According to the latest market research report "IoT Sensors Market
by Sensor Type (Pressure, Temperature, Humidity, Magnetometer,
Gyroscope, Accelerometer, Image, Inertial), Network Technology (Wired
and Wireless), Vertical (Consumer, Commercial, Industrial), and
Geography - Global Forecast to 2023", the IoT sensors market is
expected to be valued at USD 5.28 billion by 2018 and is projected to
reach USD 22.48 billion by 2023, at a CAGR of 33.60% between 2018 and
2023. Major factors that drive the growth of the IoT sensors market
include increased use of sensors in IoT devices and other applications
owing to their reduction in size, plummeting costs, and technological
advancements; introduction of 3 GPP Release 13 and Release 14
specifications; growth in internet penetration rate; high demand for
connected and wearables devices; introduction of IPv6 creating larger
address space; and importance of real-time computing for IoT
applications.
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Browse 66 market data Tables and 56 Figures spread through 213 Pages and in-depth TOC on "IoT Sensors Market"
The
companies profiled in this report are Texas Instruments (US), TE
Connectivity (Switzerland), Broadcom (US), NXP Semiconductors
(Netherlands), STMicroelectronics (Switzerland), Bosch Sensortec
(Germany), TDK (Japan), Infineon Technologies (Germany), Analog Devices
(US), Omron (Japan), Sensirion (Switzerland), Honeywell (US), Siemens
(Germany), General Electric (US), SmartThings (US), Monnit (US), Murata
Manufacturing (Japan), Sensata Technologies (US), Silicon Laboratories
(US), and Libelium (Spain).
Pressure sensors to hold largest share of IoT sensors market during forecast period
Pressure
sensors are expected to hold the largest size of the IoT sensors market
by 2023. The market for pressure sensors is largely driven by the
increased concerns regarding safety, comfort levels, and reduction in
automobile emissions. The regulatory mandates requiring the compulsory
installation of onboard diagnostics to reduce greenhouse gas emissions
will further lead to the growth in the demand for pressure sensors.
Wireless network technologies to hold larger share of IoT sensors market during forecast period
Wireless
network technologies are expected to hold a larger size of the IoT
sensors market during the forecast period. The market for wireless
network technology would be driven by the proliferation of mobile
devices and rapidly increasing adoption of the bring-your-own-device
(BYOD) concept as well as IoT within enterprises. The upcoming 5G
cellular wireless technology is expected to provide much faster internet
connectivity and coverage, which would also boost the market of
wireless network technologies.
IoT sensors market for consumer vertical to grow at highest CAGR during forecast period
The
IoT sensors market for consumer vertical is expected to grow at the
highest CAGR between 2018 and 2023. The market is driven by the
increased adoption of smart devices in home automation, smart cities,
and wearables. The technological developments are leading to the
advancements in consumer electronics such as smart home appliances and
smart TV. Furthermore, the increasing involvement of domestic as well as
multinational players to boost the IoT infrastructure has further
fueled the growth of IoT across the globe, which would boost the demand
for IoT sensors.
North America to hold largest share of IoT sensors market by 2018
North
America is expected to hold the largest share of the IoT sensors market
by 2018. The increasing internet usage in technologically advancing
economies as well as the growing adoption of wireless sensors and
networks across major applications such as industrial, automotive and
transportation, healthcare, oil & gas, and consumer electronics
propel the growth of the IoT sensors market.
This
report describes the market trends, drivers, restraints, opportunities,
and challenges for the IoT sensors market and forecast till 2023. The
report also includes the value chain analysis of the market along with a
detailed view of the market across 4 major regions North America,
Europe, Asia Pacific, and Rest of the World (South America and MEA). The
report profiles the 20 most promising players in the IoT sensors
market.
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