This report provides exclusive insights into the COVID-19 impact on the IoT Sensor Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the IoT Sensor Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of IoT Sensor Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on the IoT
sensor market provides an in-depth analysis of segments and sub-segments in the
global as well as regional IoT sensor market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
IoT sensor market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecasts, and dollar values of the global IoT
sensor market. According to the report, the global IoT sensor market is
projected to grow at a CAGR of 25.3% over the forecast period of 2019-2025.
The IoT sensors are one of the most fundamental and
prepared with IoT cloud-based applications. It is connected wirelessly to the
workstation system that is used for identification. The foremost purpose is to
accumulate data and control the surrounding environments through its diverse
sensors, for example, temperature sensors, humidity sensors, and others. The
IoT sensors provide an extensive range of applications in tracking, security,
safety, and detecting in different industries. These sensors are utilized in
industrial and automotive, development of smart cities, mining industry,
electronics, and consumables industry applications.
The IoT sensor market is enormously driven due to the
increasing adoption of IoT across manufacturing, healthcare, automotive, and
several other end-use industries. The
IoT sensor market is experiencing extensive growth owing to the increasing
adaption of the connected devices and growing demand for the electronics
wearable. Furthermore, the advancement of technology leads to an escalation in
the importance of real-time computing application is another factor driving the
IoT sensor market growth during the forecast period. In addition, the growth in
the internet connectivity rate, integration of IoT technology in healthcare,
the development of smart cities are some other factors contributing to enforce
a positive outlook on the market growth. On the other hand, the concerns
related to the security and safety of data is expected to hamper the market growth.
The current novel coronavirus (COVID-19) pandemic that
has been ravaging countless countries across the world has adversely affected
the overall sensor, control, and automation sector. While the capital
investments in the automation segment have been sluggish before the epidemic,
they are projected to be put on hold or deferred for at least a year. Conversely,
the recent standstill in industrial manufacturing and production is predicted
to act as a wake-up call for the manufacturing industry on its dependence on
human labor. This, in turn, is estimated to highlight the advantages of IoT
and automation helping a superior adoption in the post-pandemic period.
Among the geographies, North America region is
expected to hold the largest share in the global IoT sensor market as countries
such as the U.S. and Canada are the front-runners of the adoption of new
technology. Further, factors such as in the United States, IoT consumer
devices, like security cameras and other smart home devices, such as smart
thermostats are progressively being deployed for a variety of reasons, for
example, growing security, and comfort, reducing energy consumption, or
technical assistance in old age. Furthermore, the Asia Pacific region
is expected to witness a high growth rate in the IoT Sensors market over the
forecast period due to significant rise in smart city projects, along with
healthy growth in IoT devices, which is, in turn, anticipated to boost the
demand for IoT sensors in this region.
The report on the global IoT sensor market covers segments such
as type, network technology, and application. On the basis of type, the
sub-markets include image sensors, touch sensors, motion sensors, pressure
sensors, and other sensors. On the basis of network technology, the sub-markets
include wired, and wireless. On the basis of application, the sub-markets
include consumer electronics, automotive, industrial automation, healthcare,
manufacturing and retail, and other applications.
The report provides profiles of the companies in the market
such as Texas Instruments, TE Connectivity, STMicroelectronics, Broadcom Inc.,
NXP Semiconductors N.V., Infineon Technologies AG, Digi International Inc.,
Telefonaktiebolaget LM Ericsson, Robert Bosch GmbH, and Qualcomm Technologies,
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical tools
such as Porter's five forces analysis and DRO analysis of the IoT sensor market.
Moreover, the study highlights current market trends and provides forecast from
2019-2025. We also have highlighted future trends in the market that will
affect the demand during the forecast period. Moreover, the competitive
analysis given in each regional market brings an insight into the market share
of the leading players.