IoT Sensors Market to 2027 by Type (Temperature Sensor, Light Sensor, Pressure Sensor, Chemical Sensor, Motion Sensor, and Others); Connectivity Type (Wired and Wireless); and Application (Consumer Electronics, Building Automation, Healthcare, Automotive, Industrial, Retail, and Others)
The IoT sensor market is highly fragmented with presence of significant number of players in each countries coupled with multiple players with small or regional presence. Geographically, the market is dominated by North America owing to huge demand from various industries in the region. The APAC region is anticipated to be the fastest growing during the forecast period globally, due to the enormous demand for Chinese, Korean and Japanese market.
Being a technologically advanced country, coupled with high disposable incomes of individuals, the consumer electronics industry has blossomed in the North American region. The density of consumer electronic devices in the region is quite high. Smartphones, tablets, personal computers, music players, DVD players, television sets and other home based electronic devices have found a wider user base in North America. Besides, the rising vehicular density in North America is one of key driver of the market. Since, the automobile ownership is quite widespread in the North American continent with more than 90% of households in the U.S. and 80% of households in Canada owning at least one vehicle. The high density of automobile is anticipated to boost the needs for IoT sensors for complementing the emergence of technologies in the wireless sector such as autonomous vehicles, advanced driver assist systems (ADAS), and wireless telematics.
North America is the economic power house of the world and has continued its legacy for around a century. The regions holds the largest and strongest economy supported by industrial leaders, thus attracting millions of immigrants looking for better life. Being economically robust the region also attracts several industries to invest their capital in the North American market. Its economic strength also makes it capable of adapting the novel technologies into its ecosystem. A strong economy is a proof to the concentration of a plethora of businesses belonging to different industry verticals thus creating demands for more IoT based applications, systems, and related components such as sensors.
The major players operating in the IoT sensors market include Analog Devices, Inc., ARM Holdings PLC, Broadcom, Inc., Honeywell International, Inc., Infineon Technologies AG, NXP Semiconductors N.V., Omron Corporation, Robert Bosch Gmbh, STMicroelectronics N.V., and Texas Instruments Incorporated among others.
The report segments the global IoT Sensors market as follows:
Global IoT Sensors Market - By Type
Global IoT Sensors Market - By Connectivity Type
Global IoT Sensors Market - By Application
Global IoT Sensors Market - By Geography
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