IoT Sensors Market

IoT Sensors Industry worth $70.1 billion by 2029

The report "IoT Sensors Market by Sensor Type (Pressure, Temperature, Humidity, Image, Inertial, Gyroscope, Touch), Network Technology (Wired and Wireless), Vertical (Commercial IoT and Industrial IoT) and Region - Global Forecast to 2029" The global IoT sensors market size is projected to grow from USD 16.0 billion in 2024 to USD 70.1 billion by 2029;  it is expected to grow at a CAGR of  34.4% from 2024 to 2029.With the increasing internet penetration rate, IoT is finding applications in retail, consumer electronics, agriculture, automotive, transportation, and other verticals. The continuously increasing number of Internet users worldwide is expected to drive the demand for high-speed, low-cost IoT technology-based devices such as radio frequency identification (RFID) tags, barcode scanners, and mobile computers. This would result in an increased demand for sensors.

Browse 195 market data Tables and 61 Figures spread through 269 Pages and in-depth TOC on "IoT Sensors Market by Sensor Type (Pressure, Temperature, Humidity, Image, Inertial, Gyroscope, Touch), Network Technology (Wired and Wireless), Vertical (Commercial IoT and Industrial IoT) and Region - Global Forecast to 2029"
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The temperature sensors segment is expected to have the highest growth in Asia Pacific.

The temperature sensors segment is expected to have the highest growth in Asia Pacific. As more devices and systems connect to the internet, temperature sensors are increasingly used to gather data, from home automation and energy management to industrial process control and environmental. Temperature sensors are crucial in automating various processes and optimizing resource usage across industries. For example, in manufacturing, they monitor equipment temperature to prevent overheating and breakdowns, while in agriculture, they help optimize irrigation and climate control in greenhouses.

The market for the Industrial IoT vertical to hold a significant share of the IoT sensors market in 2023.

Industrial IoT is the inception of a new digital industrial technology, which is expected to enable the interconnection of sensors, machines, and IT systems across the value chain of manufacturing companies beyond a single enterprise. These interconnected systems interact with each other using standard internet-based protocols and enable companies to analyze data to predict the failure of machines. Industrial IoT is expected to make it possible to gather and analyze data related to machines, thereby enabling fast, flexible, and efficient processes to produce high-quality products at reduced costs.

China is expected to have the largest market size during the forecast period.

China is the fastest-developing country in the Asia Pacific. In China, IoT sensors have been preliminarily deployed for city management applications. They have been used in transportation, power, oil and gas, healthcare, and education sectors. As the country is a leading hub for semiconductor fabrication and production, its involvement in developing and deploying IoT solutions is crucial for the growth of semiconductor companies. The country is a leading manufacturer of textiles, electronics, and agricultural products. In production processes, IoT technology is used to monitor machinery, employee performance, and environmental conditions. The data can be further used to analyze, control, and prevent risks and avoid economic losses. End-to-end automation is a new concept that is gaining momentum in China for use in different industries.

Key Market Players

Texas Instruments (US), TE Connectivity (Switzerland), Broadcom (US), NXP Semiconductors (Netherlands), STMicroelectronics NV (Switzerland), Bosch Sensortec (Germany), TDK Corporation (Japan), Infineon Technologies (Germany), Analog Devices (US), Omron Corporation (Japan), Sensirion (Switzerland), Honeywell International (US), Siemens AG (Germany), Knowles Corporation (US), ABB Ltd. (Switzerland), Sensata Technologies (US), Emerson Electric Co. (US), Teledyne Technologies (US), SmartThings Inc. (US), Monnit Corporation (US), Murata Manufacturing Co., (Japan), Figaro Engineering Inc. (Japan), Trafag AG (Switzerland), NIDEC COPAL ELECTRONICS (Japan),  and KITA SENSOR TECH. CO., LTD. (Taiwan).

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IoT Sensors Market Size,  Share & Growth Report
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