IoT Sensor Market Revenue, Status and Precise Outlook 2022 to 2027

The IoT Sensor Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the IoT Sensor Market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the IoT Sensor Market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the IoT Sensor Market.

The global IoT Sensor market is expected to register a CAGR of 24.05% during the period of 2022-2027. 

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Top Leading Companies of IoT Sensor Market are - ABB Ltd, Schneider Electric SE, TE Connectivity, Robert Bosch GmbH, OMRON Corporation, Sensata Technologies, Honeywell International Inc., TDK Corporation, STMicroelectronics NV, Texas Instruments Inc. and others.

Industry News and Updates:

- July 2022: Texas Instruments Incorporated launched the industry's first zero-drift Hall-effect current sensors TMCS1100 and TMCS110. According to the company, the new sensors can enable the lowest drift and highest accuracy over time temperature. In contrast, they are providing reliable 3-kVrms isolation, which is especially important for AC or DC high-voltage systems such as industrial motor drives, solar inverters, energy storage equipment, and power supplies.

- March 2022: TE Connectivity acquired the majority share of First Sensor AG and now holds 71.87% share. In combining the First Sensor and TE portfolios, TE can now offer an even broader product base, including innovative, market-leading sensors, connectors, and systems plus best-in-class capabilities that supports the growth strategy of TE's sensors business and TE Connectivity as a whole.

Key Market Trends:

Automotive and Transportation Industry to Drive the Market Growth

- The automotive sector across the globe is steadily transitioning toward an autonomous era, owing to the recent business collaborations and joint ventures among automotive giants, cybersecurity providers, chip makers, and system integrators.
- This indicates the inevitable advent of highly (Level 4) and fully (Level 5) autonomous vehicles, at the earliest, by 2022. Vehicle connectivity is expected to become necessary for proper communication among vehicles for 'decision-making' proper assimilation and comprehension of visual, geographical, audio, and other data.

North America to Account for a Significant Market Share

- North America is one of the largest markets, due to the presence of several established vendors in the region and the earliest adoption of IoT technology in various industries. Most of the companies in this region are increasingly adopting IoT to keep track of their offering's performance, thus, avoiding costly breakdowns or inefficient routine maintenance shutdowns.
- The usage of IoT in the region is also significantly driving the studied market. For instance, according to a study by Stanford University and Avast, North American homes have the highest density of IoT devices in any region in the world. Notably, 66% of homes in the region have at least one IoT device. Additionally, 25% of North American homes boast more than two devices.

Investigator Observers Strong Growth in Specific Regions:

- Europe Market (Germany, UK, France, Russia, Italy)

- Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)

- South America Market (Brazil, Argentina, Colombia)

- North America Market (United States, Canada, Mexico)

- Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).

The Latest Industry Data Included in this Report:
- IoT Sensor Market Size & Analysis (2016 - 2026)
- Market Share Analysis of IoT Sensor Market (%),2016 - 2026
- IoT Sensor Market Share, By Brand
- IoT Sensor Market Share, By Company
- IoT Sensor Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies IoT Sensor Market Value Analysis & Forecast
- Promising IoT Sensor Market Development by Major Companies
- Detailed IoT Sensor Market Portfolio of the Major Companies
- Major Deals in the IoT Sensor Market
- Major Companies Analysis

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