The global IoT sensors market size is expected to reach $49.20 Billion by 2028 growing at the CAGR of 27.83% from 2021 to 2028. In every industry, IoT devices are increasing in popularity. The market size of IoT sensors has increased due to the high use of sensors with increasing wearable appliances requirements. Organizations and people also require convenience and reliable data on the fast-moving market. There is also growing demand for internet penetration along with essential features in IoT-operated applications for real-time computing.
|Market Size (2020)||$6.78 Billion|
|CAGR (2021 to 2028)||27.83%|
|Market Classification||Sensor Type, Network Sensor Type, and Vertical|
|Key Companies Profiled||Analog Devices Inc, ARM Holdings, Broadcom Inc, Honeywell International Inc, Infineon Technologies, Texas Instruments Incorporated, STMicroelectronics, Robert Bosch, Omron Corporation, NXP Semiconductors.|
|Key Countries/Regions Analyzed||US, Canada, Mexico, UK, Germany, France, Italy, Rest of Europe, China, India, Japan, South Korea, Rest of Asia Pacific, Middle East & Africa, and South America|
|Forecast Years||2022 to 2028|
The factors driving the growth of the global IoT Sensors market include Growth in a trend of Internet of Things (IoT), Increasing usage in smartphones, and other electronic devices, and advancement in technologies.
- Growth in a trend of Internet of Things (IoT)
The Internet of Things rapidly becomes a reality that encases people and connects them with everyday lives in many ways. Connection to the Internet had made possible by extensive connectivity and advances in ICT technologies. This leads to a new wave of applications that can significantly improve people’s way of life, learning, working, and entertaining. Internet of Things is the next step in the development of the Internet. Sensors play a vital role in connecting physical life with the digital world. People can track ambient air quality using mobile and home-based environmental sensors. The demand for improved and new IoT sensor technologies is anticipated to increase.
The factors restraining the growth of the global IoT Sensors market include complexities in IoT sensors, and concerns about data security owing to the rise of cybercrimes.
Key Insight in the report:
The Global IoT Sensors market report covers Executive Summary, Market Dynamics, Trend Analysis, Market Size and Forecast, Competitive Intelligence, Market Positioning, Product Benchmarking, and Opportunity Analysis.
The report covers extensive competitive intelligence which includes the following data points:
- Business Overview
- Business Model
- Financial Data
- Financial – Existing
- Financial – Funding
- Product Segment Analysis and specification
- Recent Development and Company Strategy Analysis
- SWOT Analysis
IoT Sensors Market Segmentation
The report covers market sizing and forecasting at the country level as well as at the segment level. IoT Sensors Market is analyzed across the below-mentioned different segments:
- Sensor Type
- Temperature sensor
- Pressure sensor
- Humidity sensor
- Network Sensor Type
The largest portion of the IoT sensor market is expected to be captured in North America. As a result of the growing demand for IoT sensors and technological developments in the region, North America will occupy the largest share of the market, with Asia Pacific increasing at the fastest rate in the development and growth of IoT products and markets. Asia-Pacific is the largest supplier of raw materials, while technically advanced nations such as South Korea and China. The growth of IoT sensors is therefore going to be high.
The IoT Sensors Market is analyzed across the mentioned region.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
IoT Sensors Market Players:
Some of the key players in IoT Sensors Market include:
- Analog Devices Inc
- ARM Holdings
- Broadcom Inc.
- Honeywell International Inc
- Infineon Technologies
- Texas Instruments Incorporated
- Robert Bosch
- Omron Corporation
- NXP Semiconductors
REPORT CONTENT BRIEF:
- High-level analysis of the current and future IoT Sensors market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- IoT Sensors market historical market size for year 2020, and forecast from 2021 to 2028
- IoT Sensors market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.