The expansion of manufacturing activities resulting from the migration of production bases to Asian countries, such as China, India, and South Korea, with low labor costs, drives the demand for battery-free sensors in the region. Ongoing industrialization, growing adoption of predictive maintenance tools, and increasing competitive pressure to achieve operational efficiency are fueling the growth of the battery-free sensors market in this region. Hence, the logistics industry is expected to be the fastest-growing market from 2021 to 2026.ĪPAC is projected to grow at the highest CAGR during the forecast periodīattery-free sensors market in APAC is expected to grow at the highest CAGR during 2021?2026.
Moreover, advancements in battery-free sensors technology have generated savings not only from inventory theft protection but also from reduced spoilage. More reliable and current information can also strengthen demand-planning capabilities, potentially reducing out-of-stock and overstock situations. These sensors allow for more traceability of inventory, potentially reducing the risk of inventory shrinkage or loss. RFID enables a more automated approach that can offer increased accuracy and real-time inventory tracking at a very low cost. Battery-free sensors with RFID technology enable touch-free identification and tracking of items and have helped transform traditional inventory management. Smart sensors increase the automated collection and processing of data and broaden management visibility across the supply chain to help companies reduce operating costs, improve asset efficiency, and generate incremental revenue. In recent years, logistics has emerged as a significant market for sensors. Logistics industry is expected to grow at the highest CAGR during the forecast period Similarly, high-frequency sensors hold a significant market share owing to the high deployment of these sensors in medical devices, smartphones, and supply chain applications. These factors contribute to the high demand for UFH battery-free sensors. Thus, UHF sensors work well in a wireless sensor network. UHF sensors also allow multiple sensors to read with the help of one reader. These sensors have much longer read ranges (up to 20 feet) than that of low-frequency and high-frequency sensors and can be mounted on metal hence, UHF sensors are ideal for industrial applications. Ultra High frequency segment expected to hold the largest market share during the forecast periodĪt present, most battery-free sensor manufacturers offer UHF sensors for various applications. The recovery depends on government assistance, as well as the level of corporate debt and how the companies and markets cope with the trimmed demand. It has also resulted in limited production leading to a serious decline in business inputs. Battery manufacturers in the US, Germany, and Australia are highly impacted by the shutdown of operations in China and other Asia Pacific countries. The COVID-19 situation has exposed the overdependency on the region for key raw materials, especially China. Key components for batteries are mainly manufactured in Asia Pacific. The current situation has impacted the supply chain of the battery industry. In the prevailing COVID-19 situation, the expected growth of the battery-free sensors market is expected to decline as the pandemic is restricting the supply of batteries and other components due to severe disruptions in businesses and the global economy. With rapid technological advancements, battery-free sensors are increasingly adopted in IoT applications to improve production efficiency and reduce operational and maintenance costs in the wake of COVID-19.Īdditionally, the ongoing miniaturization of medical and electronic devices and the growing implementation of automated condition monitoring solutions in smart factories are expected to boost the growth of the battery-free sensors market during the forecast period. The global battery-free sensors market size is projected to grow from USD 32 million in 2021 to USD 109 million by 2026 it is expected to grow at a CAGR of 27.6% from 2021 to 2026. 18, 2021 /PRNewswire/ - The "Global Battery-free Sensors Market with COVID-19 Impact Analysis, by Sensor Type (Temperature Sensors, Humidity/Moisture Sensors, Pressure Sensors), Frequency, Industry (Automotive, Logistics, Healthcare, Food & Beverages), and Region - Forecast to 2026" report has been added to 's offering.