A substantial increase in the adoption of IoT sensors in diverse industries will drive the market in near future
The Internet of Things (IoT) describes a network of physical objects ("things") embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the Internet.
The advent of IoT has enabled each device to be connected over the internet and the rising adoptions globally would result in more than billions of devices connected over the internet. Also, validating to the above mentioned point is the fact that the data traffic rate on a global level, has grown at an annual rate of more than 65% over the last five years.
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This exponential growth in data traffic over the internet is out rightly attributed to the growing penetration of smartphones and other consumer electronic devices that can be connected over the internet as a result of the growing popularity of IoT. It is estimated that each individual will have close to a dozen number of devices that would be connected over the internet by 2020.
The IoT sensors market operates in an extremely fragmented industry with huge number of smaller players capturing major market chunk. Key players operating in the market are offering attractive services and solution so as to gain customer traction. The major companies offering IoT sensors to different industries include Analog Devices, Inc., ARM Holdings PLC, Broadcom, Inc., Honeywell International, Inc., Infineon Technologies AG, NXP Semiconductors N.V., Omron Corporation, Robert Bosch Gmbh, STMicroelectronics N.V., and Texas Instruments Incorporated among others. Several other companies are also offering these products to different industries which is facilitating the IoT sensors market to propel over the years.
Top 10 IoT Sensor Types:
1. Temperature Sensors
2. Humidity Sensors
3. Pressure Sensors
4. Proximity Sensors
5. Level Sensors
6. Accelerometers
7. Gyroscope
8. Gas Sensors
9. Infrared Sensors
10. Optical Sensors
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