IoT Sensors Market Outlook – 2030
The global IoT sensors market size is expected to reach $141.80 billion by 2030 from $12.37 billion in 2020, growing at a CAGR of 28.1% from 2021 to 2030.
Sensors play an important role in creating solutions using IoT technology. Sensors are devices that detect external information, replacing it with a signal that humans and machines can distinguish. IoT sensors made it possible to collect data in almost any situation and are used in various fields such as medical care, nursing care, industrial, logistics, transportation, agriculture, disaster prevention, tourism, and regional businesses.
With the expansion of fields in which sensors play an important role, the market is still growing with a variety of sensors. IoT sensors have applications in almost every industry vertical, however, have the highest usage in the industrial sector followed by automotive, agriculture, and healthcare.
A wide variety of industrial IoT sensors are available for practically any industrial need. For mission-critical industrial applications, these sensors can help to improve processes and offer unmatched asset protection. Sensing technology and its various applications are constantly evolving in line with advancements in technology and business needs. IoT sensors are available to detect a wide variety of real-world properties–from distance to heat to pressure.
In addition, IoT sensors are used to measure physical, chemical, or biological quantities with accuracy and repeatability. Their reliability has resulted in widespread adoption and use across various industries ranging from healthcare to infrastructure to manufacturing. Furthermore, infrastructure systems such as smart grids, smart homes, smart water networks, and intelligent transportation connect through the concept of the Internet of Things (IoT), where there is extensive use of sensors. Prominent factors that drive the IoT sensors market size include the increasing use of sensors in IoT applications, high demand for connected and wearable devices, and growing usage of IoT sensors in the automotive and industrial sectors.
The advent of IoT technology in the automotive industry has opened new opportunities for carmakers and buyers all across the world. With use at both industrial and commercial levels, IoT sensors in the automotive sector have become a prominent hotspot for various multi-purpose applications. From connected cars to automated transport systems, applications of the Internet of Things (IoT) have made a deep impression on the global automotive market. Nowadays an ordinary car is equipped with a large number of IoT sensors, services, and devices that connect and work via the Internet. All these connections create a common network for IoT for automotive development.
However, one of the major restraints is data privacy and security-related concerns, which hampers the IoT sensors market growth. On the contrary, the surge in demand for IoT sensors in the development of smart cities is anticipated to provide lucrative opportunities for the expansion of the IoT sensors industry during the forecast period.
Key Takeaways
- The global market study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.
- More than 1,500 product literature, industry releases, annual reports, and other such documents of major market industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
- The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions to achieve their most ambitious IoT Sensors Market growth objectives.
Segment Overview
The global IoT sensors market is segmented into type, network technology, end-use, and region.
Based on sensor type, it is categorized into temperature sensor, proximity sensor, pressure sensor, level sensor, gas sensor, image sensor, optical sensor, gyroscope sensor, humidity sensor, accelerometer sensor, and others.
By Type
Pressure Sensor segment will dominate the market during 2021 - 2030
Based on network technology, it is categorized into wired and wireless. The wireless technology segment is further divided into Wi-Fi, Bluetooth, Zigbee, Z-Wave, NFC, RFID, and others.
By Network Technology
Wireless segment will grow at a highest CAGR of 29.20% during the forecast period
Depending on end use, it is fragmented into consumer electronics, automotive, industrial healthcare, food & beverages, aerospace & defense, transportation, agriculture, and others.
By End Use
Consumer Electronics segment will secure the leading position during 2021 - 2030
Region-wise, the IoT sensors market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
By Region
Asia-Pacific region would exhibit the highest CAGR of 29.10% during 2021 - 2030
Top Impacting Factors
Prominent factors that drive the growth of the IoT sensors market include an increase in the use of sensors in IoT applications, high demand for connected and wearable devices, and growth in the use of IoT sensors in automotive and industrial sectors. However, data privacy and security-related concerns restrict the IoT sensors market growth. Conversely, the surge in demand for IoT sensors in the development of smart cities is anticipated to provide potential opportunities for the expansion of the IoT sensors market.
