Asia Pacific IoT Sensor Market to 2027 - Analysis and Forecasts by Type; Connectivity Type; and Application

The APAC IoT Sensor market accounted for US$ 2,939.2 Mn in 2018 and is expected to grow at a CAGR of 25.8% over the forecast period 2018-2027, to account for US$ 23,450.5 Mn in 2027. Factors including mounting demand of IoT and connected devices and growing adoption of consumer electronics is driving the APAC IoT Sensor market. The Government initiatives towards digitalization of economies in these countries are leading to the exponential growth of data traffic over the internet in these countries and also on a global scale for other developing economies. Vietnam and Singapore are other major countries embracing the path of digitalization and resulting in a massive influx of data over the internet. The market players are focusing on various initiatives to enhance its reach to rural areas and boost its position in the APAC IoT Sensor market.

The APAC IoT Sensor market is fragmented with the presence of several industries and the competitive dynamics in the market is expected to change during the upcoming years. In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the APAC IoT Sensor market further. For instance, the government of India started to Make in India initiative to boost the growth of various sectors such as automobile, textiles, construction, and aviation among others. The Indian Government is launching Make in India 2.0 which is the next round of make in India, and this initiative will focus on turning India into a global manufacturing hub. Major manufacturers are already in the way to incorporate AI in their existing network to procure higher productivity gains from automation technology including labor flexibility, reliable demand forecasting, better finish, and agile supply chain & inventory optimization. These initiative provide various benefits to the IoT Sensor manufacturing companies located in the region. These initiatives are implemented to enhance the technologies that positively impact on the APAC IoT Sensor market. These initiative provide various benefits to the IoT Sensor based companies located in the region thus, increasing the growth of APAC IoT Sensor markets. This is further expected to give the APAC IoT Sensor market players to cope up with the rapidly transforming industrial requirement. This initiative provides multiple benefits to the companies present in this region and thus increasing the growth of APAC IoT Sensor market.

Based on the connectivity type, the wireless segment is leading the APAC IoT Sensor market. Wireless technology caters remote applications in utility industries as sufficient assets are deployed in the field at utilities. During deployment of wireless connectivity, network coverage and environmental factors including testing interference are to be taken into consideration. For instance, electromagnetic fields generated through power lines might wreak havoc or interrupt on wireless networks. Some of the major wireless technologies are, Bluetooth, LoRaWAN, Z-Wave, Wi-Fi, and Zigbee among others. Wireless technologies perform at a faster rate and in a secure way compared with a wired solution. Currently, the market players are looking ahead to support the APAC IoT Sensor industry by innovating advanced technological components.

The overall APAC IoT Sensor market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the APAC IoT Sensor market. It also provides an overview and forecast for the IoT Sensor market based on all the segmentation provided for the APAC region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the IoT Sensor industry. Some of the players present in IoT Sensor market are Analog Devices, Inc., ARM Holdings PLC, Broadcom, Inc., Honeywell International, Inc., Infineon Technologies AG, NXP Semiconductors N.V., Omron Corporation, Robert Bosch Gmbh, STMicroelectronics N.V., and Texas Instruments Incorporated among others.