Internet of things has become a sensation as the world is moving towards a digital future. To add to its advantage, the governments are also supporting this transition in the technology and market. Governments are adopting joint initiatives with the market players to spread the technology in urban as well as rural areas. One such example is the initiative taken by a state government in India, in association with Ericsson. The Financial Express has reported on this, saying “An Internet of Things solution implemented in Mori village of East Godavari district run by the Andhra Pradesh government in association with telecommunications major, Ericsson is showing the way with the help of connected aquaponics and smart water grid management.” They further mention, “Using wireless sensor network and Ericsson’s AppIoT platform; it enables the monitoring of the aqua farm 24x7, thereby enabling the farmers with real-time information.”
Such developments in the industry has attracted the attention of the major players. Keeping in mind the key players and market dynamics, BIS Research has published an extensive report titled “Global Sensors in Internet of Things (IoT) Devices Market, Analysis and Forecast: 2016 to 2022”, with the focus on types of sensors vis a vis pressure, temperature, light, chemical and motion sensors. Application of sensors in IoT has also been explored, mainly in areas of healthcare, manufacturing, retail and transportation. The research analyst at BIS Research says, “The Internet of Things (IoT) sensors industry is a fast growing industry, with an enormous scope for future developments. Widespread use of Internet of Things (IoT) devices in developed regions has had a tremendous impact on the sensor market, thus increasing the usage of sensors in Internet of Things (IoT) market to a large extent since its inception. Sensors help in monitoring our surroundings in a highly efficient manner.”
Keeping market trends in mind, the analyst have divided the market according to developed and developing economies, in which they have covered the market of different regions. Some of the key players that have been covered in the report are- Acuity Brands Inc., ARM Holdings, Bosch Sensortec, Ericsson, Google Inc. and Honeywell International Inc. The revenue generated from the sensors in Internet of Things (IoT) market has been tracked by the analysts to calculate the market size. The analyst at BIS Research states, “The global sensors market in Internet of Things (IoT) devices was estimated at $10,596.39 million in 2015 and is expected to reach at a significant level by 2022 registering a CAGR of 26.91% from 2015 to 2022. The factors driving the growth of the Internet of Things (IoT) sensors market include: widespread internet connectivity, rapid adoption of mobile technology and constantly falling average selling price (ASP) of sensors in Internet of Things (IoT) devices.”
The key market players have also been analysed in the report on the paradigms of business financials, geographic revenue mix, major developments, future programs (if any), and individual SWOT analysis.
