According to the report, global revenue for IoT Sensors market was valued at $ 9,557 million in 2017, and is expected to generate revenue of $ 46,985 million by end of 2025, growing at a CAGR of 22.03 % between 2017 and 2025.
Global IoT Sensors Market: Market Driver and Restraint
A surge in demand for IoT sensors in the automotive industry and the booming industrial IoT market are strongly driving the growth of the IoT sensors market. Furthermore, the rise in demand for consumer electronics such as smart devices (Smart TV, Smart Phones, etc.) is further impelling the market growth. Increasing sales of consumer electronics are fueling the growth of the IoT sensors market worldwide. In addition, smart electricity, and water meters are anticipated to spur demand for these sensors over the next few years. The conjoint effect of all these trends is set to bolster the growth of the global IoT sensors market in coming years. However, privacy and security issues are hampering the growth of IoT sensors market.
Stringent government regulations and policies are encouraging the development of “smart cities” and this is offering a significant growth opportunity to the global IoT sensors market. IoT sensors are used in smart cities in smart grids, smart meters, intelligent traffic management systems, and smart parking among others. Moreover, technological advancements in the healthcare industry are set to offer the extensive opportunity for the escalation of the IoT sensors market.
Global IoT Sensors Market: Forecast by Applications
This segment includes Smart Home & Wearables, Smart Energy, Smart Security, Manufacturing, Transportation & Logistics, Healthcare and Others. The Manufacturing segment was the leading contributing end user segment and will continue to lead the market until the end of 2025.
Global IoT Sensors Market: Forecast by Form
This segment includes Pressure Sensor, Environmental Sensor, Optical Sensor, Chemical Sensor, Motion Sensor and Others. On the basis of product type, the Pressure Sensor segment is projected to account for the largest revenue share during the forecast period; this segment was estimated to account for 32.42 % market share in 2017.
Global IoT Sensors Market: Forecast by Region
In this study, the market for the IoT Sensors consumption divided into six geographic regions. This segment includes North America, Europe, China, Japan, Asia-Pacific (Ex. China & Japan) and Rest of World. Among all regions, North America is expected to hold the largest share of the IoT sensors market by 2018. The increasing internet usage in technologically advancing economies as well as the growing adoption of wireless sensors and networks across major applications such as industrial, automotive and transportation, healthcare, oil & gas, and consumer electronics propel the growth of the IoT sensors market.
Global IoT Sensors Market: Key Players
Bosch, Honeywell, NXP, Infineon, Analog Devices, Panasonic, InvenSense, TI, Silicon Laboratories, ABB, STM, TE Connectivity, Huagong Tech, Sensirion, Zhonghang Electronic Measuring Instruments, Vishay, Hanwei Electronics, Semtech and Omron, are the key vendors included in this report.
Of the major players of IoT Sensors, Bosch maintained its first place in the ranking in 2017. Bosch accounted for 7.59 % of the Global IoT Sensors revenue market share in 2017, closely followed by Honeywell.
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