Sensors market in Internet of Things (IoT) connected devices is showing a dynamic growth rate in the forecast period. The main reasons or factors that drive the magnificent growth in this market are: price, capability and size. As the price of sensors is showing a constant decline, their demand has been extensively increasing in all the major verticals including healthcare, transportation, retail and manufacturing among others. Over the years, well known market players are showing their interest in sensors market in Internet of Things (IoT) connected devices. Players like Google, IBM, Samsung, HTC, Qualcomm, and Bosch among others are investing a large extent in Internet of Things (IoT) sensors market in order to innovate their products as well as to capture the major market share. However, even with such enormous growth, Internet of Things (IoT) sensor market is facing a lot of challenges which are as follows: trust & privacy issues, resorting to lower standards due to cut throat competition and security concerns among others.
The U.S. generated the maximum amount of revenue in the year 2015 in the global IoT sensors industry as compared to other countries, whereas India is expected to have the maximum potential to grow in the forecast period. The U.S has always been on the forefront of the world map when it comes to technological advancement. While profiling major companies it has been found out that most of the renowned companies are US based, giving significant impetus to the growth of this market in the US as well as the whole of North America.
The report is a compilation of different segments of global IoT sensors market including a market breakdown by types, application and different geographical locations. The revenue generated from IoT sensors in the market has been tracked to calculate the market size. Under this component, its application areas contributing in shaping the overall market have also been explained. The report also discusses in detail about the key participants involved in the industry.