Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, the Global IoT Sensors Market Size is Expected to Grow from USD 14.3 Billion in 2023 to USD 170.3 Billion by 2033, at a CAGR of 28.11% during the forecast period 2023-2033.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global IoT Sensors Market Size, Share, and COVID-19 Impact Analysis, By Sensor Type (Temperature Sensor, Pressure Sensor, Humidity Sensor, Flow Sensor, Accelerometer, Magnetometer, Gyroscope, and Others), By Network Technology (Wired and Wireless), By Vertical (Consumer IoT, Commercial IoT, Retail, Aerospace & Defense, Logistics-Supply Chain & Transportation, Industrial IoT, and Smart Agriculture), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
IoT sensors are the hardware integrated into devices that collect data on their physical surroundings, focusing on variables such as air quality, light, or an object’s vibrations. These sensors are crucial to IoT systems due to they collect data in real time, enabling automation, predictive maintenance, and data-driven insights. IoT provides businesses and organizations an opportunity to grow exponentially as they adapt to new developments in technology. To fully utilize IoT and succeed in the IoT market, cross-domain partnerships and innovative business strategies are crucial. The increasing demand for connected and wearable devices is significantly driving the IoT sensors market. Further, the rising adoption of wearable devices in healthcare sectors which includes fitness bands, smartwatches, smart glasses, EEG monitors, and pain management devices are driving the market. On the contrary, data security concerns such as vulnerability, weak encryption, insufficient updates, and data privacy risks may hinder the IoT sensors market.
The pressure sensor segment is expected to grow at the fastest CAGR through the forecast period.
Based on the sensor type, the IoT sensors market is classified into temperature sensor, pressure sensor, humidity sensor, flow sensor, accelerometer, magnetometer, gyroscope, and others. Among these, the pressure sensor segment is expected to grow at the fastest CAGR through the forecast period. Several companies worldwide are concentrating on offering pressure sensors with integrated Internet of Things technologies. IoT systems use pressure sensors to keep an eye on systems and gadgets that are triggered by pressure signals.
The wireless segment is anticipated to hold the largest market share during the predicted timeframe.
Based on the network technology, the IoT sensors market is classified into wired and wireless. Among these, the wireless segment is anticipated to hold the largest market share during the predicted timeframe. Wireless sensor networks consist of many spatially-dispersed sensors that communicate through wireless connections. The rising demand for consumer electronics, automobiles, defense products, household appliances, and smartphones is contributing to driving the market in the wireless segment.
The industrial IoT segment is expected to dominate the market during the forecast period.
Based on the vertical, the IoT sensors market is classified into consumer IoT, commercial IoT, retail, aerospace & defense, logistics-supply chain & transportation, industrial IoT, and smart agriculture. Among these, the industrial IoT segment is expected to dominate the market during the forecast period. Various sectors utilize industrial IoT sensors extensively to keep an eye on systems, assets, equipment, and general performance. After analysis, real-time data is sent to a company's centralized system.
North America is estimated to hold the largest share of the IoT sensors market over the forecast period.
North America is estimated to hold the largest share of the IoT sensors market over the forecast period. The increasing demand from automation and virtual reality market along with the increasing trend of IoT in the region is driving the market. The region’s robust digital infrastructure with high-speed internet connectivity and extensive deployment of IoT networks are propelling the market growth. The expanding customer base, rising disposable income of the general public, and better IT infrastructures are contributing to driving the market growth.
Asia Pacific is predicted to grow at the highest CAGR in the IoT sensors market over the forecast period. The expanding manufacturing sector in countries such as China, India, and South Korea is responsible for driving the market. Further, the strong foundation for IoT adoption created by the quick growth of mobile phone usage and internet access is propelling the market growth. The increasing penetration of the Internet in both commercial and residential settings are the factors driving the market.
Competitive Analysis
Major key players in the global IoT Sensors market include Texas Instruments, TE Connectivity Corporation, STMicroelectronics International N.V., NXP Semiconductor N.V., Honeywell International Inc., Siemens AG, General Electric, OMRON Corporation, Murata Manufacturing Co., Ltd., Analog Devices, Inc., Robert Bosch GmbH, Infineon Technologies AG, Sensirion AG, and Others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the IoT sensors market based on the below-mentioned segments:
Global IoT Sensors Market, By Sensor Type
Global IoT Sensors Market, By Network Technology
Global IoT Sensors Market, By Vertical
Global IoT Sensors Market, By Regional Analysis
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