Market Highlights
Considering
the rapid growth of science and technology, demand is growing for electronic
security, especially regarding the security features with remote identification
via the internet. Therefore, in the near future, the Internet of Things (IoT)
is likely to attract high investment and generate higher revenue, adding a new
chapter to the growth of Information Technology (IT) industry. It is the demand
for IoT that is getting IT companies, clients from non-IT industry verticals
like industrial, commercial, and consumer. As the variety rises, IoT based devices
are becoming available as body wear, footwear, eyewear, wrist wear, neckwear,
and others.
Market
Research Future (MRFR) has published and released a research report about the
global IoT sensor market that foretells expansion for this market at 42% CAGR (Compound
Annual Growth Rate) during the forecast period between 2017 and 2023. In terms
of value, the amount of CAGR revenue has been calculated as close to US $ 40
bn.
The
key factors driving the growth of the global IoT sensor market is the necessity
of connected devices. Other factors contributing to the market growth are the
increasing adoption of smart devices & wearables, increasing preference for
nominally priced smarter IoT devices among various industries &
institutions, and government aid with regards to manufacturing &
distribution of IoT sensors. Therefore, their demand is increasing across
different industries.
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Segmentation:
The
global IoT sensors market has been segmented on the basis of network
technology, component, type, vertical, and lastly, region. The Component-based
segmentation of this market covers the hardware platform and software platform.
Hardware can be primarily segmented into energy management, consumer devices,
lighting control systems, fire protection systems, and security & access
control systems. Other segments of hardware can be listed as consumer
appliances, home theatre projectors, next-generation game consoles, set-top
boxes, smart TVs, and wearable devices. Common examples of consumer appliances
include a smart oven, smart dishwasher, smart washing machine, and a smart
refrigerator. Software platforms have been segmented into data management,
application security, location analytics, network bandwidth management, network
security, real-time/streaming analytics, and remote monitoring system.
Based
on network technology, the global IoT sensors market can be broadly segmented
into wired network technology and wireless network technology. Wired network
technology covers the Ethernet, digital addressable lighting interface,
LonWorks, KNX (Konnex), and Modbus. Wireless network technology includes
Bluetooth, EnOcean, and digital enhanced cordless telecommunications -
ultra-low energy (DECT-ULE). Wireless network technology also covers Profibus,
near-field communication (NFC), thread, radio-frequency identification (RFID),
Wi-Fi, WHART, Z-Wave, ZigBee, and others.
Regional Analysis:
During
the forecast period, the Asia Pacific region is expected to emerge as the
fastest growing regional market. Due to the reasons same as the USA, biggest
country-specific markets for IoT sensors are India, China, Japan, and South
Korea, followed by remaining countries of the Asia Pacific region. Europe is
the third largest regional market. In this region, due to technological
advancement, the maximum demand, supply, usage and the presence of key industry
players can be seen in Germany, France, Italy and the United Kingdom (UK)
Major Key players
·
Analog
Devices, Inc. (USA)
·
Broadcom
Limited (USA)
·
Honeywell
International, Inc. (USA)
·
Infineon
Technologies Ag (Germany)
·
Johnson
Controls International PLC. (Ireland)
·
Robert
Bosch GmbH (Germany)
·
Sony
Corporation (Japan)
·
STMicroelectronics
N.V. (Switzerland)
·
TE
Connectivity Ltd. (USA)
·
Texas
Instruments Incorporated (USA)
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List of Tables
TABLE
1 IOT SENSOR MARKET, BY COMPONENT
TABLE
2 IOT SENSOR MARKET, BY TYPE
TABLE
3 IOT SENSOR MARKET, BY NETWORK TECHNOLOGY
TABLE
4 IOT SENSOR MARKET, BY VERTICAL
TABLE
5 IOT SENSOR MARKET, BY REGIONS
TABLE
6 NORTH AMERICA IOT SENSOR MARKET, BY COMPONENT
TABLE
7 NORTH AMERICA IOT SENSOR MARKET, BY TYPE
TABLE
8 NORTH AMERICA IOT SENSOR MARKET, BY NETWORK TECHNOLOGY
TABLE
9 NORTH AMERICA IOT SENSOR MARKET, BY VERTICAL
TABLE
10 U.S. IOT SENSOR MARKET, BY COMPONENT
Continued…………
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