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IoT Sensors Market Size, Trends & Analysis - Forecasts to 2026 By Sensor Type (Temperature Type, Pressure Type, Humidity Type, Flow Sensor, Accelerometer, Magnetometer, Gyroscope, Inert Sensor, Image Sensor, Touch Sensor, Proximity Sensor, Acoustic Sensor, Motion Sensor, Occupancy Sensor and CO2 Sensor), By Network Technology (Wired and Wireless), By Vertical (Consumer Electronics, Building Automation, Healthcare, Automotive, Industrial and Retail); By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis and Competitor Analysis
The growth of the consumer electronics sector owing to the widespread use of consumer electronics devices across the globe for the fulfillment of various tasks. Consumer electronics consist of electronic devices such as tablets, PCs, smartphones, music players, etc. These devices have become an eminent part of everyone's life considering any age group, the application of these electronic devices has become a necessity for carrying out any task. These electronics have become smarter and smarter with the current and latest technology equipment advancement. The AI-supported applications have become relatively less costly. The market growth is also accounted to several semiconductor companies coming up with the latest inventions, attracting various participants for investments. The demand for wearable devices relates positively to the demand for IoT connected devices industry. These devices can help provide an opportunity for the growth of mobile technology which drives greater efficiency, improves workflow, and enhance communication. Another driver for the market growth is the advent of connected cars, enabling them to share data within the vehicle and outside the vehicle. The IoT applications have helped the automotive industry with a new set of products and features keeping all the perceptions of the traditional car at bay. The modern automotive features include sensors, controlling, lighting, software applications for automotive and these features are playable as per the requirements and are built-in features for the new edition cars. Advancing the research in autonomous and connected cars helps to further enhance the scope for integrated IoT sensors in modern vehicles.
The IoT sensors market comprises of application and sale of IoT sensors and devices used by healthcare, automotive, transportation, manufacturing, and other industries. IoT is a collection of interconnected smart devices. With the application for interconnection of smart devices, digital machines, objects, unique identification of people, and the capacity for transmitting data across without the interference of manpower or man to man interaction.
The need for data security concerns is the major factor hampering the growth of IoT sensors worldwide. The rise in technology has risen the rate of data intrusions. The IoT systems which are newly built lacks these safety requirements. And the protection of data is of greatest importance when providing analytical solutions across various verticals.
Artificial intelligence is the key latest trend in the IoT sensors market. as AI helps to assist IoT in data analysis by providing data accuracy for time series data, predictive and advanced analytics.
Based on sensorstype, the IoT sensors market comprises of Temperature Type, CO2 Sensor, Pressure Type, Occupancy Sensor, Humidity Type, Motion Sensor, Flow Sensor, Accelerometer, Acoustic Sensor, Magnetometer, Proximity Sensor, Gyroscope, Inert Sensor, Touch Sensor, and Image Sensor among others. The pressure sensors hold the dominant position for the market, as the application of the pressure sensors is driven by increasing concerns for safety, comfort level, and overtime reduction in automobile emissions. The increasing concerns for reducing greenhouse gas emissions will propel the demand. The increased application of these types of sensors for autonomous cars provides for overtime enhanced opportunities.
Based on technology type, the market is explained into wired technology and wireless technology. Wireless technology holds the largest share of the market by technology type. owing to the growing demand for wireless data transferring through smart devices and solutions. And its increased application in connected cars and smart grids. The latest advancement and adoption of 5G network services in mobile technology had provided internet at faster speeds and thus, creating more opportunistic demand for the IoT sensors market.
Based on the end-user, the global market is studied into Consumer Electronics, Retail, Building Automation, Industrial, Healthcare, and Automotive among others. The automotive sector is the dominant shareholder of the market by the end-user type. The IoT sensorschanged the automotive and transport sector and opened new opportunities for car manufacturers. Along with enhanced consumer, industrial and commercial use. The IoT provides enhanced data transmitting, communication, and control at any point of transportation.
The North American regionremains in the leading position for theIoT sensorsmarket in the global business. The growth is attributed to the extensive and well-established advanced technology infrastructure, leading to the extensive adoption of these IoT technology solutions and their easy adoption by the well-established manufacturers. The increasing adoption owes to the enabling of the companies for easy tracking of their performance offerings and increased adoption of IoT sensor technology. This also helps to cover up the costly breakdowns due to inefficient routine maintenance. The region also is home to the highest density of IoT device usage.
Followed by the European market and the APAC region accounting for moderate revenue generation and potential to grow at a faster rate owing to the region’s rapid expansion and economic development. The regions are expected to make for extensive adoptions of these IoT solutions for the automotive and medical industry, offeringcost-effective smart solutions for easy transmitting and handling of datafurther helping in easy data handling and analysis. Hence, fulfilling the requirements of its end-users.
Texas Instruments, Sensata Technologies, TE Connectivity, Murata Manufacturing, Broadcom, Monnit, NXP Semiconductors. SmartThings, STMicroelectronics, General Electrics, Bosch Sensortec, Siemens, TDK, Honeywell, Infineon Technologies, Sensirion, Analog Devices, and Omron among others are the key players.
Please note: This is not an exhaustive list of companies profiled in the report.
In July 2020, Texas Instruments launched the first-ever zero-drift hall-effect sensors. These enable for lowest drift and helps to maximize accuracy, this application is very important for AC high-voltages and also used for industrial motor drivers, inverters, and varied power supplies.
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The IoT Sensors Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the IoT Sensors Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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