North America IoT Sensor Market Share by Size and Growth 2027

IoT Sensor market in North America is expected to grow from US$ 3,609.9 Mn in 2017 to US$ 21,121.7 Mn by the year 2027. This represents a CAGR of 21.6% from the year 2019 to 2027.

Growing application of IoT and connected devices is fueling the North America IoT Sensor market. The advent of IoT has enabled each device to be connected over the internet and the rising adoptions would result in more than billions of devices connected over the internet. Also, validating to the above mentioned point is the fact that the data traffic rate on a global level, has grown at an annual rate of more than 65% over the last five years. Also, between 2018 and 2023, the data traffic is anticipated to grow at a compound annual growth rate of close to 40 percent. This exponential growth in data traffic over the internet is out rightly attributed to the growing penetration of smartphones and other consumer electronic devices that can be connected over the internet as a result of the growing popularity of IoT, thereby driving the IoT Sensor market in North America.

The mounting adoption of advanced technologies is anticipated to fuel the North America IoT Sensor market growth. The industrial sector is becoming increasingly entangled with Artificial Intelligence, big data as well as other such technologies. It is predicted that in the near future, automation will not only boost productivity but will also provide an advanced smart assistance to humans. The players are significantly investing in the development of industrial robots integrated with artificial intelligence. Further, the Chinese government is expanding its efforts to integrate artificial intelligence technologies into industrial sector. The integration of artificial intelligence will further reduce the intervention of humans, which will be beneficial for countries with inadequate and expensive labor force. These initiative by the market player are enhancing the growth of North America IoT Sensor market.

US is anticipated to leads the IoT Sensor market across the North America region through the forecast period. The US is a major global leader in industrial automation and associated equipment and controls. Industrial automation is broadly categorized into hardware and components which are used to automate systems in industrial or manufacturing settings. Most of the demand for IoT Sensors comes from the automobile and electronics manufacturing industries. This scope is facilitating the Applications to adopt this technology, thereby creating a substantial market for the same at present, which is projecting a positive growth on the IoT Sensors market. It will further propel the growth of manufacturing industry in the country thereby, accelerating the growth of IoT Sensor market in the U.S. This bolster the North America IoT Sensor market on the forecast period. The figure given below highlights the revenue share of Canada in the North America IoT Sensor market in the forecast period:

Canada IoT Sensor Market Revenue and Forecasts to 2027 (US$ Bn)

NORTH AMERICA AUTOMOTIVE SEMICONDUCTOR - MARKET SEGMENTATION

By Type

Temperature sensor
Light Sensor
Pressure Sensor
Chemical Sensor
Motion Sensor
Others

By Connectivity Type

Wired
Wireless

By Application

Consumer Electronics
Building Automation
Healthcare
Automotive
Industrial
Retail
Others

By Country

US
Canada
Mexico

Companies Mentioned

Analog Devices, Inc.
ARM Holdings PLC
Broadcom, Inc.
Honeywell International, Inc.
Infineon Technologies AG
NXP Semiconductors N.V.
Omron Corporation
Robert Bosch Gmbh
STMicroelectronics N.V.
Texas Instruments Incorporated

North America IoT Sensor Market Strategic Insights

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North America IoT Sensor Market Segmentation Analysis

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North America IoT Sensor Report Scope

Report Attribute	Details
Market size in 2017	US$ 3,609.9 Million
Market Size by 2027	US$ 21,121.7 Million
CAGR (2019 - 2027)	21.6%
Historical Data	2015-2016
Forecast period	2018-2027
Segments Covered	By Type Temperature Sensor Light Sensor Pressure Sensor Chemical Sensor Motion Sensor By Connectivity Type Wired Wireless By Application Consumer Electronics Building Automation Healthcare Automotive Industrial Retail
Regions and Countries Covered	North America US Canada Mexico
Market leaders and key company profiles	Analog Devices, Inc. ARM Holdings PLC Broadcom, Inc. Honeywell International, Inc. Infineon Technologies AG NXP Semiconductors N.V. Omron Corporation Robert Bosch Gmbh STMicroelectronics N.V. Texas Instruments Incorporated