IoT Sensors Market is expected to reach US$ 65.79 Billion by 2027

A substantial increase in the adoption of IoT sensors in diverse industries will drive the market in near future

Latest market study on "IoT Sensors Market to 2027 by Type (Temperature Sensor, Light Sensor, Pressure Sensor, Chemical Sensor, Motion Sensor, and Others); Connectivity Type (Wired and Wireless); and Application (Consumer Electronics, Building Automation, Healthcare, Automotive, Industrial, Retail, and Others) - Global Analysis and Forecast", IoT sensors market is estimated to reach US$ 65.79 Bn by 2027 from US$ 9.46 Bn in 2018. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

The advent of IoT has enabled each device to be connected over the internet and the rising adoptions globally would result in more than billions of devices connected over the internet. Also, validating to the above mentioned point is the fact that the data traffic rate on a global level, has grown at an annual rate of more than 65% over the last five years. Also, between 2018 and 2023, the data traffic is anticipated to grow at a compound annual growth rate of close to 40 percent. This exponential growth in data traffic over the internet is out rightly attributed to the growing penetration of smartphones and other consumer electronic devices that can be connected over the internet as a result of the growing popularity of IoT. It is estimated that each individual will have close to a dozen number of devices that would be connected over the internet by 2020. Huge populations of India and China are further proliferating the growing penetration of smart phones and other consumer electronic devices. Additionally, the Government initiatives towards digitalization of economies in these countries is leading to exponential growth of data traffic over the internet in these countries and also on a global scale for other developing economies.

IoT Sensors Market

The global market for IoT sensors is segmented on various parameters such as type, connectivity type, application, and geography. Based on type, the pressure sensor segment dominated the IoT sensors market. On the basis of connectivity type, wired IoT sensors led the overall IoT sensors market.

The IoT sensors market operates in an extremely fragmented industry with huge number of smaller players capturing major market chunk. Key players operating in the market are offering attractive services and solution so as to gain customer traction. The major companies offering IoT sensors to different industries include 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., and Texas Instruments Incorporated among others. Several other companies are also offering these products to different industries which is facilitating the IoT sensors market to propel over the years.

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
• Others

Global IoT Sensors Market - By Geography

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Russia
  • UK
  • Rest of Europe
• Asia Pacific (APAC)
  • South Korea
  • China
  • India
  • Australia
  • Japan
  • Rest of Asia-Pacific
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM

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