The new report by Expert Market Research titled, ‘Global IoT Sensor Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the global IoT sensor market price, assessing the IoT sensor market based on its segments like types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
Get a Free Sample Report with Table of Contents – https://www.expertmarketresearch.com/reports/iot-sensor-market/requestsample
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): About USD 9.45 billion
• Forecast CAGR (2023-2028): 25.30%
• Forecast Market Size (2027): Nearly USD 36.59 billion
The automotive sector is expected to be a significant area of application for IoT sensors in the coming years. This can be ascribed to the introduction of autonomous and electrical vehicles that rely on digital technologies. In addition, the market is further benefitting from the increasing demand for automation in conventional vehicles. Further, IoT sensors are deployed in different applications such as ADAS systems, vehicle lights, and vehicle cameras, among others, thereby contributing to the market growth.
Developments in advanced driver assistance systems (ADAS) such as notifying drivers in case of obstacles, improved parking, and vehicle location are also anticipated to push the market growth. Moreover, the increased demand for connected vehicle solutions to provide improved connectivity with compatible smart devices for in-vehicle infotainment is anticipated to be a significant factor determining the market growth during the forecast period.
Industry Definition and Segmentation
IoT sensors are defined as devices that help in the detection of external information and replace it with signals that can be understood and distinguished by humans and machines. These sensors are capable of measuring physical phenomena including pressure, temperature, or obstacles, among others, and then converting those into electrical signals. IoT sensors are used in a variety of applications such as logistics, industrial, automotive, healthcare, retail, and agriculture, among others.
On the basis of type, the market can be divided into:
Based on application, the market can be classified into:
• Building Automation
• Retail and Logistics
The regional markets for IoT sensors include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The growth in the global market for IoT sensors is being driven by the rapid digitisation of end-use sectors. The rising deployment of IoT technology across sectors owing to its multifaceted application potential is augmenting the demand for IoT sensors, thereby propelling the growth of the market. In addition to this, the rise in per capita incomes and the subsequent rise in living standards has led to increased adoption of home automation solutions such as IoT-enabled smart speakers, home security, and lighting systems, among others.
This is fuelling the demand for IoT sensors, hence driving the market development. Further, in the healthcare sector, the increasing penetration of wearable devices like oximeters, ECG monitors, and smartwatches to continuously monitor patients’ oxygen levels, heart rate, and sleeping patterns, among others, are favouring the market growth of IoT sensors. Such developments are positively influencing the growth of the market.
Key Market Players
The major players in the market are ABB Ltd, Texas Instruments Incorporated, TE Connectivity, Schneider Electric SE, and Omron Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Acute Coronary Syndrome Treatment Market: https://www.expertmarketresearch.com/reports/acute-coronary-syndrome-treatment-market
Latin America Paints and Coatings Market: https://www.expertmarketresearch.com/reports/latin-america-paints-and-coatings-market
Latin America Ice Cream Market: https://www.expertmarketresearch.com/reports/latin-america-ice-cream-market
Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.
EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.
Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.
Company Name: Claight Corporation
Contact Person: Sophia Grace, Business Consultant
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA