IoT Sensors Market Worth $38.41 Billion by 2022
August 26, 2016 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "IoT Sensors Market - Global Forecast to 2022"report to their offering.
The IoT sensors market is expected to grow from USD 3.34 billion in 2015 to USD 38.41 billion by 2022, at a CAGR of 42.08% between 2016 and 2022.
The growth of this market is propelled by the development of cheaper, smarter, and smaller sensors, the growing market for smart devices and wearables, the need for real-time computing of applications, and increase in demand for IoT sensors in various applications. The market is further driven by the supportive government initiatives, deployment of IPv6, and role of the sensor fusion concept in the IoT sensors market.
Gyroscopes are increasingly being used in various industries such as automotive, industrial, healthcare and consumer electronics sectors. The gyroscopes are very reliable sensors and provide accurate information about the product. This sensor is an important tool in portable instruments as it allows a device's motion to be tracked independently of GPS or other external location measurements.
Asia-Pacific is expected to be the fastest-growing market for IoT sensors. The APAC market is divided into India, China, Japan, South Korea, Australia, and Rest of APAC. Asia-Pacific is a major market for various sectors such as consumer electronics devices & appliances, automobiles and healthcare, among others. This region has become a global focal point for large investments and business expansion opportunities.
Suggested Items
ZESTRON Academy Launches 2024 Advanced Packaging & Power Electronics Webinar Series
05/01/2024 | ZESTRONZESTRON, the leading global provider of high-precision cleaning products, services, and training solutions in the electronics manufacturing and semiconductor industries, proudly announces the launch of its highly anticipated webinar series on Advanced Packaging & Power Electronics, a webinar series on the latest innovations, cleaning, and corrosion challenges.
NextFlex Convenes the Hybrid Electronics Community at Binghamton University
05/01/2024 | NextFlexBinghamton University hosted the NextFlex hybrid electronics community on April 18 for a day of expert presentations, breakout sessions on technology and manufacturing topics, and networking.
HQ NextPCB of HQ Electronics Debut on the International Stage for Electronics Manufacture at IPC APEX 2024
05/01/2024 | PRNewswireHQ NextPCB of HQ Electronics, a leading Chinese-based multilayer PCB manufacturer and assembly house showcased its industrial prowess on the international stage for the first time at the IPC APEX Expo 2024.
GPV’s Q1 2024 Interim Financial Report Shows Strong Navigation in Uncertain Times
05/01/2024 | GPVDanish-based GPV recorded an expected drop in sales to DKK 2.3 billion for the first quarter of 2024. The decline also affected the operating profit, which was DKK 155 million compared to DKK 179 million in the same quarter last year, although the EBITDA margin was maintained. In general, demand has been softer in 2024, but GPV continues to invest for the long-term and expects the trend to turn in the second half of 2024.
All-Inclusive: PRIDE Industries Helps Employees With Disabilities to Succeed
05/01/2024 | Sandy Gentry, IPCPRIDE Industries is the leading employer of people with disabilities and those with other barriers to employment in the United States, including veterans and former foster youth. The company offers job training, placement, on-the-job coaching, and skills development for independent living. It has held IPC membership since 2000. Read more about this unique business and its connection to the electronics manufacturing industry.