IoT Sensors Market

Texas Instruments (US) and TE Connectivity (Switzerland) are the Important Player in the IoT Sensors Market

The Internet of Things (IoT) is an ever-growing network of physical objects featuring IP address for Internet connectivity as well as for the communication occurring between these objects and other internet-enabled devices and systems. These devices are embedded with software, sensors, actuators, and connectivity IC, which enables them to connect and exchange data. IoT sensors refer to the sensors used in smart applications, which require connectivity, real-time analytics, and common connecting platform for collecting and analyzing data. It is a computing concept where every physical object is connected to the internet, and all such objects are able to communicate with each other. Sensors are among the major components of IoT as they can measure various parameters from their surroundings, such as orientation, motion, light, sound, humidity, and temperature as well as biometrics, such as blood pressure and heart rates. The continued innovation in sensor technologies is expected to expand the IoT capabilities much further. The global IoT sensors market is expected to be worth USD 5.28 billion in 2018 and is projected to reach USD 22.48 billion by 2023, at a CAGR of 33.60% during the forecast period

The IoT sensors market is highly competitive with a large number of global and local market players. Product launches and developments have been the most prominent strategies followed by the key industry players in the recent years. Moreover, partnerships, collaborations, and strategic alliances are other major growth strategies followed by the companies in the IoT sensors market. The key players implementing these strategies in the IoT sensors market are Texas Instruments (US), TE Connectivity (Switzerland), Broadcom (US), NXP Semiconductors (Netherlands), STMicroelectronics (Switzerland), Bosch Sensortec (Germany), and TDK (Japan), among others.

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Texas Instruments (US) is an important player in the IoT sensors market. It is the frontrunner among the IoT sensors market, primarily, owing to its product portfolio, market perception, and geographic reach. In May 2018, the company announced the mass production of its ultra-wideband AWR1642 and IWR1642 mmWave sensors. The sensors deliver 3× more accurate sensing and can be used to enable new advanced driver assistance systems (ADAS) applications.

TE Connectivity (Switzerland) is another major player in the IoT sensors market. It focuses on both organic and inorganic growth strategies to expand its business offerings. For instance, in December 2017, the company unveiled AmbiMate MS4 sensor module. The module consists of a set of sensors that are focused on building automation and integrated together on a single printed circuit board (PCB). Big data, IoT, and energy and air quality management are driving the need to integrate multiple commonly used sensors into a single module. In May 2016, the company acquired Jaquet Technology Group (Switzerland) to expand its sensors portfolio offered for the automotive, industrial, and commercial transportation markets.

Related Reports:

IoT Sensors Market by Type (Pressure, Temperature, Humidity, Magnetometer, Accelerometer, Gyroscope, Inertial, Image), Network Technology (Wired & Wireless), Vertical (Consumer IoT, Commercial IoT, Industrial IoT), and Region - Global Forecast to 2022

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Report Code
SE 4506
Published ON
Aug, 2018
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