Global IOT Sensors Market Size 2024, Forecast To 2033
16 Jan, 2024
The IoT sensors market has witnessed exponential growth, soaring from $9.6 billion in 2023 to $12.37 billion in 2024 at a 28.8% CAGR. This expansion is attributed to connectivity advancements, data analytics, cost reduction, smart cities, and industrial IoT (IIoT). Projected to reach $27.38 billion in 2028 at a 22.0% CAGR, the forecast period emphasizes 5G connectivity, edge computing, AI, machine learning, security and privacy, and energy harvesting. Key trends include miniaturization, multi-sensor integration, IoT sensor ecosystems, environmental and sustainability monitoring, and healthcare and wearable sensors.
Global IOT Sensors Market Key Driver
The rise in IoT use cases increases demand for IoT services. IoT finds applications in manufacturing, farming, smart cities, transportation, and more, requiring services like consulting, data management, and network security. Telit's IoT security system exemplifies the importance of services in controlling and monitoring surveillance. Increasing IoT use cases drive market growth for IoT services.
Get A Free Sample Of The Global IOT Sensors Market ReportGlobal IOT Sensors Market Segments
The iot sensors market covered in this report is segmented –
1) By Product Type: Temperature sensors, Pressure sensors, Humidity sensors, Flow sensors, Accelerometers, Magnetometers, Gyroscopes, Inertial sensors, Image sensors, Other Product Types
2) By Application: Building Automation, Industrial Application, Automotive Application, Healthcare Application, Retailing & Logistics Application, Security Application, Agriculture Application, Other Applications
3) By End-user Industry: Healthcare, Automotive and Transportation, Manufacturing / Industrial, Other End-Users
By Geography: The regions covered in the iot sensors market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the IoT sensors market in 2023. North America was the second-largest region in the IoT sensors market. The regions covered in the iot sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major IOT Sensors Industry Players
Texas Instruments, TE Connectivity, NXP Semiconductors, STMicroelectronics, TDK Corporation, Honeywell, Sensata Technologies, Broadcom, Bosch Sensortec, Analog Devices, Siemens, General Electric, Robert Bosch GmbH, Monnit, Murata Manufacturing, Sensirion, Silicon Laboratories, Asea Brown Boveri Limited, Schneider Electric SE, Qualcomm Technologies, Inc., International Business Machines, CANON MEDICAL SYSTEMS CORPORATION, Skyworks Solution Inc., Sierra Wireless, Moxa Inc, SmartThings, Libelium, Infineon Technologies, Parametric Technology Corporation, Intel, Omron, Cisco, Oracle, MongoDB, GE Digital, ARM IoT Security Company, Vention, Altoros, Oxagile, Innowise Group, Style Lab IoT Software Company, HQ Software Industrial IoT Company, ScienceSoft, DICEUS, Huawei
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IOT Sensors Market Overview
The internet of things, or IoT, is a collection of interconnected smart devices, mechanical and digital machines, objects, animals, or people supplied with unique identifiers (UIDs) and the ability to transmit data across a network without needing human-to-human or human-to-computer interaction. IoT sensors are used in healthcare, automotive, transportation, manufacturing, and other industrial sectors.
IOT Sensors Global Market Report 2023 provides data on the global iot sensors market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The iot sensors market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.