sensors in internet of things devices market Share, Growth, Analysis, Trend, and Forecast Research Report by 2028
The global sensors in Internet of Things (IoT) devices market is expected to reach a market size of USD 204.74 Billion at a steady CAGR of 30.8% in 2028, according to latest analysis by Emergen Research. This steady revenue growth of the market can be attributed to increasing Internet and wearable medical device penetration and growing trend of smart factories and automation of various manufacturing processes. Adoption of IoT-enabled sensors and devices to enable more flexible manufacturing processes and to improve productivity has been increasing. Growing need to monitor, control, and improve operational efficiency has also been resulting in growing adoption of sensors in IoT devices in manufacturing and automotive industries. Smart city initiatives in developing countries are also contributing to growing demand for sensors in Internet of Things devices, and the trend is expected to continue during the forecast period.
Manufacturing industries are increasingly adopting sensors in IoT devices for employee safety and well-being, profitable process workflows, and improved space utilization. Technological advancement in sensors, field devices, and robots is projected to boost deployment of sensors in a growing range of IoT devices is also expected to support market growth over the forecast period.
Increasing adoption of sensor-based IoT-enabled solutions in the healthcare sector, coupled with growing automation trend in various industries is driving market growth.
sensors in internet of things devices Market Size – USD 204.74 Billion in 2028, Market Growth – at a CAGR of 30.8%, Market Trends – Technological advancement in Sensors
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A novel research report on global sensors in internet of things devices has been recently published by Emergen Research to offer a comprehensive overview of the industry with latest and emerging market trends between 2021 and 2028. The report offers a detailed overview of the market with precise information about product type, application, market size, revenue share, key drivers, restraints, opportunities, and challenges. The report also assesses market trends that can have favorable impact on the market in the coming years along with detailed examination of various market segments on global and regional levels.
COVID-19 Impact Analysis:
This report is the latest document encompassing the massive changes that took place in the sensors in internet of things devices market following the emergence of the COVID-19 pandemic. The pandemic has drastically affected the global economic landscape, thereby disrupting the operating mechanism of the sensors in internet of things devices market. The severe global crisis has prompted organizations to efficiently respond to the rapidly shifting business environment.
Key Highlights of Report
In October 2020, Cisco Systems announced the launch of two new cloud-managed IoT sensor solutions, namely Meraki MT sensors and Industrial Asset Vision sensors. The IoT sensor solutions are expected to help businesses simplify facility and asset monitoring across their organizations, from outdoor Operation Technology (OT) to indoor IT closet spaces at scale.
The manufacturing segment accounted for largest market share in 2020. Manufacturers across various industries are adopting IoT solutions with increased focus on sensors, robotics, centralized tracking, cloud, and quality inspection in order to implement smart manufacturing, which is projected to boost demand for sensors for such solutions and applications.
The pressure sensors segment revenue is expected to expand at a rapid CAGR of 31.5% during the forecast period. The ability of pressure sensors to detect fluctuations or drops in pressure is driving utilization in various processes in manufacturing facilities.
The wireless segment accounted for a significantly high revenue share in the sensors in Internet of Things (IoT) devices market in 2020. Wireless sensor networks are effective in harsh or hostile environments, offer an easily scaled solution, and enable remote data collection and transmission, which are factors driving demand for wireless sensor networks.
North America accounted for largest revenue share contribution to the global sensors in Internet of Things (IoT) devices market in 2020. Increasing adoption of IoT-based sensor solutions in manufacturing, automotive, transportation, and healthcare industries in countries in the region is projected to boost market growth during the forecast period.
Key players in the market include Acuity Brands, Bosch Sensortec GmbH, Cisco Systems, Ericsson, Google Inc., Honeywell International Inc., HTC Corporation, IBM, Infineon Technologies, and Intel Corporation.
The report objectives are:
To evaluate sensors in internet of things devices status, future forecast, growth opportunity, key market, and key players.
To present the Global sensors in internet of things devices development in the different regions of the world.
To strategically study and segment the key players and comprehensively analyze their development plan and strategies.
To define, describe, and forecast the market by product type, market, and key regions.
Emergen Research has segmented the global sensors in Internet of Things (IoT) devices market on the basis of application, sensor type, network technology, and region:
Application Outlook (Revenue, USD Billion; 2021–2028)
Sensor Type Outlook (Revenue, USD Billion; 2021–2028)
- Temperature sensors
- Pressure sensors
- Chemical sensors
- Light sensors
- Motion sensors
- Other sensors
Network Technology Outlook (Revenue, USD Billion; 2021–2028)
Key points discussed in the report for Global sensors in internet of things devices Market:
Chapter 1: Introduction, market driving force product, Objectives of the Study, and Research Scope of the sensors in internet of things devices market
Chapter 2: Exclusive Summary –vital information of the sensors in internet of things devices Market.
Chapter 3: Market Dynamics- Drivers, Trends, and Challenges of the sensors in internet of things devices Market
Chapter 4: sensors in internet of things devices Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Market segmentation by Type, End-User and Region 2016-2018
Chapter 6: Analysis of the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions.
Chapter 7 & 8: Appendix, Methodology and Data Source…Continued
Finally, sensors in internet of things devices Market is a valuable source of guidance for individuals and companies.
The global sensors in internet of things devices market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global sensors in internet of things devices market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Key questions addressed in the report:
- What are the key factors driving the global sensors in internet of things devices market?
- Who are the key manufacturers in this market space?
- Who are the distributors, traders and dealers of this market?
- What are the market opportunities and risks affecting the performance of the vendors in the global sensors in internet of things devices market?
- What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?
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