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 Io...