IOT Sensors Market Expected to Reach USD 58794.12 million by 2030 | Business Intelligence Insights (BII)
Published By Business Intelligence Insights LLP [English], Wed, Dec 7, 2022 10:19 PM
As per Business Intelligence Insights (BII) study, the Global IOT Sensors Market attained revenue growth of USD 8,210.50 million in 2021 and it is projected to reach around USD 58794.12 million by 2030, growing at a 27.90% CAGR.
Increasing demand for integration of Industrial IoT (Iao) in sectors that demand sensor-based measurements for observations and decision support purposes to projected to drive the expansion of the IoT sensors market in the forecast period. With the expansion of fields in which sensors play an essential role, the market for sensors continues to expand. Sensors for the Iota technology are used in practically every industry. One of the primary reasons driving market expansion is the rising need for automation across various business verticals. In addition, infrastructure technologies such as smart grids, smart homes, smart water networks, and intelligent transportation are linked by the Internet of Things (IoT), which makes heavy use of sensors.
The increase in demand for IoT sensors in the creation of smart cities is expected to provide lucrative opportunities for the IoT sensors industry to expand during the forecast period. Moreover, Key players are promoting regional development and the acquisition of semiconductor manufacturing companies as strategies to increase IoT sensor sales.
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IOT Sensors Market: Companies Mentioned
• Texas Instrument (US)
• TE Connectivity (Switzerland)
• Broadcom (US)
• NXP Semiconductors (Netherlands)
• STMicroelectronics (Switzerland)
• Bosch Sensor Tec (Germany)
Key Highlights of the Report
• Industrial as a Vertical led the IOT sensors market with the highest revenue share of 54.7% in 2021, The industrial IoT category, which includes industrial automation, energy, transportation, healthcare, and smart agriculture, leads the market. Sensors are used for numerous processes in industrial applications such as factory automation, compressors, hydraulics, and pneumatics. Sensors can detect physical, chemical, and biological signals and can be used to measure and record a variety of patient physical parameters.
• IOT sensors come in a variety of forms, including. Wi-Fi, Wireless, Bluetooth, ZigBee, NFC, Z-Wave, RFID others. Wireless technology are the most common technology and accounting for more than 50% in 2021 in the global IOT sensors sector. The market has been growing steadily, and with key players increasingly adopting strategies, the market is predicted to rise throughout the forecast period. Wireless IoT Sensors Market Development Trends and Marketing Channels are explored. Also, in 2021, the expansion of 5G activities, expanding IoT commercialization, and smart city development will continue to advance and accelerate.
• The Asia-Pacific IOT sensors market increased rapidly in both developed and developing countries with more than 35% of the market share due to the increasing demand for IoT sensors and technical advancements. Furthermore, one of the primary factors driving the market growth is the increased internet penetration and smart city initiatives in Asia Pacific cities. Demand for IoT equipment and sensors has increased sharply in major economies in Indian, China and the and New Zealand, providing potentially significant growth opportunities for market players.
• The report contains qualitative and quantitative research on the global IOT sensors Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
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Revenue-generating Segment Highlights:
By Sensor Type
• Temperature Sensor
• Pressure Sensor
• Humidity Sensor
• Flow Sensor
• Inertial Sensor
• Image Sensor
• Touch Sensor
• Proximity Sensor
• Acoustic Sensor
• Motion Sensor
• Occupancy Sensor
• CO2 Sensor
• Others (Light sensor, and Radar sensor)
By Network Technology
• Glow PAN
• Forces field bus
• Others (ANT+, ISA100, GPS, Sub-Gig, and Cellular)
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
o Brazilo Mexico
o Rest of Latin America
• Middle East and Africa
o South Africa
o Rest of Middle East and Africa (MEA)
Ready to generate outstanding revenue opportunities with ‘Business Intelligence Insights (BII)’ exclusive IOT Sensors market study. Highlights of the overall market will be included in the research, as well as frequently asked questions such as –
• What are the historical and projected revenue figures, as well as the CAGR, for the forecast period?• What is the current trend taking place in the market space?
• What are the business techniques that will influence competitive scenarios as well as the market's growth potential?
• What market drivers, restraints, and challenges are influencing market demand and growth?
• In the approaching years, which regions and segments will generate significant revenue and emerge as industry leaders?
The IOT Sensors Market report's competitive scenario examines, assesses, and positions firms based on a variety of performance characteristics. The financial performance of organizations over the last few years, growth plans, product innovations, new product launches, investments, market share growth, and so on are some of the elements analyzed in this research. Don't wait any longer; take a comprehensive approach and achieve your business objectives with our IOT Sensors Market Forecast Report 2022- 2030 - Order Now!
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