Registering a CAGR of 28.7% over the forecast period, the market value of IoT Devices and Sensors is expected to reach US$ 30000 million in the year 2027.
IoT Devices and Sensors Market Overview
IoT Devices and Sensors are widely used in a variety of applications ranging from connected cars to traffic lights and smart homes. Because of the interconnectivity of sensors and devices, IoT systems are becoming more popular as smart city initiatives accelerate. The increasing use of IoT Devices and Sensors in smart homes, connected cars, wearable electronics, connected health, smart cities, smart retail, smart grids, smart supply chains, smart farming, and industrial internet is positively impacting the market growth. Companies are catering to the customized demands of customers, aiming to meet their frequently changing industry-specific requirements, as the popularity of IoT Devices and Sensors grows.
The increasing use of sensors in IoT applications as a result of cost and size reductions, technological advancement, and the introduction of 3GPP Release 13 and Release 14 specifications are the primary factors driving the growth of the IoT Devices and Sensors market. The increasing Internet penetration rate and the high demand for connected and wearable devices are driving the market growth. The rise in demand for Industrial IoT (IIoT) integration in industries involving sensor-based measurements for analysis and decision support is driving the growth of the IoT Devices and Sensors market. IoT Devices and Sensors hold nearly 20% of the global IoT market.
The introduction of IoT technology into the automotive industry has created new opportunities for carmakers and buyers worldwide. With applications at both the industrial and commercial levels, IoT sensors in the automotive sector have emerged as a prominent hotspot for a variety of multi-purpose applications. From connected cars to automated transportation systems, Internet of Things (IoT) applications has made a significant impact on the global automotive market. Nowadays, a typical car is outfitted with a plethora of IoT Devices and Sensors, services, and devices that connect and operate via the Internet. All of these connections form a common network for IoT development in the automotive industry.
The report aspects discussed the profile of the top manufacturers of the global IoT Devices and Sensors market. These aspects include the financial status of major companies, trending advancements, and the entire market scenario. Growth of the report has examined IoT Devices and Sensors Market production, demand and growth potential, geographic analysis, as well as current market developments in various regions and countries.
Who are the Major Players in the IoT Devices and Sensors Market?
The global IoT Devices and Sensors includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include Tulip Corporation, Omron, Advantech Co Ltd, Mixlinker, GE Digital, Emerson Electric, Siemens, Bosch, Honeywell, ABB, Schneider Electric, Huawei, Qualcomm, Google, Cisco and others.
Industry News and Updates:
Verizon and Honeywell enable utilities to deploy LTE Smart Meters more quickly.
01/29/2020— Honeywell is integrating Verizon's Managed Connectivity LTE solutions into smart metres and other edge devices as part of the development of the smart electric grid's next evolution. Honeywell can now offer a wireless networking platform to its customers as part of its Smart Energy software, hardware, and services, delivering secure and reliable IoT communications for utility applications.
What are the major Applications, Types, and Regions for the IoT Devices and Sensors Market?
The market is segmented based on the type, applications, companies, and regions.
By Type, it is segmented into
By Application, it is segmented into
- Manufacture
- Automobile
- Transportation And Logistics
- Retail
- Medical Care
IoT Devices and Sensors Market Regional Analysis
Over the forecast period, the market in the United Kingdom is expected to grow at a CAGR of more than 29%. The media landscape in the United Kingdom has been rapidly changing in recent years. Technological advancements present significant growth opportunities for the implementation of IoT sensor solutions and services in the United Kingdom.
The European market for Internet of Things (IoT) sensors is expanding. With the growing popularity of smart cities in European countries such as Germany, the United Kingdom, France, Italy, and Spain, among others, the deployment of IoT sensors in the region has increased.
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
The IoT Devices and Sensors Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type, and segment. It focuses extensively on revealing a detailed regional analysis. The Global IoT Devices and Sensors Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our IoT Devices and Sensors Market report scope?
Scope of the Report covers IoT Devices and Sensors Market with a detailed analysis of the overall scenario for the market. It also highlights the business participants’ environment in the global marketplace. This report also provides an overview of leading companies covering the latest successful marketing strategies, market contributions, current and historical background, and latest market happenings to help key organizations to grow and generate larger profits. Business players will greatly benefit from this IoT Devices and Sensors Market analysis report as it has vital details to provide about regional markets and expected opportunities for the prediction time period 2022-2027. Growth between segments is used to understand the different growth factors that are expected to dominate the market as a whole and to develop strategies to differentiate between key applications and target markets. It further reveals how the worldwide market is working through efficient information graphics.
Report Attributes
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Report Details
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Report Title
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IoT Devices and Sensors Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions, and By Key Players: Tulip Corporation, Omron, Advantech Co Ltd, Mixlinker, GE Digital, Emerson Electric, Siemens
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Forecast Period 2022 to 2027 CAGR
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CAGR of 28.7% over the forecast period (2022-2027)
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By Type
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By Application
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- Manufacture
- Automobile
- Transportation And Logistics
- Retail
- Medical Care
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By Companies
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Tulip Corporation, Omron, Advantech Co Ltd, Mixlinker, GE Digital, Emerson Electric, Siemens, Bosch, Honeywell, ABB, Schneider Electric, Huawei, Qualcomm, Google, Cisco
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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162
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this IoT Devices and Sensors Report
- Evaluate IoT Devices and Sensors market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level - for product types, end-use applications, and different industries verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges, and hidden opportunities.
- Get in-depth insights on your competitor’s performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis, and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies to your processes.
- Get a quick outlook on the IoT Devices and Sensors market entropy – M&As, deals, partnerships, and product launches of all key players for the past 5 years.
- Evaluate the import-export statistics, supply-demand, and competitive landscape for more than the top 20 countries globally for the market.
Frequently Asked Questions
What is the study period of this market?
The IoT Devices and Sensors Market is studied from 2017 - 2027.
What is the growth rate of the IoT Devices and Sensors Market?
The IoT Devices and Sensors Market is growing at a CAGR of 28.7% over the next 5 years.
Who are the key players in IoT Devices and Sensors Market?
Tulip Corporation, Omron, Advantech Co Ltd, Mixlinker, GE Digital, Emerson Electric, Siemens, Bosch, Honeywell, ABB, Schneider Electric, Huawei, Qualcomm, Google, Cisco
What regions does this IoT Devices and Sensors Market report cover?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of IoT Devices and Sensors Market?
Software, Hardware
What are the major end-use applications of IoT Devices and Sensors Market?
Manufacture, Automobile, Transportation And Logistics, Retail, Medical Care
All our reports are custom-made to your company’s needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
