IoT Sensor Market Status and Outlook, Future Development 2018-2023
Major giants like IBM Corporation and Texas Instruments are investing into IoT sensor market due to increasing demand from various industry verticals like commercial, consumer and industrial. Increasing need for real time computing of applications is one major factor fueling the growth of IoT sensor market. Texas Instruments is dominating the internet of things market and is considered to be the technology leader in IoT applications.
North America region holds the largest market share of global IoT sensor market followed by Europe and Asia Pacific regions. The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing demand for mobile communication and consumer electronics in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies.
IoT sensor market has been segmented on the basis of component, type, network technology and vertical. The type segment is further bifurcated into proximity sensor, acoustic sensor, temperature sensor, pressure sensor, flow sensor, humidity sensor, inertial sensor, touch sensor, image sensor, motion sensor, occupancy sensor, CO2 sensor, accelerometer, magnetometer, gyroscope and others. Out of which, the pressure sensor market is expected to hold the largest market share of the IoT sensor market. This is owing to the increasing number of applications of IoT sensors in various sectors like healthcare, industrial automation, transportation and consumer electronics.
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IoT Sensor Market Segmentation
IoT sensor market has been segmented on the basis of component, type, network technology and vertical. The network technology segment is bifurcated into wired network technology and wireless network technology. Out of which, wireless network technology segment is expected to hold the largest market share of the overall IoT sensor market. The wireless network technology segment is further bifurcated into Wi-Fi, Bluetooth, ZigBee, Z-Wave, NFC, RFID, EnOcean, ProfiBus, Thread, WHART, DECT-ULE and others. The wireless technology sub segment is more popular owing to its flexibility and low maintenance costs associated with it
According to Market Research Future Analysis, IoT sensor market has been valued at approx. USD 40 Billion by the end of forecast period with 42% of CAGR during forecast period 2017 to 2023.
The prominent players in IoT sensor market are – Texas Instruments Incorporated (U.S.), STMicroelectronics N.V. (Switzerland), TE Connectivity Ltd. (U.S.), Infineon Technologies Ag (Germany), Analog Devices, Inc. (U.S.), Broadcom Limited (U.S.), Robert Bosch GmbH (Germany), Johnson Controls International Plc. (Ireland), Sony Corporation (Japan), Honeywell International, Inc. (U.S.) among others.
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The regional analysis of IoT sensor market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. The major growth in IoT sensor market in North America is attributed to technical advancements and increasing demand for IoT sensors across various applications in that region.
· Technology Investors
· Research/Consultancy Firms
· Infrastructure Providers
· Chip designers and fabricators
· Original equipment manufacturers (OEMs)
· Semiconductor Companies
· Embedded system companies
· Consumer Electronics Manufacturers
· Sensor Manufacturers
· Technology Providers
· Telecommunication companies
· Government Bodies
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