USD 11.20 Million
Global IoT Sensors Market Size, Share, Growth Analysis, By Sensor Type(Temperature Sensor, Pressure Sensor), By Vertical(Consumer, Commercial) - Industry Forecast 2024-2031
Report ID:
SQMIG45K2095 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|
Tables:
78 |
Figures:
70
Global IoT Sensors Market Insights
Global IoT Sensors Market size was valued at USD 11.20 Million in 2022 and is poised to grow from USD 14.40 Million in 2023 to USD 107.74 Million by 2031, at a CAGR of 28.60% during the forecast period (2024-2031).
The Global IoT Sensors Market is a fast-growing part of the wider technology field. This market has many internet-connected things called IoT. They use different types of sensors to get live information from the real world. The main goal of the market is to easily mix IoT technologies in many businesses. This helps data analysis, machines working by themselves, and easy connections between things. One big reason for the rise of the global IoT sensors market is more and more use of online things across different areas. This is making many people want sensors that can grab information and send it away to be studied. These sensors are very important in changing old ways of working into more efficient and information-based systems. But the market is not free from problems. As IoT usage grows, there are some stopping points. These include worries about keeping data safe and private, problems with different IoT devices working well together and the need for common rules. Also, the many different types of sensors used in specific jobs make it hard to standardize them. So, people in businesses must work together to create solutions that can work with each other.
Even though there are obstacles, the Global IoT Sensors Market offers big chances. The always-growing tech upgrades, especially in sensor technologies, let us try new things. There are chances to make better and more detailed sensors, improved ways of processing data, and joining artificial intelligence. This will help get useful information from the collected data. Also, the market is ready to gain from more attention on smart cities and Industry 4.0 and growing use of IoT in health care, farming and other areas. In conclusion, the Global IoT Sensors Market is a vibrant ecosystem with a profound impact on the way industries leverage data for decision-making and optimization. While challenges exist, the market's purpose, driven by the demand for enhanced connectivity and automation, creates a fertile ground for opportunities and innovation in sensor technologies. As technology continues to advance, the role of IoT sensors is likely to become even more central in shaping the future of connected ecosystems across the globe.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Pressure Sensor
Fastest Growth
Pressure Sensor
Growth Rate
28.60% CAGR
Global IoT Sensors Market 2021-2030 ($ Mn)
Country Share for North America Region- 2021 (%)
Global IoT Sensors Market Size By sensor type ($ Mn)
Global IoT Sensors Market Size By Sensor type 2021-2030 (%)
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Global IoT Sensors Market Segmental Analysis
Global IoT Sensors Market is segmented based on Sensor Type, Vertical, and Region. By Sensor Type, the market is segmented into Temperature Sensor, Pressure Sensor, Humidity Sensor, Flow Sensor, Accelerometer, and others (Magnetometer, Gyroscope, Inertial Sensor, Image Sensor, Touch Sensor, Proximity Sensor, Acoustic Sensor, Motion Sensor, Occupancy Sensor, CO2 Sensor, Light sensor, and Radar sensor). By Vertical, the market is segmented into Consumer, Commercial, Industrial, and Geographic Analysis. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Sensor Type
Pressure sensors are a big part of the market, making up about 25% of the worldwide Internet of Things (IoT) Sensors Market. Their power comes from their ability to be used all over businesses, like cars and airplanes as well as health care and big factories. These devices are used a lot to measure pressure changes and keep things safe. They help make processes better, make sure operations stay safe and improve overall work efficiency. Pressure sensors are very important in areas like cars. They help with checking tire pressure and controlling engines and fuel systems. In healthcare, these sensors are very important in medical tools such as breathing machines and liquid flow pumps. They make sure the right pressure is kept for patient health.
The Accelerometer part is the one growing fastest and is expected to have a big yearly increase of about 10% during the time we are looking at. This increase is due to the growing need for gesture-sensitive features in many IoT uses, such as household gadgets, factory automation and health-tracking gear. In the world of gadgets that people buy, smartphones and fitness trackers along with gaming consoles use a special thing called accelerometers. This helps them to grow more popular. Also, businesses like making things and moving stuff use accelerometer devices to predict when something is going wrong. This helps them make their operations better and cut down times when they can't work.
