IoT Sensors Market - Global Industry Analysis

IoT Sensors Market By Sensor type (Magnetometer, Gyroscope, Inertial Sensor, Image Sensor, Touch Sensor, Temperature Sensor, Pressure Sensor, Humidity Sensor, Flow Sensor, Accelerometer, and Others), By Network Technology (ZIGBEE, Z-WAVE, NFC, RFID, Wired, Wireless, and Others), By Vertical (Industrial, Consumer, and Commercial, and Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 02-Mar-2022 Category: Technology & Media Report Format : PDF Pages: 169 Report Code: ZMR-759 Status : Published

The global IoT sensors market was worth around USD 8.5 billion in 2021 and is estimated to grow to about USD 27.9 billion by 2028, with a compound annual growth rate (CAGR) of approximately 27.9 % over the forecast period.

Description

Global IoT Sensors Market Industry Prospective:

The global IoT sensors market was worth around USD 8.5 billion in 2021 and is estimated to grow to about USD 27.9 billion by 2028, with a compound annual growth rate (CAGR) of approximately 27.9 % over the forecast period. The report analyzes the IoT Sensors market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the IoT Sensors market.

IoT Sensors Market: Overview

As the IoT industry expands, new types of sensors, as well as new ways to use and derive value from them, emerge on a regular basis. As a result, a growing number of industries are investing in the field in order to extract more value from data in a more effective manner. IoT sensors have proven valuable for both consumers and corporate networks, enabling rapid, simple, and precise data transfer in both cases. Sensors, in all of their forms, are essential to achieving optimal asset performance in all IoT applications. They provide a clear view of everything that is going on in the surroundings.

COVID-19 Impact:

The COVID-19 outbreak and dissemination have had a significant influence on the global growth of the IoT sensor industry. Due to the spread of the virus in different regions of the world, global sales of IoT sensors for major industrial and commercial verticals dropped by 10–15 percent in the fiscal year 2020. The IoT sensors industry has been impacted by a drop in the number of new industrial projects, temporary shutdowns of production facilities, and a drop in crude oil prices, to name a few issues. Market expansion in key areas was also hampered by short-term supply chain interruptions. Due to the closure of several manufacturing sites throughout the world, COVID-19 has had a significant influence on the global industrial sector.

Global beer market

IoT Sensors Market: Growth Drivers

Snowballing use of sensors in IoT applications as a result of technological developments and cost & size reductions to boost market expansion.

Sensors are being largely used in healthcare, automotive, and consumer items as a result of the fast decrease in sensor size and widespread use of microelectromechanical systems technology. This has contributed significantly to the overall expansion of the sensor industry. Smaller sensors have been quickly used in devices such as wearables, smartphones, drones, and robotics over the last five years, which is also supporting the growth of the market.

IoT Sensors Market: Restraints

Concerns related to data security may hamper the market growth.

Despite the enormous promise of the Internet of Things, there are worries about data privacy and security linked with IoT devices. The Internet of Things is fully data-driven. IoT-enabled sensors and gadgets create massive amounts of data every second. Companies and organizations monitor this data using a variety of sensors and make choices based on the information. They must assure the legitimacy of the data as well as the security, resilience, and dependability of the devices that gather data, as they rely more on machine-derived data for real-time commercial activities. As the Internet of Things links more devices, malware has more dispersed access points. Cybercriminals may exploit IoT devices as entry points to harm other devices in the network if they are not properly protected.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

IoT Sensors Market: Opportunities

IoT Sensors Market: Increasing government funding and initiatives to support IoT projects

Because the government sector is projected to be one of the major potential users of IoT, governments throughout the world are promoting and funding IoT-related developments. Smart traffic control systems, energy saving through smart meters, and security system enhancements via smart cameras are all areas where governments are seeking advancements. Furthermore, governments are sponsoring new IoT research initiatives for smart city development. This assistance is predicted to be critical in the IoT's expansion over the next few years.

IoT Sensors Market: Challenges.

