What are the Historical Developments and Current Growth Metrics of the IoT Sensors Market?
The iot sensors market has seen considerable growth due to a variety of factors.
• The market size for IoT sensors has seen an impressive increase in the past few years. It is projected to rise from $12.21 billion in 2024 to $15.62 billion in 2025, maintaining a compound annual growth rate (CAGR) of 28.0%.
The significant growth during the historical period can be accredited to advancements in connectivity, data analytics and big data, cost reductions, development of smart cities and infrastructure, and industrial IoT (iiot).
What Is The Projected Growth Of The IoT Sensors Template Market?
The iot sensors market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of IoT sensors is predicted to experience a swift expansion in the coming years. By 2029, it is projected to reach a whopping $32.34 billion, with a compound annual growth rate (CAGR) of 20.0%.
This projected boom during the forecast period is linked to developments in 5g connectivity, edge computing, artificial intelligence and machine learning, security and privacy, along with energy harvesting. Key market trends projected for the forecast period comprises of miniaturization, the integration of multi-sensors, IoT sensor ecosystems, monitoring for environment and sustainability, and sensors for healthcare and wearables.
What Are The Key Drivers Fueling Growth In The IoT Sensors Market?
The integration of IoT in the automobile and transport industries is a significant element propelling the expansion of the IoT sensor market. The implementation of IoT in the vehicle sector has ushered in novel prospects for vehicle manufacturers and customers around the globe. Used industrially and commercially, IoT has turned into a sought-after locale for a myriad of multifunctional automotive applications. IoT delivers improved communication, regulation, and data transmission at every point of transport. For instance, corporations such as Mercedes-Benz, Volkswagen, Volvo, Toyota, and Google Inc. are enlisting substantial investments into the creation of intelligent vehicles packed with superior features that promise more health-conscious, convenient, and enjoyable travel experiences. According to NASDAQ projections, autonomous vehicles are anticipated to control the sector by 2030. Hence, it's expected that utilizing IoT in vehicle and transport sectors will send forth the expansion of the IoT sensor market.
What Are The Principal Market Segments In The Global IoT Sensors Industry?
The IoT sensors market covered in this report is segmented –
1) By Product Type: Temperature sensors, Pressure sensors, Humidity sensors, Flow sensors, Accelerometers, Magnetometers, Gyroscopes, Inertial sensors, Image sensors, Other Product Types
2) By Application: Building Automation, Industrial Application, Automotive Application, Healthcare Application, Retailing And Logistics Application, Security Application, Agriculture Application, Other Applications
3) By End-user Industry: Healthcare, Automotive and Transportation, Manufacturing / Industrial, Other End-Users
Subsegments:
1) By Temperature Sensors: Thermocouples, RTDs (Resistance Temperature Detectors), Thermistors, Infrared Sensors, Bimetallic Sensors
2) By Pressure Sensors: Piezoresistive Pressure Sensors, Capacitive Pressure Sensors, Strain Gauge Pressure Sensors, Optical Pressure Sensors, Resonant Pressure Sensors
3) By Humidity Sensors: Capacitive Humidity Sensors, Resistive Humidity Sensors, Thermal Conductivity Humidity Sensors, Gravimetric Humidity Sensors
4) By Flow Sensors: Electromagnetic Flow Meters, Ultrasonic Flow Meters, Thermal Mass Flow Meters, Coriolis Flow Meters, Differential Pressure Flow Meters
5) By Accelerometers: MEMS Accelerometers, Piezoelectric Accelerometers, Capacitive Accelerometers
6) By Magnetometers: Hall Effect Magnetometers, Anisotropic Magnetoresistive (AMR) Magnetometers, Giant Magnetoresistive (GMR) Magnetometers
7) By Gyroscopes: MEMS Gyroscopes, Fiber Optic Gyroscopes, Ring Laser Gyroscopes, Mechanical Gyroscopes
8) By Inertial Sensors: Inertial Measurement Units (IMUs), Microelectromechanical Systems (MEMS) Sensors, Fiber Optic Gyroscopes
9) By Image Sensors: CMOS Image Sensors, CCD Image Sensors, Infrared Image Sensors
10) By Other Product Types: Gas Sensors, Proximity Sensors, Light Sensors, pH Sensors, Soil Moisture Sensors
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Which Emerging Market Trends Are Altering The IoT Sensors Industry?
Prominent enterprises in the IoT sensors arena are exploring the potential of XENSIV sensors for enhancing precision, performance, and intelligence in IoT solutions. XENSIV sensors have been engineered to deliver superior accuracy, energy efficiency, and expandable features, catering to the specific needs in domains such as smart housing, industrial mechanization, and car industry sectors. For example, Infineon Technologies, a semiconductor manufacturing organization based in Germany, unveiled a XENSIV-connected sensor package in November 2022. This technology platform assembles different sensors, microcontrollers, and secure connectivity to facilitate the work of hardware and software engineers. The CSK kit employs Infineon's XENSIV sensors alongside the PSoC 6 microcontroller and bears features like rapid data visualization and synchronization with known cloud services like AWS IoT Core. The kit also encompasses environmental sensor types for tracking CO2 levels and facilitates presence detection, marking its relevance for smart home implementation.
Who Are the Key Players In The IoT Sensors Market?
Major companies operating in the IoT sensors market include:
• Texas Instruments
• TE Connectivity
• NXP Semiconductors
• STMicroelectronics
• TDK Corporation
• Honeywell
• Sensata Technologies
• Broadcom
• Bosch Sensortec
• Analog Devices
• Siemens
• General Electric
• Robert Bosch GmbH
• Monnit
• Murata Manufacturing
• Sensirion
• Silicon Laboratories
• Asea Brown Boveri Limited
• Schneider Electric SE
• Qualcomm Technologies
• Inc.
• International Business Machines
• CANON MEDICAL SYSTEMS CORPORATION
• Skyworks Solution Inc.
• Sierra Wireless
• Moxa Inc
• SmartThings
• Libelium
• Infineon Technologies
• Parametric Technology Corporation
• Intel
• Omron
• Cisco
• Oracle
• MongoDB
• GE Digital
• ARM IoT Security Company
• Vention
• Altoros
• Oxagile
• Innowise Group
• Style Lab IoT Software Company
• HQ Software Industrial IoT Company
• ScienceSoft
• DICEUS
• Huawei
What Are The Regional Insights Into The IoT Sensors Market?
Asia-Pacific was the largest region in the IoT sensors market in 2023. North America was the second-largest region in the IoT sensors market. The regions covered in the iot sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