Analysis By Vertical
Industrial vertical emerges as the dominating force, showcasing both its current prominence and future growth potential. There has been an amazing increase in the use of Industrial IoT (IIoT). The industrial part makes up more than 40% of its market share. The use of IoT sensors in making things, managing supply chains, and doing maintenance before it's needed has changed how factories work. It makes them more efficient and reduces the time they are not working. Companies are increasingly using IoT sensors to get real-time data, improve the process of making things, and make smart choices. People want more industrial IoT sensors because of the constant push for Industry 4.0. Here, connected machines and data information change how we make things. The big part that the industry plays is not just because it has many customers right now. It also shows a strong increase expected in the future as more businesses accept changes driven by Internet-connected things (IoT).
The fastest-growing segment within the Global IoT Sensors Market is the Commercial vertical. Its growth rate each year is over 12%, which means it's getting bigger quickly. This part covers many kinds of uses, such as smart buildings, shops, and health care. In the business world, IoT sensors are being used more and more to make smart and linked spaces. In smart buildings, sensors help use energy better, improve safety, and allow personal experiences for users. The shop sector gets help from IoT sensors to manage stock, connect with customers, and run things better. Also, health care apps like tracking patients from a distance and keeping track of items help the business side grow quickly. The business side is going up because more and more people are recognizing how the Internet of Things can make things better for customers, simplify work processes, and give new answers across many businesses.
Global IoT Sensors Market Size By sensor type 2021(%), 2022 (%)
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Global IoT Sensors Market Regional Insights
Asia-Pacific stands out as the dominating force, exhibiting a robust market share and serving as the epicenter for IoT sensor deployment. The area's power is caused by a mix of things like fast factory growth, city building and rising need for smart gadgets in places like China, Japan and South Korea. The Asia-Pacific region has more IoT sensors than other places. Also, they are leading the way with new ideas because of their growing factories and a focus on smart cities. This leadership is set to continue, with the area predicted to have the quickest increase in using IoT sensors. This shows that there are lots of economic activities and new technology happening in Asia-Pacific at high speed.
North America, on the other hand, emerges as the fastest-growing region in the Global IoT Sensors Market. The area gains from an old technology setup, early use of Internet-connected devices and a lot of important businesses in the field. The number of high-tech businesses, especially in America, along with a focus on new ideas and experimentation makes North America the center for new IoT sensor technologies. The area's quick use of technology is pushed forward even more by adding internet-connected things to areas like health care, making stuff and smart towns. A new technology approach in North America will lead to faster growth in IoT sensors. This will have a big impact on the world market.
Global IoT Sensors Market Size By Geography, 2021-2030, 2024-2031
- Largest
- Fastest
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Global IoT Sensors Market Dynamics
Drivers
Increasing Use of Sensors in IoT Applications due to Cost and Size Reduction, and Technological Advancements
- More gadgets using sensors in IoT because cost and size are going down, plus better technology. Because the tiny size of sensors is going down quickly and lots of people are using microelectromechanical systems (MEMS) technology, sensors are now used in cars, health care, and everyday things. This has played a big part in making the sensors market grow. In the past 5 years, small sensors have quickly been put into things like smartphones, drones, wearable gadgets, and robots.
Restraints
Data Security Concerns
- Even though IoT has a big chance, there are worries about how safe and private data will be when using IoT gadgets. The Internet of Things is all about data. Devices with IoT and sensors create a lot of data every second. Firms and groups use different sensors to watch this information. They make choices based on the data they get. As businesses rely more on data from machines for quick processes, it's important to make sure that the information is real and secure. Likewise, the devices gathering that data need to be strong and dependable. As IoT connects many devices, it offers more ways for bad software to get in. If IoT devices aren't well protected, cyber attackers might use them to get in and harm other devices on the network.
