Wireless Temperature Sensor Market Size [2022-2029] Industry Trends, Share, Growth, SWOT Analysis, Market Drivers
The global Wireless Temperature Sensor Market Size is expected to rise with an impressive CAGR and generate the highest revenue by 2029. Fortune Business Insights™ in its latest report published this information. The report is titled "Wireless Temperature Sensor Market Size, Share and Trends Forecast". The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period [2022 - 2029].
- Fortune Business Insights says that the market value stood at US $ 1816 Million in 2019
- By 2027, the Wireless Temperature Sensor Market size is expected to reach US $ 3129.8 Million
- The market is expected to grow at a CAGR of 7.2% in the forecast period (2020-2027).
- The growth rate of the Global Wireless Temperature Sensor Market is 7.2%, with an estimated value of US $ 3129.8 Million million by 2027.
Gather more insights about the market drivers, restrains and growth of the Global Wireless Temperature Sensor Market
Driving Factor:
Constant Product Innovations will Emerge in Favor of Market Growth
The Wireless Temperature Sensor Market report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of product launches has made the highest impact on the growth of the market in recent years. Accounting to the huge demand for wireless sensors across the world, several companies are focusing on innovative products with the aim of covering a wider consumer area. The use of technologically advanced products will help ward off the competition in an otherwise competitive market. In May 2020, CubeWorks Inc. announced the launch of a self-contained smart sensing platform. The ‘CubiSens’ is a self-contained platform that is inclusive of three different wireless temperature sensors. The product was introduced with the aim of temperature monitoring due to the mounting coronavirus cases.
Major companies in Wireless Temperature Sensor Market Report are:
- Temptime Corporation (New Jersey, United States)
- OMEGA Engineering Inc. (Connecticut, United States)
- Texas Instruments Incorporated (Texas, United States)
- PASCO scientific (California, United States)
- Emerson Electric Co. (Missouri, United States)
- Honeywell International Inc. (North Carolina, United States)
- ABB Ltd. (Zürich, Switzerland)
- Axzon Inc. (Texas, United States)
- E+E Elektronik Ges.m.b.H. (Engerwitzdorf, Austria)
- Phoenix Sensors LLC (Arizona, United States)
- Microchip Technology Inc. (Arizona, United States)
- Schneider Electric SA (Rueil-Malmaison, France)
- Endress+Hauser SA (Reinach, Switzerland)
- Siemens AG (Munich, Germany)
- Yokogawa Electric Corporation (Tokyo, Japan)
Pre-Post COVID-19 Impact on Global Wireless Temperature Sensor Market
COVID-19 is an infectious disease caused by the most recently discovered novel corona virus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks.
In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the Wireless Temperature Sensor Market, since end-user industries were still not operating at their full capacity.
Secondary Research:
This research study made extensive use of secondary sources, directories, and databases such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global Wireless Temperature Sensor Market. Other secondary sources included company annual reports, press releases, and investor presentations, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research:
Various sources from both the supply and demand sides were interviewed during the primary research process to obtain qualitative and quantitative information for this report. Primary sources included industry experts from the core and related industries, as well as preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations from all segments of the value chain of this industry. To obtain and verify critical qualitative and quantitative information, in-depth interviews were conducted with a variety of primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants.
Estimation of Market Size
The total size of the Wireless Temperature Sensor Market was estimated and validated using both top-down and bottom-up approaches. These methods were also widely used to estimate the size of various market sub segments. The following research methodologies were used to estimate market size:
Extensive secondary research was used to identify the industry’s key players.
The revenues generated by the market’s leading players in molecular diagnostics have been determined through primary and secondary research.
All percentage shares, splits, and breakdowns were calculated using secondary sources and confirmed using primary sources.
FAQ's:
1. How big is Wireless Temperature Sensor Market?
The global wireless temperature sensor market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period, to Reach USD 3129.8 Million by 2027, from USD 1816 Million in 2019
2. Who is the market leader in Wireless Temperature Sensor?
Major Points in Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Annexure / Appendix
- Global Wireless Temperature Sensor Market Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
TOC Continued...!
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