Increasing adoption of sensor-based IoT-enabled solutions in the healthcare sector, coupled with growing automation trend in various industries is driving market growth.
Vancouver, BC -- (SBWIRE) -- 04/22/2021 -- 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.
The latest market report offers an in-depth analysis of quantitative and qualitative factors affecting the industry growth. Such elements of the report, along with the growth forecast over the foreseeable future, enable the reader to obtain meaningful insights into the global market.
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Key Highlights of Report
In October 2020, Cisco Systems announced the launch of two new cloud-managed IoT sensor solutions, namely Meraki MT sensors and Industrial Asset Vision sensors. The IoT sensor solutions are expected to help businesses simplify facility and asset monitoring across their organizations, from outdoor Operation Technology (OT) to indoor IT closet spaces at scale.
The manufacturing segment accounted for largest market share in 2020. Manufacturers across various industries are adopting IoT solutions with increased focus on sensors, robotics, centralized tracking, cloud, and quality inspection in order to implement smart manufacturing, which is projected to boost demand for sensors for such solutions and applications.
The pressure sensors segment revenue is expected to expand at a rapid CAGR of 31.5% during the forecast period. The ability of pressure sensors to detect fluctuations or drops in pressure is driving utilization in various processes in manufacturing facilities.
The wireless segment accounted for a significantly high revenue share in the sensors in Internet of Things (IoT) devices market in 2020. Wireless sensor networks are effective in harsh or hostile environments, offer an easily scaled solution, and enable remote data collection and transmission, which are factors driving demand for wireless sensor networks.
Key players in the market include Acuity Brands, Bosch Sensortec GmbH, Cisco Systems, Ericsson, Google Inc., Honeywell International Inc., HTC Corporation, IBM, Infineon Technologies, and Intel Corporation.
Sensors in Internet of Things (IoT) Devices Market Segmentation:
Emergen Research has segmented the global sensors in Internet of Things (IoT) devices market on the basis of application, sensor type, network technology, and region:
Application Outlook (Revenue, USD Billion; 2021–2028)
Healthcare
Transport
Manufacturing
Retail
Others
Sensor Type Outlook (Revenue, USD Billion; 2021–2028)
Temperature sensors
Pressure sensors
Chemical sensors
Light sensors
Motion sensors
Other sensors
Network Technology Outlook (Revenue, USD Billion; 2021–2028)
Wired
Wireless
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Additional information offered by the report:
A complete overview of the global Sensors in Internet of Things (IoT) Devices market.
Detailed examination of the various market dynamics, including drivers, opportunities, challenges, threats, constraints, and development prospects prevailing in the global market.
Diverse market trends observed on regional and global levels. The report also elaborates on the market size and shares governed by the major geographies, combined with a precise growth forecast analysis, cost analysis, micro- and macro-economic indicators, and regulatory framework.
A vivid analysis of the company profiles of the key market contenders operating in the global Sensors in Internet of Things (IoT) Devices market.
Extensive research & development assessment, and a detailed study of the growing demand for new products and the increasing application of the existing and new products.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. Sensors in Internet of Things (IoT) Devices Market Segmentation & Impact Analysis
4.1. Sensors in Internet of Things (IoT) Devices Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing adoption of smartphones in developing countries
4.2.2.2. Low cost of sensors
4.2.2.3. Increasing adoption of smart lighting in office spaces and smart buildings
4.2.3. Market restraints analysis
4.2.3.1. Increasing chances of security attacks
4.2.3.2. Lack of robust security systems
4.2.3.3. Complexity of systems
4.2.3.4. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Sensors in Internet of Things (IoT) Devices Market By Application Insights & Trends, Revenue (USD Billion)
5.1. Application Dynamics & Market Share, 2020 & 2028
5.1.1. Healthcare
5.1.2. Transport
5.1.3. Manufacturing
5.1.4. Retail
5.1.5. Others
CONTINUED..!!
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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