Internet of Things (IoT) Sensor Market Is Expected to Witness Exponential Growth of USD 54.46 Billion By 2029

Published May 22, 2023

The market research report on the Internet of Things (IoT) Sensor is crucial for business growth and success in the market. It highlights market transformations driven by key players and brands through developments, product launches, joint ventures, mergers, and acquisitions, which significantly impact the global landscape of the Internet of Things (IoT) Sensor industry. This professional and detailed report focuses on primary and secondary drivers, market share, leading segments, and geographical analysis. It serves as a vital document for planning business objectives and goals.

The intricate market insights are presented in a simplified manner in this Internet of Things (IoT) Sensor report, utilizing established tools and techniques to make it accessible to end users. The research studies conducted in this report evaluate several important aspects, including investment in a growing market, the success of new products, and the expansion of market share. The research methodology is designed to maintain simplicity while employing excellent tools and techniques, making this Internet of Things (IoT) Sensor market research report exceptional. Numerous estimations and calculations have been carried out, assuming a definite base year and a historic year, to provide comprehensive insights.

Data Bridge Market Research analyses that the internet of things (IoT) sensor market is expected to grow at a CAGR of 26.32% during the forecast period of 2022 to 2029, at a USD 8.4 billion in 2021 and is further estimated to reach USD 54.46 billion by 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

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IoT sensors are one of the most important and well-prepared with IoT cloud-based applications. It is wirelessly connected to the mainframe system that handles identification. The main goal is to collect data and control the nearby environment using a variety of sensors, such as humidity sensors and temperature sensors.

Level sensors are critical in effluent tanks for wastewater, distribution tanks for clean water, and pump stations for irrigation systems. The adoption of water treatment technology is expected to increase as a result of strict laws in developed regions such as the United States, the United Kingdom, and Germany, as well as measures that support government initiatives. Sensor market expansion is expected to be driven by the ability to provide improved accuracy, efficiency, and ease of installation and maintenance. Furthermore, suppliers have been turning to large product releases, which have been suggestive of the same.

How Data Bridge Market Research Assists in Making Strategic Moves For Internet of Things (IoT) Sensor Market Players?

The data provided in the Internet of Things (IoT) Sensor market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.

The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.

Recent Development

  • In July 2020, Texas Instruments introduced the TMCS1100 and TMCS110, the industry’s first zero-drift Hall-effect current sensors. According to the business, the new sensors can provide the lowest drift and best accuracy across time-temperature. On the other hand, they provide dependable 3-kVrms isolation, which is especially important for AC or DC high-voltage systems such as industrial motor drives, solar inverters, energy storage devices, and power supplies.

Major Companies Operating at both regional and global levels:

  • Sierra Wireless, Inc. (Canada)
  • Moxa Inc. (Taiwan)
  • General Electric Company (US)
  • Skyworks Solution Inc. (US)
  • Infineon Technologies AG (Germany)
  • Honeywell International Inc. (US)
  • Texas Instruments Incorporated (US)
  • Siemens (US)
  • NXP Semiconductors (Netherlands)
  • STMicroelectronics (Switzerland)
  • IBM (US)
  • Sensata Technologies, Inc. (US)
  • Robert Bosch GmbH (Germany)
  • TE Connectivity (US)
  • Qualcomm Technologies, Inc. (US)

Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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Industry Drivers:

Major factors that are expected to boost the growth of the internet of things (IoT) sensor market in the forecast period are as follows:

  • Rise in the use of sensors in IoT applications

Sensors are being used in automotive, healthcare, and consumer items as a result of the fast reduction in sensor size and widespread adoption of microelectromechanical systems (MEMS) technology. This has contributed significantly to the overall expansion of the internet of things (IoT) sensor market.

  • Technological developments

The market trends are being fueled by rapid technical innovation and a considerable demand for linked devices.

  • Increase in the demand for connected and wearables devices

Wearable technologies, such as wireless earphones and smartwatches, are becoming increasingly popular, with technology becoming an intrinsic part of the modern wardrobe that is further anticipated to propel the market’s growth.

Market Segmentation of Internet of Things (IoT) Sensor Market:

By Sensor Type

  • Temperature Sensors
  • Pressure Sensors
  • Humidity Sensors
  • Flow Sensors
  • Accelerometers
  • Magnetometers
  • Gyroscopes
  • Inertial Sensors
  • Image Sensors
  • Touch Sensors
  • Proximity Sensors
  • Acoustic Sensors
  • Motion Sensors
  • Occupancy Sensors
  • CO2 Sensors and Light Sensors
  • Radar Sensors

By Vertical

  • Consumer
  • Commercial
  • Industrial

By Technology

  • Wireless
  • Wired Technology

Global Internet of Things (IoT) Sensor Market: Regional Analysis

North America [U.S., Canada, Mexico]

Europe [Germany, UK, France, Italy, Rest of Europe]

Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]

South America [Brazil, Argentina, Rest of Latin America]

Middle East & Africa [GCC, North Africa, South Africa, Rest of Middle East and Africa]

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