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Global IoT Sensors Market Size Is 11996.7 Million In 2018
Saturday, 09 May, 2020
An IoT sensor is a device that takes input from the physical environment and uses built-in compute resources to perform predefined functions upon detection of specific input and then process data before passing it on. IoT platforms function and deliver valorous kind of intelligence and data using a variety of sensors. They serve to collect data, pushing it and sharing it with a whole network of connected devices. All this collected data makes it possible for devices to autonomously function. By combining a set of sensors and a communication network, devices share information with one another and are improving their effectiveness and functionality.

The global IOT Sensors market size will reach US$ 39830.6 million by 2024, from US$ 11996.7 million in 2018. In terms of the volume, the global IOT Sensors consumption was 11163.7 million units in 2018 and will reach 94226.9 million units in 2024. 

Geographically, North America is the largest consumption country of IoT Sensors, with a revenue market share nearly 35.15% in 2018. The second region is Europe, following North America with the market share of 34.41% in 2018. APAC is the fastest-growing region, especially China, which plays a more important role in the world. 

Currently, there are plenty of producing companies in the world. The global key IOT Sensors manufacturers include Bosch, Honeywell, NXP, Infineon, Analog Devices, Panasonic, InvenSense, TI, Silicon?Laboratories, ABB, STM, TE Connectivity, Huagong Tech, Sensirion, Zhonghang Electronic Measuring Instruments, Vishay, Hanwei Electronics, Semtech, Omron and so on.

IoT Sensors used in Smart Home & Wearables, Smart Energy, Smart Security, Manufacturing, Transportation & Logistics and Healthcare. Report data showed that 30.04% of the IoT Sensors market demand in Manufacturing in 2018. 

There are mainly five IoT sensors, which are Pressure Sensor, Environmental Sensor, Optical Sensor, Chemical Sensor and Motion Sensor. Pressure Sensor Type is important in the IoT Sensors, with a consumption market share nearly 32% in 2018.

Despite the presence of competition problems, due to the global recovery trend is slightly and positive attitude of the government, investor are still very optimistic about this area; the future will still have more new investment enter the field.