Energy & Power / Sensors For IoT Market - Global Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions And By Key Players: Bosch, ABB, Honeywell, Infineon, Analog Devices
Sensors for IoT Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Bosch, ABB, Honeywell, Infineon, Analog Devices
Registering a CAGR of 24.07% over the forecast period of 2022-2027, the global Sensors for IoT Market is anticipated to reach the market value of USD 29.6 billion by 2027 from USD 8.4 billion in 2021.
Sensors for IoT Market Overview
The growing use of sensors in IoT applications due to cost and size reduction, technological advancement, and the Introduction of 3GPP Release 13 and Release 14 specifications are the key factors driving the development of the IoT sensors market. The Development of Internet penetration rate and High demand for connected and wearables devices are factors propelling the development of the IoT sensors market. Due to the rapid reduction in the sensor size and high adoption of microelectromechanical systems (MEMS) technology, sensors are finding applications in automotive, healthcare, and consumer products. This has played a major role in the development of the overall sensors market. During the last 5 years, smaller sensors have rapidly been deployed in devices such as smartphones, drones, wearables, and robots.
In the packaging of medical and food products, moisture control is the main concern, and thermoform plastic acts as barrier films to bring the product in good condition. Thin walling used in various packaging applications has been an additional development factor for the market.
Who are the Major Players in the Sensors for IoT Market?
The Sensors for IoT Market is growing at a very fast pace and has seen the focus of many local and regional vendors offering precise application products for multiple end users. The three dependencies for the status of major companies in the market are: company profile, profitable gross margin, the prices they charge. These are the main players in this market includes Bosch, ABB, Honeywell, Infineon, Analog Devices, NXP, TI, Panasonic, Silicon Laboratories, InvenSense, Vishay, Semtech, Hanwei Electronics, STM, Sensirion, Huagong Tech, Zhonghang Electronic Measuring Instruments, TE Connectivity, Omron
Recent Developments:
In June 2020, TE Connectivity launched LVDT position sensors. These sensors offer standard and custom solutions based on hydraulic application requirements of ICT off-highway equipment and industrial machine tools.
In May 2018, STMicroelectronics launched high-accuracy MEMS sensors with 10-year life for advanced industrial sensing. IIS3DHHC is the first sensor in this category with a 3-axis accelerometer optimized for high measurement resolution and stability.
In December 2019, NXP Semiconductors announced the acquisition of the wireless connectivity assets from Marvell (NASDAQ: MRVL).
What are the major Applications, Types and Regions for Sensors for IoT Market?
Sensors for IoT Market is segmented based on the type, applications, companies and regions.
By Type, it is segmented into
Pressure Sensor
Environmental Sensor
Optical Sensor
Chemical Sensor
Motion Sensor
Others
By Applications it is segmented into
Smart Home & Wearables
Smart Energy
Smart Security
Manufacturing
Transportation & Logistics
Healthcare
Others
Sensors for IoT Market Regional Analysis
The market in APAC is anticipated to register the highest CAGR amongst all regions during the forecast period. The market in this region has been studied for India, China, Japan, South Korea, Australia, and the Rest of APAC. APAC is a key market for consumer devices and appliances, automobiles, and healthcare products. This region has become a global focal point for large investments and business expansions.
North America
US
Canada
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
What is our Sensors for IoT Market report scope?
Report Attributes
Report Details
Forecast Period 2022 to 2027 CAGR
CAGR of 24.07 % over the forecast period (2022-2027)
Yes, the report can be customized as per your needs
Key Takeaways from this Sensors for IoT Report
Evaluate Sensors for IoT market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
Get in-depth insights on your competitor 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 in your processes.
Get a quick outlook on the Sensors for IoT market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
Frequently Asked Questions
How do you conduct primary research interviews?
We use tools such as video conferences, telephone calls, face-to-face interviews, and questionnaires with key respondents.
What if the report I want is not listed in the repository of your reports?
Industry Data Analytics has a repository of reports on various industry verticals and not all of them have been listed on the website. Please contact our sales team with your requirements.
Who are the key players in Sensors for IoT Market?
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
