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The global sensors in Internet of Things (IoT) devices market is expected to reach a market size of USD 204.74 Billion at a steady CAGR of 30.8% in 2028, according to latest analysis by Emergen Research. This steady revenue growth of the market can be attributed to increasing Internet and wearable medical device penetration and growing trend of smart factories and automation of various manufacturing processes. Adoption of IoT-enabled sensors and devices to enable more flexible manufacturing processes and to improve productivity has been increasing. Growing need to monitor, control, and improve operational efficiency has also been resulting in growing adoption of sensors in IoT devices in manufacturing and automotive industries. Smart city initiatives in developing countries are also contributing to growing demand for sensors in Internet of Things devices, and the trend is expected to continue during the forecast period. Manufacturing industries are increasingly adopting sensors in IoT devices for employee safety and well-being, profitable process workflows, and improved space utilization. Technological advancement in sensors, field devices, and robots is projected to boost deployment of sensors in a growing range of IoT devices is also expected to support market growth over the forecast period.
The report is updated with the latest economic scenario and market scope with regard to the ongoing COVID-19 pandemic. The report covers growth prospects as well as current and futuristic revenue estimations in a post COVID scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market. The pandemic has changed the economic scenario of the world and has affected several sectors of the market. The report estimates the market for Sensors in Internet of Things (IoT) Devices according to the impact of COVID-19.
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The leading market contenders listed in the report are:
Acuity Brands, Bosch Sensortec GmbH, Cisco Systems, Ericsson, Google Inc., Honeywell International Inc., HTC Corporation, IBM, Infineon Technologies, and Intel Corporation
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Market Segmentations of the Sensors in Internet of Things (IoT) Devices Market
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Regional Outlook of the Sensors in Internet of Things (IoT) Devices Market
The global Sensors in Internet of Things (IoT) Devices market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East Africa. In this section, authors of the report have studied the presence of the global Sensors in Internet of Things (IoT) Devices market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
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