North American IoT Sensor Market is Expected to Witness High Growth By 2025

The North American region is witnessing a growth in the IoT sensor market due to the high adoption of smart solutions in various sectors such as health care, automotive, and industrial. The U.S. government has made significant investments in smart cities development, which will lead to the high implementation of these components, further supporting the industry demand. The demand for IoT consumer devices, such as security cameras and smart home devices, is increasing in the U.S. and Canada due to the growing concerns regarding household safety and comfort.

In the IoT sensor market, wireless technologies are gaining high traction and the implementation of such technologies reduces the maintenance cost of the network. Features of these technologies provide ease and remote accessibility of connected components and devices. Additionally, the wireless technologies provide ease of relocation of connecting devices without any additional cost. Increasing uninterrupted high-speed internet connection is supporting the implementation of wireless technology in IoT components, leading to industry expansion.

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The demand for IoT technologies is increasing in small and medium-sized businesses to collect more detailed business insights through IoT devices. Companies operating in the IoT sensor market are introducing new smart sensors for industrial & enterprise applications. For instance, In November 2018, Texas Instruments launched a new range of smart sensors for use in industrial and enterprise IoT deployments. The increasing demand for wearable devices in the North American and European countries due to the growing concerns regarding health and fitness is driving the IoT Sensor Market growth.

IoT sensors are integrated into wearable and connected devices to monitor various elements such as temperature, pulse, and movement. The major factor hindering the IoT sensor market is the data security concern. The devices and components connected in the IoT network are utilized to make smart decisions. Another factor affecting the industry growth is the regular calibration of components with devices and network. Additionally, these components tend to underperform in the presence of humidity, air pressure, and other such atmospheric changes.

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The IoT sensor market is gaining popularity due to its increasing adoption in small- and medium-sized businesses. It can be attributed to the features including predictive maintenance for IoT applications and devices. An upcoming trend in the industry is the introduction of IPv6, which is designed to provide larger address space during communication between devices. The availability of IPv6 is expected to support faster and efficient communication of connected devices.

The key players operating in the market include Infineon Technologies, Robert Bosch GmbH, Sensirion, Honeywell, Siemens, General Electric, Smartthings, Sensata Technologies, Libelium, and Murata Manufacturing. These players in the industry are focusing on M&A activities and partnerships & collaboration

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