Dublin, March 04, 2024 (GLOBE NEWSWIRE) -- The "Global IoT Sensors Market by Offering (Image Sensors, RFID Sensors, Biosensors, Humidity Sensors, Optical Sensors, Others), Technology (Wired, Wireless), Sector (Manufacturing, Retail, Consumer Electronics, Others), & Geography - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global IoT sensors market is expected to reach $56.8 billion by 2030, growing at a CAGR of 22.7% during the forecast period of 2023-2030.
The growth of the IoT sensors market is driven by the increasing investments in Industry 4.0 technologies, government initiatives supporting the adoption of IoT devices, and the increasing integration of IoT sensors into connected and wearable devices. However, data security and privacy concerns restrain the growth of this market.
The growing use of IoT sensors for predictive maintenance and the proliferation of smart cities are expected to create growth opportunities for the players operating in the IoT sensors market. However, the high initial investment required for IoT ecosystem implementation is a major challenge for market growth. Additionally, the rising adoption of industrial robots and increasing integration of artificial intelligence into IoT sensors are key trends in the market.
In 2023, Asia-Pacific is expected to account for the largest share of the IoT sensors market. Moreover, this market is also projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the surging demand for smart sensor-enabled wearable devices, growing technological advancements in industrial sensors, increasing adoption of industrial robots, the advent of Industry 4.0, and increasing adoption of IoT devices in the manufacturing and healthcare industries.
The Asia-Pacific region is experiencing significant growth in various sectors, including healthcare, aerospace, and manufacturing. This growth can be attributed to increasing urbanization, rising health awareness, and higher disposable incomes. Japan, China, India, Singapore, and South Korea are investing a significant portion of their GDP into the healthcare and manufacturing sectors, which is driving the market growth.
In 2023, the image sensors segment is expected to account for the largest share of the IoT sensors market. Moreover, this segment is also projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the rising demand for image sensors in mobile devices and increasing developments by market players in this market. Image sensors offer several advantages, such as increased sensitivity, reduced dark noise resulting in higher image fidelity, enhanced pixel well depth, and lower power consumption, among other benefits.
In 2023, the wireless technology segment is expected to account for the larger share of the IoT sensors market. Moreover, this segment is also projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing use of wireless sensor networks for various applications and the increasing adoption of IoT devices across various sectors.
Various wireless technologies are employed in IoT systems, including ZigBee, Wi-Fi, Bluetooth, Z-Wave, Infrared, EnOcean, and Thread. These wireless technologies facilitate the connection of IoT devices to wireless sensors, allowing them to gather and analyze information about the surrounding environment. The demand for wireless IoT sensors is increasing as they require less maintenance and power.
In 2023, manufacturing segment is expected to account for the largest share of the IoT sensors market. However, the healthcare segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing developments by market players, increasing integration of IoT sensors in medical equipment, and growing demand for IoT devices for patient monitoring applications.
Several companies are focusing on boosting the domestic manufacturing of medical devices and improving the efficiency of healthcare centers worldwide. For instance, in October 2021, Honeywell International Inc. (U.S.) launched the Real-Time Health Monitoring System (RTHMS), a smart edge-to-cloud communication platform integrated with sensing technology. It helps in remote and real-time monitoring of patients, improves care delivery, enhances healthcare worker productivity, and enables process efficiency.
Key questions answered in the report:
- Which are the high growth market segments in terms of offering, technology, sector, and countries?
- What is the historical market for IoT sensors across the globe?
- What are the market forecasts and estimates from 2023-2030?
- What are the major drivers, restraints, and opportunities in the global IoT sensors market?
- Who are the major players in the global IoT sensors market, and what shares of the market do they hold?
- Who are the major players in various countries, and what shares of the market do they hold?
- How is the competitive landscape?
- What are the recent developments in the global IoT sensors market?
- What are the different strategies adopted by the major players in the global IoT sensors market?
- What are the geographical trends and high growth countries?
- Who are the local emerging players in the global IoT sensors market and how do they compete with the other players?
Market Insights
Factors Affecting Market Growth
- Increasing Investments in Industry 4.0 Technologies Driving the Adoption of IoT Sensors
- Government Initiatives Supporting the Adoption of IoT Devices Across Various Sectors
- Increasing Integration of IoT Sensors into Connected and Wearable Devices Supporting Market Growth
- Data Security and Privacy Concerns Hampering the Adoption of IoT Sensors
- Growing Use of IoT Sensors for Predictive Maintenance Expected to Generate Growth Opportunities for Market Players
- Proliferation of Smart Cities Expected to Increase the Adoption of IoT Sensors
- High Initial Investment Requirements Impacting the Implementation of IoT Ecosystems
Trends
- Rising Adoption of Industrial Robots
- Increasing Integration of Artificial Intelligence into IoT Sensors
Porter's Five Forces Analysis
Value Chain Analysis
Case Studies
- Monitoring System for Precision Farming
- IoT Technology for Manufacturing Operations
- Real-Time IoT Tracking and Visualization
Company Profiles
- Texas Instruments Incorporated
- Bosch Sensortec GmbH
- STMicroelectronics N.V.
- Honeywell International Inc.
- Murata Manufacturing Co., Ltd.
- TE Connectivity Ltd.
- OMRON Corporation
- Analog Devices, Inc.
- NXP Semiconductors N.V.
- Infineon Technologies AG
- Broadcom Inc.
- TDK Corporation
- Vighnaharta Technologies Pvt. Ltd.
- ANBSensors
- Sensoneo
Scope of the Report:
Market Assessment, by Offering
- Image Sensors
- Biosensors
- RFID Sensors
- Accelerometer Sensors
- Flow Sensors
- Pressure Sensors
- Optical Sensors
- Humidity Sensors
- Temperature Sensors
- Level Sensors
- Proximity Sensors
- Gas Sensors
- Other IoT Sensors
Market Assessment, by Technology
- Wireless Technology
- Wi-Fi
- Bluetooth
- Zigbee
- Z-Wave
- Other Wireless Technologies
- Wired Technology
Market by Assessment, by Sector
- Manufacturing
- Surveillance & Safety
- Machine Inspection & Maintenance
- Smart Robotics
- Production Planning
- Inventory & Warehouse Management
- Transportation & Logistics
- Traffic Management
- Fleet Management
- Parking Management
- Telematics
- Retail
- Customer Experience Management
- Operations Management
- Inventory Management
- Healthcare
- Telehealth/Telemedicine
- Hospital Operations & Workflow Management
- Remote Patient Monitoring
- Medical Devices
- Other Healthcare Applications
- Oil & Gas
- Remote Monitoring
- Worker Safety & Security
- Predictive Maintenance
- Asset Tracking and Management
- Energy & Utilities
- Smart Grid Management
- Predictive Maintenance
- Asset Management
- Security And Safety
- Consumer Electronics
- Home Automation
- Smart Wearables
- Security & Safety
- Agriculture
- Crop Monitoring
- Livestock Monitoring
- Smart Irrigation
- Inventory Management
- Weather Tracking and Monitoring
Market Assessment, by Geography
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Middle East & Africa
- Latin America
For more information about this report visit https://www.researchandmarkets.com/r/nz7mw7
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
