Global IoT sensors market is estimated to grow with 24.93% CAGR during the forecast period 2019-2027. The Internet of Things is the concept of connecting any device to the Internet and other devices. The IoT is a huge network of surrounding devices and database data to people, where it collects and shares data about the way these devices are used.

IoT includes an extraordinary number of things of all shapes and sizes. For example, smart microwaves-which can automatically cook food at the required time; self-driving cars, whose complex sensors detect objects in their path; wearable fitness devices that measure the heart rate and the number of steps one has taken that day, then utilizing that information to recommend exercise plans.

A sensor is a device that can sense or detect changes in an environment around it. Individually, a sensor is of no use, but when used in an electronic system, it plays a substantial role. A sensor measures a physical phenomenon (like temperature, pressure, and so on) and transforms it into an electric signal. For instance, some footballs are implanted with sensors which can track their speed and distance covered upon flinging and record those statistics via an app for future training sessions.

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The important core features of a good sensor are:

• Should not modify the measured phenomenon during the measurement process
• Sensitive to the phenomenon that it measures
• Not sensitive to other physical phenomena

Sensors are the prime elements of the IoT and are its front hardware carrying out the critical work of monitoring processes, taking measurements and collecting data. They are often one of the first steps towards implementation of IoT. Sensors such as temperature sensor, flow sensor, level sensor, pressure sensor and position sensor are used in the IoT applications.

Factors that are driving the growth of the market are:

• Growing demand for wearables and connected devices
• Increasing internet penetration
• High adoption rate across industries
• Reduction in cost
• Fast adoption of smart devices

Concerns about reliability and data security are expected to hamper the growth of the market. Adoption of IoT by small & medium-sized businesses, increasing implementation of IoT for predictive maintenance and government initiatives & funding for IoT create multiple opportunities for the market to grow. Characteristics like interoperability of sensors, bandwidth limitation and low battery life can challenge the IoT market.

The IoT sensors market has been segmented on the basis of sensor type, application and geography.

Based on the sensor type, the market is sub-segmented into temperature IoT sensors, flow IoT sensors, level IoT sensors, pressure IoT sensors, position IoT sensors and other IoT sensors.

Based on the application, the market is sub-segmented into building automation, industrial application, automotive application, healthcare application, retailing & logistics, security, agriculture and other applications.

Global IoT sensors market is segmented as:

• Market by sensor type
  • Temperature IoT sensors
  • Flow IoT sensors
  • Level IoT sensors
  • Pressure IoT sensors
  • Position IoT sensors
  • Other IoT sensors
• Market by application
  • Building automation
• Home automation
• Utility metering
• Water & waste management
  • Industrial application
  • Automotive application
  • Healthcare application
  • Retailing & logistics application
  • Security application
  • Agriculture application
  • Other applications

Geographically, the global IoT sensors market has been segmented on the basis of four major regions, which include:

• IoT Sensors North America Market – U.S. & Canada
• IoT Sensors Europe Market – UK, France, Germany, Italy, Spain, Russia and Rest of Europe
• IoT Sensors Asia Pacific Market – China, India, Japan, South Korea, Australia and Rest of Asia Pacific
• Rest of World- Latin America and Middle East & Africa

North America accounted for the largest share of the global IoT sensors market in 2018 and is expected to remain dominant throughout the forecast period. The increasing internet usage in technologically advancing economies and the growing adoption of wireless sensors and networks across major applications such as automotive and transportation, industrial, healthcare, oil & gas, and consumer electronics propel the growth of the IoT sensors market.

The major market players of the global IoT sensors market are:

• • • Texas instruments
    • Broadcom inc.
    • Nxp semiconductors
    • Stmicroelectronics
    • Bosch sensortec
    • Tdk invensense
    • Infineon technologies
    • Analog devices
    • Omron adept technologies
    • Te connectivity orimtec

Company profiles of the prominent market players are discussed in detail. Most of the companies look for strategies such as merger & acquisition, partnership, contracts, agreements, new product launch, to gain a competitive edge over other companies.

Key Findings of the global IoT sensors market:

• Level IoT Sensors Is Projected To Grow At A Significant Cagr
• Industrial Use Of IoT Sensors Is The Fastest Growing Application