Evolve Business Intelligence has initiated a new market research report on IoT Sensors Market. According to the study, 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. Some of the major factors impacting the overall growth of the IoT Sensors market include Growth in the Internet of Things trend (IoT), increased use of smartphones and other electronic devices, and technological development.
Growth Impact Factors
According to Lekha, there has been an increase inthe use of IoT Sensors in automotive, healthcare, and consumer devices, driven by technological advancement and sensor cost reductions widespread use of microelectromechanical systems (MEMS) technology. This had a significant impact on the overall expansion of the sensor market. Smaller sensors have become increasingly common in products such as smartphones, drones, wearables, and robots over the few years.
Wireless network sensor type holds the highest market size in 2020
The IoT Sensors market has witnessed several new additions to the number of players offering the product. Some of these players are Texas Instruments Incorporated, STMicroelectronics, Robert Bosch, and NXP Semiconductors. NXP Semiconductors Acquired wireless assets from Marvell by semiconductors and wireless network sensor type holds highest market size in 2020.
The IoT Sensors market report published today includes market revenue generated through the sale of IoT sensors types such as Temperature Sensors, Pressure Sensors, Humidity Sensors, Others. The report also includes the analysis of the market based on Network Sensor Types such as Wired, Wireless, Thread, Others, and the report also includes the analysis of the market based on Vertical such as Consumer, Commercial, Industrial, Others.