IoT Sensors Market: Shortage of raw materials and disruption of the supply chain became the biggest challenge for market expansion

To limit the COVID-19 epidemic, social distance is a preventative and obligatory step. Manufacturing firms used this precaution to limit the number of staff on the shop floor during the initial periods of the outbreak. As a result, production operations and capacity were reduced. Manufacturing activities at certain organizations have been entirely halted, causing supply chain disruption. Other sectors of the manufacturing ecosystem, such as transportation, have also seen social separation. It became impossible to get crucial industrial components and raw materials to areas that were under total lockdown. This further halted business activity, significantly impacting the market growth, particularly in the industrial sector.

IoT Sensors Market: Segmentation

The global IoT sensors market is classified based on sensor type, network technology, vertical, and region. The sensor type segment is bifurcated into a magnetometer, gyroscope, inertial sensor, image sensor, touch sensor, temperature sensor, pressure sensor, humidity sensor, flow sensor, accelerometer, and others. The network technology segment consists of ZIGBEE, Z-WAVE, NFC, RFID, wired, wireless, and others. Industrial, consumer, and commercial are the verticals of the global IoT sensor market.

Recent Developments

  • In Feb 2022, Ericsson announced the launch of IoT Accelerator Connect to make connecting IoT devices for businesses easier than ever before.
  • Texas Instruments introduced the company's breakthrough zero-drift Hall-effect current sensors in July 2020.
  • In October 2020, NXP expands reliable ultra-wideband offering with novel sensing solutions to support upcoming IoT use cases.

Regional Landscape

North America is presently the largest market for IoT sensors holding more than 35 percent of the global market share. Because of the region's established suppliers and early use of IoT technology in numerous sectors, North America is one of the major marketplaces. Most businesses in this region are increasingly using IoT to monitor the functioning of their products, preventing costly breakdowns and wasteful routine maintenance shutdowns. The use of IoT in the area is also propelling the market under study. According to research conducted by Stanford University and Avast, households in North America have the largest concentration of IoT devices of any location on the planet. Interestingly, at least one IoT device is found in 66 percent of residences in the region. Furthermore, 25% of North American households have more than two IoT gadgets. During the forecast period, the market in Asia Pacific is predicted to grow at the fastest rate of all regions. India, China, Japan, South Korea, and Australia are among the major IoT sensor user countries. Consumer electronics, vehicles, and healthcare items all have a strong presence in APAC. This region has emerged as a global hotspot for large-scale investments and corporate growth.

Competitive Landscape

Bosch Sensortec, TDK, Infineon Technologies, Analog Devices, Omron, Texas Instrument, TE Connectivity, Broadcom, NXP Semiconductors, STMicroelectronics, and others are some of the key players operating in the global IoT sensors market.

The Global IoT Sensors market is segmented as follows:

