IoT Sensors Market Segmented By Temperature Sensors, Humidity Sensors, Pressure Sensors Proximity Sensors Acoustic Sensors, Magnetic Sensors, Inertial Sensors, Gyro Sensors, Accelerometers Type in Wired and Wireless Connectivity
Industry: Semiconductor Electronics
Published Date: December-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 350
Report ID: PMRREP21670
The market for IoT Sensors was valued at US$ 14,871.2 Mn in 2022, and by the end of 2033, it is expected to have grown to US$ 209,463.0 Mn. The market for IoT Sensors is estimated to valuate to US$ 18,693.1 Mn in 2023 and is predicted to grow at a CAGR of 27.3% from 2023 to 2033.
Sensors are devices that replace information from the outside world with signals that can be recognized by both humans and machines. IoT sensors are utilized in a variety of industries, including agriculture, disaster prevention, tourism, medical care, industrial, logistics, transportation, and regional businesses. They made it possible to collect data in almost any situation.
The development of cheaper, smarter, and more advanced sensors, rising market demand for smart devices and wearables, the requirement for real-time computing of applications, supportive government initiatives, and growing applications of IoT sensors across various industry applications all contribute to the market's expansion.
One of the largest shares in the network technology sector belonged to wireless network technology. The widespread use of cloud platforms by both large and small businesses is a major factor in this. Additionally, overall growth is being significantly boosted by the lower cost of installation and upkeep compared to wired devices.
In terms of the regional market landscape, the market in North America held a leading market share of 27.1% in the global landscape in 2022 and is expected to retain its leading position throughout the forecast period. Meanwhile, demand for IoT sensors in the Europe region will hold around 23.8% of the market in 2022.
| Attributes | Key Insights |
|---|---|
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IoT Sensors Market Size (2023) |
US$ 18,693.1 Mn |
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Projected Market Value (2033) |
US$ 209,463.0 Mn |
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Global Market Growth Rate (2023-2033) |
27.3% |
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Wireless Segment Market Share (2022) |
52.2% |
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India Market Growth Rate (2022) |
30.1% |
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Industrial IoT Sensors Segment Market Share (2022) |
18.9% |
“Increasing Cybercrimes in IoT Sensors”
In recent years, the number of IoT applications used has increased. Data breaches and security concerns have also increased as a result. Because they are all data-driven, each Internet of Things platform generates a huge amount of data every second. Enterprises and other business units apply different sorts of sensors for checking information and settling on an educated choices.
It is now crucial for ensuring the security, resilience, and dependability of all IoT devices that collect data. The high degree of connectivity that IoT platforms have with a variety of devices raises data privacy concerns because it provides numerous decentralized entry points for malware. It could be used to harm other devices or misuse the information if the security of all devices is not ensured.
“Rise in Applications of IoT Solutions in Agriculture”
The use of devices based on the Internet of Things (IoT) enables the user to automate the process and analyse the collected data in real time. The Internet of Things (IoT) enables devices on a farm to remotely measure any kind of data and provide this information to the farmer in real time. In addition to keeping an eye on vehicles, the weather, fences, and soil moisture, IoT devices can also monitor dam levels, livestock health, and chemical applications. Consequently, farming and agriculture benefit from automation, which also reduces labour requirements. Smart agriculture vehicles, drones, autonomous robots and actuators, and connected agriculture spaces like hydroponics or smart greenhouses are also receiving increasing attention from researchers. GPS services, field mapping services, agricultural management platforms, and supply chain and inventory management solutions are all part of this market. Due to these the IoT sensor market was estimated to have the largest market share of 19.7% in 2022.
“Shifting towards a Connected Ecosystem to Improve Patient Health”
For the purpose of enhancing the health outcomes of patients, the healthcare industry is moving toward a connected ecosystem. Sensor-equipped devices can monitor the real-time location of critical medical equipment like wheelchairs, oxygen pumps, nebulizers, and defibrillators.
Due to these IoT Sensors market is estimated to grow at a CAGR of 30.1% over the forecast period in India.
“Smart City and Infrastructure Projects by Governments in IoT Sensors”
U.K. is one of the most significant country in Europe estimated to grow at a CAGR of 21.2% in the European IoT sensors market. Smart city and infrastructure projects based on Internet of Things technologies have been launched by global governments. Software, user interfaces, communication networks, and the Internet of Things (IoT) are all used in smart cities. IoT is the most significant of these because it is a network of connected devices that interact with one another and share data.
IoT include smart cars, smart appliances for the home, and on-street sensors. These initiatives are expected to help local businesses and residents by addressing a number of important social issues with digital technology. As a result, the internet of things market is expanding thanks to expanding infrastructure and smart city projects.
Why in Connectivity Segment Wireless Holds a Larger share market in IoT Sensors Market?
“Rising Demand Remote Sensors”
The wireless segment is expected to hold a higher share of the market accounting for more than 52.2% of the market share in 2022. The use of remote sensors empowers associations to screen premises, as well as distinguish and follow any dubious movement. Demand for wireless sensors is rising across a wide range of industries because of the automated communication between critical systems.
Why Demand is increasing for Industrial IoT Sensors in IoT Sensors Market?
“Adoption of IoT Sensor in Different Industries”
The factors that are driving the segment's revenue growth are the increasing integration of smart electronic devices into the home and the growing development of smart cities in various nations. The segment's expansion is also aided by the rising use of automation and wifi. As IoT-connected wireless automated systems make it simple to monitor health issues, the industrial IoT market is expanding in response to the high demand for effective health monitoring systems and telemedicine.
The expansion of infrastructure, which is driving up demand for automated transportation, necessitates a robust transportation system. Additionally, IoT-based smart transportation is environmentally friendly and offers lower fuel costs. IoT-based agriculture offers high quality and high production value while significantly reducing farmers' workload because Big Data analytics and data generated by GPS and IoT sensors are assisting farmers in increasing crop yields and making efficient use of water, thereby reducing waste. Due to these the ultra-portable speakers market for automotive was estimated to have the largest market share of 18.9% in 2022.
The global IoT sensors market key players are focusing on business strategies such as mergers and acquisitions and geographical expansion.
Recent developments related to key players providing IoT sensors market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
| Attribute | Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2018-2022 |
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Market Analysis |
US$ Mn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
By Sensor Type:
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In 2022, demand for IoT sensors markets for a valuation of US$ 14,871.2 Mn.
The globally IoT sensors market is estimated at 27.3% CAGR through 2033.
The market for the IoT sensors is forecasted to climb to US$ 209,463.0 Mn by 2033 end.
Demand for IoT sensors in India is projected to rise 30.1% CAGR over the next ten years.
In 2022, the North American IoT sensors market held a dominant market share of 27.1%.
