According to a new market report published by Transparency Market Research "IoT Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023" the iot sensors market was valued at US$4.90 bn in 2014 and is expected to reach US$34.75 bn by 2023, growing at a CAGR of 24.5% during forecast period.
The major application areas of these sensors include consumer electronics, healthcare, automotive, industrial, building automation, retail and others. The global IoT market is poised for significant growth during the forecast period. Growing demand for IoT sensors in the automotive industry and the booming Industrial Internet of Things (IIoT) market are primarily fuelling the market growth. Furthermore, increase in demand for consumer electronics and appliances and a surge in demand for smart devices is positively impacting the expansion of the global market. The healthy economic growth of emerging markets such as China, India, South Korea, Japan and Middle East is also propelling the growth of latest technologies, which is in turn is steadily driving the demand for IoT sensors. These factors in total are set to bolster the growth of the IoT sensors market during the forecast period from 2015 to 2023.
By applications, the global IoT sensors market is segmented into consumer electronics, healthcare, automotive, industrial, building automation, retail and others.
Some of the major players in the IoT sensors market are: Infineon Technologies (Germany),
STMicroelectronics N.V. (Switzerland), IBM (U.S.), Robert Bosch GmbH (Germany), Honeywell International Inc. (U.S.), Ericsson (Sweden), InvenSense Inc. (U.S.), Libelium (Spain), ARM Holdings Plc.
The report provides an exhaustive study of the IoT sensors market along with offering the market estimates, in terms of the revenue (USD million) for the forecast period from 2015-2023. Further, the global market is classified on the basis of types and applications. Cross sectional analysis of the global IoT sensors market across four geographical regions has also been included under the scope of the report.
Global IoT Sensors
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