Competitive Analysis
Competitive analysis and profiles of the major key players such as Texas Instruments (U.S.), Siemens (Germany), STMicroelectronics (Switzerland), Honeywell (U.S.), TE Connectivity (Switzerland), NXP Semiconductors (Netherlands), Infineon Technologies (Germany), General Electric (U.S.), OMRON Corporation (Japan), and Murata Manufacturing Co., Ltd. (Japan) are provided in this report. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
Key Market Dynamics
The IoT Sensors Market is witnessing substantial growth fueled by the proliferation of smart devices and the increasing need for real-time data collection and analysis. Industries such as manufacturing, healthcare, and agriculture are adopting IoT sensors to enhance operational efficiency, optimize resource management, and improve decision-making processes. The integration of advanced technologies like AI and machine learning enables better data interpretation and predictive analytics. As the demand for smart homes and industrial automation rises, the IoT Sensors Market is poised for expansion, with innovations in sensor technology and connectivity driving new applications and market opportunities.
Regional/Country Market Outlook
North America: North America is a leading market for IoT sensors, driven by a robust technology ecosystem and increasing investments in smart infrastructure. Industries such as healthcare, manufacturing, and automotive are adopting IoT sensors to enhance operational efficiency and data analytics capabilities. The presence of major tech companies accelerates innovation and market development.
Asia-Pacific: The Asia-Pacific region is witnessing rapid growth in the IoT Sensors Market, fueled by urbanization and advancements in wireless communication technologies. Countries like China and India are investing heavily in smart city initiatives and industrial automation, significantly increasing the demand for IoT sensors across various sectors.
Europe: Europe’s IoT Sensors Market is expanding due to strict regulatory frameworks and a strong focus on sustainability. The integration of IoT sensors in industries such as energy, manufacturing, and healthcare is gaining traction, driven by the need for enhanced monitoring and automation. Collaborative efforts among businesses and governments support innovation in IoT technologies.
LAMEA: The LAMEA IoT Sensors Market is evolving, with increasing recognition of the benefits of IoT technologies across various sectors. Countries in the region are investing in smart agriculture, transportation, and energy management solutions, although challenges such as infrastructure and technology adoption levels may hinder growth.
Report Coverage & Deliverables
This report delivers in-depth insights into the IoT Sensors Market overview into type, network technology, end-use, regions, and major players' key strategies. It offers detailed market forecasts and emerging trends.
Type Insights
The global IoT sensors market is segmented by sensor type into various categories, including temperature sensors, proximity sensors, pressure sensors, level sensors, gas sensors, image sensors, optical sensors, gyroscope sensors, humidity sensors, accelerometer sensors, and others. Moreover, the pressure sensor is the leading type, driven by its widespread applications in various industries such as automotive, healthcare, and industrial automation. Pressure sensors are crucial for monitoring and controlling processes, enhancing safety and efficiency. As industries increasingly adopt IoT solutions for real-time data collection and analysis, the demand for IoT sensors including pressure sensors, temperature sensors, and more in the coming years.
Network Technology Insights
On the basis of network technology, the IoT sensors market is categorized into wired and wireless technologies. the wired segment is the largest in the IoT sensors market. Wired technologies offer reliability and stability, making them ideal for applications requiring consistent data transmission and power supply. Industries such as manufacturing and energy are particularly reliant on wired networks for their IoT deployments, ensuring that the wired segment maintains a significant share of the market.
End Use Insights
Depending on end use, the IoT sensors market is fragmented into several sectors, including consumer electronics, automotive, industrial, healthcare, food & beverages, aerospace & defense, transportation, agriculture, and others. Further, the consumer electronics segment accounted major share of the IoT sensors market. The increasing adoption of smart home devices, wearables, and connected appliances is driving demand in this sector. As consumers seek enhanced convenience, automation, and connectivity in their everyday products, the consumer electronics segment is expected to witness continued growth, significantly influencing the overall market landscape
Regional Insights
Regionally, the IoT sensors market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific is the largest market for IoT sensors, propelled by rapid industrialization, urbanization, and technological advancements. Countries like China and India are investing heavily in IoT infrastructure and smart city initiatives, leading to increased adoption of IoT sensors across various sectors. The region’s focus on enhancing connectivity and automation is expected to drive substantial growth in the IoT sensors market during the forecast period.
