IoT Sensors Market to be Worth $56.8 Billion by 2030

According to a new market research report titled "IoT Sensors Market by Offering (Image Sensors, RFID Sensors, Biosensors, Humidity Sensors, Optical Sensors, Others), Technology (Wired, Wireless), Sector (Manufacturing, Retail, Consumer Electronics, Others), & Geography- Global Forecast to 2030", the global IoT sensors market is expected to grow at a CAGR of 22.7% from 2023 to 2030 to reach $56.8 billion by 2030.
IoT sensors are devices that collect data from the physical world and transmit it to other devices or systems over the internet or a network. These sensors are a crucial component of IoT technology that gathers data such as temperature, humidity, motion, light, pressure, and distance, among others. IoT sensors are used in a wide range of applications, such as smart homes, industrial automation, smart cities, agriculture, environmental monitoring, healthcare, energy management, logistics, retail, and transportation.
Organizations are increasingly adopting IoT sensors for various applications such as monitoring, tracking, asset management, maintenance, and safety. As technology continues to advance, new and innovative uses for IoT sensors are emerging to increase efficiency and sustainability and improve quality of life across various domains. Factors such as the advent of Industry 4.0, increasing government initiatives for the adoption of IoT devices, and incorporation of IoT sensors in smart cities are further supporting the growth of the IoT sensor market.

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Proliferation of Smart Cities is Offering Growth Opportunities for the IoT Sensors Market
Smart cities offer a multitude of opportunities for implementing IoT sensors. Smart cities leverage advanced technologies to enhance residents' quality of life and the efficiency, sustainability, and safety of city infrastructure and operations. IoT sensors cater to various applications in smart cities, such as:
• IoT sensors are used in traffic lights, roads, and vehicles to collect data on traffic flow, congestion, and road conditions. This data is used to optimize traffic signals, reduce congestion, and improve overall transportation infrastructure.
• Sensors in buses, trains, and transit stops provide real-time information to commuters about arrivals and departures. This improves the user experience and encourages the use of public transportation.
• IoT sensors in buildings and streetlights monitor energy consumption to optimize energy use, reduce costs, and minimize environmental impacts through efficient energy management.
• IoT sensors are used to evaluate air quality and measure noise levels and other environmental parameters, helping smart cities promptly respond to pollution and other environmental concerns.
• IoT sensors in water distribution systems detect leaks and monitor water quality to help conserve water resources, improve water quality, and reduce losses.
• IoT sensors provide real-time data for emergency response in cases of accidents, fires, or vandalism in public spaces. They also enable surveillance for security purposes.
• Sensors help drivers find available parking spots, reducing traffic congestion and air pollution caused by vehicles searching for parking.
• IoT sensors are used in weather monitoring as they provide real-time data for disaster preparedness and response, such as flood and storm warnings.
These sensors help collect real-time data, which, when analyzed and acted upon, can lead to more informed, efficient, and responsive urban management and governance.
Furthermore, the number of smart cities is increasing globally. Thus, the implementation of smart cities is expected to boost the adoption of IoT sensors, generating growth opportunities for the players operating in this market.

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Based on offering, the global IoT sensors market is segmented into humidity sensors, temperature sensors, proximity sensors, pressure sensors, image sensors, gas sensors, level sensors, accelerometer sensors, flow sensors, biosensors, RFID sensors, optical sensors, and other IoT sensors. In 2023, the image sensors segment is expected to account for the largest share of the IoT sensors market. The large market share of this segment is attributed to the rising demand for image sensors in mobile devices and increasing developments by market players in this market. Moreover, this segment is also projected to register the highest CAGR during the forecast period.

Based on technology, the global IoT sensors market is segmented into wired technology and wireless technology. In 2023, the wireless technology segment is expected to account for the larger share of the IoT sensors market. The large market share of this segment is attributed to the increasing use of wireless sensor networks for various applications and the increasing adoption of IoT devices across various sectors. The demand for wireless IoT sensors is increasing as they require less maintenance and power. Moreover, this segment is also projected to register the highest CAGR during the forecast period.

Based on sector, the global IoT sensors market is segmented into agriculture, manufacturing, retail, energy & utilities, oil & gas, transportation & logistics, healthcare, consumer electronics, and other sectors. In 2023, the manufacturing segment is expected to account for the largest share of the IoT sensors market. The large market share of this segment is attributed to the supportive government initiatives aimed at promoting the adoption of IoT devices in manufacturing, the rising adoption of smart manufacturing across developing countries, and the increasing number of smart factories. However, the healthcare segment is projected to register the highest CAGR during the forecast period.

Based on geography, Asia-Pacific is expected to account for the largest share of the IoT sensors market in 2023. The large market share of this segment is attributed to the surging demand for smart sensor-enabled wearable devices, growing technological advancements in industrial sensors, increasing adoption of industrial robots, the advent of Industry 4.0, and increasing adoption of IoT devices in the manufacturing and healthcare industries. Moreover, this region is also projected to register the highest CAGR during the forecast period.

The key players operating in the IoT sensors market are Texas Instruments Incorporated (U.S.), TE Connectivity Ltd. (Switzerland), STMicroelectronics N.V. (Switzerland), OMRON Corporation (Japan), Honeywell International Inc. (U.S.), Murata Manufacturing Co., Ltd. (Japan), Bosch Sensortec GmbH (Germany), Analog Devices, Inc. (U.S.), NXP Semiconductors N.V. (Netherlands), Infineon Technologies AG (Germany), Broadcom Inc. (U.S.), and TDK Corporation (Japan).

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Scope of the Report
Market Assessment by Offering
• Image Sensors
• Biosensors
• RFID Sensors
• Accelerometer Sensors
• Flow Sensors
• Pressure Sensors
• Optical Sensors
• Humidity Sensors
• Temperature Sensors
• Level Sensors
• Proximity Sensors
• Gas Sensors
• Other IoT Sensors
Market Assessment by Technology
• Wireless Technology
o Wi-Fi
o Bluetooth
o Zigbee
o Z-Wave
o Other Wireless Technologies
• Wired Technology
Market Assessment by Sector
• Manufacturing
o Surveillance & Safety
o Machine Inspection & Maintenance
o Smart Robotics
o Production Planning
o Inventory & Warehouse Management
o Other Manufacturing Applications
• Transportation & Logistics
o Traffic Management
o Fleet Management
o Parking Management
o Telematics
o Other Transportation & Logistics Applications
• Retail
o Customer Experience Management
o Operations Management
o Inventory Management
o Other Retail Applications
• Healthcare
o Telehealth/Telemedicine
o Hospital Operations & Workflow Management
o Remote Patient Monitoring
o Medical Devices
o Other Healthcare Applications
• Oil & Gas
o Remote Monitoring
o Worker Safety & Security
o Predictive Maintenance
o Asset Tracking and Management
o Other Oil & Gas Applications
• Energy & Utilities
o Smart Grid Management
o Predictive Maintenance
o Asset Management
o Security And Safety
o Other Energy & Utility Applications
• Consumer Electronics
o Home Automation
o Smart Wearables
o Security & Safety
o Other Consumer Electronics Applications
• Agriculture
o Crop Monitoring
o Livestock Monitoring
o Smart Irrigation
o Inventory Management
o Weather Tracking and Monitoring
o Other Agricultural Applications
• Other Sectors
Market Assessment by Geography
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific
• North America
o U.S.
o Canada
• Europe
o Germany
o France
o U.K.
o Italy
o Spain
o Rest of Europe
• Middle East & Africa
• Latin America

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