The IoT sensors market is expected to grow from USD 3.34 billion in 2015 to USD 38.41 billion by 2022, at a CAGR of 42.08% between 2016 and 2022. The growth of this market is propelled by the development of cheaper, smarter, and smaller sensors, growing market for smart devices and wearables, need for real-time computing of applications, and increase in demand for IoT sensors in various applications. The market is further driven by the supportive government initiatives, deployment of IPv6, and role of sensor fusion concept in IoT sensors market.
'Gyroscope is expected to grow at the highest rate during the forecast period'
Gyroscopes are increasingly being used in various industries such as automotive, industrial sector, healthcare, and consumer electronics sectors. The gyroscopes are very reliable sensors and provide accurate information about the product. This sensor is an important tool in portable instruments as it allows a device's motion to be tracked independently of GPS or other external location measurements. Moreover, in the current market scenario, MEMS-based sensors such as accelerometers, magnetometers, gyroscopes, and inertial sensors are witnessing increasing demand for smart applications such as smart city, automotive, and healthcare among others.
'The IoT sensors market in Asia- Pacific (APAC) is expected to grow at the highest rate during the forecast period'
Asia-Pacific is expected to be the fastest-growing market for IoT sensors. The APAC market is divided into India, China, Japan, South Korea, Australia, and Rest of APAC. Asia-Pacific is a major market for various sectors such as consumer electronics devices & appliances, automobiles, and healthcare among others. This region has become a global focal point for large investments and business expansion opportunities. The APAC market shows significant growth in all sectors. It has influenced the market for sensors used in consumer electronics. In the automobile sector, this region accounted for a share of more than 50% of the world's passenger car production (2015). Currently, China has been considered to be the major market for IoT sensors. Industries such as consumer electronics, automotive, and healthcare are the major industries contributing towards the growth of the Chinese market. Thus, the market for IoT sensor is expected to hold major share in China.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry people. Breakup of profile of primary participants has been given below:
- By Company Type: Tier 1 - 43%, Tier 2 - 31%, and Tier 3 - 26%
- By Designation: C-Level Executives - 38%, Directors - 34%, and Others - 28%
- By Region: North Americas - 37%, Europe - 28%, APAC - 23%, and RoW - 12%
The key market players profiled in the report are:
- Texas Instruments Incorporated (U.S.)
- STMicroelectronics N.V. (Switzerland)
- TE Connectivity, Inc. (Switzerland)
- NXP Semiconductors N.V. (The Netherlands)
- Broadcom Limited (U.S.)
- Robert Bosch GmbH (Germany)
- InvenSense, Inc. (U.S.)
- Infineon Technologies (Germany)
- ARM Holdings Plc. (U.K.)
- Omron Corporation (Japan)
- Sensirion AG (Switzerland)
- Analog Devices, Inc. (U.S.)
- SmartThings, Inc. (U.S.)
- KONUX Inc. (Germany)
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis-industry analysis (industry trends); market ranking analysis of top players; value chain analysis, and company profiles which comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the IoT sensors market; high-growth regions; and market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market penetration: Comprehensive information on IoT sensors offered by the top players in the overall IoT sensors market
- Product development/innovation: Detailed insights regarding R&D activities, emerging technologies, and new product launches in the IoT sensors market
- Market development: Comprehensive information about lucrative emerging markets-the report analyzes the markets for IoT sensors across regions
- Market diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the overall IoT sensors market
- Competitive assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the IoT sensors market