DALLAS, TX / ACCESSWIRE / November 23, 2020 / According to a market report by Lucintel, the future of the IoT sensor market looks promising with opportunities in the home automation, retail, aerospace and defense, industrial, and healthcare industries. The market is expected to grow with a CAGR of 42% from 2019 to 2024. The major drivers for this market are development of intelligence and low cost sensors, growing demand for smart and wearables devices, need for real-time computing in IoT applications, and increasing internet penetration in emerging nations.
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In this market, temperature sensor, pressure sensor, humidity sensor, flow sensor, accelerometer, magnetometer, gyroscope, inertial sensor, image sensor, touch sensor, proximity sensor, acoustic sensor, motion sensor, occupancy sensor, CO2 sensor, light sensor, and radar sensor are the major sensor types. Gyroscope is the largest segment in the IoT sensor market due to rising adoption of IoT across small and medium businesses and increasing number of connected devices and predictive maintenance.
Within the IoT sensor market, consumer device, consumer appliances, smart city, wearable electronics, retail, aerospace and defense, industrial, and helathcare are the major end use industries. Wired network technology (KNX, LonWorks, ethernet, modbus, DALI), and wireless network technology (Wi-Fi, bluetooth, zigbee, Z-wave, NFC, RFID, EnOcean, thread, 6LowPAN, WHART, PROFIBUS, DECT-ULE) are the major network technology types of the IoT sensor market.
Asia Pacific will remain the largest region over the forecast period due to rising adoption of IoT across small and medium businesses and increasing internet penetration in emerging nations.
Texas Instrument, TE Connectivity, Cypress, NXP Semiconductors, STMicroelectronics, Infineon Technologies, Robert Bosch, Honeywell International, and Analog Devices are among the major manufacturers of IoT sensors.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the IoT sensor market by sensor type, technology, application, and region. Lucintel has prepared a comprehensive research report entitled "Growth Opportunities in the IoT Sensor Market 2019-2024: Trends, Forecast, and Opportunity Analysis." This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the IoT sensor market by end use industry, sensor type, network connectivityand region as follows:
By Sensor Type [$M shipment analysis for 2013 - 2024]:
- Temperature sensor
- Pressure sensor
- Humidity sensor
- Flow sensor
- Accelerometer
- Magnetometer
- Gyroscope
- Inertial sensor
- Image sensor
- Touch sensor
- Proximity sensor
- Acoustic sensor
- Motion sensor
- Occupancy sensor
- CO2 sensor
By End Use Industry [$M shipment analysis for 2013 - 2024]:
- Consumer
- Home Automation
- Consumer Devices
- Consumer Appliances
- Smart City
- Wearable Electronics
- Home Automation
- Retail
- Aerospace and Defence
- Transportation
- Healthcare
- Agriculture
By Network Connectivity [$M shipment analysis for 2019 - 2024]:
- Wired
- KNX
- Lonworks
- Ethernet
- Modbus
- Digital Addressable Lighting Interface (DALI)
- Wireless
- Bluetooth
- Zigbee
- Z-Wave
- Enocean
- Others
By Region [$M shipment analysis for 2013 - 2024]:
- North America
- United States
- Canada
- Mexico
- Europe
- UK
- Germany
- Italy
- Asia Pacific
- China
- Japan
- India
- Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. 972.636.5056
Cell: 303.775.0751
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SOURCE: Lucintel