Global Iot Sensors Market In 2019- Temperature And Pressure Sensors Captured More Than Half

The advent of Internet of Things(IoT) has enabled each device to be connected over the internet and the rising adoptions would result in more than billions of devices connected over the internet globally. Factors including proliferation of IoT and connected devices and growth in the consumer electronics industry are significantly driving the global IoT sensors market. However, growing security concerns are impeding the IoT sensors market growth. Widening government support for the adoption of IoT is opportunistic for the growth of the IoT sensors market. Moreover, growing emphasis towards cost reduction and availability of cheaper sensors have gained significant traction among various industry verticals. The continuous improvement and development of capabilities through advancement in technology is anticipated to have profound influence over the IoT sensor market. The end users of the market include consumer electronics, building automation providers, healthcare, industrial, retail, and other industries.

The global IoT sensors market accounted to US$ 9.46 Bn in 2018 and is expected to grow at a CAGR of 23.9% during the forecast period 2019 – 2027, to account to US$ 65.79 Bn by 2027.

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The key players influencing the market are:
Analog Devices, Inc.
ARM Holdings PLC
Broadcom, Inc.
Honeywell International, Inc.
Infineon Technologies AG
NXP Semiconductors N.V.
Omron Corporation
Robert Bosch Gmbh
STMicroelectronics N.V.
Texas Instruments Incorporated

The consumer electronics industry is witnessing immense growth. In the current scenario, various consumer electronic devices are used by consumers across the globe for a plethora of tasks. Consumer electronic devices such as smartphones, tablets, PCs, music players, etc. have become integral part of consumers’ lives. The consumer devices are becoming smarter with the ongoing technological advancements. The AI-enabled applications have stoked the demand for cheaper sensors. The market for consumer electronics is growing in the current scenario, owing to the fact that several semiconductor companies are regularly coming up with advanced technologies which is attracting the industry. Furthermore, wearable devices account for one of the fastest-growing segments of the IoT connected device industry. Advanced enterprises consider wearables as exceptional opportunity for mobile technology that can drive greater efficiency, improve workflow and enhance communication.

An IoT needs varied types of sensors to make performance of applications more reliable. As the things are not capable enough to capture states or perform actions unless all device or systems are fitted with the sensors. All activities and connection to a web delivers intelligent and fast experience eliminating assistance from human. Temperature sensor, light sensor, pressure sensor, chemical sensor, motion sensor, etc. are few commonly used sensors among others in IOR sensors industry. As per The Insight Partners analysis pressure sensor led the market in 2018 and is expected to continue its dominance during the forecast period till 2027.

Temperature sensors are the common sensors which measure temperature or heat of a provided medium. The temperature sensors use many ways to control and quantify temperature of an object. Sensors operate in numerous ways, and for instance, some sensors are required to be placed in physical contact with an object whereas some sensors don’t need contact as they efficiently detect gas or liquid which emits radiant energy such as a spike in heat or plummeting temperature. The temperature sensors are used in highly sensitive semiconductors to thermostat devices which effectively controls complex procedures. These are widely used in refrigerators, air-conditioners, and in devices which are used for environmental control as well as in industries such as agriculture, healthcare, and manufacturing processes. In manufacturing industries, the temperature sensor is fitted to monitor a temperature of machines. Moreover, in agriculture, these are used to monitor the temperature of water, soil, , and plants.

Pressure sensors are widely used in IoT systems which monitors devices and systems, driven by pressure signals. In this, at the time when pressure range crosses threshold level, the device sends an alert to the user stating about problems which needs fixing. For instance, BMP180 is one of a popular digital pressure sensor that is used in PDAs, GPS navigation devices, mobile phones, and outdoor equipment. The pressure sensors are used in aircrafts, smart vehicles to determine altitude and force respectively. In addition, tyre pressure monitoring system is deployed to send a notification to the driver about tyre pressure, i.e., whether it is too low or high to ensure hassle free driving experience. A pressure sensor is a device which senses the pressure and converts them into an electric signal. These are extensively used by different industrial end users.

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