Future of IoT Sensors Market in Hands of Europe and North America

Published By : 13 Apr 2016 | Published By : QYRESEARCH

The Internet of Things refers to a network utilized via sensors, electronics, network connectivity, and software, permitting physical objects to gather and exchange information. Sensors play a rather vital role in the Internet of Things in measuring several different physical features of objects. Sensors in IoT devices have the ability to register changes in pressure, temperature, sound, motion, and light. In the real world, there are a number of objects that communicate with one and another with the help of embedded IoT tags, sensors, and actuators. 

Growing Demand for Smart Devices Driving IoT Sensors Market 

The global market for IoT sensors is estimated to expand at an exceptional growth rate in the coming years. Factors such as the growing demand for consumer electronics, the rising demand for IoT sensors in the automotive sector, and the surging demand for smart devices are anticipated to support the global market for IoT sensors in the near future. Hardware manufacturing companies have been focusing on developing innovative technologies that will allow IoT sensors to become less obtrusive. The IDTechEx Show in Berlin this month will house the latest innovations in the field of the Internet of Things, IoT sensors, and other products. 

Europe and North America Dominate Global IoT Sensors Market 

The global market for Internet of Things sensors is geographically divided into Asia Pacific, North America, Europe, and Rest of the World. In 2014, North America and Europe together held a share of 60 per cent share in the global IoT sensors market. These two regions are projected to retain their lead through 2023, driven mainly by the growing demand for IoT sensors from the consumer goods and health care industries. 

Surging Demand for Temperature IoT Sensors 

IoT sensors, on the basis of type, are segmented into gyroscopes, pressure sensors, temperature sensors, accelerometers, magnetometers, light sensors, and others. Temperature sensors held the largest share in 2014 owing to their rising adoption in wearable devices for fitness programs, devices for smart homes, and health monitoring devices. 

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