IoT Sensors Market By Sensor type

By Network Technology

  • ZIGBEE
  • Z-WAVE
  • NFC
  • RFID
  • Wired
  • Wireless
  • Others

By Vertical

  • Industrial
  • Consumer
  • Commercial
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  • Chapter 2. Executive Summary
    • 2.1. Global IoT sensors market, 2016 - 2022, (USD Billion)
    • 2.2. IoT sensors market: Market snapshot
  • Chapter 3. Global IoT Sensors Market – Industry Analysis
    • 3.1. IoT sensors market: Market dynamics
    • 3.2. Market Drivers
      • 3.2.1. Increasing adoption of IoT in automotive and consumer electronics industries
    • 3.3. Restraints
      • 3.3.1. Privacy and security issues
    • 3.4. Opportunity
      • 3.4.1. Stringent government regulation and policies for developing smart cities
    • 3.5. Porter’s Five Forces Analysis
    • 3.6. Market Attractiveness Analysis
      • 3.6.1. Market attractiveness analysis by type segment
      • 3.6.2. Market attractiveness analysis by application segment
      • 3.6.3. Market attractiveness analysis by regional segment
  • Chapter 4. Global IoT Sensors Market - Competitive Landscape
    • 4.1. Company market share analysis, 2016 (Subject to data availability)
  • Chapter 5. Global IoT Sensors Market –Type Segment Analysis
    • 5.1. Global IoT sensors market revenue share, by type, 2016 & 2022
    • 5.2. Global IoT sensors market by public cloud, 2016-2022(USD Billion)
    • 5.3. Global IoT sensors market by private cloud, 2016-2022(USD Billion)
    • 5.4. Global IoT sensors market by hybrid cloud, 2016-2022(USD Billion)
  • Chapter 6. Global IoT Sensors Market – Service Type Segment Analysis
    • 6.1. Global IoT sensors market revenue share, by service type, 2016 & 2022
    • 6.2. Global IoT sensors market by pressure sensors, 2016-2022(USD Billion)
    • 6.3. Global IoT sensors market by temperature sensors, 2016-2022(USD Billion)
    • 6.4. Global IoT sensors market by accelerometers, 2016-2022(USD Billion)
    • 6.5. Global IoT sensors market by gyroscopes, 2016-2022(USD Billion)
    • 6.6. Global IoT sensors market by magnetometers, 2016-2022(USD Billion)
    • 6.7. Global IoT sensors market by light sensors, 2016-2022(USD Billion)
    • 6.8. Global IoT sensors market by others, 2016-2022(USD Billion)
  • Chapter 7. Global IoT Sensors Market –Application Segment Analysis
    • 7.1. Global IoT sensors market revenue share, by application 2016 & 2022
    • 7.2. Global IoT sensors market for consumer electronics, 2016-2022(USD Billion)
    • 7.3. Global IoT sensors market for healthcare, 2016-2022(USD Billion)
    • 7.4. Global IoT sensors market for retail, 2016-2022(USD Billion)
    • 7.5. Global IoT sensors market for indusrtial,2016– 2022 (USD Billion)
    • 7.6. Global IoT sensors market for automotive ,2016– 2022 (USD Billion)
    • 7.7. Global IoT sensors market for retail,2016– 2022 (USD Billion)
    • 7.8. Global IoT sensors market for building automation,2016– 2022 (USD Billion)
    • 7.9. Global IoT sensors market for others, 2016 – 2022 (USD Billion)
  • Chapter 8. Global IoT Sensors Market - Regional Analysis
    • 8.1. Global IoT sensors market: Regional overview
      • 8.1.1. Global IoT sensors market revenue share, by region, 2016 and 2022
    • 8.2. North America
      • 8.2.1. North America IoT sensors market revenue, by type 2016 – 2022 (USD Billion)
      • 8.2.2. North America IoT sensors market revenue, by application, 2016 – 2022 (USD Billion)
    • 8.3. Europe
      • 8.3.1. Europe IoT sensors market revenue, by type, 2016 – 2022 (USD Billion)
      • 8.3.2. Europe IoT sensors market revenue, by application, 2016– 2022 (USD Billion)
    • 8.4. Asia Pacific
      • 8.4.1. Asia-Pacific IoT sensors market revenue, by type, 2016 – 2022 (USD Billion)
      • 8.4.2. Asia-Pacific IoT sensors market revenue, by application, 2016 – 2022 (USD Billion)
    • 8.5. Latin America
      • 8.5.1. Latin America IoT sensors market revenue, by type, 2016– 2022 (USD Billion)
      • 8.5.2. Latin America IoT sensors market revenue, by application, 2016– 2022 (USD Billion)
    • 8.6. Middle East & Africa
      • 8.6.1. Middle East & Africa IoT sensors market revenue, by type, 2016 – 2022 (USD Billion)
      • 8.6.2. Middle East & Africa IoT sensors market revenue, by application, 2016 – 2022 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1. Robert Bosch GmbH
      • 9.1.1. Overview
      • 9.1.2. Financials
      • 9.1.3. Type portfolio
      • 9.1.4. Business strategy
      • 9.1.5. Recent developments
    • 9.2. Infineon Technologies
      • 9.2.1. Overview
      • 9.2.2. Financials
      • 9.2.3. Type portfolio
      • 9.2.4. Business strategy
      • 9.2.5. Recent developments
    • 9.3. InvenSense Inc.
      • 9.3.1. Overview
      • 9.3.2. Financials
      • 9.3.3. Type portfolio
      • 9.3.4. Business strategy
      • 9.3.5. Recent developments
    • 9.4. Libelium
      • 9.4.1. Overview
      • 9.4.2. Financials
      • 9.4.3. Type portfolio
      • 9.4.4. Business strategy
      • 9.4.5. Recent developments
    • 9.5. ARM Holdings Plc.
      • 9.5.1. Overview
      • 9.5.2. Financials
      • 9.5.3. Type portfolio
      • 9.5.4. Business strategy
      • 9.5.5. Recent development
    • 9.6. Digital International Inc
      • 9.6.1. Overview
      • 9.6.2. Financials
      • 9.6.3. Type portfolio
      • 9.6.4. Business strategy
      • 9.6.5. Recent developments
    • 9.7. STMicroelectronics N.V.
      • 9.7.1. Overview
      • 9.7.2. Financials
      • 9.7.3. Type portfolio
      • 9.7.4. Business strategy
      • 9.7.5. Recent developments
    • 9.8. Honeywell International Inc.
      • 9.8.1. Overview
      • 9.8.2. Financials
      • 9.8.3. Type portfolio
      • 9.8.4. Business strategy
      • 9.8.5. Recent developments
    • 9.9. Ericsson
      • 9.9.1. Overview
      • 9.9.2. Financials
      • 9.9.3. Type portfolio
      • 9.9.4. Business strategy
      • 9.9.5. Recent developments

