Market Overview

IoT Sensors: 2018-2023 Global Market Analysis & Forecast by Sensor Type, Network Technology, Vertical, and Geography - ResearchAndMarkets.com

Share:

The "IoT
Sensors Market by Sensor Type, Network Technology, Vertical, and
Geography - Global Forecast to 2023"
report has been added to ResearchAndMarkets.com's
offering.

The IoT sensors market is expected to be valued at USD 5.28 by 2018 and
is projected to reach USD 22.48 billion by 2023, at a CAGR of 33.6%
between 2018 and 2023.

The growth of the IoT sensors market can be attributed to the increased
use of sensors in IoT devices and other applications owing to their
reduction in size, plummeting costs, and technological advancements;
introduction of 3 GPP Release 13 and Release 14 specifications; growth
in internet penetration rate; high demand for connected and wearables
devices; introduction of IPv6 creating larger address space; and
importance of real-time computing for IoT applications.

However, the lack of common protocols and communication standards,
shortage of technical know-how to use IoT devices, high power
consumption by connected devices, and high latency and limited bandwidth
issues will be the challenges for the market in future.

The major growth opportunities for the market are supportive government
initiatives and funding for IoT projects, emerging need for cross-domain
collaborations, high adoption of IoT by small and medium-sized
businesses, and benefits of implementation of a predictive maintenance
program for IoT applications.

Segment Performance

Pressure sensors are expected to hold the largest size of the IoT
sensors market by 2023. The market for pressure sensors is largely
driven by the increased concerns regarding safety, comfort levels, and
reduction in automobile emissions. The regulatory mandates requiring the
compulsory installation of onboard diagnostics to reduce greenhouse gas
emissions will further lead to the growth in the demand for pressure
sensors.

The IoT sensors market for gyroscopes is expected to grow at the highest
CAGR during the forecast period. The market is driven by the growing
demand for equipment optimized with sensors for applications such as
navigation and satellite positioning. Further, factors such as the huge
demand for remotely operated vehicle guidance and the growing adoption
of automation in industries and homes would also drive the market for
gyroscopes.

The industrial vertical is expected to hold the largest share of the IoT
sensors market by 2018. The emerging areas of applications such as
infotainment and telematics in the automotive industry and increasing
preference for carrying out complex industrial processes with ease are
likely to drive the market for the industrial IoT sensors. Further, the
factors such as the need to implement predictive maintenance techniques
in industrial equipment to monitor their working and to avoid
unscheduled downtimes in the production cycle are fueling the growth of
the IoT sensors market for the industrial sector.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Market, By Sensor Type

8 Market, By Network Technology

9 Market, By Vertical

10 Geographic Analysis

11 Competitive Landscape

12 Company Profiles

  • Analog Devices
  • Bosch Sensortec
  • Broadcom (Avago)
  • General Electric
  • Honeywell
  • Infineon Technologies
  • Libelium
  • Monnit
  • Murata Manufacturing
  • NXP Semiconductors
  • Omron
  • Sensata Technologies
  • Sensirion
  • Siemens
  • Silicon Laboratories
  • Smartthings
  • STMicroelectronics
  • TDK (Invensense)
  • Te Connectivity
  • Texas Instruments

For more information about this report visit https://www.researchandmarkets.com/research/xccb3r/iot_sensors?w=4

View Comments and Join the Discussion!