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Growth of the U.S. Wireless Sensors Market Hindered by Challenges
June 10, 2015 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "U.S. Wireless Sensors Market - Growth, Trends & Forecasts (2014-2020)" report to their offering.
The U.S. wireless sensors market is expected to increase to $1.10 billion by 2018 at a CAGR of 25.73% over the period 2014-2020
The growth of the U.S. Wireless Sensors Market is currently being hindered by Maturity of End-User Segment and Environmental impact on sensors. Manufacturers focus on investing in R&D activities as accuracy and reliability are major product selection criteria. Further, industry participants emphasize on product differentiation in order to avoid price competition. U.S. is currently the largest market for wireless sensors market in North America. U.S. accounted for around 83% market share of the North America wireless sensors market in 2014 and estimated to be the highest market during the forecast period.
Wireless sensors are used in factory settings for data monitoring, flow of production and other similar functions, as well as in building automation, defense and other industries like materials handling and food and beverage. The increasing quest for new energy sources, renewable energy development, government regulations, and rapid technological advancements are the key drivers which are making the wireless sensors market to grow lucratively. They are also a vital component in smart grids for remote monitoring of transformers and power lines where they are put into service to monitor line temperature and weather conditions.
The U.S. Wireless Sensors Market is segmented on the basis of Type (Temperature, Pressure, Surveillance, Leak, Flow, Humidity, Chemical, Position, and Others), & Industry (Energy, Manufacturing, Healthcare, Defense, Transportation, Banking, Retail, and Others).
This report describes a detailed study of the Porter's five forces analysis of the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. It also covers the market landscape of these players which includes the key growth strategies and competition analysis.
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