Key Strategies and Developments
- On October 2, 2024- Dryad Networks, an IoT company, developed gas sensors with built-in AI to detect wildfires before they spread. These sensors can identify the presence of gases typically emitted during the early stages of a fire, allowing for rapid response and potentially saving vast areas of forest from destruction. This innovative use of IoT technology highlights the growing importance of smart sensors in environmental protection and disaster prevention.
- On September 26, 2024-Humidity sensors, also known as hygrometers, measure the amount of moisture in the air and report relative humidity. These sensors are crucial in various applications, from weather forecasting to industrial processes where maintaining specific humidity levels is essential. The market for humidity sensors is expanding as more industries recognize their value in improving operational efficiency and product quality. The integration of these sensors into IoT systems allows for real-time monitoring and control, enhancing their utility and effectiveness.
Key Benefits For Stakeholders
- This study comprises an analytical depiction of the global IoT sensors market outlook along with the current trends and future estimations to depict the imminent investment pockets.
- The overall IoT sensors market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and IoT sensors market opportunities with a detailed impact analysis.
- The current IoT sensors market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the IoT sensors market share of key vendors.
IoT Sensors Market Key Segments
By Type
- Temperature Sensor
- Proximity Sensor
- Pressure Sensor
- Level Sensor
- Gas Sensor
- Image Sensor
- Optical Sensor
- Gyroscope Sensor
- Humidity Sensor
- Accelerometer Sensor
- Other
By Network Technology
- Wired
- Wireless
- Wi-Fi
- Bluetooth
- Bluetooth Smart
- Bluetooth Smart/Ant+
- Bluetooth 5
- Zigbee
- Z-Wave
- NFC
- RFID
- Others
By End Use
- Consumer Electronics
- Automotive
- Industrial
- Healthcare
- Food & Beverage
- Aerospace & Defense
- Transportation
- Agriculture
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Texas Instruments
- TE Connectivity
- STMicroelectronics
- NXP Semiconductor
- Infineon Technologies
- Honeywell
- Siemens
- General Electric
- OMRON Corporation
- Murata Manufacturing Co.
IoT Sensors Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Network Technolgoy |
|
 By End Use |
|
 By Region |
|
 Key Market Players | Infineon Technologies, Murata Manufacturing Co., Honeywell, TE Connectivity, OMRON Corporation, Texas Instruments, Siemens, General Electric, STMicroelectronics, NXP Semiconductor |
Analyst Review
According to insights of CXOs of leading companies, the IoT sensors market exhibits substantial scope for growth globally. Currently, it is in continuous growing stage, owing to increase in demand for IoT sensors, owing to their wide use in automotive and industrial sectors. Surge in penetration of Internet of Things and Industry 4.0, increase in industrial automation, and promising government initiatives toward usage of sensors drive the IoT sensors market growth.
Incorporation of sensors into any device increases its functionality, accuracy, and efficiency, which boosts their demand in the IoT sensors market. Moreover, IoT sensors are used to keep a track of various parameters such as temperature, pressure, flow, and level to control devices. This is attributed to the fact that sensors measure and feed their values to a centralized unit, which controls these parameters automatically.
Increase in trend of robotics in production process is anticipated to boost growth of the overall IoT sensors market. Considering regional trends of the IoT sensors market, Asia-Pacific is projected to account for the largest market size. On the other hand, LAMEA is in the initial phase, in terms of adoption of IoT sensors.
Key players of the market focus on introducing technologically advanced products to remain competitive in the market. Product launches, agreement, collaboration, and partnership are expected to be prominent strategies adopted by the market players.
The IoT Sensors Market is estimated to grow at a CAGR of 28.1% from 2021 to 2030.
The IoT Sensors Market is projected to reach $141.80 billion by 2030.
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Increase in use of sensors in IoT applications, and high demand for connected and wearable devices etc. boost the IoT Sensors market growth.
The key players profiled in the report include Texas Instruments (U.S.), Siemens (Germany), STMicroelectronics (Switzerland), and many more.
On the basis of top growing big corporations, we select top 10 players.
The IoT Sensors Market is segmented on the basis of type, network technology, end use, and region.
The key growth strategies of IoT Sensors market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Asia-Pacific region would grow at a highest CAGR of 29.1% during the forecast period.
Pressure Sensor segment will dominate the market by the end of 2030.
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