According to the new market research report "IoT Sensors Market
by Type (Pressure, Temperature, Humidity, Magnetometer, Accelerometer,
Gyroscope, Inertial, Image), Network Technology (Wired & Wireless),
Vertical (Consumer IoT, Commercial IoT, Industrial IoT), and Region -
Global Forecast to 2022", the IoT sensors market is expected
to reach USD 38.41 Billion by 2022, growing at a CAGR of 42.08% between
2016 and 2022. The major factors driving the growth of the IoT sensors
market include development of cheaper, smarter, and smaller sensors,
growing market for smart devices and wearables, need for real-time
computing of applications, increase in demand for IoT sensors in
various applications, supportive government initiatives, deployment of
IPv6, and role of sensor fusion concept in IoT sensors market.
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Browse 70 market data Tables and 91 Figures spread through 247 Pages and in-depth TOC on "IoT Sensors Market - Global Forecast to 2022"
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“IoT sensors market for consumer IoT vertical expected to grow rapidly during the forecast period”
According to the research report, the consumer IoT
vertical has been segmented into home automation, smart city, and
wearable electronics. Home automation includes consumer devices (smart
TVs, home theater projectors, next-gen game console, and set-top boxes)
and consumer appliances (washing machine, refrigerator, oven,
dishwasher, and robot vacuum cleaner). Smart appliances, also known as
intelligent appliances, have the ability to measure and control their
energy usage and communicate the same with homeowners and utilities
departments. Additionally, the major factors driving the wearable
devices market for IoT sensors include the growing popularity of IoT and
the increasing adoption of smart watches and activity trackers in the
consumer markets.
“Pressure sensor market to hold major share between 2016 and 2022”
The market for pressure sensors is expected to hold
major share during the forecast period. This is mainly because their
wide usage in a variety of application including medical applications,
smart cities, wearable, environmental monitoring devices, remote
sensing, industrial automation, air speed, air sampling, and leak
detection. Various applications of industrial automation,
transportation, healthcare, and consumer electronics need constant
tracking and analyzing which is mostly done with the help of pressure
sensors.
“APAC expected to grow at the highest rate during the forecast period”
Sensors are increasingly being demanded in APAC owing
to the growing demand for automotive and increasing focus of the region
towards IoT platform. In this study, the APAC market has been divided
into India, China, Japan, South Korea, Australia, and Rest of APAC.
Asia-Pacific is a major market for various sectors such as consumer
electronic devices and appliances, automobiles, and healthcare among
others. Moreover, the Asia-Pacific region is one of the potential
markets for the industrial and consumer IoT verticals as countries such
as China, India, and Australia among others are actively trying to
strengthen the IoT platform.
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Major companies involved in the development of IoT
sensors include Texas Instruments Incorporated (U.S.),
STMicroelectronics N.V. (Switzerland), TE Connectivity, Inc.
(Switzerland), NXP Semiconductors N.V. (Netherlands), Broadcom Limited
(U.S.), Robert Bosch GmbH (Germany), InvenSense, Inc. (U.S.), Infineon
Technologies (Germany), ARM Holdings Plc. (U.K.), Omron Corporation
(Japan), Sensirion AG (Switzerland), Analog Devices, Inc. (U.S.),
SmartThings, Inc. (U.S.), and KONUX Inc. (Germany) among others.
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Email: sales@marketsandmarkets.com