Global IoT sensor market was valued at USD 19.11 billion
in 2021 and is expected to project a robust growth during the forecast period, registering
a CAGR of 25.32% due to high adoption rate of IoT sensor across various
industries.
IoT
sensor is a device which provides an output with respect to a specific physical
quantity. IoT sensors are used to measure various physical quantities such as
temperature, pressure, humidity, soil moisture, heartbeat, and many more by
converting signals from one energy domain to the electrical domain. They are
used across various industries, including industrial automation, aerospace
& defense, education, entertainment, smart cities, smart buildings, etc.
Increasing
Demand for Connected Devices
Owing
to the increasing penetration of urbanization, the demand for connected devices
has increased globally. Smart wearable devices such as smart watches, fitness
bands, GPS tracking bands, trackers, etc. are used to collect and analyze the
data which helps in making smart decisions. Additionally, connected devices are
used in various sectors, such as defense, lifestyle, fitness, sports and others
for military command and control, to improve athletic performance, to monitor
progression, etc. Moreover, increasing consumer awareness and higher adoption
of connected devices in healthcare is likely to propel the global IoT sensor market.
Increasing
adoption rate of IoT in Healthcare
The increasing adoption
of IoT technology and solutions in the healthcare sector is expected to drive
the global IoT sensor market. Most healthcare organizations are shifting to IoT
solutions because of the benefits they provide, such as IoT devices like
sensors used to monitor the patient's heartbeat, hygiene monitoring, glucose
monitoring, and assisting in driving important insights related to various
healthcare disorders. Sensors are also used to track the real-time location of
medical equipment such as defibrillators, wheelchairs, oxygen pumps,
nebulizers, and other monitoring equipment, in addition to monitoring patients'
health. Furthermore, cloud computing integration with IoT is expected to boost
the global IoT sensor market.
The Emergence of Smart City
The emergence of the smart
city and the home automation have been gaining immense popularity worldwide.
Smart homes make operations such as allowing users to schedule, monitor and remotely
control home temperatures quickly and easily with the help of IoT sensors
and networked and voice-recognition devices. Additionally, building automation
increases the operational efficiency of buildings, leading to fewer emissions
from building operations. There are various factors instrumental in giving
traction to the smart city concept. On the one hand, individuals and businesses
have been increasingly relying on the Internet of Things (IoT) and connected
devices to perform the daily functions in their homes. On the other hand,
governments worldwide have been pressing on the concept of green and
energy-efficient cities, which are likely to contribute to fulfilling
commitments such as reduction of carbon footprint and net zero emissions from
buildings by 2050. For instance, 28 cities, mostly in North America and Europe
such as Portland, London, Los Angeles, to name a few, have signed up for the
‘Net Zero Carbon Buildings Commitment’ led by the ‘World Green Building
Council.’ Such factors are expected to boost demand for various connected
devices essential for building automation, thus benefitting the global IoT sensor
market.
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Market Segmentation
The Global IoT sensor market
is segmented
based on sensor type, application, network type, region, and competition. Based
on sensor type, the market is further fragmented into pressure sensor, temperature
sensor, light sensor, chemical sensor, motion sensor, others (touch sensor,
proximity sensor).
Based on application, the market is segmented into industrial automation, connected
& smart home, smart cities, healthcare, retail, connected cars, aerospace &
defense, smart agriculture, others (smart energy, smart supply chain). Based on
network type, the market is segmented into wired and wireless. Based on region
the market is divided into North America, Europe, Asia Pacific, MEA, and South
America. While the United States IoT Sensor Market stood at USD 3.81 billion
in the year 2021 and is projected to grow at a CAGR of 24.92% during the
forecast period.
Company Profiles
Texas Instruments, Broadcom
Corporation, Murata Manufacturing, Invensense, Inc, Infineon Technologies AG, TE
Connectivity, Infineon Technologies AG, ST Microelectronics, Siemens AG, Honeywell
International, Inc, onsemi, Microchip Technology, Inc, Omron Corporation, Analog
Devices, Inc are among the major market players in the Global IoT sensor market.
|
Attribute
|
Details
|
|
Market
size value in 2021
|
USD
19.11 billion
|
|
Revenue
Forecast in 2027
|
USD 73.75 billion
|
|
United
States Market size value in 2021
|
USD
3.81 billion
|
|
Growth
Rate
|
25.32%
|
|
Base
Year
|
2021
|
|
Historical
Years
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2017 –
2020
|
|
Estimated
Year
|
2022
|
|
Forecast
Period
|
2023 – 2027
|
|
Quantitative
Units
|
Revenue
in USD billion, volume in million units and CAGR for 2017-2021 and 2022E-2027F
|
|
Report
Coverage
|
·
Revenue forecast, company share, competitive landscape, growth
factors, and trends
|
|
Segments
Covered
|
·
Sensor Type
·
Application
·
Network Type
|
|
Regional
Scope
|
North America,
Asia-Pacific, Europe, Middle East & Africa, South America
|
|
Country
Scope
|
United
States, Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, China, Japan, South Korea, India, Australia, Saudi
Arabia, UAE, Egypt, Nigeria, South Africa, Brazil, Colombia, Argentina
|
|
Key
Companies Profiled
|
Texas
Instruments, Broadcom Corporation, Murata Manufacturing, Invensense, Inc,
Infineon Technologies AG, TE Connectivity, Infineon Technologies AG, ST
Microelectronics, Siemens AG, Honeywell International, Inc, Onsemi, Microchip
Technology, Inc, Omron Corporation, Analog Devices, Inc
|
|
Customization
Scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and Purchase Options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/pdf
format on special request)
|
Report Scope:
In this report, Global IoT sensor market
has been segmented into following categories, in addition to the industry
trends which have also been detailed below:
- Global IoT Sensor Market, By Sensor Type:
o Pressure Sensor
o Temperature Sensor
o Light Sensor
o Chemical Sensor
o Motion Sensor
o Other Sensors (Touch Sensor,
Proximity Sensor)
·
Global IoT Sensor Market, By Application:
- Industrial Automation
- Connected & Smart Home
- Smart Cities
- Healthcare
- Retail
- Connected Cars
- Aerospace & Defense
- Smart Agriculture
- Others (Smart Energy, Smart Supply Chain)
- Global IoT Sensor
Market, By Network Type:
·
Global IoT Sensor Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- Egypt
- Nigeria
- South Africa
- South America
- Brazil
- Argentina
- Colombia
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Global IoT sensor market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
Detailed analysis and
profiling of additional market players (up to five).