IoT Sensors Market Share Trends Analysis & Global Industry Forecast Report, 2021-2028

IoT Sensors Market Share Trends Analysis & Global Industry Forecast Report, 2021-2028

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Global IoT Sensors Market
According to the GMI Research, the IoT Sensors Market will accelerate over the forecast period. The evolution of progressive technology in automotive sector and the surging usage in agriculture, automotive, and healthcare industry are the foremost drivers impelling the market growth.

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IoT Sensors Market Dynamics
The accelerating internet penetration and intensified investment by the major players because of the increasing choice for smart technology-based devices are the prominent drivers responsible for the growth of the global IoT Sensors market.  For instance, the We Forum Organization stated that IoT investments in 2020 reached USD 832 billion because of the rising consumer expenditure on IoT solutions, which touched nearly USD 236 billion. Thus, this surge in the investment propelled the
IoT Sensors Market Share.

Further, the global iot sensors market forecast projects that the surging innovations in IoT devices to strengthen the industrial processes across various industry verticals which include aerospace, automotive,  consumer electronics and semiconductors, will further stimulate the market growth. For instance, Realme, in 2020, introduced various IoT devices, such as audio devices, wearables, smartwatches, and TVs. Also, Airtel, in 2021, initiated an incorporated 5G platform Airtel IoT to connect and control various devices across the industry. Moreover, the increasing endorsement of ioT connected devices further stimulates he market growth. However, excessive security required to restrain the data breaches may curb the market growth. With an augmentation in the IoT-enabled systems various issues related to the privacy and safety came up.  All the endpoints, sensor, smartphone and gateway, have emerged as a target for the hackers which would hinder the IoT Sensors Market Size.

Component Segment Drivers
The software is likely to dominate the market during the forecast period. The innovation of new software for connected devices by the major players. For example, Xiaomi, in 2020, introduced a novel IoT software platform NuttX OS “Xiaomi Vela.”

IoT Sensors Market Segmentation:
Segmentation by Type
·         Chemical

·         Pressure

·         Motion/Proximity

·         Temperature

·         Motion & Occupancy

·         Others

Segmentation by Component
·         Hardware

·         Software

Segmentation by End-User
·         Automotive & Transportation

·         Healthcare

·         Manufacturing/Industrial

·         Others

Segmentation by Region:
·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         North America

o   United States of America

o   Canada

·         RoW

o   UAE

o   Brazil

o   South Africa

o   Saudi Arabia

About GMI Research

GMI Research renowned market intelligence and consulting organisation is committed to support clients in handling the strategic business problems. Our market perceptions and acumen facilitate our clients with information not recognised by them.  

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Contact Person: Sarah Nash
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For more info:

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