The report has estimated the sensors market in IoT devices to grow at a CAGR of 26.91% during 2016-2022. In terms of region, the U.S is the leading market for IoT sensors among North America. The main reason for its domination is the fact that the U.S has always been on the forefront of the world map when it comes to technological advancement. In terms of application segment, healthcare is dominating the market during the estimated period and continues to maintain its dominance during the forecast period as well.
Internet of Things (IoT) is an emerging technology that is extensively being used in the present day scenario. Automobiles, goods & services, sensors, consumer durables, and industry & utility components among others are now aligned with the internet and data analytic capabilities which is transforming the way people work, live and think. By 2025, it is being projected that more than 100 billion of Internet of Things (IoT) connected devices will be installed which will generate a revenue of close to $10 trillion.
However, even with such enormous growth Internet of Things (IoT) sensor market is facing a lot of challenges which are as follows: trust & privacy issues, resorting to lower standards due to cut throat competition and security concerns among others. Internet of Things (IoT) sensors market is lined up with a handful of opportunities in coming future. Developed economies are engaging in upcoming projects on smart cities which will be utilizing a variety of sensors including smart parking sensors, and smart meters among others. Moreover, with the growing awareness towards health, various technological advancements have already been initiated in healthcare sector which will increase the demand for sensor in healthcare segment. Biosensor is one of the examples which is extensively used in healthcare segment and is expected to show much higher growth in future.
Acuity Brands Inc
Honeywell International Inc
NXP Semiconductors NV
Samsung Electronics Co, Ltd.
Key Topics Covered:
1 Report Scope and Methodology
2 Market Dynamics
3 Competitive Insights
4 Global Sensors in Internet of Things (IoT) devices Market Size & Forecast by Sensors Type
5 Global Internet of Things (IoT) Sensors Market, By Applications
6 Global Internet of Things (IoT) Sensors Market, By Geography