Sarasota, FL, Jan. 19, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “IoT Sensors Market (Accelerometers, Light Sensors, Pressure Sensors, Temperature Sensors, Magnetometers, Gyroscopes, Others) for Healthcare, Retail, Industrial, Automotive, Consumer Electronics, Building Automation, and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016-2022”. According to the report, global IoT sensors market was valued at around USD 7.51 billion in 2016 and is expected to reach approximately USD 27.38 billion in 2022, growing at a CAGR of slightly above 24% between 2017 and 2022.
IoT is an emerging array of software-controlled sensors and other devices that allow machines to communicate with each other. By IoT sensors, efficiency machine performance can be tracked and allows for predictive maintenance that avoids costly breakdowns or inefficient routine-maintenance shut-downs. Hence IoT sensors play important role in IoT technology.
Browse through 13 Market Tables and 28 Figures spread through 110 Pages and in-depth TOC on “Global IoT Sensors Market: By Type, Application, Devices, Size, Trends, Industry Share and Forecast, 2016 – 2022”.
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A surge in demand for IoT sensors in the automotive industry and the booming industrial IoTmarket are strongly driving the growth of the IoT sensors market. Furthermore, the rise in demand for consumer electronics such as smart devices (Smart TV, Smart Phones, etc.) is further impelling the market growth. Increasing sales of consumer electronics are fueling the growth of the IoT sensors market worldwide. In addition, smart electricity, and water meters are anticipated to spur demand for these sensors over the next few years. The conjoint effect of all these trends is set to bolster the growth of the global IoT sensors market in coming years. However, privacy and security issues are hampering the growth of IoT sensors market.
Stringent government regulations and policies are encouraging the development of “smart cities” and this is offering a significant growth opportunity to the global IoT sensors market. IoT sensors are used in smart cities in smart grids, smart meters, intelligent traffic management systems, and smart parking among others. Moreover, technological advancements in the healthcare industry are set to offer the extensive opportunity for the escalation of the IoT sensors market.
Browse the full "IoT Sensors Market (Accelerometers, Light Sensors, Pressure Sensors, Temperature Sensors, Magnetometers, Gyroscopes, Others) for Healthcare, Retail, Industrial, Automotive, Consumer Electronics, Building Automation, and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022." report at https://www.zionmarketresearch.com/report/iot-sensors-market
Type segmentation of IoT sensor market includes pressure sensors, temperature sensors, accelerometers, gyroscopes, magnetometers, light sensors and others. On the basis of application, the IoT sensor market is fragmented into building automation, healthcare, automotive, retail, consumer electronics and others. Consumer electronics application segment is expected to hold a large share of IoT sensors market due to high adoption of different consumer electronics devices worldwide.
North America held largest share of IoT sensor market due to high penetration of smart devices in this region. Furthermore, North America is rapidly adopting new technology in its industrial sector. The manufactures are linking their shop-floor gear to cloud through IoT technology which is in turn surge the growth of IoT sensor market. In addition, automotive sector is also contributing high growth of IoT sensors market.
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Asia Pacific is expected to be the fastest growing region in the IoT sensors market during the forecast period. Increasing demand of IoT sensors for use in various smart consumer products and medical industry has been positively impacting the growth of IoT sensor market. Governments of economically emerging countries such as South Korea, India and China are entering into several public-private sectors for expanding its cloud services through its IoT and data center developments. This in turn is accelerating the growth of this market in Asia Pacific.
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In Latin America, Brazil is propelling the demand of IoT sensor son account of high adoption of consumer electronics devices. Furthermore, domestic sensors in various household electronic products such as air-conditioner, humidifier, refrigerator and smoke exhauster are escalating the demand of IoT sensors market in Latin America. Middle East and Africa is anticipated to record significant growth in IoT sensors market over the forecast period due to high investment in manufacturing and transportation sectors. Industries such as construction, consumer, insurance, retail, and telecommunications are increasing their investments in IoT sensor market.
Key participants in IoT sensor market are Infineon Technologies, InvenSense Inc., Libelium, ARM Holdings Plc., Robert Bosch GmbH, Digi International Inc., Honeywell International Inc., STMicroelectronics N.V. and Ericsson among others.
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The report segments global IoT sensors market as follows:
Global IoT Sensors Market: Type Segment Analysis
- Temperature Sensors
- Gyroscopes
- Accelerometers
- Pressure Sensors
- Light Sensors
- Magnetometers
- Others
Global IoT Sensors Market: Application Segment Analysis
- Automotive
- Healthcare
- Consumer Electronics
- Building Automation
- Industrial
- Retail
- Others
Global IoT Sensors Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East & Africa
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