Pune, May 17, 2023 (GLOBE NEWSWIRE) -- According to SNS Insider, the Battery-Free Sensors Market reached a valuation of USD 48.71 million in 2022. It is projected to expand significantly and reach USD 355 million by 2030, exhibiting a robust compound annual growth rate (CAGR) of 28.2% during the forecast period from 2023 to 2030.
Market Report Scope
Battery free sensors are devices that can collect and transmit data without relying on traditional power sources like batteries. They operate by harnessing and utilizing energy from their surrounding environment, such as light, heat, vibrations, or radio frequency signals, to power their operations. These sensors are designed to be energy-efficient and self-sustaining, eliminating the need for frequent battery replacements or external power supplies.
Market Analysis
The battery free sensors market is experiencing significant growth due to various factors, including the miniaturization of medical and electrical devices and the increased adoption of automated condition monitoring systems in smart factories. These trends have created a demand for compact and self-sustainable sensor solutions, eliminating the reliance on batteries. The advancements in battery-free sensor technologies, coupled with the expanding IoT ecosystem, have opened up new opportunities across industries, revolutionizing the way data is collected and utilized for improved efficiency and productivity.
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Battery-Free Sensors Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 48.71 Million |
| Market Size by 2030 | US$ 355 Million |
| CAGR | CAGR of 28.2% From 2023 to 2030 |
| Key Segments | • By Type (Programmable (FPGA & PLD) DSP IC, Application-Specific DSP IC, General-Purpose DSP IC) • By Frequency (Low Frequency, High Frequency, Ultra-High Frequency) • By Sensor Type (Temperature Sensors, Pressure Sensors, Light Sensors, Humidity/Moisture Sensors, Motion And Position Sensors, Others) • By Industry Vertical (Automotive, Logistics, Oil & Gas, IT & Telecommunications, Healthcare, Food & Beverages, Others) |
| Regional Analysis | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Advantech, Enocean, On Semiconductor Corporation, Texas Instruments, General Electric, Infineon Technologies, Axzon, Powercast, Inductosense and Farsens. |
| Market Drivers | • Adoption of automated condition monitoring technologies in smart factories is on the rise. • Improving productivity by increasing the installation of battery-free sensors in industrial plants during the COVID-19 scenario. |
Impact of Recession
A recession can have several potential impacts on the battery-free sensors market, including reduced spending, delayed infrastructure projects, decreased R&D investments, market consolidation, and a temporary slowdown in innovation. However, the focus on cost reduction and operational efficiency, along with government stimulus packages and post-recession recovery, can help mitigate these effects and create new growth opportunities for the market.
Key Regional Development
The Asia Pacific region is witnessing significant growth in the battery-free sensors market, primarily fueled by the rapid pace of industrialization, the widespread adoption of predictive maintenance solutions, and the mounting competitive pressure to enhance operational efficiency. The escalating manufacturing operations in Asian countries, such as China, India, and South Korea, driven by the relocation of production plants seeking cost-effective labor, have propelled the demand for battery-free sensors in the region. Battery-free sensors are gaining traction in Asia as they offer several advantages over their battery-powered counterparts. They eliminate the need for batteries, which can be costly and pose environmental risks, and they also require less maintenance, resulting in reduced downtime and increased productivity.
Key Takeaway from Battery-Free Sensors Market Study
- The market is witnessing remarkable growth, and within this market, temperature sensors are taking the lead. Their energy efficiency, wireless connectivity, extended lifespan, versatility, and ability to overcome environmental constraints make them a compelling choice for a wide range of applications.
- The automotive industry's embrace of battery-free sensors marks a significant milestone in the evolution of sensor technology. By harnessing energy from their environment, these sensors offer a sustainable and efficient alternative to traditional battery-powered sensors.
Recent Developments Related to Battery-Free Sensors Market
- Everactive, a pioneering technology company, has made a significant leap forward in the realm of Internet of Things (IoT) innovation with the launch of its groundbreaking battery-free IoT Development Kit. Everactive has opened up new possibilities for a wide range of IoT applications, from smart homes to industrial automation and beyond.
- H2scan, a leading provider of advanced hydrogen sensing solutions, has proudly introduced its latest innovation, the HY-ALERTA 5021 Hydrogen Sensor. This state-of-the-art device is specifically designed to enhance safety monitoring in battery rooms, ensuring optimal protection and peace of mind for businesses operating in industries where hydrogen is utilized.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Battery-free Sensors Market Segmentation, by frequency
9. Battery-free Sensors Market Segmentation, by sensor type
10. Battery-free Sensors Market Segmentation, by industry vertical
12.Company Profiles
13.Competitive Landscape
14.Conclusion
About SNS Insider
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