IoT Sensor Market: Global Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast, 2017-2023

Global IoT Sensor Market, By Component (Hardware, Software), By Type (Proximity, Acoustic, Temperature, Pressure, Flow, Humidity, Inertial, Image, Motion, CO2, Gyroscope, Occupancy, Magnetometer), By Network Technology, By Vertical - Forecast 2023

Market Highlights:
In this rapidly changing world of technology, IoT Sensor market is projected to show major growth prospects during the forecast period. Major factor driving the IoT sensor market is the increasing adoption of internet of things devices and growing popularity of smart watches and other smart wearable’s.
The global IoT sensor market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World. As compared to other regions, the IoT Sensor market in North America is expected to witness significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of IoT Sensor market.

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This is owing to the presence of large number of established key players like IBM Corporation and Texas Instruments and growing demand for wearables and smart devices in that region. In addition to this, the region also has a well-established infrastructure which allows higher penetration of devices and ultimately provides better connectivity. Increasing demand for connected devices is expected to be a major factor for the growth of IoT sensor market. Growing demand for digital signage and other are other factors driving the growth of IoT Sensor market in the region.

In the global IoT Sensor market, Asia Pacific is anticipated to witness relatively faster adoption and is expected to grow at the highest CAGR during the forecast period as compared to other regions. Within Asia Pacific, IoT Sensor market is projected to contribute faster to the growth of revenue backed by increasing demand for mobile devices and growing need for internet of things devices in countries such as Japan, China, South Korea and India. This is owning to the presence of key players like Sony Corporation in the region.

The IoT sensor market is growing rapidly over 42% of CAGR and is expected to reach at approx. USD 40 Billion by the end of forecast period.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “IoT Sensor MarketResearch Report-Forecast to 2023”.

IoT Sensor Market Segmentation:

The IoT sensor market has been segmented on the basis of component, type, network technology and vertical. The vertical segment is broadly bifurcated into commercial IoT, consumer IoT and industrial IoT. Out of which, the consumer IoT vertical is expected to hold the largest market share of IoT sensor market. Consumer IoT vertical is further bifurcated into home automation, smart city and wearable electronics. Increasing demand for smart wearables and growing popularity of internet of things devices is majorly driving the growth of IoT sensor market.

Major Key Players:
The prominent players in the IoT sensor market are – Texas Instruments Incorporated (U.S.), STMicroelectronics N.V. (Switzerland), TE Connectivity Ltd. (U.S.), Infineon Technologies Ag (Germany), Analog Devices, Inc. (U.S.), Broadcom Limited (U.S.), Robert Bosch GmbH (Germany), Johnson Controls International Plc. (Ireland), Sony Corporation (Japan), Honeywell International, Inc. (U.S.) among others.

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Market Research Analysis:
It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in IoT sensor market in North America is attributed to technical advancements and increasing use of mobile devices, tablets and smartphones in that region.

Intended Audience:
• Technology Investors
• Research/Consultancy Firms
• Infrastructure Providers
• Chip designers and fabricators
• Original equipment manufacturers (OEMs)
• Semiconductor Companies
• Embedded system companies
• Consumer Electronics Manufacturers
• Sensor Manufacturers
• Technology Providers
• Telecommunication companies
• Government Bodies

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