IoT Sensor Manufacturers 2022: Market Trends News, Analysis & More

The IoT sensor market has several driving factors like the growing use of sensors in the automotive and transportation industries, demand for smart electronic devices like TVs and wearables, and many more. Moreover, the use of IoT applications in monitoring temperature, sound, pressure, light, and motion are pushing the market growth of IoT sensors.

The top IoT companies are competing among themselves to acquire a greater share of the budding market and cement their positions as IoT giants. Several organizations are transitioning into autonomous processes to reduce their dependence on manual labor and reduce the risks of the error to increase their productivity and profitability.

Go on to read about the market trends and analysis of the IoT sensor manufacturers and how different sectors will be affected by IoT solutions.

The Market Analysis between 2016 and 2020 with Comparison to Demand Outlook for 2021-2031

The global market of IoT sensors grew at approximately 22% CAGR between 2016 and 2020 and is currently at a valuation of over US $8 billion.

IoT sensors are heavily used in numerous applications, from traffic lights to connected cars to smart homes. The smooth interconnectivity between the devices and sensors is what makes IoT systems a popular choice for accelerating smart city initiatives.

The top IoT sensor companies in 2022 will strive to popularize the usage and benefits of IoT sensors devices in wearable electronics, smart retail, smart farming, smart supply chains, connected health, smart grids, and industrial internet, creating a massive impact on business and market growth. The global market is predicted to cross the revenue from around $8 billion in 2021 to over $106 billion by 2031.

Country-wise Analysis

The USA

According to an analysis by Persistence Market Research, overall expense on IoT sensors in the USA alone is predicted to increase at a rate of nearly 30% between 2021 and 2031, an increase from a market value of around $1 billion in 2020.

North America will emerge as the largest IoT sensors market due to the presence of top IoT companies like Honeywell and the surging demand for smart devices. Moreover, the US is also predicted to adopt new and innovative technologies at a much faster pace than the other countries around the globe.

San Francisco tops the list by having revamped 8,200 parking spots with IoT sensors, helping drivers find parking. Boston, New York, Chicago, and other major cities are proactively working to install sensors for predictive analytics and monitoring air quality in crowded urban areas.

The IoT sensor manufacturers in 2022 will benefit the most from the US market, especially from the cities of North America.

The UK

The IoT market is expected to rise at a rate of over 29% CAGR in the UK from 2021 to 2031. The increase in popularity of smart cities in countries like Germany, France, Spain, Italy, and the UK, has opened new doors of opportunities for the installation of IoT sensors across Europe.

The top IoT companies are catering to the rising demands for automation across various industry verticals and propelling the market growth. A wide array of sensors is being implemented in factories to monitor different units like basic temperature, pressure, and humidity.

India

The Indian market is likely to experience significant growth at a CAGR rate of nearly 32% between 2021 and 2031. The demand for IoT systems has also surged in other South Asia and Pacific countries like Australia, Singapore, and New Zealand.

The more developed nations like Malaysia, Australia, and Singapore will form the major markets for top IoT sensor companies 2022 and IoT solutions due to the increasing integration of sensors like pressure sensors, image sensors, level sensors, accelerometers, and many more across various application areas.

In India, connected cars, smart supply chains, smart cities, connected health, and industrial internet, among others, will have positive impacts on the IoT market.

IoT Sensors Market Trends in the Automotive and Transportation Sector

• The automotive industry is rapidly advancing towards an autonomous era all around the world, with more businesses collaborating with chip makers, cybersecurity providers, and system integrators.
• As smart cities are popping up everywhere, Car 2 Car communication and advanced fleet management are likely to emerge, providing huge scope for the top IoT Sensor companies. It has propelled innovation, and more companies adopting smart sensor technology have driven the demand for IoT sensors.
• Organizations like Volvo, Mercedes-Benz, Toyota, Volkswagen, and Google Inc. are proactively investing to develop smart cars providing more convenient, comfortable, and safer driving experiences. Not to mention the business giant, Tesla which has revolutionized the automobile industry with its range of electric and self-driving cars.
• According to NASDAQ, the market is expected to be dominated by driverless vehicles by 2030. The DHL Smar Trucking seeks to build a 10,000 IoT-enabled trucks fleet by the year 2028.
• The IoT sensor manufacturers 2022 aim to help transportation companies to enhance their fuel efficiency and map the most feasible routes. The IoT has already enabled logistics firms to track and trace their shipments and start-ups to track their available spots in real-time. IoT devices have also been installed in reservation systems used by transport operators, traffic congestion control systems within vehicles, remote vehicle monitoring mechanisms, and security and surveillance systems.

Summary

There is no doubt that top IoT sensor companies in 2022 will have a huge influence on the running and growth of several industrial sectors this year and in the years to come. The common public is also going through major lifestyle changes and adopting new and innovative technologies brought about by IoT sensors. Only time will reveal the accurate results of IoT solutions in the world.