The global IoT Sensors market revenue was around US$ 12.37 billion in 2022 and is estimated to reach US$ 114.8 billion by 2031, growing at a compound annual growth rate (CAGR) of 28.1% during the forecast period from 2023 to 2031.
Sensors play an important role in developing solutions using IoT technology. Sensors are tools that gather information from the environment and replace it with a signal that both machines and humans can recognize. IoT sensors made it feasible to collect data in almost any situation and are utilized in a variety of industries, including nursing care, healthcare, industrial, transportation, logistics, disaster, preparedness, agriculture, tourism, and local businesses.
Market Driving Factors
Many nations throughout the world are starting smart city initiatives and using smart city solutions to manage resources due to the rising population and urbanization. Smart meters, smart lights, and other connected devices can increase the functionality and effectiveness of infrastructure and related services. Therefore, the rising number of Industry 4.0, smart manufacturing, smart infrastructure, smart homes, and smart building projects propel the market growth. For instance, White & Case LLP's report states that Saudi Arabia is creating four smart cities with multibillion-dollar building contracts: Qiddiya, the Red Sea Project, Amaala, and NEOM. The largest of these projects is NEOM, a US$ 500 billion smart city that would be a highly networked zero-carbon city.
Consumers are embracing smart city solutions such as smart transportation, smart grids, smart trash management, smart utility meters, and smart air quality controllers, which creates lucrative opportunities in the Internet of Things sensors market.
Since each of these devices has a distinct IP address, they may talk to each other and share data. However, as the number of platforms, mobile devices, smart devices, and linked gadgets increases, so does the demand for data privacy and protection. The sensitive and private data on these systems and networks may be accessible to hackers. As connected devices are used more frequently, there may be an increase in data exploitation that reflects connected device design processes and vulnerabilities that hampers the market growth.
Regional Analysis
Asia Pacific contributed for highest revenue and is anticipated to expand more rapidly during the projection period. This is attributed to the development of smart cities and the rapid increase of industrialization are the primary drivers of market expansion in this region. Additionally, this region contributes the most to the automobile industry because of its expanding economy and improvements in the standard sensor framework.
Segmentation Insights
End Use Insights
The agriculture segment is anticipated to develop at the highest CAGR due to the increasing demand for field-based types of equipment and sensors. Smart greenhouses, smart farming, smart agriculture, precision farming, and smart drones are some notable examples of how technology is being used in the agricultural sector. It has helped them cut costs while increasing yields by empowering farmer decision-making with precise data. For instance, smart farming improves the overall agricultural system by enabling real-time farm monitoring and efficient food production.
The manufacturing and healthcare segment dominated the market in terms of the highest share during the projection period. The manufacturing sector is focusing on digital transformation to improve quality and productivity, support supply chain management, and decrease downtime. Industry 4.0 technologies, such as the industrial Internet of Things (IoT), machine learning, and big data are enabling this shift in emphasis. For instance, industry 4.0 technologies like digital twins may help production facilities stay at the forefront of productivity by offering a digital footprint of products. Considering that it might aid manufacturing facilities in improved product design, more accurate outcome forecasting, and earlier discovery of physical flaws.
Prominent Companies
Segmentation Outline
The global IoT Sensors market segmentation focuses on Type, Network Technology, End Use, and Region.
By Type
By Network Technology
By End Use
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL IOT SENSORS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: IOT SENSORS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL IOT SENSORS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL IOT SENSORS MARKET, BY TYPE
5.1 OVERVIEW
5.2 TEMPERATURE SENSOR
5.3 PROXIMITY SENSOR
5.4 PRESSURE SENSOR
5.5 LEVEL SENSOR
5.6 GAS SENSOR
5.7 IMAGE SENSOR
5.8 OPTICAL SENSOR
5.9 GYROSCOPE SENSOR
5.10 HUMIDITY SENSOR
5.11 ACCELEROMETER SENSOR
5.12 OTHERS
6 GLOBAL IOT SENSORS MARKET, BY NETWORK TECHNOLOGY
6.1 OVERVIEW
6.2 WIRED
6.3 WIRELESS
6.3.1 WI-FI
6.3.2 BLUETOOTH
6.3.2.1 BLUETOOTH SMART
6.3.2.2 BLUETOOTH SMART / ANT+
6.3.2.3 BLUETOOTH 5
6.3.3 ZIGBEE
6.3.4 Z-WAVE
6.3.5 NFC
6.3.6 RFID
6.3.7 OTHERS
7 GLOBAL IOT SENSORS MARKET, BY END USE
7.1 OVERVIEW
7.2 CONSUMER ELECTRONICS
7.3 AUTOMOTIVE
7.4 INDUSTRIAL
7.5 FOOD & BEVERAGE
7.6 AEROSPACE & DEFENSE
7.7 TRANSPORTATION
7.8 AGRICULTURE
7.9 OTHERS
8 GLOBAL IOT SENSORS MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL IOT SENSORS MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 OMRON CORPORATION
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 TEXAS INSTRUMENTS
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 STMICROELECTRONICS
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 TE CONNECTIVITY
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 SIEMENS
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 GENERAL ELECTRIC
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 NXP SEMICONDUCTOR
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 MURATA MANUFACTURING CO
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 INFINEON TECHNOLOGIES
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 HONEYWELL
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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