Table Of Figures

List of Figures

1. Global IoT sensors market segmentation by type, application and geography
2. Global IoT sensors market, 2016 - 2022  (USD Billion)
3. Porter’s five forces analysis:  IoT sensors market
4. Global IoT sensors market attractiveness, by type, 2016
5. Global IoT sensors market attractiveness, by application, 2016
6. Global IoT sensors market attractiveness, by region, 2016
7. Global IoT sensors market revenue share, by type, 2016 & 2022
8. Global IoT sensors market by pressure sensors, 2016-2022(USD Billion)
9. Global IoT sensors market by temperature sensors, 2016-2022(USD Billion)
10. Global IoT sensors market by accelerometers, 2016-2022(USD Billion) 
11. Global IoT sensors market by gyroscopes, 2016-2022(USD Billion) 
12. Global IoT sensors market by magnetometers, 2016-2022(USD Billion) 
13. Global IoT sensors market by light Sensors, 2016-2022(USD Billion) 
14. Global IoT sensors market by others, 2016-2022(USD Billion) 
15. Global IoT sensors market revenue share, by application 2016 & 2022
16. Global IoT sensors market for healthcare, 2016-2022(USD Billion)
17. Global IoT sensors market for consumer electronics, 2016 – 2022 (USD Billion)
18. Global IoT sensors market for retail, 2016 – 2022 (USD Billion)
19. Global IoT sensors market for automotive, 2016 – 2022 (USD Billion)
20. Global IoT sensors market for building automation, 2016 – 2022 (USD Billion)
21. Global IoT sensors market for industrial, 2016 – 2022 (USD Billion)
22. Global IoT sensors market for others, 2016 – 2022 (USD Billion)
23. Global IoT sensors market revenue share, by region, 2016 - 2022
24. North America IoT sensors market, 2016 - 2022,  (USD Billion)
25. Europe IoT sensors market, 2016 - 2022,  (USD Billion)
26. Asia Pacific IoT sensors market, 2016 - 2022(USD Billion)
27. Latin America IoT sensors market, 2016-2022 (USD Billion)
28. Middle East & Africa IoT sensors market, 2016 – 2022, (USD Billion)


