IoT Sensors Market to Grow at a CAGR of 23.9% Through 2027 - Top Companies Analog Devices, ARM Holdings, Broadcom, Honeywell International, Infineon Technologies AG, NXP Semiconductors N.V., Omron and Robert Bosch Gmbh

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.

North America was the leading IoT sensors market in 2018 and Asia-Pacific is anticipated to witness the fastest growth throughout the forecast period. Across North America, the technological advancements has led to a highly competitive markets. North America is a hub of technological developments that comprises with economically robust countries. The companies are continuously enhancing the overall business processes in order to meet the customers demand for high quality products and services in the best possible way.

Top Dominating Key Players:

1. Analog Devices, Inc.
2. ARM Holdings PLC
3. Broadcom, Inc.
4. Honeywell International, Inc.
5. Infineon Technologies AG
6. NXP Semiconductors N.V.
7. Omron Corporation
8. Robert Bosch Gmbh
9. STMicroelectronics N.V.
10. Texas Instruments Incorporated

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Rise in consumer electronics industry

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 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 accounts for one of the fastest-growing segments of the IoT connected device industry.

Advent of connected cars

Connected cars enable the travelers or the car itself to automatically share the data within the vehicle and also outside the vehicle. Internet of things (IoT) is one of those technologies which has been breaking grounds to offer automotive manufacturers a new set of products and services which are entirely a new layer to the traditional car perceptions. These new configurations may include sensors, controllers, lighting and software applications, these products and services are offered as stand-alone, where, the customer can plug and play as per the requirement or some of the features are built-in in the new generation cars.

Strategic Insights

2019: OMRON Corporation globally launched a total of 2,512 models of its DC 3-Wire E2E NEXT Series Proximity Sensors, which boast the world's longest sensing distances (*1) and are now newly equipped with IoT features. These sensors reduce risks of sudden facility stoppages by a factor of 3 (*2); they also detect signs that warn of such stoppages and notify users via the network.

2018: Arm Holdings unveiled chip aimed at self-driving car sensors. Arm's newest chip design is called the Cortex-A65AE, and is designed around the idea of being able to handle the stream of data from a self-driving car's sensors in near real-time. The chip released has the new safety features, as well as features designed to help it process and pass along data from sensors quickly. It also has pathway for speedy connection to graphics processors such as those supplied by Nvidia Corp, which are being adopted by car makers and which Arm's chips would serve as a complement to.

2017: NXP added new NFC chips and sensors to secure the Internet of Things. NXP unveiled two NTAG SmartSensors for temperature monitoring and cold chain logistics and an Arduino-compatible NTAG I²C Plus kit that allows developers to emulate using an NTAG I²C Plus connected tag chip in an embedded electronic system.

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Global IoT Sensors Market Segmentation:

By Type

• Temperature sensor
• Light Sensor
• Pressure Sensor
• Chemical Sensor
• Motion Sensor
• Others

By Connectivity Type

• Wired
• Wireless

By Application

• Consumer Electronics
• Building Automation
• Healthcare
• Automotive
• Industrial
• Retail
• Others

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