The global IoT sensors market accounted to US$ 9.46 Bn in 2018 and is expected to grow at a CAGR of 23.9% during the forecast period 2019 – 2027, to account to US$ 65.79 Bn by 2027.
North America was the leading IoT sensors market in 2018 and Asia-Pacific is anticipated to witness the fastest growth throughout the forecast period. Across North America, the technological advancements has led to a highly competitive markets. North America is a hub of technological developments that comprises with economically robust countries.
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The report enables you to-
• Formulate significant competitor information, analysis, and insights to improve R&D strategies
• Identify emerging players with potentially strong product portfolio and create effective counter strategies to gain competitive advantage
• Identify and understand important and diverse types of IoT Sensors under development
• Develop market entry and market expansion strategies
• Plan mergers and acquisitions effectively by identifying major players with the most promising pipeline
• In-depth analysis of the product's current stage of development, territory and estimated launch date
The companies are continuously enhancing the overall business processes in order to meet the customers demand for high quality products and services in the best possible way. Being a technologically advanced country, coupled with high disposable incomes with individuals, the consumer electronics industry has blossomed in the region. The density of consumer electronic devices in the region is quite high. These factors have driven the IoT sensors market in North America.
Leading Key Players:
• 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.
• Texas Instruments Incorporated
The consumer electronics industry is witnessing immense growth. In the current scenario, various consumer electronic devices are used by consumers across the globe for a plethora of tasks. Consumer electronic devices such as smartphones, tablets, PCs, music players, etc. have become integral part of consumers’ lives. The consumer devices are becoming smarter with the ongoing technological advancements. The AI-enabled applications have stoked the demand for cheaper sensors.
The market for consumer electronics is growing the current scenario, owing to the fact that several semiconductor companies are regularly coming up with advanced technologies which is attracting the industry. Furthermore, wearable devices accounts for one of the fastest-growing segments of the IoT connected device industry. Advanced enterprises considers wearable as exceptional opportunity for mobile technology that can drive greater efficiency, improve workflow and enhance communication.
Connected cars enable the travelers or the car itself to automatically share the data within the vehicle and also outside the vehicle. Internet of things (IoT) is one of those technologies which has been breaking grounds to offer automotive manufacturers a new set of products and services which are entirely a new layer to the traditional car perceptions.
These new configurations may include sensors, controllers, lighting and software applications, these products and services are offered as stand-alone, where, the customer can plug and play as per the requirement or some of the features are built-in in the new generation cars. These systems can either be deployed in infotainment or automated control units of vehicles. Advancing research in connected and autonomous cars will further increase the scope of integrating IoT sensors in vehicles.
The IoT sensors market is segmented on the basis of types under temperature sensor, light sensor, pressure sensor, chemical sensor, motion sensor, and others. An IoT needs varied types of sensors to make performance of applications more reliable. As the things are not capable enough to capture states or perform actions unless all device or systems are fitted with the sensors.
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Reason to Buy:
• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global IoT Sensors Market.
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• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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