Global IoT Sensors Market - Upcoming Trends, Growth Drivers and Challenges – Forecast to 2026
Summary -
A new market
study, titled “Global IoT Sensors Market Analysis, Trends and
Opportunities 2020 - 2026” has been featured on WiseGuyReports.
This report focuses on
IoT sensors market which is experiencing strong growth. The report gives a
guide to the IoT sensors market which will be shaping and changing our lives
over the next ten years and beyond, including the market's response to the
challenge of the global pandemic.
Reasons to Purchase
• Gain a truly global
perspective with the most comprehensive report available on this market
covering 12+ geographies.
• Understand how the
market is being affected by the coronavirus and how it is likely to emerge and
grow as the impact of the virus abates.
• Create regional and
country strategies on the basis of local data and analysis.
• Identify growth
segments for investment.
• Outperform competitors
using forecast data and the drivers and trends shaping the market.
• Understand customers
based on the latest market research findings.
• Benchmark performance
against key competitors.
• Utilize the
relationships between key data sets for superior strategizing.
• Suitable for
supporting your internal and external presentations with reliable high quality
data and analysis
• Report will be updated
with the latest data and delivered to you within 3-5 working days of order.
Description:
Where is the largest and
fastest growing market for the IoT sensors? How does the market relate to the
overall economy, demography and other similar markets? What forces will shape
the market going forward? The IoT Sensors market global report from the
Business Research Company answers all these questions and many more.
The report covers market
characteristics, size and growth, segmentation, regional and country
breakdowns, competitive landscape, market shares, trends and strategies for
this market. It traces the market’s historic and forecast market growth by
geography. It places the market within the context of the wider IoT sensors
market, and compares it with other markets.
• The market
characteristics section of the report defines and explains the market.
• The market size
section gives the market size ($b) covering both the historic growth of the
market, the influence of the Covid 19 virus and forecasting its growth.
• Market segmentations
break down market into sub markets.
• The regional and
country breakdowns section gives an analysis of the market in each geography
and the size of the market by geography and compares their historic and
forecast growth. It covers the growth trajectory of Covid 19 for all regions,
key developed countries and major emerging markets.
• Competitive landscape
gives a description of the competitive nature of the market, market shares, and
a description of the leading companies. Key financial deals which have shaped
the market in recent years are identified.
• The trends and
strategies section analyses the shape of the market as it emerges from the
crisis and suggests how companies can grow as the market recovers.
• The IoT sensors market
section of the report gives context. It compares the IoT sensors market with
other segments of the IoT sensors market by size and growth, historic and
forecast. It analyses GDP proportion, expenditure per capita, IoT sensors
indicators comparison.
Scope
Markets Covered: 1) By
Product Type: Temperature sensors; Pressure sensors; Humidity sensors; Flow
sensors; Accelerometers; Magnetometers; Gyroscopes; Inertial sensors; Image
sensors; Others 2) By Application: Building Automation; Industrial Application;
Automotive Application; Healthcare Application; Retailing & Logistics
Application; Security Application; Agriculture Application; Other Applications
3) By End-user Industry: Healthcare; Automotive and Transportation;
Manufacturing / Industrial; Others
Companies Mentioned:
Texas Instruments; TE Connectivity; NXP Semiconductors; STMicroelectronics; TDK
Corporation
Countries: Argentina;
Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech
Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India;
Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New
Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia;
Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland;
Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam
Regions: Asia-Pacific;
Western Europe; Eastern Europe; North America; South America; Middle East;
Africa
Time series: Five years
historic and ten years forecast.
Data: Ratios of market
size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations:
country and regional historic and forecast data, market share of competitors,
market segments.
Sourcing and
Referencing: Data and analysis throughout the report is sourced using end
notes.
Major players in the IoT
sensors market are Texas Instruments, TE Connectivity, NXP Semiconductors,
STMicroelectronics, TDK Corporation, Infineon Technologies, Omron, Honeywell ,
Sensata Technologies, and Broadcom.
The global IoT sensors
market is expected to grow from $10.08 billion in 2019 and to $10.38 billion in
2020 at a growth rate of 3.03%. The slow growth in 2020 is mainly due to the
economic slowdown across countries owing to the COVID-19 outbreak and the
measures to contain it. The market is then expected to grow and reach $19.51
billion in 2023 at CAGR of 23.39%.
The IoT sensors market
consists of sales of IoT sensors and related services that are used in
healthcare, automotive, transportation, manufacturing and other industrial
sectors. The internet of things, or IoT, is a collection of interconnected
smart devices, mechanical and digital machines, objects, animals or people
supplied with unique identifiers (UIDs) and the ability to transmit data across
a network without needing human-to-human or human-to-computer interaction.
North America was the
largest region in the IoT sensors market in 2019. Asia Pacific was the fastest
growing region in the IoT sensors market in the forecast period.
In August 2019, Vodacom,
a South Africa based company, cellular and accessory provider for individual
and business customers looking for quick and fast service acquired IoT.nxt for
an undisclosed amount. This deal will significantly accelerate Vodacom’s Internet
of Things (IoT) strategy and transform its dedicated IoT business unit.
IoT.nxt, also a South Africa based company, focuses on delivering innovative
software and hardware solutions for the Internet of Things (IoT).
The data security
concerns are a key factor hampering the growth of the IoT sensors market. The
rate of data intrusions is also increasingly growing with the rising
technology. IoT systems are being newly built, and safety requirements are
lacking, this serves as a major obstacle to the growth of the market for IoT
sensors, since enterprise data protection is of great importance when designing
analytical solutions for many vertical applications. For instance, in 2018, a
group of researchers from Ruhr University Bochum in Germany identified a
security problem in the common messaging apps WhatsApp which could allow
hackers to spy on private group chats. Ransomware and denial-of-service attacks
(DoS attacks) will continue to rise and was among the most common cybersecurity
threats in 2018, according to senior security researcher Kyle Wilhoit.
Therefore, the data security concerns are expected to limit the growth of the
IoT sensors market.
The artificial
intelligence is a key trend in the IoT sensors market. Artificial intelligence
is the basic ingredient required to process the huge amount of data gathered
these days, and to maximize its value for the company. AI will assist IoT data
analysis in the following areas, such as data accuracy in time series,
predictive and advanced analytics, data preparation, geospatial and location
real-time (logistic data). In 2020, based on their AI capabilities, the major
cloud vendors, including Amazon, Microsoft and Google, are increasingly looking
to succeed. Various companies hope to expand their market share with AI
algorithms capable of exploiting machine learning and deep learning, allowing
businesses to derive more value from their ever-increasing data volumes.
The application of IoT
in automotive and transport sectors is a key factor driving the growth of the
IoT sensors market. The introduction of IoT in the automotive industry has
opened up new opportunities for carmakers and consumers worldwide. With
industrial and commercial use, IoT has become a popular hotspot for varied
multifunctional applications in the automotive sector. IoT offers enhanced
communication, control, and data delivery at any transportation point. For
instance, the companies like Mercedes-Benz, Volkswagen, Volvo, Toyota and
Google Inc. are increasingly investing in developing smart cars with rich
features that offer healthier, more convenient and more enjoyable driving
experiences. The driverless vehicles are likely to dominate the industry by
2030 according to NASDAQ estimates. Therefore, the application of IoT in
automotive and transport industries is expected to drive the growth of the IoT
sensors market.
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