Published Date: 13-Oct-2021
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According to a new report Global Battery-free Sensors Market, published by KBV research, The Global Battery-free Sensors Market size is expected to reach $136.5 Million by 2027, rising at a market growth of 28% CAGR during the forecast period.
The automotive sector is anticipated to obtain the highest share in the market over the forecast period. Several automotive companies around the globe are majorly focusing on automating and updating their assembly lines. In addition, automobile manufacturers are adopting battery-free sensors at a considerable rate due to their benefits like prediction and prevention of equipment breakdown by improving the efficiency and performance of assets & equipment at decreased maintenance costs.
Temperature sensors acquired the highest share owing to the surged implementation of these sensors by the manufacturing and process industries, like food & beverages, oil & gas, and automotive sector, in remote machinery to supervise the machine condition. The data collected by temperature sensors help in efficient predictive management programs in industrial plants to eliminate costly downtime. Additionally, such sensors are also maintenance-free, which makes them the most preferred component for several industrial operations.
The Asia Pacific market dominated the Global Battery-free Sensors Market by Region 2020, growing at a CAGR of 28.1 % during the forecast period. The Europe market is experiencing a CAGR of 27.5% during (2021 - 2027). Additionally, The North America market is showcasing a CAGR of 27.8% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of On Semiconductor Corporation, Farsens, Axzon (RFMicron, Inc.), Inductosense Ltd., Phase IV Engineering, Powercast Corp., Distech Controls (Acuity Brands Lighting, Inc.), Enocean GmbH (Rutronik), DCO Systems Ltd. and Everactive.
By Sensor Type
By Industry Vertical
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