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Global IoT Sensors Market Competitive Landscape
The competitive landscape of the Global IoT Sensors Market is characterized by intense rivalry and a diverse array of key players vying for market share in this rapidly evolving industry. the leading companies like Bosch Sensortec, Texas Instruments, and STMicroelectronics. They use their huge experience and smart technology to give a wide range of IoT sensor solutions. These big players in the industry always put their money into research and development. They do this so they can create new sensor technologies, keeping them ahead of what's popular in the market. New players such as Silicon Laboratories and TDK InvenSense are coming up, working on special chances and using new ideas to improve sensors. The market is seeing companies working together, joining forces and merging to increase their products and grow around the world. The contest doesn't just focus on how smart the sensor devices are. It also looks at things like how much they cost and if they work well, as well as their ability to fit into different Internet of Things uses. With more and more industries wanting IoT sensors, competition is getting fierce. Companies work hard to have unique solutions and alliances that will change the Global IoT Sensors Market's future path.
Top Player’s Company Profile
- Texas Instrument
- TE Connectivity
- Broadcom
- NXP Semiconductors
- STMicroelectronics
- Bosch Sensortec
- TDK (Invensense)
- Infineon Technologies
- Analog Devices
- Omron
- Honeywell
- Siemens
- General Electric
- OMRON Corporation
- Murata Manufacturing Co.
Recent Developments
- In September 2021- The Dutch construction firm Heijman used its Beyond Eyes unit. They set up 20,000 smart building IoT sensors for their customers using LORAWAN tech. The goal is to make buildings easier to manage by using real-time information about energy and water use, light brightness, moisture levels, carbon emissions levels, and noise. It also helps people in homes with smart features. Beyond Eyes teamed up with Actility, an IoT connectivity solution firm and Clickey, an IoT sensor company. They worked together to bring the smart building idea of Beyond Eyes throughout the Netherlands.
- In August 2021- Bouchaine Vineyards, a company in Napa Valley, California said this week that they have added Cisco Systems' sensor tech to their 100 acres of vineyards. Cisco Industrial Asset Vision sensors are put in different parts of the vineyard to get information about things like humidity, water supply, temperature and light levels. Big wine fields are split into "parts" based on the way land is shaped or soil kind. The sensors follow information bit by bit and put it on a real-time screen.
Global IoT Sensors Key Market Trends
- Rapid evolution towards Edge Computing: People need fast data processing and quick response times, so edge computing has become a key answer. It changes the old way of using clouds for everything. Sensors for the Internet of Things make a lot of data. If we can quickly process this data near where it comes from, then decisions happen faster and responses are better. This is very important in cases where you need quick results, such as self-driving cars, checking health, and machines that work on their own. Edge computing helps lighten the work for main cloud systems. It also deals with worries about limited bandwidth and data security. Also, edge computing helps us use network resources better and reduces the time it takes to send data.
Global IoT Sensors Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global IoT Sensors market analyses, The Global IoT Sensors Market is undergoing a profound transformation, driven by the escalating demand for interconnected devices across various industries. A study of the market shows it's growing strong. In future years, it could get even bigger than before. The big use of IoT sensors in things like smart cities, healthcare, making stuff, and farming is the main reason for this growth. The study about the market shows a big increase in money being used for research and development. This helps develop new ideas in sensor technologies all the time. Furthermore, the growing use of Industrial IoT (IIoT) and the movement towards smart buildings help make the market look good. Problems like keeping data safe and making different systems work together are being fixed by improving sensor skills and setting up rules that everyone follows. The IoT Sensors Market is growing fast because businesses are using more data to make decisions. This change in how companies work makes them more efficient and competitive against each other, thanks to real-time information.
What’s Included
NA
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 11.20 Million |
| Market size value in 2031 | USD 107.74 Million |
| Growth Rate | 28.60% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global IoT Sensors Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global IoT Sensors Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global IoT Sensors Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global IoT Sensors Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global IoT Sensors Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global IoT Sensors Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global IoT Sensors Market Report Snapshots
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