(MENAFN- GlobeNewsWire - Nasdaq) NEWARK, Del, Aug. 11, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights' prediction, the wireless flow sensors market will reach US$ 2.3 billion in 2023 and US$ 21.1 billion by 2033 . The market will witness a market growth of 25% CAGR from 2023 to 2033. Wireless flow sensors play a vital role in the Internet of Things (IoT) emergence. Real-time data can be sent wirelessly through these sensors, enabling seamless integration with IoT platforms. The demand for wireless flow sensors will likely increase as the Internet of Things grows.
Wireless Flow Sensors Industry G Insights 2023 to 2033:
| Report Attribute | Details |
| Wireless Flow Sensors Market Size (2022) | US$ 1.8 Billion |
| Wireless Flow Sensors Market Share Value (2023) | US$ 2.3 Billion |
| Wireless Flow Sensors Market Anticipated Forecast Value (2033) | US$ 21.1 Billion |
| Wireless Flow Sensors Market Projected Growth Rate (2023 to 2033) | 25% | |
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Based on diverse applications, wireless flow sensors are poised to experience robust expansion within the realm of water and wastewater management markets . Over the forecast period, this sector is anticipated to exhibit a substantial Compound Annual Growth Rate (CAGR) of 24.1%.
Wireless flow sensors fulfill a multitude of vital roles in water and wastewater management contexts. Below are several illustrative functions of wireless flow sensors in these domains:
Flow Monitoring: Wireless flow sensors provide continuous, real-time monitoring of water and wastewater flow rates within pipelines. The acquisition of instantaneous flow data empowers operators with enhanced insight into system performance, facilitating the rapid detection of irregularities and potential issues.
Leakage Detection : Strategically positioned along pipelines, wireless flow sensors discern leaks or bursts by meticulously scrutinizing flow rates and comparing them to anticipated values. Notable deviations indicate possible leaks, triggering immediate interventions to avert water loss and forestall further harm.
System Optimization : Endowing operators with invaluable data for comprehensive system optimization, wireless flow sensors enable the analysis of flow patterns and trends. This analytical capacity empowers operators to pinpoint inefficiencies like unwarranted water consumption and overtaxed pipelines, thereby fostering informed decision-making processes aimed at bolstering system performance and curtailing operational expenses.
Remote Monitoring : Flow sensors seamlessly relay data to a central monitoring hub equipped with wireless connectivity through wireless transmission. This innovation underpins remote oversight of water and wastewater flows, obviating the requirement for manual data compilation while affording real-time data access. Such remote monitoring prowess bolsters operational efficiency and expedites judicious decision-making.
Predictive Maintenance : Wireless flow sensor surveillance of flow rates and pertinent parameters is pivotal in predicting prospective equipment malfunctions or maintenance exigencies. Deviations from normative flow patterns signify potential issues with components such as pumps and valves. Operators can judiciously schedule proactive maintenance activities by leveraging this early warning system, minimizing system downtimes, and curbing repair outlays.
Beyond the purview of water and wastewater management, the utility of sensor technology extends to encompass industrial processes and HVAC systems. By facilitating remote flow rate monitoring and control, this technology engenders diminished maintenance expenses, heightened operational efficiency, and perpetually accurate flow rate assessments conducive to resource management. Data analysis from these sensors uncovers inefficiencies, drives process optimization, and engenders overarching system enhancement, resulting in tangible economies, energy preservation, and amplified productivity.
Notably, wireless flow sensors featuring communication capabilities epitomize scalability, as multiple sensors can interconnect without the constraints of wired configurations. This adaptability proves invaluable in monitoring intricate systems characterized by myriad flow points, affording a comprehensive panorama of the entire process. Installing wireless flow sensors is streamlined and cost-effective compared to traditional wired counterparts. Eliminating the necessity for physical wiring yields time and financial savings, abating the need for elaborate cabling infrastructure. Furthermore, the prolonged battery life and diminished maintenance prerequisites of wireless sensors conduce to a superior operational landscape relative to wired alternatives. These attributes are anticipated to substantiate escalating demand in the years ahead.
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Key Takeaways from the Wireless Flow Sensors Market:
By technology, the Wi-Fi market demand is forecasted to hold a CAGR of 24.4% by 2033 . Research from FMI says the United States Wireless Flow Sensors will have a market worth US$3.9 billion by 2033. South Korea's wireless flow sensor market is projected to grow at a CAGR of 24.6% from 2023 to 2033 . Industry reports predict that by 2033, China's wireless flow sensors sector will total US$ 4.6 billion in revenue . Forecasts indicate a 24.9% CAGR for Japan's wireless flow sensors market during the forecast period. The water & wastewater management segment is expected to dominate wireless flow sensors by 2033 with a CAGR of 24.1% . By 2033, the United Kingdom will dominate the market for wireless flow sensors with a CAGR of 24.6%.
Wireless Flow Sensors Manufacturing: How are Key Players Transforming it?
There are a variety of wireless flow sensors on the market at competitive prices from global manufacturers. Market players include the following
ABB Ltd
Analog Devices, Inc.
Emerson Electric Company
General Electric Company
Honeywell International, Inc.
Kongsberg Gruppen ASA
Maxim Integrated Products, Inc
Microchip Technology, Inc
NXP Semiconductors NV
Panasonic Corporation
To gain a competitive edge over their competitors, industry participants also fund research and development projects.
Players in the wireless flow sensor market face several challenges, such as rising costs and fierce competition. Low-cost and highly effective wireless flow sensors are being promoted by businesses through marketing campaigns.
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Recent Developments
In June 2023, a new reference flow is now available for the design of radio-frequency integrated circuits (RFICs) based on Samsung Foundry's 14LPU process technology, developed by Ansys and Synopsys, Inc. Synopsys' analog/RF design and verification solution along with Ansys' golden signoff electromagnetic analysis makes it easier for mutual customers to optimize RFIC designs. In June 2023, Telekom joined forces with Helium to build IoT Creators, a platform to support IoT networks. The Helium LoRaWAN Network Server (LNS) will be incorporated into IoT Creators' platform to facilitate onboarding and managing devices. With IoT Creators, sensor deployers are able to deploy smart devices wirelessly agnostic, enabling them to utilize cellular and LoRaWAN networks as needed.
Know More about What the Wireless Flow Sensors Market Report Covers
Future Market Insights offers an unbiased analysis of the global wireless flow sensors market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the wireless flow sensors market, the market is segmented based on technology and application across seven major regions.
About the Industrial Automation Division at Future Market Insights
The industrial automation team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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