Table Of Tables

List of Tables

1. Global IoT sensors market snapshot
2. Drivers for IoT sensors market: Impact analysis
3. Restraints of IoT sensors market: Impact analysis
4. North America IoT sensors market revenue, by type, 2016 – 2022 (USD Billion) 
5. North America IoT sensors market revenue, by application, 2016 – 2022 (USD Billion)
6. Europe IoT sensors market revenue, by  type, 2016 – 2022 (USD Billion) 
7. Europe IoT sensors market revenue, by application, 2016 – 2022 (USD Billion)
8. Asia-Pacific IoT sensors market revenue, by type, 2016 – 2022 (USD Billion)
9. Asia-Pacific IoT sensors market revenue, by application, 2016 – 2022 (USD Billion)
10. Latin America IoT sensors market revenue, by type, 2016 – 2022 (USD Billion)
11. Latin America IoT sensors market revenue, by application, 2016 – 2022 (USD Billion)
12. Middle East & Africa IoT sensors market revenue, by type, 2016 – 2022 (USD Billion)
13. Middle East & Africa IoT sensors market revenue, by application, 2016 – 2022 (USD Billion)

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global IoT Sensors market. Zion Research has collected and analyzed key data belong to the global IoT Sensors market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of IoT Sensors across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the IoT Sensors industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the IoT Sensors market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

IoT is a network that is embedded with sensors, network connectivity, electronics and software enabling physical objects to collect and exchange the data. Sensors in IoTplay vital role for measuring the physical quality of objects and enumerate it into a value which is further read by another device or user. IoT devices are equipped with different sensors which are capable of registering changes in pressure, motion, temperature, light, and sound. In the physical world, a number of objects can now communicate with each other through embedded IoT sensors, and actuators.

Increasing usage of IoT sensor in the automotive sector and booming industrial IoT sensor are major factors which driving the growth of IoT sensor market. Further, rising demand of smart TV in consumer electronics sector is escalating the demand of IoT sensor market.  Increasing adoption of smartphones and related product are the impelling demand of IoT sensor market. Furthermore, stringent government regulation and policies for developing smart cities is likely to offer new opportunities for IoT sensor market. However, privacy and security issues are restraining the market growth of IoT sensors.

Global-Internet-of-Things-Sensors-(IoT)-Market

IoT sensor market is segmented on the basis of type, application, and region. Types of the IoT sensor include temperature, accelerometer pressure sensor, gyroscope, magnetometer, light sensor and other. Pressure sensors and temperature sensors are expected to hold the major share of IoTsensor market over the forecast period. Temperature sensors are used for healthcare, automotive, and consumer electronics industries and have proved to be useful in catering growing demand for advanced automation in these sectors.The pressure sensor is also used in a variety of application including environmental monitoring devices, air sampling healthcare, remote sensing, air speed, industrial automation and leak detection. Healthcare, retail, building automation, consumer electronics and industrial are different application areas of IoT sensor market. Among this application, automotive and consumer electronics sectors dominated the IoT sensor market in 2016.

North America held the largest share of IoT sensor market and expected to accelerate the demand of this market.North America followed by Europe held the largest share in 2016. IoT sensors are increasingly being demanded in Asia Pacific due to the growing demand from the automotive sector.

Key participants in IoT sensor market are Infineon Technologies, InvenSense Inc., Libelium, ARM Holdings Plc., Robert Bosch GmbH, Digi International Inc., Honeywell International Inc., STMicroelectronics N.V.  andEricsson among others.

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FrequentlyAsked Questions

Snowballing use of sensors in IoT applications as a result of technological developments and cost and size reductions offers healthy growth of the market over the forecast period. Rapid decrease in sensor size and widespread use of microelectromechanical systems technology significantly contributing to the overall expansion of the sensor industry.

According to the Zion Market Research report, the global IoT sensors market was worth about 8.5 (USD billion) in 2021 and is predicted to grow to around 27.9 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 27.9 percent.

North America is presently the largest market for IoT sensors holding more than 35 percent of the global market share. Because of the region's established suppliers and early use of IoT technology in numerous sectors, North America is one of the major marketplaces. Most businesses in this region are increasingly using IoT to monitor the functioning of their products, preventing costly breakdowns and wasteful routine maintenance shutdowns.

 

Bosch Sensortec, TDK, Infineon Technologies, Analog Devices, Omron, Texas Instrument, TE Connectivity, Broadcom, NXP Semiconductors, STMicroelectronics, and others are some of the key players operating in the global IoT sensors market.

 

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