IoT Sensors Market Anticipated to Generate a Revenue of USD 148.60 Billion and Rise at a CAGR of 28.3% by 2030

According to the most recent analysis by Emergent Research, the size of the global IoT sensors market reached USD 15.58 billion in 2021 and is projected to grow at a revenue CAGR of 28.3% over the forecast period. A few of the major reasons propelling the market revenue growth include the rapid development of industrial technologies like Industry 4.0 and the Industrial Internet of Things (IoT), as well as an increase in the use of IoT sensors because of their affordability and small design. Micro-Electromechanical Systems (MEMS) are in high demand as a result of improving consumer electronics, which is fueling the market’s revenue growth.

Emerging trends in the worldwide IoT sensors market include the expansion of 5G deployment, greater electronic content in automobiles, electric vehicles, and autonomous vehicles, as well as IoT equipment in smart homes. IoT sensors market growth is anticipated to be fueled by rising demand for Industrial IoT (IIoT) integration in industries that require sensor-based measurements for observations and decision support. According to geography, North America is anticipated to rule the market during the projection year.

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Some Key Highlights From the Report

• In 2021, the segment for pressure sensor products contributed significantly to sales. Some of the key reasons influencing the segment’s revenue growth are cost effectiveness, increased durability, and superior resistance to vibration, shock, and dynamic pressure fluctuations. The need for pressure sensors is also being driven by their versatility in applications such as fluid mechanics, aerodynamics, thermodynamics, soil mechanics, and biophysics, as well as their ability to function at high temperatures and with quick responses. Pressure sensors, like piezo sensors, can also be integrated with an IoT system to monitor real-time pressure fluctuations, which is what is driving the demand for pressure sensors, particularly in the industrial sector.
• In 2021, the wireless sector represented the greatest revenue share. One of the key aspects boosting the segment’s revenue growth is the ease of gathering environmental data over a lengthy period with little manual labor. Additionally, the wireless segment enables accurate measurement of numerous parameters, including vibration and air temperature. Employing wireless sensors enables businesses to keep an eye on their properties as well as spot and follow any suspicious activities.
• TE Connectivity, NXP Semiconductors, Texas Instruments Incorporated, STMicroelectronics, OMRON Corporation, Siemens, Infineon Technologies AG, Murata Manufacturing Co., and InvenSense are a few notable players in the global market study (TDK).

Emergen Research has segmented the global IoT sensors market based on sensor type, network technology type, vertical, and region:

• Sensor Type Outlook (Revenue, USD Billion; 2019-2030)
  • Pressure sensor
  • Temperature sensor
  • Flow sensor
  • Humidity sensor
  • Magnetometer
  • Accelerometer
  • Inertial sensor
  • Gyroscope
  • Touch sensor
  • Image sensor
  • Acoustic sensor
  • Proximity sensor
  • Occupancy sensor
  • Others

• Network Technology Type Outlook (Revenue, USD Billion; 2019-2030)
  • Wired
    1. Lonworks
    2. KNX
    3. Ethernet
    4. Modbus
    5. Digital Addressable Lighting Interface (DALI)
  • Wireless
    1. Wifi
    2. Zigbee
    3. Bluetooth
    4. Z-wave
    5. NFC
    6. ENOCEAN
    7. RFID
    8. GPS
    9. Others

• Vertical Outlook (Revenue, USD Billion; 2019-2030)
  • Consumer IoT
    1. Home automation
    2. Smart cities
    3. Wearable electronics
    4. Consumer appliances
  • Commercial IoT
    1. Retail
    2. Aerospace & Defense
    3. Financial institutes
    4. Entertainment
    5. Logistics & supply chain
    6. Corporate offices
  • Industrial IoT
    1. Industrial automation
    2. Energy
    3. Transportation
    4. Smart agriculture
    5. Healthcare

• Regional Outlook (Revenue, USD Billion; 2019-2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • the Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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