IoT Sensors Market to account to US$ 65.79 Bn by 2027 at a CAGR of 23.9%

IoT Sensors Market -Regional

IoT Sensors Market -Regional

Global IoT sensors market is estimated to reach US$ 65.79 Bn by 2027 from US$ 9.46 Bn in 2018

PUNE, MAHARASHTRA, INDIA, November 27, 2019 /EINPresswire.com/ -- North America was the leading IoT sensors market in 2018 and Asia-Pacific is anticipated to witness the fastest growth throughout the forecast period. Across North America, the technological advancements has led to a highly competitive markets. North America is a hub of technological developments that comprises with economically robust countries. The companies are continuously enhancing the overall business processes in order to meet the customers demand for high quality products and services in the best possible way. Being a technologically advanced country, coupled with high disposable incomes with individuals, the consumer electronics industry has blossomed in the region. The density of consumer electronic devices in the region is quite high. These factors have driven the IoT sensors market in North America.

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Company Profiles in the IoT Sensors Market are:

Analog Devices, Inc.
ARM Holdings PLC
Broadcom, Inc.
Honeywell International, Inc.
Infineon Technologies AG
NXP Semiconductors N.V.
Omron Corporation
Robert Bosch Gmbh
STMicroelectronics N.V.
Texas Instruments Incorporated

The IoT sensors market is segmented on the basis of types under temperature sensor, light sensor, pressure sensor, chemical sensor, motion sensor, and others. An IoT needs varied types of sensors to make performance of applications more reliable. As the things are not capable enough to capture states or perform actions unless all device or systems are fitted with the sensors.

The IoT sensors market by connectivity type is further segmented into wired and wireless. Both connections have its benefits and limitations which distinguish two from each other. Wired connection is more reliable, secure, and they are less likely to get affected by local factors such as floors, walls, cabinets, or interruption from any electronic devices. Whereas, wireless connections are highly scalable and cost-effective technologies due to the presence of a considerable number of manufacturers in the IoT sensors market.

Connected cars enable the travelers or the car itself to automatically share the data within the vehicle and also outside the vehicle. Internet of things (IoT) is one of those technologies which has been breaking grounds to offer automotive manufacturers a new set of products and services which are entirely a new layer to the traditional car perceptions. These new configurations may include sensors, controllers, lighting and software applications, these products and services are offered as stand-alone, where, the customer can plug and play as per the requirement or some of the features are built-in in the new generation cars. These systems can either be deployed in infotainment or automated control units of vehicles. Advancing research in connected and autonomous cars will further increase the scope of integrating IoT sensors in vehicles.

The consumer electronics industry is witnessing immense growth. In the current scenario, various consumer electronic devices are used by consumers across the globe for a plethora of tasks. Consumer electronic devices such as smartphones, tablets, PCs, music players, etc. have become integral part of consumers’ lives. The consumer devices are becoming smarter with the ongoing technological advancements. The AI-enabled applications have stoked the demand for cheaper sensors. The market for consumer electronics is growing the current scenario, owing to the fact that several semiconductor companies are regularly coming up with advanced technologies which is attracting the industry. Furthermore, wearable devices accounts for one of the fastest-growing segments of the IoT connected device industry. Advanced enterprises considers wearable as exceptional opportunity for mobile technology that can drive greater efficiency, improve workflow and enhance communication.

The report segments the global IoT sensors market as follows:

Global IoT Sensors Market - By Type
Temperature sensor
Light Sensor
Pressure Sensor
Chemical Sensor
Motion Sensor
Others

Global IoT Sensors Market - By Connectivity Type
Wired
Wireless

Global IoT Sensors Market - By Application
Consumer Electronics
Building Automation
Healthcare
Automotive
Industrial
Retail

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Sameer Joshi
The Insight Partners
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