Global IoT Sensor Market 2022-2028

Global IoT Sensors Market Size, Share & Trends Analysis by Type (Pressure Sensor, Temperature Sensor, Optical Sensor, Chemical Sensor, Image Sensor, Motion Sensor, and Others), by Technology (Wired and Wireless), and by Application (Consumer, Commercial, and Industrial) Forecast Period (2022-2028)

The global IoT Sensors market is anticipated to grow at a significant CAGR of 25.0% during the forecast period. The adoption of IoT has been accelerated by new developing applications and business models, as well as lower device costs. As a result, there is a slew of connected devices, including cars, machines, meters, wearables, and consumer electronics. Industry 4.0 initiatives in places such as Europe, China, and others are driving IoT deployments and, as a result, IoT sensors. According to Accenture, 60% of manufacturing organizations are already working on IoT projects, with more than 30% in the early stages of deployment. Furthermore, one of the major drivers driving IoT sensor use over the projection period is the reducing cost of the technology.

The global IoT sensors market is segmented based on type, technology, and application. Based on type, the market is classified into pressure sensors, temperature sensors, optical sensors, chemical sensors, image sensors, motion sensors, and others. The demand for pressure sensors is expected to grow significantly during the forecast period owing to their increasing application in industrial processes. Pressure gauges are being significantly utilized in industrial sites as it is better for pressure monitoring in closed environments.

The global IoT sensors market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the Asia-Pacific regional market is expected to cater to considerable growth during the forecast period owing to the emerging demand for IoT solutions coupled with the increasing digitalization in the region. The increasing number of smart city projects in China and India is offering an opportunity for market growth in the region.

The major companies serving the global IoT sensors market include Honeywell International Inc., Schneider Electric SE, Analog Devices, Inc., Texas Instruments Inc., and IBM Corp. among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, new launches, and partnerships. For instance, in July 2019, Samsung Electronics Ltd. declared the launch of more IoT or smart appliances that can be controlled using devices, including smartphones in India.

Research Methodology

The market study of the global IoT sensors market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global IoT Sensors Market Research and Analysis by Type.
2. Global IoT Sensors Reality Market Research and Analysis by Technology.
3. Global IoT Sensors Market Research and Analysis by Application.

The Report Covers

• Comprehensive research methodology of the global IoT sensors market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the IoT sensors market.
• Insights about market determinants that are stimulating the global IoT sensors market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.