Rapidly Increasing Industrial Automation to Fuel Demand for Self-Powered Sensors: Fact.MR Report – GlobeNewswire

United States, Rockville MD, Sept. 08, 2022 (GLOBE NEWSWIRE) -- The global self-powered sensors market is worth US$ 560.3 million and is forecasted to surge ahead at a CAGR of 14.6% through 2032, as per a new report by Fact.MR, a market research and competitive intelligence provider. The market is backed to grow along with the robust growth of advanced technological accessories.

Self-powered sensors are used in diverse end-use industries that continuously gather data and send it to a cloud-based dashboard. Artificial intelligence (AI) software always looks for patterns and potential to be used with various technological accessories. With practical knowledge gathered by the software, it quickly puts the analysis into practice, which gets fed back into the process, thus making operations swift without the need for any external energy source.

The use of self-powered systems have increased significantly in agriculture for monitoring and optimizing crops. In 2021, valuation of the self-powered sensor agriculture sector stood at US$ 41.9 million. Additionally, self-powered sensors are also a crucial piece of equipment in wearable & healthcare devices.

A point to be noted is that market penetration of self-powered sensors is directly proportional to advancements in end-use industries. It is expected that technological advancements in several end-use sectors will fuel market growth over the coming years.

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Key Takeaways from Market Study

Technological advancements in agriculture & healthcare sectors will drive the growth of the market for self-powered sensors, says a Fact.MR analyst.

Market Development

The business environment in the market for self-powered sensors continues to reflect the boom within the industry despite difficult economic conditions. To establish a firm position in the market, key manufacturers are resorting to strategies such as acquisitions and collaborations.

Moreover, market players are striving to expand their customer base by targeting different end users and geographies. Additionally, market players are focusing on expanding their product offerings through R&D investments to deliver advanced and smart self-powered sensor products.

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Category-wise Insights

Integration of technology in self-powered sensors has witnessed significant growth at14.6%CAGR and has reached a market valuation ofUS$ 560.3 millionin 2022.

These two types of power sources have many limitations. The vibration power source (piezoelectric energy harvesting) has certain limits that can stop the device from gaining power. It is very easy to gain power in self-powered sensors by using the vibration power source. As such, the vibration power source is widely used in self-powered sensors. These self-powered sensors have increased in prominence in recent years, reaching a market valuation ofUS$ 207 millionat the end of 2021.

Competitive Landscape

Prominent self-powered sensor manufacturers are 8power, Aeinnova, Ambetronics Engineers Private Limited, Bigbelly Solar LLC, Clarity Movement Co., Edyza Sensors, EnOcean, Everactive, Fludia, Intertraffic, Kando, Lightricity Ltd, MesoScribe Technologies, ONIO AS, Parker Hannifin Corp, Rentricity, Sensor-Works, and Wiliot.

Global manufacturers of self-powered sensors are trying to adopt newer technologies to stay on the top of the competition. Key manufacturers are focusing on inventing new solutions for vehicles with wireless charging, enhancement of safety & comfort, and creativity in their products.

Strategic alliances, product launches, partnership agreements, capacity expansion, and other related strategies are being resorted to by industry participants.

In January 2022,ROHM Co Ltdannounced the development of an automotive wireless charging solution integrated with NFC communication. It comes with key features such as Foreign Object Detection (FOD), which will help detect metallic objects and NFC will enable infotainment operations via device authentication.

Fact.MR has provided detailed information about the price points of key manufacturers of self-powered sensors positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

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Segmentation of Self-Powered Sensors Market Research

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global self-powered sensors market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of sensor type (temperature sensors, humidity / moisture sensors, pressure sensor motion & position sensors, light sensors, others), power source (vibrations (piezoelectric energy harvesting), temperature gradients (thermoelectric energy harvesting), radio waves (RF energy harvesting)), and end use (aerospace & defense, agriculture, automotive & transportation, building automation, healthcare devices, industrial devices, retail & e-Commerce, wearable devices, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

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Rapidly Increasing Industrial Automation to Fuel Demand for Self-Powered Sensors: Fact.MR Report - GlobeNewswire