IoT Sensors Market Growth Is Expected To Grow At An Impressive Rate Till 2027 Due To Rising Demand Of Wearable Devices | TechSci Research

According To TechSci Research, Global IoT sensors market is expected to grow at an impressive rate during the forecast period. The global IoT sensors market is driven by the growing applications of IoT across various end user industries especially the healthcare industry. Additionally, growing demand for wearable devices is further expected to foster the market growth. Besides, benefits such as compact size, affordable prices, ease of use, among others associated with the IoT sensors is expected to drastically increase their demand over the next few years. However, data privacy and security concerns can slow down the market growth during the forecast period.

The global IoT sensors market is segmented based on sensor type, network type, application, company, and region. Based on sensor type, the market can be categorized into temperature sensors, pressure sensors, humidity sensors, flow sensors, accelerometers, magnetometers, gyroscopes, inertial sensors, image sensors, touch sensors, proximity sensors, acoustic sensors, motion sensors, occupancy sensors, CO2 sensors and others. The gyroscopes segment is expected to dominate the market during the forecast period. this can be ascribed to the growing adoption of automation across various end user industries. Additionally, growing demand for remotely operated vehicle guidance further drives the segmental growth. Based on network type, the market can be bifurcated into wired and wireless. The wireless segment is expected to dominate the market on account of their low installation and maintenance costs. Besides, growing adoption of cloud and increasing amount of data being generated from various wireless sources such as smart grids, connected devices, mobile phones, among others is expected to positively influence the segmental growth.

Regionally, the IoT sensors market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, North America is expected to dominate the overall IoT sensors market owing to the widespread adoption of wireless sensors and networks across various end user industries such as healthcare, consumer electronics, automotive, oil & gas, among others. While, Asia Pacific is expected to register the highest growth in the market attributable to the improving IT infrastructure and expansion of major market players in the region especially in countries like India and China.

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The major players operating in the IoT sensors market are Texas Instruments, TE Connectivity, STMicroelectronics, Broadcom, NXP Semiconductors, Invensense, Inc, Analog Devices, Inc., Omron Corporation, Siemens AG, Murata Manufacturing, and others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

Objective of the Study:

  1. To analyze and estimate the market size of global IoT sensors market from 2017 to 2020.
  2. To estimate and forecast the market size of global IoT sensors market from 2021 to 2027 and growth rate until 2027.
  3. To classify and forecast global IoT sensors market based on sensor type, network type, application, company, and regional distribution.
  4. To identify dominant region or segment in the global IoT sensors market.
  5. To identify drivers and challenges for global IoT sensors market.
  6. To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global IoT sensors market.
  7. To identify and analyze the profile of leading players operating in global IoT sensors market.
  8. To identify key sustainable strategies adopted by market players in global IoT sensors market.


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the globe.

TechSci Research calculated the market size of global IoT sensors market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research. 

Key Target Audience:

  1. IoT sensors provider companies
  2. Market research and consulting firms
  3. Government bodies such as regulating authorities and policy makers
  4. Organizations, forums and alliances related to IoT sensors

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

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