BANGALORE, India | 6th August 2020: IoT sensors are devices that take input from the physical environment and use built-in computing resources to perform predefined functions when specific input is detected, and then process data before it is passed on. IoT systems operate and use a variety of sensors to provide useful information and data.
The Global Internet of Things (IoT) Sensors market size was valued at 14.9 Billion USD in 2019 and is projected to reach 58.9 Billion USD by 2026, with a CAGR of 21.7% between 2020 and 2026.
Increasing use of IoT sensors in the automotive sector and booming industrial IoT sensors are major factors that are expected to increase the IoT sensor market size during the forecast period to develop.
The report includes a list of all main players on the IoT Sensors market and a thorough overview of the strategies adopted by the companies..
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TRENDS INFLUENCING THE IOT SENSORS MARKET SIZE
Rising demand for IoT integration in industries that involve sensor-based measurements for purposes of analysis and decision support is expected to increase the IoT market size during the forecast period.
Increasing use of area sensors for various manufacturing applications, from system assembly lines to testing and inspection, and continuous innovation and increasing smart sensor applications in multiple industries such as rubber, plastics, and textile sectors are some of the key factors driving the growth of the IoT sensor market.
Increasing demand for smart TV in the consumer electronics sector is exacerbating IoT sensor demand. Furthermore, the rapid adoption of the IoT sensor market is expected to increase the impelling demand of the IoT sensor market is the growing adoption of smartphones and associated items.
Narrowband Internet of Things (NB-IoT) integration will boost demand for IoT solutions across various industries, which, in turn, is expected to increase the IoT sensors market size during the forecast period.
IoT’s introduction in the automotive industry has opened new markets for carmakers and customers around the world. IoT has become a common hotspot for varied multifunctional applications in the automotive sector. IoT provides improved communication, monitoring, and distribution of data at any point of transport. This increased adoption of IoT sensors in the automotive sector is expected to increase the IoT sensors market size.
The incorporation of Artificial intelligence in the IoT sensors is expected to increase the IoT sensors market size during the forecast period. AI will assist in IoT data analysis in the following areas: data accuracy in time series, predictive and advanced analytics, data preparation, geospatial, and location real-time (logistic data).
IOT SENSORS MARKET SHARE ANALYSIS
North America holds the largest IoT Sensors Market share during the forecast period. North is also the largest consumer of IoT Sensors, with a revenue market share of 34.95% in 2017. Most companies in this region are increasingly implementing IoT to keep track of their output to prevent expensive breakdowns or inefficient shutdowns during routine maintenance.
The second region is Europe, following North America, with a sales market share of 34.35% in 2017. Due to the growing innovation in smart homes and gaming applications, and the rising usage of IoT sensors in manufacturing industries, Europe has seen strong growth in recent times.
The Asia Pacific is expected to witness the highest growth during the forecast period. This rapid growth is attributed to the increasing demand from the automotive industry.
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TOP COMPANIES IN THE IOT SENSORS MARKET
The IoT Sensors Market is highly competitive, with multiple regional and international players.
Some of the top companies in the IoT Sensors Market are
- Analog Devices
- Silicon Laboratories
- ABB Ltd
- TE Connectivity
- Huagong Tech
- Zhonghang Electronic Measuring Instruments
- Hanwei Electronics
IOT SENSORS MARKET BREAKDOWN DATA BY TYPE
- Pressure Sensor
- Environmental Sensor
- Optical Sensor
- Chemical Sensor
- Motion Sensor
IOT SENSORS MARKET BREAKDOWN BY APPLICATION
- Smart Home & Wearables
- Smart Energy
- Smart Security
- Transportation & Logistics
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SIMILAR REPORTS :
● COVID-19 Impact on Global Wireless IoT Sensors Market Report
The key advantages these sensors offer are improved protection, convenience, and low cost. Wireless IoT sensor market size is driven by increasing demand for mobile devices, connected cars, and intelligent grids.
The Wireless IoT Sensors Market report offers an exhaustive geographical analysis of the global Wireless IoT Sensors market, covering important regions, viz, North America, Europe, China, Japan, and South Korea.
● IoT Sensors in Healthcare Market Report
Enhanced patient engagement, improved data analytical precision, enhanced disease detection, treatment outcomes, and decreased clinical costs are key factors driving IoT sensors’ growth in the healthcare market size.
● IIoT Sensors in Oil and Gas Market Report
The commercial acceptance of IIoT sensors is a big factor driving the growth of the IIoT Sensors in Oil and Gas Market size. Furthermore, the need to reduce costs drives the adoption of IIoT sensors in the oil and gas sector.
EMEA contributed the majority of shares toward the IIoT sensors market in the oil and gas industry during 2017. It has been estimated that the segment will continue to lead the IoT in the oil and gas market in the forthcoming years.
● Gas Sensors Market Report
The global gas sensor market size was valued at USD 823.1 Million in 2019, and is projected to reach USD 1,336.2 Million by 2027, growing at a CAGR of 6.4% from 2020 to 2027.
The Gas Sensors Market report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by Type and by Application segment in terms of production capacity, price, and revenue for the period 2015-2026.
View Full Report: https://reports.valuates.com/market-reports/ALLI-Manu-3P10/gas-sensors
● Optical Sensors Market Report
● Remote Temperature Sensors Market Report
In this report, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Remote Temperature Sensors.
With the growing demand for smart homes and in-home weather stations in the U.S, the North American market is expected to hold the major market share in the future.
● Infrared Sensors Market Report
The global Infrared Sensors market size is projected to reach USD 1417 Million by 2026, from USD 946.3 Million in 2020.
This report focuses on the volume and value of Infrared Sensors at global, national, and enterprise levels. This study reflects the overall market size of Infrared Sensors from a global perspective by evaluating historical data and future prospects.
● Pressure Sensors Market Report
In 2019, the global Pressure Sensors market size was USD 9832.4 Million, and it is expected to reach USD 15250 Million by the end of 2026, with a CAGR of 6.4% during 2021-2026.
Top companies in the Pressure Sensors Market that are analyzed in the report include Bosch, Denso, Sensata, Amphenol, NXP+ Freescale, Infineon, STMicroelectronics, TE Connectivity (Measurement Specialties), Omron, Honeywell, Siemens, Continental AG, Panasonic, Emerson, ABB, Yokogawa Electric Corporation, KEYENCE, Keller, Balluff, and WIKA Alexander Wiegand SE.