Global IoT Smart Sensors Market Overview:
IoT is composed of various technology layers that enable ordinary things to share the data which collect over the Internet to ultimately deliver intelligence, autonomous actions, and value which largely define the quality of the data. As sensors are a crucial part of the IoT technology. As with the rapid adoption of IoT in various industries to enhance their outcomes, this market is seeing strong growth potential in the future.
As per latest study released by AMA Research, the Global IoT Smart Sensors market is expected to see growth rate of 18.0%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
High Adoption of IoT Based Technology in Various Industries Such as Healthcare, Automotive, and Building Automation Industries
Market Growth Drivers:
Increase in Deployment of Smart Sensors in Industrial IoT Applications, The Advent of IoT from the Various Manufacturing Industries and Growing Requirement of IoT by Automotive Manufacturers to Caters Advanced Safety and Comfort
Challenges:
Stringent Performance Needs for Advanced Sensor Applications
Restraints:
High Cost Associated with IoT Smart Sensors
Opportunities:
Growing Demand for Smart Sensor-Enabled Wearable Devices and Increasing Trend of Industrial Automation
Competitive Landscape:
This market is seeing strong growth opportunities in the coming years, as with raising awareness towards IoT benefits, and increasing government investment towards digitization, this will create a high demand for IoT smart sensors. This market is seeing an increasing number of market players who are highly focusing on investing in various organic and non-organic market growth strategies to escalate their market share and improve their business profitability.
Some of the key players profiled in the report are Infineon Technologies (Germany), Microchip Technology (United States), Analog Devices (United States), TE Connectivity (Switzerland), STMicroelectronics (Switzerland), Eaton Corporation (Ireland), Honeywell (United States), NXP Semiconductors (Netherlands), Emerson Electric (United States) and ABB (Switzerland). Additionally, following companies can also be profiled that are part of our coverage like Siemens (Germany), Robert Bosch (Germany) and TDK Corporation (Japan). Analyst at AMA Research see United States Players to retain maximum share of Global IoT Smart Sensors market by 2030. Considering Market by Technology, the sub-segment i.e. CMOS will boost the IoT Smart Sensors market. Considering Market by Connectivity, the sub-segment i.e. Wired will boost the IoT Smart Sensors market.
Latest Market Insights:
In August 2023, Honeywell acquired Resonate, a provider of smart water leak detection solutions for homes and businesses. This strengthens Honeywell's position in the smart home and building automation market.
In February 2023, Texas Instruments introduces a new line of microcontrollers specifically designed for low-power IoT applications. These microcontrollers offer longer battery life and improved connectivity for IoT devices.
What Can be Explored with the IoT Smart Sensors Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global IoT Smart Sensors Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in IoT Smart Sensors
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global IoT Smart Sensors market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in IoT Smart Sensors market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, IoT Smart Sensors Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.