IoT Sensor Market to Register a CAGR of 25.32% During the Forecast Period

 Increasing use of sensors in IoT applications due to cost and size reduction, and technological advancement influence the global IoT Sensor market through 2027F.

According to TechSci Research report, “IoT Sensor Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027”. The growth of internet penetration rate and high demand for connected and wearables devices are anticipated to drive the growth of the global IoT sensor market and is forecast to grow at an impressive CAGR of 25.32% during the forecast period.

Sensors are finding use in automotive, healthcare, and consumer products as sensor sizes shrink and micro electromechanical systems (MEMS) technology becomes more widely adopted. This has had a significant impact on the sensor market's overall growth. During the last five years, smaller sensors have rapidly been deployed in devices such as smartphones, drones, wearables, and robots.

Increasing demand for Industrial IoT (IIoT) integration in sectors that require sensor-based measurements for observations and decision support is expected to drive the growth of the IoT sensor market during the forecast period. Furthermore, supportive government initiatives, as well as high investment in IoT projects around the world, provide lucrative opportunities for the growth of the IoT sensor market. Governments around the world are funding and investing in IoT-related innovations, as the government sector is expected to be one of the largest potential customers of IoT. Governments are looking for advancements and innovations in critical areas such as smart traffic management systems, energy conservation via smart meters, and security system enhancements via smart cameras. Furthermore, governments are funding new IoT research projects in order to develop smart cities. This assistance is expected to be critical in the growth of the IoT in the coming years.

Browse over 119 market data Figures spread through 70 Pages and an in-depth TOC on "Global IoT Sensor Market" 
https://www.techsciresearch.com/report/global-iot-sensors-market/1474.html

The global IoT sensor market is segmented based on sensor type, application, network type, region, and competitive landscape. On the basis of sensor type, the market is segregated into pressure sensor, temperature sensor, light sensor, chemical sensor, motion sensor, and other sensors (touch sensor, proximity sensor). Out of these, the pressure sensor segment registered a market share of 21.99% in 2021, which has dominated the market due to the rising demand for energy-efficient pressure sensors for consumer electronics, automotive, and portable healthcare wearables. The Application type segment is divided into industrial automation, connected & smart home, smart cities, healthcare, retail, connected cars, aerospace & defense, smart agriculture, others (smart energy, smart supply chain). Furthermore, in terms of region, the global IoT sensor market is segmented into North America, Europe, Asia Pacific, MEA, and South America.

Key market players in the global IoT sensor market include:

  • Texas Instruments
  • Broadcom Corporation
  • ST Microelectronics
  • TE Connectivity
  • NXP Semiconductors
  • Analog Devices, Inc
  • InvenSense, Inc
  • Omron Corporation
  • Murata Manufacturing
  • Microchip Technology, Inc.
  • onsemi
  • Infineon Technologies AG

The market's competitive landscape is extremely fragmented. To strengthen their market positions, market players are focusing on strategies such as partnerships, joint ventures, product innovation, R&D, and geographical expansion.

On the basis of region, the market is divided into North America, Europe, Asia Pacific, MEA, and South America. Among all regions, APAC is expected to have the highest CAGR during the forecast period. This market has been researched for India, China, Japan, South Korea, Australia, and the rest of APAC. APAC is an important market for consumer electronics, automobiles, and healthcare products. This region has emerged as a global hub for large investments and business expansions.

Download Sample Report

Customers can also request for 10% free customization on this report.

“With the emergence of smart cities, car-to-car connectivity and modern fleet management are likely to enter the market, thereby, offering significant opportunities to the IoT sensors. This has resulted in fast innovation and the adoption of smart sensor technology, increasing the demand for IoT sensors. The automotive sector across the globe is transforming into an autonomous phase with recent business collaborations and joint ventures among system integrators, chip makers, automotive giants, and others”. said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“IoT Sensor Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027, Segmented By Sensor Type (Pressure Sensor, Temperature Sensor, Light Sensor, Chemical Sensor, Motion Sensor, Others (Touch Sensor, Proximity Sensor)), By Application (Industrial Automation, Connected & Smart Home, Smart Cities, Healthcare, Retail, Connected Cars, Aerospace & Defense, Smart Agriculture, Others (Smart Energy, Smart Supply Chain)), By Network Type (Wired, Wireless), By Region”, has evaluated the future growth potential of Global IoT Sensor Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in global IoT sensor market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking country and region specific high growth markets helps TechSci clients to lead rather than follow market trends.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: sales@techsciresearch.com

Web:  https://www.techsciresearch.com

Comments

Post a Comment

Popular posts from this blog

Defense Cyber Security Market 2028 By Trends, Share, Growth and Demand Forecast

Image
Growing severity of cyber-attacks on military/government organizations and increasing government initiatives to secure critical data  are a major factor attributable to the growth of the market. According to TechSci Research report, “ Global Defense Cyber Security Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028” . The Global  Defense Cyber Security is anticipated to project robust growth in the forecast period with a CAGR of  13.06% through 2028, Various governments across the world are looking to adopt cybersecurity automation solutions for their military applications by concentrating on reducing operating expenditures (OPEX) while maintaining adequate measures against cyberthreats. Further, with the increasing dependency of military organizations on the internet network, the frequency and sophistication of cyberattacks are on the rise. To counter all these vulnerabilities, there is a major focus on adopting cyber security solutions in the defens
Read more

VOIP Services Market Analysis and Future Growth, Forecast 2029

Image
Rising Adoption of unified communication solutions and increasing globalization and cross-border business operations are likely to drive the Market in the forecast period. According to TechSci Research report, “ VOIP Services Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029 ”, the Global VOIP Services Market is experiencing a surge in demand in the forecast period. A prominent driver propelling the global Voice over Internet Protocol (VoIP) services market is the compelling combination of cost efficiency and scalability. Unlike traditional telephony systems, VoIP leverages existing internet infrastructure, minimizing the need for dedicated phone lines and associated maintenance costs. This results in significant cost savings for businesses and individuals, especially in long-distance and international communications, making VoIP an economically attractive alternative. Furthermore, the scalability inherent in VoIP services is instrumental in
Read more

Unmanned Surface Vehicle (USV) Market Outlook 2029 By Demand, Share, Revenue Analysis

Image
The major drivers for the Global Unmanned Surface Vehicle USV Market include increasing demand for cost-effective and fuel-efficient personal aviation solutions, coupled with advancements in lightweight materials and avionics technologies. According to TechSci Research report, “ Global Unmanned Surface Vehicle USV Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029 ”, the Global Unmanned Surface Vehicle USV Market stood at USD 2.41 billion in 2023 and is anticipated to grow with a CAGR of 4.61% in the forecast period, 2025-2029. The global Unmanned Surface Vehicle (USV) market is currently witnessing an unprecedented surge in growth, fueled by a rising need for enhanced maritime security, comprehensive environmental monitoring, and in-depth oceanographic studies. This surge in demand has acted as a catalyst, driving the development and deployment of highly advanced USVs that leverage cutting-edge technologies such as artificial intelligence and machin
Read more