Global IoT Sensors Market 2021 (Includes Business Impact of COVID-19)

  • TBI221823
  • September 16, 2021
  • Global
  • 149 pages
  • Market.US
                                          

Report updated on 11th September, 2021: Global IoT Sensors Market 2021 (Includes Business Impact of COVID-19)

Global IoT sensors market was valued at US$ X.x Mn in 2018 and is anticipated to be valued at US$ X.X Mn in 2028. The global IoT sensors market has been divided based on type, network technology, application, and region. Request Covid - 19 Impact The global IoT Sensors market size was valued at USD$ 14.52 billion in 2020 and is projected to reach $170.95 billion by 2030, and is anticipated to expand at a CAGR of 28.20% over the forecast period from 2020 to 2030.

IoT Sensors: Introduction

Internet of things (IoT) is a network of physical devices, vehicles, and other items embedded with electronics, software, sensors, actuators, and connectivity which enables individuals to connect collect, and create data that improve efficiency and reduce human efforts. IoT sensor is one of the components that are used in smart cities in smart grids, intelligent traffic management systems, smart meters, smart parking, among other applications.

IoT Sensors Market Growth Factors -Supporters and Restraints

Growing automotive industry across the globe, coupled with increasing adoption of IoT sensors in the automotive industry are major factors anticipated to fuel global IoT sensors market growth. In addition, growing demand for consumer electronics such as smart TVs, smart homes, and smartphones are other factors expected to further propel the target market growth to a significant extent. Moreover, increasing consumer awareness regarding reasonable consumer electronics in various countries and increasing sales of electronic products are other factors expected to boost growth of the global market. Ongoing technological advancements and high inclination towards new and high-end technologies and integration of enhanced versions of technologies in various equipment or devices across several industries are factors that are anticipated to propel target market growth in the years to come. However, lack of common protocols and communication standards, high power consumption by connected devices, and limited bandwidth issues in some developing locations are major factors that could restrain the global market growth.

Trends and Future Opportunities:

The ongoing macro trend in the target market is that the adoption of IoT sensors is increasing at a faster pace for various applications including in smart cities, smart parking, smart meters, intelligent traffic management systems, etc. This is anticipated to continue to gain popularity for the next upcoming years and support market growth. Stringent policies in order to safeguard the systems or data from hacking, and rising adoption of IoT in numerous application by various SMEs and large-scale enterprises, and continuous advancements in industries, especially healthcare, electronics, and automotive are major factors that can create potential opportunities in terms of revenue for existing players in the target market in the future.

Analysis by Segmentation: IoT Sensors Market By Network Technology:

The wireless network technology segment is projected to grow at a comparatively faster rate, among the two below mentioned segments. The wired network technology is estimated to dominate in the market owing to cost-effectiveness feature.

By Type:

The pressure sensor type segment is anticipated to register significant CAGR over the 10-year forecast period, due to increasing concerns regarding road safety, comfort levels, and reduction in automobile emissions.

By Application:

The consumer electronics segment is estimated to record significant share in terms of value, attributable to increasing adoption of consumer electronics such as smartphones, smart homes, smart TVs, etc.

Analysis by Region: IoT Sensors Market

The market in North America is anticipated to dominate in the target market in terms of value and consumption/ adoption, due to increasing adoption of Internet-based technologies, wireless sensors, and networks, and trend of early adoption of new technologies across various industrial verticals in countries in this region. In addition, the market in Asia Pacific is projected to register significant CAGR in terms of value over the 10-year forecast period, due to improving industrial infrastructure, and rapidly growing electronics and healthcare industries in this region.

Target Audience:

The target audience for the global IoT sensors market includes major semiconductor companies, consumer electronics manufacturers, technology providers, original equipment manufacturers (OEMs), machine-to-machine (M2M) companies, IoT-based companies, telecommunication companies, embedded system companies, and sensor manufacturers.

Below are the active patents related to IoT Sensors Market.

Parent Number: US9717012B2 Internet of things (IOT) automotive device, system, and method Abstract An apparatus and method are described for an automotive internet of things (IoT) system, apparatus, and method. For example, one embodiment of an automotive Internet of Things (IoT) device configured within a car comprises: a wireless communication interface to take signal strength measurements to a mobile device, the signal strength measurements comprising signal strength values; and a signal strength analysis and notification module to analyze the signal strength values from the mobile device to determine when the user has left his or her mobile device at home or at another location and to responsively generate a notification to the user. Application File Date: 2015-06-01 Application Granted Date: 2017-07-25 Current Assignee: Afero Inc, Kiban Labs Inc Parent Number: US20140244836A1 Analytics engines for iot devices Abstract Methods and apparatuses for optimizing performance using data from an Internet of Things (IoT) device with analytics engines. The method receives, from a requesting Internet of Things (IoT) device, a request for trend data of physical resource consumption based at least in part on a portion of received data from at least one of a plurality of IoT devices. The method retrieves, from memory of an analytics engine, at least the portion of the received data. The method calculates, in a calculator of the analytics engine, the trend data based on at least the portion of the received data. The method transmits, to the requesting IoT device, the calculated trend data, wherein the requesting IoT device adjusts parameters in an IoT device using the calculated trend data. Application File Date: 2014-02-24 Application Granted Date: 2019-04-09 Current Assignee: Qualcomm Inc Parent Number: US9800468B2 Goal-driven provisioning in IoT systems Abstract Techniques are disclosed for provisioning Internet of Things (IoT) devices in accordance with a state machine model. More particularly, collections of IoT devices may be organized into enclaves, groups or “shoals” that operate as autonomous or semi-autonomous groups of devices functioning as a collective having a common objective or mission. IoT devices participating in a shoal may be provisioned with shoal-specific context information as part of their device-specific provisioning activity. By way of example, a shoal context object can include a current state variable and a target next state variable. The shoals target next state variable establishes a goal (e.g., for provisioning activity) without dictating how the individual shoal members (IoT device) are to achieve that goal. This mechanism may be used to drive a shoals separate devices through their individual provisioning state machines until the shoal itself is made operational. Application File Date: 2016-09-16 Application Granted Date: 2017-10-24 Current Assignee: McAfee LLC

