenue due to shutdown of manufacturing units in the region. Operations of production and manufacturing industries were heavily impacted by the outbreak of COVID-19, which led to slowdown in growth of the battery-free sensor industry in 2020.
According to the battery-free sensor market trends, the COVID-19 pandemic has severely impacted the global manufacturing and industrial sectors as production facilities have stalled, which, in turn, led to significant demand in industries.
Emergence of COVID-19 declined growth of the battery-free sensor market in 2020, and is estimated to witness slow growth till the end of 2021. Implementation of partial or complete lockdown across various countries globally is the prime reason for decline in growth rate of the market. As industries were temporarily shut, it reduced the need for maintenance from various industries.
Top Impacting Factors
Notable factors positively affecting the battery-free sensor market include increased governments initiatives to promote smart city project and rise in use of battery-free sensors in industrial applications to cut down operational expenses. However, increased data security concerns hamper the market growth. Furthermore, factors such as growth in adoption of battery-free sensors in healthcare sector for continuous monitoring and increased demand for battery free sensor in automotive sector to increase efficiency & productivity are expected to offer lucrative opportunities for the market growth in coming years.
Increase in Governments Initiatives to Promote Smart City Project
Reduction in energy consumption and concern over the proliferation of battery-free wastes are major driving factors for promoting the smart city projects. Moreover, increasing concerns over global warming and ozone depletion have accelerated the efforts of governments of developed and developing countries to control their carbon footprint, with governments imposing stricter regulations to limit emissions in environment.
The implementation of intelligent infrastructure automation, smart grids, and controlling systems contribute significantly toward reducing power consumption and carbon emissions, which minimizes losses & optimizes operations. The purpose of the smart cities mission is to drive economic growth and improve the quality of life of people by enabling local area development and harnessing technology, especially technology that leads to smart outcomes. These factors are anticipated to drive the growth of the battery-free sensor market.
Increasing Data Security Concerns
Every sensor comes with its sophisticated software service for the user. Battery-free sensors are totally connected with the Internet of Things (IoT) technology, which is a data-driven based technology. Security concerns arise during the seamless transfer of data. These sensors generate huge amount of data every second and it is fed to the user system. Data breach in the industry or customer system can jeopardize the business.
Huge number of malwares can be transferred through the devices as the sensor systems are in decentralized manner. Manufacturers are highly dependent on machine generated data driven business solutions, and it is utmost important to provide authentic data; provide security, reliability, and resilience of the battery-free sensors application. Cyber-attacks are more prone to the devices that have more entry points in the system; this happens if the IT infrastructure is managed poorly.
Key Benefits For Stakeholders
- This study comprises analytical depiction of the battery-free sensor market size, battery-free sensor market growth along with the current trends and future estimations to depict imminent investment pockets.
- The overall battery-free sensor market analysis and battery-free sensor market outlook is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The present battery-free sensor market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the sensor market share of key vendors.
- The report includes the market trends, battery-free sensor market size, and the battery-free sensor market share of key vendors.
Battery-Free Sensor Market Report Highlights
| Aspects | Details |
 By FREQUENCY |
|
 By SENSOR TYPE |
|
 By END USER |
|
 By Region |
|
 Key Market Players | INFINEON TECHNOLOGIES AG, TEXAS INSTRUMENTS, GENERAL ELECTRIC CO, AXZON, ENOCEAN GMBH., ADVANTECH, ON SEMICONDUCTOR CORPORATION, POWERCAST, INDUCTOSENSE, FARSENS. |
Analyst Review
The battery-free sensor market is competitive, owing to strong presence of existing vendors. Battery-free sensor companies, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals as they have the capacity to cater to the market requirements. Competitive environment in the battery-free sensor market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by firms.
The battery-free sensor market holds a substantial scope for growth on a global scale. Recent discoveries and innovations have created vast opportunities for numerous players to step in the battery-free sensor market.
Increase in focus of manufacturing companies to improve customer retention by offering quality products and surge in demand for IoT based system and devices drive the market growth. Increasing data security concerns is the biggest limitation for the market growth.
Surge in competition and reduced awareness among small scale manufactures are the key factors that hamper growth of the market. Increase in awareness for need of battery-free sensor and rise in concerns for safety & quality are the factors opportunistic for the battery-free sensor market growth.
The Battery-Free Sensor Market is estimated to grow at a CAGR of 26.0% from 2021 to 2030.
The Battery-Free Sensor Market is projected to reach $277.06 million by 2030.
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Surge in government initiatives to promote smart city project and rise in usage of battery-free sensors etc. boost the market growth.
The key players profiled in the report include Texas Instruments, ON Semiconductors, Farsens, Advantech, and many more.
On the basis of top growing big corporations, we select top 10 players.
The Battery-Free Sensor Market is segmented on the basis of frequency, sensor type, end user, and region.
The key growth strategies of Battery-Free Sensor market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Asia-Pacific region would grow at a highest CAGR of 27.4% during the forecast period.
Temperature Sensor segment will dominate the market during 2021 - 2030.
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