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The IoT sensors market is expected to grow from USD 8.4 billion in 2021 to USD 29.6 million by 2026; it is expected to grow at a CAGR of 28.6% during 2021–2026

·4-min read

Significant technological developments since the past decade have resulted in a considerable reduction in the size of several types of sensors, such as level, pressure, and image sensors. For instance, the size of pressure sensors has been reduced to 1 mm.

New York, March 15, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "IoT Sensors Market with COVID-19 impact by Sensor type, Network Technology, Vertical, Application And Geography - Global Forecast to 2026" -

Thus, owing to the rapid reduction in the sensor size and high adoption of microelectromechanical systems (MEMS) technology, sensors are finding applications in automotive, healthcare, and consumer products.This has played a major role in the growth of the overall sensors market.

During the last 5 years, smaller sensors have rapidly been deployed in devices such as smartphones, drones, wearables, and robots.

Pressure sensor is likely to be the largest contributor in the IoT sensors market during the forecast period
The market for pressure sensors is largely driven by 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 growth in demand for pressure sensors.

Additionally, the application of pressure sensors in autonomous cars would present several growth opportunities to players operating in the pressure sensor market.

Wireless network technology to account for the largest market size in 2020
The growing demand for wireless data from mobile devices, connected cars, and smart grids, among others, is creating the need for a more robust internet connection.Further, the proliferation of mobile devices and the rapidly increasing adoption of the bring-your-own-device (BYOD) concept as well as IoT within enterprises is expected to drive the growth of the market for wireless network technology.

The upcoming 5G mobile technology is expected to provide much faster internet connectivity and coverage, which would also boost the market for wireless network technology.

The IoT sensors market in APAC to grow at the highest CAGR during the forecast period
The market in APAC is expected to register the highest CAGR amongst all regions during the forecast period.The market in this region has been studied for India, China, Japan, South Korea, Australia, and the Rest of APAC.

APAC is a key market for consumer devices and appliances, automobiles, and healthcare products. This region has become a global focal point for large investments and business expansions.

In-depth interviews have been conducted with C-level executives, managers, and other executives from various key organizations operating in the IoT sensors market.

Break-up of profiles of primary participants for the report is given below:
• By Company Type: Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30%
• By Designation: C-Level Executives –40%, Directors – 40%, and Managers – 20%
• By Region: North America - 40%, Europe – 20%, APAC – 30%, and RoW – 10%

Major players in the IoT sensors market are as follows:
• Texas Instrument (US)
• TE Connectivity(Switzerland)
• Broadcom(US)
• NXP Semiconductors(Netherlands)
• STMicroelectronics (Switzerland)
• Bosch Sensortec (Germany)
• TDK (Invensense)(Japna)
• Infineon Technologies(Germany)
• Analog Devices(US)
• Omron(Japan)

Research Coverage:
The report defines, describes, and forecasts the IoT sensors market based on sensor type, network technology, vertical, and geography. It also analyzes competitive developments such as product launches and developments, agreements, partnerships, collaborations, merger and acquisitions, and expansions carried out by key players to grow in the market.

Key Benefits of Buying the Report
1. This report segments the IoT sensors market comprehensively and provides the closest approximations of the overall market size and that of the subsegments across different applications and regions.
2. The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the market. The competitive landscape section includes competitor ecosystem, product launches and developments, partnerships, and mergers and acquisitions carried out in the market in the recent past
Read the full report:

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