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Growing popularity of smart home solutions is a key factor driving IoT sensors market revenue growth

VANCOUVER, BC, CANADA, November 8, 2022 /EINPresswire.com/ -- The global IoT sensors market size reached USD 15.58 Billion in 2021 and is expected to register a revenue CAGR of 28.3% during the forecast period, according to latest analysis by Emergen Research. Rapid advancement in industrial technologies such as Industry 4.0 and Industrial Internet of Things (IoT) as well as increased implementation of IoT sensors owing to cost-effectiveness and compact design are a few of the key factors driving the market revenue growth. Surging demand for Micro-Electromechanical Systems (MEMS) for better consumer electronics is also contributing to revenue growth of the market.

The report includes a detailed study of the IoT Sensors market size, market trends, prime market players, sales analysis, major driving factors, and prime investment pockets. The global IoT Sensors Market report covers an overview of the market and outlines market definition and scope. The ongoing technological developments and surge in demand have an influential effect on the market growth. Furthermore, the report provides a quantitative and qualitative analysis of the IoT Sensors Market, outlines the pain point analysis, value chain analysis, and key regulations.

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The reports cover key developments in the IoT Sensors market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships and collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from IoT Sensors market are anticipated to lucrative growth opportunities in the future with the rising demand for IoT Sensors in the global market. The market is expected to grow at a significant CAGR during the forecast period.

 IoT Sensors Market: Analysis by focusing on Competitive landscape and Key Developments

General Electric, TE Connectivity, NXP Semiconductors, Texas Instruments Incorporated, STMicroelectronics, OMRON Corporation, Siemens, Infineon Technologies AG, Murata Manufacturing Co, and InvenSense (TDK).

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 key findings from the report suggest

Pressure sensor segment accounted for a significant revenue share in 2021. Cost-effectiveness, higher durability, as well as good resistance to vibration, shock, and dynamic pressure changes are some of the major factors driving revenue growth of the segment. Also, the ability to operate at high temperatures and low response times is driving the demand for pressure sensors for various applications such as fluid mechanics, aerodynamics, thermodynamics, soil mechanics, and biophysics. Additionally, integration with an IoT system, allow pressure sensors such as piezo sensors to detect real-time pressure fluctuations which are driving demand for pressure sensors, specifically in the industrial sector.

Wireless segment accounted for the largest revenue share in 2021. Ease of collection of information about the surrounding environment over a prolonged period with reduced manual effort is one of the major factors driving revenue growth of the segment. Moreover, the wireless segment offers efficient measurement of a variety of variables from air temperature and vibration. Utilization of wireless sensors enable organizations to monitor premises, as well as identify and track any suspicious activity.

Industrial IoT segment accounted for a significant revenue share in 2021. Rising smart city development initiatives in various countries with increasing integration of smart electronic devices in the home are a few of the factors driving revenue growth of the segment. Automated IoT-connected wireless systems enable easy monitoring of health issues. Furthermore, the rising need for efficient and effective health monitoring systems and telemedicine is driving the industrial IoT segment forward. The need for a reliable transportation system is essential for infrastructure development, which is driving the demand for automated transportation.

The report further divides the IoT Sensors market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the IoT Sensors market.

Emergen Research has segmented global IoT sensors market on the basis of sensor type, network technology type, vertical, and region:

Sensor Type Outlook (Revenue, USD Billion; 2019-2030)

Pressure sensor

Temperature sensor

Flow sensor

Humidity sensor

Magnetometer

Accelerometer

Inertial sensor

Gyroscope

Touch sensor

Image sensor

Acoustic sensor

Proximity sensor

Occupancy sensor

Others

Network Technology Type Outlook (Revenue, USD Billion; 2019-2030)

Wired

Lonworks

KNX

Ethernet

Modbus

Digital Addressable Lighting Interface (DALI)

Wireless

Wifi

Zigbee

Bluetooth

Z-wave

NFC

ENOCEAN

RFID

GPS

Others

A thorough analysis of every segment helps to make strategic decisions and make profitable investments in the future. Furthermore, it helps market players to gain a competitive edge. The IoT Sensors Market analysis of segment and sub-segment is offered in graphical and tabular formats. This study is vital to understanding the highest revenue-generating and fasting-growing segments of the market. The global IoT Sensors Market report offers a thorough study of the major market players that are currently dominating the industry. The report includes the production, sales, and revenue analysis of these companies. These companies have adopted various business strategies such as new product launches, mergers & acquisitions, partnerships, and collaborations to maintain market position.

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How will this Report Benefit you?

A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global IoT Sensors market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for IoT Sensors with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.

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