North America IoT Sensor Market | Global Industry Analysis, Segments, Top Key Players, Drivers and Trends to 2027
Growing application of IoT and connected devices is fueling the North America IoT Sensor market. The advent of IoT has enabled each device to be connected over the internet and the rising adoptions 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. Also, between 2018 and 2023, the data traffic is anticipated to grow at a compound annual growth rate of close to 40 percent. 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, thereby driving the IoT Sensor market in North America.
IoT Sensor market in North America is expected to grow from US$ 3,609.9 Mn in 2017 to US$ 21,121.7 Mn by the year 2027. This represents a CAGR of 21.6% from the year 2019 to 2027.
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The mounting adoption of advanced technologies is anticipated to fuel the North America IoT Sensor market growth. The industrial sector is becoming increasingly entangled with Artificial Intelligence, big data as well as other such technologies. It is predicted that in the near future, automation will not only boost productivity but will also provide an advanced smart assistance to humans. The players are significantly investing in the development of industrial robots integrated with artificial intelligence. Further, the Chinese government is expanding its efforts to integrate artificial intelligence technologies into industrial sector. The integration of artificial intelligence will further reduce the intervention of humans, which will be beneficial for countries with inadequate and expensive labor force. These initiative by the market player are enhancing the growth of North America IoT Sensor market.
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APAC AUTOMOTIVE SEMICONDUCTOR - MARKET SEGMENTATION
By Type
- Temperature sensor
- Light Sensor
- Pressure Sensor
- Chemical Sensor
- Motion Sensor
- Others
By Connectivity Type
- Wired
- Wireless
By Application
- Consumer Electronics
- Building Automation
- Healthcare
- Automotive
- Industrial
- Retail
- Others
The List of Companies - North America IoT Sensor Market
- 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.
- Texas Instruments Incorporated
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