Real-time computing applications fuel the IoT sensors market

February 16, 2018 Khusro Khan, Xpodence Research

Sensors are the troops of the IoT, the on-the-ground items of hardware doing the vital work of observance processes, taking measurements and collecting information. The decreasing cost of those small devices helps keep IoT prices low and facilitate myriad use cases. As IoT rises to dominance, sensors take on more challenging roles, making sense of data at the edge before sending it to the cloud for additional aggregation and trend analysis.

According to a recent market report, the major factors driving the growth of the IoT sensors market are advancements of smaller, smarter and cheaper sensors, rising market for smart devices and wearables, and necessity for real-time computing of applications. Sensor fusion will also play a major role in the market, growing demand for IoT sensors in various applications. Deployment of Ipv6 and government initiatives support this market as well. Lack of standardization, lack of technologically, lack of skilled labor, and concerns regarding security and privacy are the key aspects that may hamper the market growth in the near future. Rising adoption of IoT across small and medium businesses, the growing number of connected devices, potential applications related to connected living, and predictive maintenance are the few key growth opportunity factors.

The IoT sensors market can be segmented based on type, such as temperature sensor, pressure sensor humidity sensor, accelerometer, flow sensor, gyroscope, magnetometer, inertial sensor, touch sensor, image sensor, proximity sensor, motion sensor, acoustic sensor, occupancy sensor, CO2 sensor, and other sensors. Based on components, the market can be categorized into hardware and software. Technologically, the market has been segregated into wireless network technology and wired network technology. Based on vertical, the IoT sensors market is categorized into consumer IoT, industrial IoT, and commercial IoT. Geographically, the IoT sensors market is split into five regions: North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

The rising necessity for real-time computing of applications is anticipated to drive the Asia Pacific market for IoT sensors in the future years. The major companies that are involved in IoT Sensors are Konux Inc., Omron Corporation, Sensirion AG, Smartthings, Inc., Arm Holdings PLC, Analog Devices, Inc., NXP Semiconductors N.V., Robert Bosch GmbH, Broadcom Limited, Invensense, Inc., Infineon Technologies AG, Te Connectivity Ltd., Texas Instruments Incorporated and STMicroelectronics N.V.

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