The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The IoT sensors market has experienced unprecedented growth in recent years, with a notable surge from $9.6 billion in 2023 to $12.37 billion in 2024, showcasing a compelling compound annual growth rate (CAGR) of 28.8%. This momentum is driven by several key factors in the historic period, including connectivity advancements, data analytics, cost reduction strategies, and the expanding realms of smart cities and industrial IoT (IIoT).

Future Projections: Anticipating Exponential Expansion

Looking ahead, the IoT sensors market is poised for continued success, projected to reach an impressive $27.38 billion in 2028, with a CAGR of 22.0%. The forecasted growth is attributed to the integration of 5G connectivity, advancements in edge computing, the infusion of AI and machine learning, heightened focus on security and privacy, and the exploration of energy harvesting. Noteworthy trends in the forecast period include miniaturization, multi-sensor integration, the evolution of IoT sensor ecosystems, a heightened focus on environmental and sustainability monitoring, and the increasing role of IoT sensors in healthcare and wearables.

Rapid Growth in Global IoT Connections Drives Expansion in the IoT Sensors Market

1. IoT Device Boom: The increasing utilization of IoT devices is a primary driver for the flourishing IoT sensors market. These devices, encompassing a variety of non-standard computing hardware, establish wireless connections, facilitating data transmission over networks.
2. Global IoT Connections Surge: In May 2023, IoT Analytics GmbH reported an 18% increase in global IoT connections in 2022, reaching a staggering 14.3 billion active IoT devices. This surge emphasizes the integral role of IoT sensors in capturing data through the detection of environmental changes.
3. Companies Paving the Way: Major players in the IoT sensors market include Texas Instruments, TE Connectivity, NXP Semiconductors, and a host of others. Their contributions span diverse industries, from healthcare to industrial applications, reflecting the widespread impact of IoT sensors.

Read The Full IOT Sensors Market Report Here:

https://www.thebusinessresearchcompany.com/report/iot-sensors-global-market-report

AI Integration Revolutionizes IoT Sensors Market By Unlocking Data’s Full Potential

1. Key Trend: Artificial Intelligence: AI emerges as a critical trend, playing a pivotal role in processing the vast amounts of data generated by IoT sensors. It unlocks the full potential of data, aiding in areas like data accuracy in time series, predictive analytics, data preparation, and real-time geospatial and location analysis.
2. Practical Application: In December 2021, Zyter, Inc. launched Zyter Smart Agriculture, utilizing IoT sensors and AI to provide farmers with a comprehensive view of their ecosystem. This innovation optimizes crop management methods and promotes sustainable precision agriculture.

Taoglas Expands IoT Services with Acquisition of Smartsensor Technologies

1. Strategic Acquisition: In July 2021, Taoglas, a prominent Ireland-based provider of advanced antennas and IoT solutions, acquired Smartsensor Technologies, an Australian IoT company. This strategic move enhances Taoglas’ capabilities in industrial and enterprise-level IoT services, aligning with their connected smart services growth objectives.
2. Diverse Market Segmentation:
   • Product Types: Temperature sensors, Pressure sensors, Humidity sensors, Flow sensors, Accelerometers, and more.
   • Applications: Building Automation, Industrial, Automotive, Healthcare, Retailing & Logistics, Security, Agriculture, and other diverse applications.
   • End-user Industries: From healthcare to automotive, manufacturing, and beyond, IoT sensors find applications across various industries.

Asia-Pacific Dominance in 2023

In 2023, Asia-Pacific emerged as the largest region in the IoT sensors market, reflecting the region’s robust adoption of IoT technologies. This dominance underlines the global nature of the IoT sensors market, with Asia-Pacific playing a pivotal role in shaping its trajectory.

Get A Free Sample On The Global IOT Sensors Market Report:
https://www.thebusinessresearchcompany.com/sample_request?id=2526&type=smp

The IOT Sensors Global Market Report 2024  provides an overview of the IOT sensors market 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 and their market positions.

Explore Similar Reports From The Business Research Company:

IoT Services Global Market Report 2024

IoT In Manufacturing Global Market Report 2024

Internet Search Portals Global Market Report 2024

Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: