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The application of IoT in automotive and transport sectors are expected to drive innovation in IOT sensors manufacturing, thus driving the market during the forecast period.

The global IOT sensors market is expected to grow from $6.2 billion in 2022 to $6.64 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The global IoT sensors market is expected to grow to $8.67 billion in 2027 at a compound annual growth rate (CAGR) of 6.9%.

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Global IOT Sensors Market Segments Include:

• By Product Type: Temperature sensors, Pressure sensors, Humidity sensors, Flow sensors, Accelerometers, Magnetometers, Gyroscopes, Inertial sensors, Image sensors, Other Product Types
• By Application: Building Automation, Industrial Application, Automotive Application, Healthcare Application, Retailing & Logistics Application, Security Application, Agriculture Application, Other Applications
• By End-user Industry: Healthcare, Automotive and Transportation, Manufacturing / Industrial, Other End-Users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global IOT sensors market in 2021.

Major Market Players in the IOT sensors market include Texas Instruments, TE Connectivity, NXP Semiconductors, STMicroelectronics, TDK Corporation, Infineon Technologies, Omron, Honeywell, Sensata Technologies.

The artificial intelligence is a key trend in the IoT sensors market. Artificial intelligence is the basic ingredient required to process the huge amount of data gathered these days, and to maximize its value for the company. AI will assist IoT data analysis in the following areas, such as data accuracy in time series, predictive and advanced analytics, data preparation, geospatial and location real-time (logistic data). In 2020, based on their AI capabilities, the major cloud vendors, including Amazon, Microsoft and Google, are increasingly looking to succeed. Various companies hope to expand their market share with AI algorithms capable of exploiting machine learning and deep learning, allowing businesses to derive more value from their ever-increasing data volumes.

The IOT Sensors Global Market Report 2023  provides a IOT sensors market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The IOT sensors market forecast analyzes IOT sensors market size, IOT sensors market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The internet of things, or IoT, is a collection of interconnected smart devices, mechanical and digital machines, objects, animals, or people supplied with unique identifiers (UIDs) and the ability to transmit data across a network without needing human-to-human or human-to-computer interaction. IoT sensors are used in healthcare, automotive, transportation, manufacturing, and other industrial sectors.

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