Global IoT Sensors Market Segmentation:

Segmentation by Network Technology:
  • Wired Network Technology
  • Wireless Network Technology
Segmentation by Type:
  • Accelerometers
  • Gyroscopes
  • Magnetometers
  • Pressure sensors
  • Temperature sensors
  • Light sensors
  • Others (proximity sensors, acoustic sensors, motion sensors, radar sensors, etc.)
Segmentation by Application:
  • Consumer electronics
  • Healthcare
  • Automotive
  • Industrial
  • Building automation
  • Retail
  • Others (financial institutes, entertainment, transportation, energy, etc.)

Key Market Players included in the report:

  • Analog Devices (US)
  • Bosch Sensortec (Germany)
  • Broadcom (US)
  • General Electric (US)
  • Honeywell (US)
  • Infineon Technologies (Germany)
  • Monnit (US)
  • Murata Manufacturing (Japan)
  • NXP Semiconductors (Netherlands)
  • Omron (Japan)
  • Sensata Technologies (US).
  • Sensirion (Switzerland)
  • Siemens (Germany)
  • SmartThings (US)
  • STMicroelectronics (Switzerland)
  • TDK (Japan)
  • TE Connectivity (Switzerland)
  • Texas Instruments (US)

Below are the key development related to IoT Sensors Market in 2020 and 2021.

June 2021: MultiTech Acquires Radio Bridge. Combination to simplify and improve customer experience when deploying sensor-to-cloud solutions.. Multi-Tech Systems, Inc., a leading global supplier of Internet of Things (IoT) devices, services, and solutions, announced the acquisition of Radio Bridge, a Minnesota-based designer and manufacturer of long-range wireless sensors for the Internet of Things (IoT) industry using the LoRaWAN® wireless standard. Source May 2021: sensemetrics Acquired by Bentley Systems, Inc. to Accelerate Infrastructure IoT. IIoT innovator sensemetrics recognized for connectivity and industrial sensor data advancements; bringing active risk management and safety solutions to infrastructure, mining and construction markets. Source February 2021: Sensata Technologies Signs Definitive Agreement to Acquire Xirgo Technologies. Acquisition strengthens Sensata’s position as a data insight provider across transportation and logistics end-markets. Accretive acquisition of high growth business significantly accelerates Sensata’s Smart & Connected initiative.Xirgo CEO to lead the combined Xirgo and Smart & Connected business unit, leveraging the capabilities of the two organizations. Sensata Technologies (NYSE: ST), a leading industrial technology company and provider of sensor-rich solutions that create insight for customers, announced the acquisition of leading telematics and data insight provider, Xirgo® Technologies Intermediate Holdings, LLC (“Xirgo”) for $400 million, or approximately 16.0x 2021 EBITDA. Xirgo’s annual revenue is expected to exceed $100 million in 2021 with projected revenue growth in excess of 20% over the next several years. The transaction is expected to be accretive to Sensata’s adjusted net income per share in 2021. Through its Smart & Connected initiative Sensata has developed modular solutions that collect data from wireless sensors or related vehicle systems information using a connected vehicle area network. This enables Sensata to deliver actionable insight to drivers, maintenance workers and back-office personnel through mobile applications, web portals and via cloud APIs for integration into other enterprise systems. Sensata further leverages its leadership position in a diverse mix of sensors, including tire pressure monitoring systems, and know-how of vehicles and use cases within fleet operations to deliver these scalable offerings. Source  

Table of Contents
Chapter 1. Methodology and Scope                  1.1. Research Methodology                  1.2. Research Scope & Assumptions                  1.3. List of Data SourcesChapter 2. Executive SummaryChapter 3. Global IoT Sensors Market Outlook                  3.1. Market Segmentation                  3.2. Market Size and Growth Prospects, 2016 - 2027                  3.3. Value Chain Analysis                  3.4. Market Dynamics                      3.4.1. Market driver analysis                      3.4.2. Market restraint analysis        
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