The global IoT sensors market size reached USD 15.58 Billion in 2021 and is expected to register a revenue CAGR of 28.3% during the forecast period, according to latest analysis by Emergen Research. Rapid advancement in industrial technologies such as Industry 4.0 and Industrial Internet of Things (IoT) as well as increased implementation of IoT sensors owing to cost-effectiveness and compact design are a few of the key factors driving the market revenue growth. Surging demand for Micro-Electromechanical Systems (MEMS) for better consumer electronics is also contributing to revenue growth of the market.Rapid adoption of Internet of Things (IoT) and edge computing abilities for implementation of next-generation IoT in the industrial sector. Edge computing positively impacts Artificial Intelligence (AI), cloud, energy aggregation, manufacturing, precision farming, data centers, electro mobility, and autonomous vehicles.
The latest report titled ‘Global IoT Sensors Market,’ published by Emergen research, provides the reader with a comprehensive view of the global IoT Sensors industry, acquainting them with the latest market trends, industry insights, and market share. The report provides an in-depth investigation of the global market, largely focusing on each segment and sub-segment of the IoT Sensors market. The market forecasts included in the report are performed by our team of experts and are of great significance as they provide deep insights into various crucial industry parameters. These facts and figures help readers evaluate the global market growth, production, and consumption rates, volatility in demand and product prices, and upcoming market trends over the projected period. The market research report contains significant details on the global IoT Sensors market value based on market dynamics and various growth factors.
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Some Key Highlights From the Report
Pressure sensor segment accounted for a significant revenue share in 2021. Cost-effectiveness, higher durability, as well as good resistance to vibration, shock, and dynamic pressure changes are some of the major factors driving revenue growth of the segment. Also, the ability to operate at high temperatures and low response times is driving the demand for pressure sensors for various applications such as fluid mechanics, aerodynamics, thermodynamics, soil mechanics, and biophysics. Additionally, integration with an IoT system, allow pressure sensors such as piezo sensors to detect real-time pressure fluctuations which are driving demand for pressure sensors, specifically in the industrial sector.
Wireless segment accounted for the largest revenue share in 2021. Ease of collection of information about the surrounding environment over a prolonged period with reduced manual effort is one of the major factors driving revenue growth of the segment. Moreover, the wireless segment offers efficient measurement of a variety of variables from air temperature and vibration. Utilization of wireless sensors enable organizations to monitor premises, as well as identify and track any suspicious activity.
Industrial IoT segment accounted for a significant revenue share in 2021. Rising smart city development initiatives in various countries with increasing integration of smart electronic devices in the home are a few of the factors driving revenue growth of the segment. Automated IoT-connected wireless systems enable easy monitoring of health issues. Furthermore, the rising need for efficient and effective health monitoring systems and telemedicine is driving the industrial IoT segment forward. The need for a reliable transportation system is essential for infrastructure development, which is driving the demand for automated transportation.
However, the report takes into account the current COVID-19 impact on the global economy and this particular business sector. The global IoT Sensors market growth has been extensively hampered by the current economic situation triggered by the COVID-19 pandemic. The pandemic has led to some devastating effects on the global economy, besides disrupting the functioning of the IoT Sensors industry. It offers an exhaustive analysis of the present and future effects of the pandemic on this business sphere. Moreover, the adverse effects of the coronavirus pandemic on the global IoT Sensors market, as well as its fundamental segments, have also been elucidated in this report.
Major Players/Manufacturers profiled in the report are:
General Electric, TE Connectivity, NXP Semiconductors, Texas Instruments Incorporated, STMicroelectronics, OMRON Corporation, Siemens, Infineon Technologies AG, Murata Manufacturing Co, and InvenSense (TDK).
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For better understanding, the report further divides the market into key segments such as product types and application spectrum. The report also offers estimates about the segment and sub-segment expected to grow at a rapid pace and the key factors expected to drive revenue growth of the segments during the forecast timeline of 2022-2030.
Emergen Research has segmented global IoT sensors market on the basis of sensor type, network technology type, vertical, and region:
Sensor Type Outlook (Revenue, USD Billion; 2019-2030)
Network Technology Type Outlook (Revenue, USD Billion; 2019-2030)
Digital Addressable Lighting Interface (DALI)
Vertical Outlook (Revenue, USD Billion; 2019-2030)
Aerospace & defense
Logistics & supply chain
The regional analysis states the global market is bifurcated into North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa. The report also covers import export consumption, supply and demand ratio, cost, pricing analysis, gross margin, and revenue estimation of each player in each region. The report also offers a country-wise analysis of the key regions to offer a better understanding of the global market.
Regional Segmentation Covers:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report further sheds light on the strength, weaknesses, opportunities, and threats faced by the companies in the global IoT Sensors market and additionally measures the feasibility and investment return analysis in the report. Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market and covers the initial and future assessment of the COVID-19 impact on the market. The report is a qualitative and quantitative assessment of the global IoT Sensors market that has been formulated by extensive primary and secondary research with the data further validated from industry experts and professionals.
Key Reasons to Buy This Report:
The report presents a thorough examination of the IoT Sensors market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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