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The global IoT sensor market size reached approximately USD 14.84 billion in 2023. The market is projected to grow at a CAGR of 25.3% between 2024 and 2032, reaching a value of around USD 113.01 billion by 2032.
IoT sensors are devices that help detect external information and replace it with signals that can be understood and distinguished by humans and machines. Sensors can measure physical phenomena such as pressure or temperature and transform them into electric signals. These are used in a variety of devices such as thermometers, pressure sensors, motion sensors, and gas sensors, among others.
The rapid digitalisation and the rising demand for IoT sensors across industrial sectors, owing to their multifaceted application potential, are projected to augment the global IoT sensor market growth in the forecast period. For instance, the use of IoT sensors in industrial machinery and connected automobiles is witnessing a surge. In addition, IoT sensors also find increased usage in home security and smart devices such as wireless security networks and smart speakers.
Moreover, the increased demand for wearable devices that help monitor physical health, such as heart rate, oxygen levels, and calorie consumption, among others, fuelled by rising disposable incomes and growing health consciousness, is anticipated to aid the market growth in the forecast period. Furthermore, rapid technological advancements are also predicted to positively impact the IoT sensor market development in the coming years.
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Smart cities and infrastructure; advancements in sensor technology; and increased focus on security and privacy are the major trends impacting the IoT sensor market expansion
January, 2024
MeitY Secretary S. Krishnan inaugurated a Centre of Excellence (CoE) focused on Intelligent Internet of Things (IIoT) Sensors, for the development of sensors, in Kerala, India.
November, 2023
Sensry, based in Germany, and LEGIC Identsystems, based in Switzerland, have partnered to develop the NextGenXDK multi-sensor device which enables the quick deployment of a variety of IoT applications.
November, 2023
Worldsensing introduced its latest wireless sensor, the Vibration Meter, which employs a tri-axial accelerometer for vibration measurement and offers an extended battery life and broader communication range.
July, 2023
Weathernews and OMRON collaborated to create a cutting-edge weather IoT sensor called "Soratena Pro," designed to monitor heavy rainfall and strong winds on a minute-by-minute basis.
Smart Cities and infrastructure
The smart city sensors facilitate a wide range of functions, from traffic management to environmental monitoring, improving urban efficiency and sustainability.
Advancements in sensor technology
Innovations like miniaturisation and better power management technologies are making sensors more deployable in various environments.
Increased focus on security and privacy
There is a growing focus on developing secure sensors and networks to protect sensitive data from cyber threats.
Integration with AI and machine learning (MI)
IoT sensors are increasingly being integrated with AI technologies to analyse the massive amounts of data they collect.
Smart city sensors play a crucial role in transforming urban environments into more efficient, sustainable, and livable spaces. For instance, sensors embedded in roads, traffic lights, and on vehicles collect data on traffic density, speed, and flow patterns. This information is used to optimise traffic light timing and routing to reduce congestion and improve traffic flow.
Key players in the IoT sensor market are launching state-of-the-art IoT sensors for several end-use sectors. Weathernews, a leading weather forecasting company, and OMRON, a renowned technology firm, joined forces in July 2023 to develop a state-of-the-art weather IoT sensor named "Soratena Pro" which is expected to enhance the accuracy and timeliness of weather data.
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“IoT Sensor Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Application
Market Breakup by Region
Temperature sensors account for a major IoT sensor market share due to their growing usage in a wide array of end-use sectors
Temperature sensors are crucial in a vast array of industries, including manufacturing, automotive, healthcare, and consumer electronics. They are used for process control, environmental monitoring, and safety measures across these sectors. Their wide range of applications from simple home uses in smart thermostats to complex industrial processes makes them incredibly versatile and in high demand. Temperature sensors are fundamental in smart home systems, particularly in HVAC systems, which contribute to energy efficiency and comfort.
Pressure sensors are critical in industrial sectors such as automotive, aerospace, oil and gas, and water management as they are used to monitor and control fluid/gas pressure, which is essential for operational safety and efficiency.
