Market Research Report
Global IOT Sensors Market Forecast 2019-2027
|Published by||Inkwood Research||Product code||746150|
|Published||Content info||143 Pages
Delivery time: 2-3 business days
|Global IOT Sensors Market Forecast 2019-2027|
|Published: November 19, 2018||Content info: 143 Pages||
The global IoT sensors market is predicted to grow with 24.93% CAGR during the forecast period 2019-2027. The Internet of things (IoT) is a concept that refers to the idea of everyday physical objects being connected to the internet and being able to identify themselves to other devices. Each device represents themselves digitally and can connect not only to the users but also the surrounding objects and can communicate intelligently.
Sensors are the prime constituent of the IoT and are its foremost hardware that carries out the critical work of monitoring procedures, quantifying the measurements and data collection.
It has been observed that increasing internet penetration, reinforcing industrial applications of IoT sensors, the cost reduction and fast adoption of smart devices, leading to the growing demand for these wearables and connected smart devices, are proliferating the global IoT sensors market.
Moreover, concerns about reliability and data security and interoperability of sensors, are affecting the IoT sensor market. Implementation of government initiatives that reinforces IoT usage can facilitate market growth. The market has been segmented by sensor type and by the application.
The global IoT sensor market envelops North American region, European region, Asia Pacific region and the rest of the world that includes Latin America and the Middle East and African region.
As of now, the North American region has the largest share of the IoT sensor market and is expected to remain on the top for the duration of the forecasted period. The United States has been valued the highest. Factors like increasing adoption of cloud storage and reduction in the cost price of wireless devices are further driving the IoT sensor market.
The major market players of the global IoT sensors market are Texas Instruments, Broadcom Inc., NXP Semiconductors, STMicroelectronics, Bosch Sensortec, TDK InvenSense, Infineon Technologies, Analog Devices, Omron Adept Technologies, TE Connectivity and ORIMtec.