The latest research report by Emergen Research, named ‘Global Sensors in Internet of Things (IoT) Devices Market - Forecast to 2030. The coronavirus outbreak has led to drastic changes in the current Sensors in Internet of Things (IoT) Devices Market business landscape, limiting the growth opportunities for various manufacturers and buyers for the next few years. Besides making speculations about the market’s post-COVID-19 scenario, the report discusses its existing situation. The report eventually offers conclusive data related to the Sensors in Internet of Things (IoT) Devices Market growth assessed on both regional and global levels.
The global sensors in Internet of Things (IoT) devices market is expected to reach a market size of USD 204.74 Billion at a steady CAGR of 30.8% in 2028, according to latest analysis by Emergen Research. This steady revenue growth of the market can be attributed to increasing Internet and wearable medical device penetration and growing trend of smart factories and automation of various manufacturing processes. Adoption of IoT-enabled sensors and devices to enable more flexible manufacturing processes and to improve productivity has been increasing.
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Drivers:
Several factors are driving the growth of the Sensors in IoT Devices Market. Foremost among these is the increasing adoption of IoT solutions across industries such as manufacturing, healthcare, agriculture, transportation, and smart cities. IoT devices equipped with sensors offer valuable insights into operational efficiency, asset performance, and environmental conditions, enabling organizations to optimize processes, improve decision-making, and enhance customer experiences. Moreover, technological advancements in sensor miniaturization, energy efficiency, and wireless connectivity are expanding the capabilities and applicability of IoT sensors, driving their integration into a wide range of devices and applications.
Restraints:
Despite its promising growth prospects, the Sensors in IoT Devices Market faces certain challenges that could impede its expansion. One of the primary restraints is the complexity and cost associated with sensor integration and deployment in IoT devices and systems. Designing IoT devices with the right combination of sensors, ensuring compatibility, and managing power consumption and data transmission require specialized expertise and resources, posing challenges for device manufacturers and IoT solution providers. Moreover, concerns about data privacy, security, and regulatory compliance related to sensor data collection and transmission raise barriers to adoption and may hinder market growth.
Key players operating in the market are
Acuity Brands, Bosch Sensortec GmbH, Cisco Systems, Ericsson, Google Inc., Honeywell International Inc., HTC Corporation, IBM, Infineon Technologies, and Intel Corporation.
Segmentation :
Emergen Research has segmented the global sensors in Internet of Things (IoT) devices market on the basis of application, sensor type, network technology, and region:
Application Outlook (Revenue, USD Billion; 2021–2028)
- Healthcare
- Transport
- Manufacturing
- Retail
- Others
Sensor Type Outlook (Revenue, USD Billion; 2021–2028)
- Temperature sensors
- Pressure sensors
- Chemical sensors
- Light sensors
- Motion sensors
- Other sensors
Network Technology Outlook (Revenue, USD Billion; 2021–2028)
- Wired
- Wireless
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The report classifies the global Sensors in Internet of Things (IoT) Devices Market into various regions, including:
North America (U.S., Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market. The rising demand for the Sensors in Internet of Things (IoT) Devices Market products is expected to drive the demand for Sensors in Internet of Things (IoT) Devices Market , thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter's Five Force analysis.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
