IoT Sensors Market is valued at USD 16.0 Billion in 2021 and expected to reach USD 92.61 Billion by 2028 with a CAGR of 28.5% over the forecast period.
Global IoT Sensors Market Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028, Increasing demand from automotive & transport industry, rapid reduction in the sensor size and high adoption of microelectromechanical systems (MEMS) technology are anticipated to drive the growth of Global IoT Sensors Market.
Sensors are the great components of the IoT and its front equipment completing the basic work of monitoring processes, taking estimations and gathering information. They are regularly one of the initial moves towards implementation of IoT. Sensors like temperature sensor, level sensor, flow sensor, pressure sensor and position sensor are utilized in the IoT applications. A wide assortment of industrial IoT sensors is accessible for basically any industrial requirements. For crucial industrial applications, these sensors can assist with further developing processes and offer unparalleled resource security. Sensing technology and its different applications are continually developing in accordance with advancements in innovation and business requirements. IoT sensors are used to recognize a wide range of assortments of real-world properties-from distance to heat to pressure. The world's first Internet of Things device was created at Carnegie Melon University in the early 1980s. A group of university students devised a method to have their campus Coca-Cola vending machine report on its contents over a network, saving them the trip if the machine was out of Coke.
The Covid-19 outbreak has shown a significant influence on the growth of the global IoT sensor market. Due to the spread of the Coronavirus globally, the sales of IoT sensors for major industrial and commercial verticals dropped. The IoT sensors industry has been impacted by a drop in the number of new industrial projects and temporary shutdowns of production facilities. The Covid-19 has seriously affected the worldwide industrial area inferable from the closing down of various production facilities across the world. The worldwide demand for IoT sensors utilized in business applications declined.
Global IoT sensors market report is segmented on the basis of network technology, type, application and region & country level. Based upon network technology, global IoT sensors market is classified into wired, wireless, ZIGBEE, Z-WAVE, NFC, RFID, ENOCEAN, THREAD, GLoWPAN, WIRELESS-HART, Frocess field bus, DECT-ULE and others. Based upon type, the market is divided into temperature sensor, pressure sensor, humidity sensor, flow sensor, accelerometer, magnetometer, gyroscope, inertial sensor, image sensor, touch sensor, proximity sensor, acoustic sensor, motion sensor, occupancy sensor, CO2 sensor and others. Based upon application, global IoT sensors market is divided into consumer electronics, automotive, agricultures, industrials, healthcare, transportation, food & beverages and others.
The regions covered in global IoT sensors market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global IoT sensors is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
News: Legrand to Focus on IoT, Automation; Scouting for More Acquisitions
November 14th 2021; Legrand had anticipates IoT, energy efficiency, connectivity, and user-interface product sectors to drive its business in India, generating the majority of its income. Legrand India manufactures energy distribution, wiring devices, home automation, structured cabling, lighting control solutions, cable management, and industrial application products, and is the unchallenged leader in MCBs, RCDs, and DBs. It is a market leader in home automation. Legrand India ended 2019-20 with a top line of Rs 2,621 crore, but because to the pandemic, this fell by about 9% in 2020-21.
TI Introduced the Industry's First Zero-Drift Hall-Effect Current Sensors
July 7th, 2020; Texas Instruments introduced the business' initial zero- drift Hall-impact current sensors. The TMCS1100 and TMCS1101 empower the most minimal drift and highest precision over the long run and temperature while giving dependable 3-kVrms isolation, which is particularly significant for AC or DC high-voltage systems like industrial engine drives, energy- storage equipment, solar inverters, and power supplies. TI has applied its skill in both isolation and high-accuracy simple to the TMCS1100 and TMCS1101, empowering architects to plan systems that will give predictable performance and diagnostics over a more extended device lifetime, keeping its solution size minimized without expanding design time.
Increasing Demand from Automotive & Transport Industry, Rapid Reduction in the Sensor Size and High Adoption of Microelectromechanical Systems (MEMS) Technology are Driving the Market Growth
One of the major factors driving the growth of global IoT sensors market is increasing demand from automotive & transport industry. Vehicle availability is relied upon to become essential for appropriate communication among vehicles for 'decision- making' correct digestion and appreciation of visual, audio, geographical, and different information. As smart urban areas arise, Car2Car connectivity and progressed fleet management are relied upon to arise, thus, giving extension to IoT sensors. This has fueled quick advancement and the adoption of intelligent sensor innovation, driving the demand for IoT sensors.
In addition, another major factor supplementing the growth of global IoT sensors market is due to growing rapid reduction in the sensor size and high adoption of microelectromechanical systems (MEMS) technology. MEMS sensors are utilized in a wide range of applications, including automotive, consumer, industrial, military, biotechnology, space exploration, and commercial applications such as inkjet printers, accelerometers in current automobiles, consumer electronics, personal computers, and so on. Furthermore, sensors have been quickly used in devices such as smartphones, drones, wearables, and robotics. As the Internet of Things links more devices, malware has more dispersed access points. Cyber criminals may exploit IoT devices as entry points to harm other devices in the network if they are not properly protected.
However, information security concern may hamper the global IoT sensors market growth. In spite of that, rising government initiatives and funding for IoT projects can provide various opportunities for the further growth of the global IoT sensors market.
North America is Anticipated to Dominate the Global IoT Sensors Market
North America is expected to dominate the global IoT Sensors market within the forecast period due to the increasing use of IoT, growing technological advancements and presence of key players in this region. The use of IoT in the region is likewise fundamentally driving the market. For example; according to the review by Stanford University and Avast, about 66% of homes in the North America have at least around one IoT gadget. Also, 25% of North American homes brag multiple gadgets. In addition, presence of key players also drives the market in this region. For instance; in January 2020, Honeywell did the partnership with Verizon, a remote transporter, to fuse Verizon's Managed Connectivity LTE with Honeywell Internet of Things sensors to make a smarter energy grid.
Asia Pacific is expected to grow at a global IoT Sensors market due to the growing integration of IoT sensors such as proximity sensors, pressure sensors, temperature sensors, level sensors, image sensors, and accelerometers across various application areas. The deployment of IoT sensors in India has been steadily increasing across several application sectors.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2022|
|Market Size in 2021:||USD 16.0 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 92.61 Billion|
|Tables, Charts & Figures:||175|
|IoT sensors Companies||Texas Instruments, Siemens, STMicroelectronics, Honeywell, TE Connectivity, NXP Semiconductors, Infineon Technologies, General Electric, OMRON Corporation & Others|
|Segments Covered||By Type, By Network Technology, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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