The automotive sector maintains its dominance in the market as sensors are increasingly used for enhancing vehicle performance and regulating its safety
Based on application, the automotive segment is anticipated to possess a considerable market share in the IoT sensor market. This can be attributed to the rising consumer demand for automobiles and the growing technological advancements. In addition, the increased demand for connected vehicle solutions to provide improved connectivity with compatible smart devices for in-vehicle infotainment is also anticipated to aid the segment's growth.
Moreover, the growing demand for improved safety mechanisms is also leading to the increased adoption of IoT sensor-based systems. For instance, advanced driver assistance systems (ADAS) offer ease of parking and notify the driver of any oncoming obstacles, especially in blind spots. These factors are predicted to aid market growth in the forecast period.
The industrial sector is anticipated to gain sizeable growth in the IoT sensors market as it makes extensive use of IoT sensors for a variety of applications including machine monitoring, predictive maintenance, and process optimisation.
The market players are increasing their collaboration and research and development activities to gain a competitive edge in the IoT sensor market
ABB Ltd is a global leader in electrical engineering, primarily known for its robotics, power, heavy electrical equipment, and automation technology areas.
Texas Instruments Incorporated, designs and fabricates analogue ICs and embedded processors, which are integral to electronic devices in use today.
TE Connectivity is a technology company that designs and manufactures connectivity and sensor products for harsh environments.
Schneider Electric SE is a multinational company that specialises in electrical power products, systems, and solutions.
Market players like Omron Corporation, among other are focused on expanding their presence across various end-use sectors to enhance their overall market share.
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North America is projected to possess a healthy share of the IoT sensor sector in the forecast period. This growth can be attributed to the presence of the leading market players in the region. The increased adoption of IoT sensors across industrial sectors in the region is also projected to contribute to market growth. Furthermore, increased adoption of wearable devices by consumers, such as smartwatches, is anticipated to add to the market growth in the forecast period.
The demand for IoT sensor market in the Asia Pacific region is also experiencing robust growth. Many countries in Asia, such as China, India, and South Korea, are aggressively investing in smart city projects and these projects require a vast array of IoT sensors for traffic management, waste management, energy conservation, and public safety.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global IoT Sensor Market Analysis
8.1 Key Industry Highlights
8.2 Global IoT Sensor Historical Market (2018-2023)
8.3 Global IoT Sensor Market Forecast (2024-2032)
8.4 Global IoT Sensor Market by Type
8.4.1 Temperature
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Flow
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Pressure
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global IoT Sensor Market by Application
8.5.1 Industrial
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Automotive
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Building Automation
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Healthcare
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Security
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Retail and Logistics
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Agriculture
8.5.7.1 Historical Trend (2018-2023)
8.5.7.2 Forecast Trend (2024-2032)
8.5.8 Others
8.6 Global IoT Sensor Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America IoT Sensor Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe IoT Sensor Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific IoT Sensor Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America IoT Sensor Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa IoT Sensor Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 ABB Ltd
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Texas Instruments Incorporated
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 TE Connectivity
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Schneider Electric SE
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Omron Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global IoT Sensor Market: Key Industry Highlights, 2018 and 2032
2. Global IoT Sensor Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global IoT Sensor Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global IoT Sensor Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global IoT Sensor Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global IoT Sensor Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global IoT Sensor Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America IoT Sensor Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America IoT Sensor Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe IoT Sensor Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe IoT Sensor Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific IoT Sensor Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific IoT Sensor Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America IoT Sensor Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America IoT Sensor Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa IoT Sensor Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa IoT Sensor Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global IoT Sensor Market Structure
In 2023, the global IoT sensor market attained a value of nearly USD 14.84 billion.
The market is projected to grow at a CAGR of 25.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 113.01 billion by 2032.
The major drivers of the industry, such as the increased demand for IoT sensors across industry verticals, rising demand in the automotive sector, rising disposable incomes, improved living standards, and rising investments by the leading market players in the research and development of sensor technology, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the rapid digitalisation and the heightened demand for wearable and smart devices.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant product types include temperature, flow, pressure, and other IoT sensors.
The significant applications of the product include industrial, automotive, building automation, healthcare, security, retail and logistics, agriculture, and others.
The major players in the market are ABB Ltd, Texas Instruments Incorporated, TE Connectivity, Schneider Electric SE, and Omron Corporation, and others.
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