IOT Sensors is anticipated to have CAGR of ~x% over 2019-2028. IoT sensors are the types of sensors that are used in smart applications. It requires connectivity, real-time analytics, and common connecting platform in order to collect and analyze data. The major factor that is anticipated to contribute to the significant growth of the industry include rise in use of the sensors in IOT devices and other applications due to which the reduction in the size and the improvement in the technologies. There is steep rise in the deeper penetration of the internet, which attributes to the market growth in coming years. Furthermore, the recent surge in demand for connected and wearable devices would propel the industry further. The introduction of the 3 GPP Release 13 and Release 14 specifications would fuel the industrial growth. The increase in the data security concerns may hinder the market growth.
Top Driver: Recent introduction of the 3GPP Release 13 and 14 specifications to boost the industry
IOT Sensors is projected to grow with the ongoing introduction to the advanced specifications. The main objective of 3GPP Release 13, Narrowband Internet of Things (NB-IoT) is to provide wide wide-area connectivity for massive machine-type communications for IoT. This would help in expanding LTE carrier aggregation (CA) up to 32 component carriers (CCs). It would also help in gaining achievable data rates for LTE as well as in the flexibility to aggregate large numbers of carriers in different bands. Further with the LTE Release 14, NB-IoT was processed to offer enhanced user experience in selected areas through the additional features such as higher positioning accuracy, improved peak data rates, and also introduction of a lower device power class.
Smart City to Make Crucial Contribution to Growth of Global IOT Sensors Market
On the basis of vertical the market is segmented into Home Automation, Smart City, Wearable Electronics, Consumer, Others. the rising urbanization across various regions have triggered the market as various infrastructures are based on smart city or townships. These are widely accepted projects as these projects are highly automated in terms of security and other house facilities. Hene the smart city segment is projected to huge growth in the forecast period. On the basis of sensor types the market is segmented into Temperature sensors, Humidity sensors, Pressure sensors, Flow sensors, Others. on the basis of network technology the market is segmented into wireless and wired.
North America to Occupy the Largest Market Share
North America is anticipated to gain highest revenue growth than any other country and is anticipated to boost further in the coming years. Such a hig share is attributed to the factor such as increasing technological advancements in the region, growing adoption of wireless sensors and major applications of IOT sensors in various industries such as automotive, healthcare, oil and gas etc. Asia Pacific is expected to be the fastest growing segment in the market.
Players to Focus on IOT Sensors
The global IOT Sensors market leaders Broadcom (Avago), Texas Instruments, TE Connectivity, Omron, Analog Devices, Infineon Technologies, Tdk (Invensense), Bosch Sensortec, STMicroelectronics, NXP Semiconductors,
Synaptics: In July 2020, Synaptics announced that it has completed the acquisition of assets and manufacturing rights associated with the wireless IoT business of Broadcom. These best-in-class Wi-Fi, Bluetooth, and GNSS/GPS technologies expand Synaptics’ footprint across a broad range of applications including home automation, smart displays and speakers, media streamers, IP cameras, and automotive.
TE Connectivity: In April 2019, TE Connectivity (TE), a world leader in connectivity and sensors, had signed a definitive agreement to acquire the Kissling group of companies, a provider of high- power relays and ruggedized switches used in the commercial vehicle, transportation, industrial, military and aviation industries as well as other applications.
Scope of the Report
By Sensor Type
By Network Technology
Key Reasons to Purchase this Report
Table of Content
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