Increasing adoption of sensor-based IoT-enabled solutions in the healthcare sector, coupled with growing automation trend in various industries is driving market growth.
The global sensors in Internet of Things (IoT) devices market is expected to reach a market size of USD 204.74 Billion at a steady CAGR of 30.8% in 2028, according to latest analysis by Emergen Research. This steady revenue growth of the market can be attributed to increasing Internet and wearable medical device penetration and growing trend of smart factories and automation of various manufacturing processes. Adoption of IoT-enabled sensors and devices to enable more flexible manufacturing processes and to improve productivity has been increasing. Growing need to monitor, control, and improve operational efficiency has also been resulting in growing adoption of sensors in IoT devices in manufacturing and automotive industries. Smart city initiatives in developing countries are also contributing to growing demand for sensors in Internet of Things devices, and the trend is expected to continue during the forecast period. The Global Sensors in Internet of Things (IoT) Devices Market report offers a detailed analysis of the global market size, regional and country-level analysis of the market, segment growth, competitive landscape, sales analysis, industrial chain analysis, opportunities, recent developments, regulatory framework, market growth analysis, and strategic market initiatives.
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The research report analyzes the overall impact of the pandemic on the Sensors in Internet of Things (IoT) Devices industry, along with its impact on the key segments and sub-segments of the market. Moreover, the report assesses the COVID-19 pandemic’s impact on the key geographical region and their effect on the overall market owing to different restrictions imposed in different regions and countries.
Manufacturing industries are increasingly adopting sensors in IoT devices for employee safety and well-being, profitable process workflows, and improved space utilization. Technological advancement in sensors, field devices, and robots is projected to boost deployment of sensors in a growing range of IoT devices is also expected to support market growth over the forecast period.
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Key Highlights of Report
The findings of the report explain various aspects of the market, such as market status, developmental prospects, key regional segments, renowned market players, product offerings, end-use industries.
The pressure sensors segment revenue is expected to expand at a rapid CAGR of 31.5% during the forecast period. The ability of pressure sensors to detect fluctuations or drops in pressure is driving utilization in various processes in manufacturing facilities.
Key players in the market include Acuity Brands, Bosch Sensortec GmbH, Cisco Systems, Ericsson, Google Inc., Honeywell International Inc., HTC Corporation, IBM, Infineon Technologies, and Intel Corporation.
The Sensors in Internet of Things (IoT) Devices market intelligence report talks about the market size, share, value, and production cost analysis over the forecast period 2020-2027.
The wireless segment accounted for a significantly high revenue share in the sensors in Internet of Things (IoT) devices market in 2020. Wireless sensor networks are effective in harsh or hostile environments, offer an easily scaled solution, and enable remote data collection and transmission, which are factors driving demand for wireless sensor networks.
- Application Outlook (Revenue, USD Billion; 2021–2028)
- Sensor Type Outlook (Revenue, USD Billion; 2021–2028)
- Temperature sensors
- Pressure sensors
- Chemical sensors
- Light sensors
- Motion sensors
- Other sensors
- Network Technology Outlook (Revenue, USD Billion; 2021–2028)
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North America accounted for largest revenue share contribution to the global sensors in Internet of Things (IoT) devices market in 2020. Increasing adoption of IoT-based sensor solutions in manufacturing, automotive, transportation, and healthcare industries in countries in the region is projected to boost market growth during the forecast period.
Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
Critical Factors To Help Readers Understand The Market Scenario
Key Market Dynamics: The global Sensors in Internet of Things (IoT) Devices market research report details on the ongoing market trends, development outlines, and several research methodologies. It illustrates the key factors that directly manipulate the market, for instance, production strategies, development platforms, and product portfolio. According to our researchers, even minor changes within the product profiles could result in huge disruptions to the above-mentioned factors. Each of these factors has been elaborately discussed in the initial segment of the study.
Key Growth Prospects: The report specializes in examining the major growth prospects of the global Sensors in Internet of Things (IoT) Devices market, such as new product launches, collaborations, joint ventures, mergers & acquisitions, agreements, partnerships, and the progress of the key market players functioning in the market, on regional and global levels.
Key Market Highlights: The Sensors in Internet of Things (IoT) Devices report deeply inspects factors like revenue accumulation, cost, capacity utilization rate, production capacity, production rate, consumption rate, import/export, supply/demand, gross, market share, CAGR, and gross margin. It further presents an all-inclusive study of the market growth factors and their latest trends.
Analytical Tools: The report discusses the leading market participants and their market scope, leveraging various analytical tools. Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis, are some of the analytical tools used by researchers for this market study.
Prospective Customers: The report assesses some crucial insights into service providers, manufacturers, suppliers, distributors, stakeholders, and individuals, who are keen on self-studying and assessing the Sensors in Internet of Things (IoT) Devices market.
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