The global IoT sensors market was valued at ~12.32 billion in 2020. The market is forecast to grow at a CAGR of ~27.9% during the forecast period from 2021-2027. 

Sensors are a key ingredient in creating IoT solutions. Humans and machines can discern a signal that is generated by sensors when they detect external information. Sensors on the Internet of Things enable data to be collected in nearly any scenario, making them useful for medical care, nursing care, industrial, logistics, transportation, agriculture, disaster prevention, tourism, and regional businesses. 

Sensors are still being used in an expanding number of fields, and the market for sensors is still expanding. There are applications for IoT sensors in almost every industry sector, but industrial sensors are used the most followed by automotive, agriculture, and healthcare. 

Factors Affecting the Global IoT Sensors Market

• One of the major factors driving the IoT sensors market size is an increasing need for sensors for IoT applications, the high demand for connected and wearable devices, and the demand for industrial and automotive sectors for IoT sensors.
• One of the main restraints to the IoT sensors market growth is privacy and security concerns.
• IoT sensors are expected to expand a great deal during the forecast period, due to the surge in demand for them in the development of smart cities. 

Covid-19 Impact on the Global IoT Sensors Market

• The effects of COVID-19 are both evident on consumers and the economy. To contain the Covid-19 spread, manufacturing hubs have been temporarily operating at low efficiency. The shortage of materials, components, and finished goods has negatively impacted the supply chain of the market. IoT sensors companies are expected to face financial disruptions due to a lack of continuity of operations that has brought significant negative effects on shareholder returns and revenues. 
• The effects of Covid-19 on the manufacturing industry have had a significant impact on the global economy. China is the biggest importer of semiconductors and electronic components. There has been an increase in prices for semiconductor components, due to the shutdown of manufacturing facilities that had caused a shortage of supplies. There has been a significant impact on global supply chains due to component and material shortages. As well, the global economy is hindered by the reduction of capital budgets and delays for a variety of planned projects.
• Covid-19 has had a positive and negative impact on major companies worldwide by disrupting production cycles and supply chains. The pandemic situation will likely improve as vaccines are made available across the globe, and better controls are implemented, particularly in North America and Europe. IoT sensors are recovering as a result.

Regional Analysis: The Global IoT Sensors Market

North America is expected to capture the largest share of the IoT Sensor Market. Asia- Pacific, on the other hand, is poised to grow at the fastest rate in developing and growing IoT-related products or markets. Due to the region's growing demand for IoT sensors and technological advancements, North America will hold the largest market share.

Additionally, raw materials are supplied largely by nations in Asia-Pacific, while countries such as South Korea and China are technically advanced. Therefore, IoT sensor growth will be high. 

Key Players: The Global IoT Market

The prominent players in the global IoT market are:

• OMRON Corporation
• Honeywell 
• TE Connectivity
• STMicroelectronics
• Texas Instruments
• NXP Semiconductor
• Infineon Technologies
• Siemens
• General Electric 
• Murata Manufacturing Co. 
• Other Prominent Player

Aim of the Report: The Global IoT Market

The global IoT market is segmented based on End Use, Network Technology, Type, and Region.

Segmentation based on End Use

• Consumer Electronics
• Automotive
• Industrial
• Healthcare
• Food & Beverage
• Aerospace & Defense
• Transportation
• Agriculture
• Others

Segmentation based on Network Technology

• Wired
• Wireless
• Wi-Fi   
• Bluetooth   
• Bluetooth Smart
• Bluetooth Smart/Ant+
• Bluetooth 5
• Zigbee   
• Z-Wave   
• NFC   
• RFID   
• Others   

Segmentation based on Type

• Image Sensor
• Accelerometer Sensor
• Proximity Sensor
• Pressure Sensor
• Humidity Sensor
• Temperature Sensor
• Level Sensor
• Gas Sensor
• Optical Sensor
• Gyroscope Sensor
• Humidity Sensor
• Other

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America