TRENDS INFLUENCING THE GROWTH OF THE GLOBAL IOT SENSORS MARKET
Governments around the world are investing in new IoT research projects for the development of smart cities. Innovations in key areas are being undertaken for smart traffic management systems and energy conservation through smart meters. Building and home automation technologies are getting popular, and pressure sensors play a key role in controlling our environments.
The global population’s ever-increasing food consumption, climate change, and decreased rainfall is putting a negative impact on traditional farming practices. Hence smart farming tools like IoT sensors provide data that give a real-time picture of what is going on in the field. Farmers are able to gain valuable inputs related to soil health, moisture content, and fertilizer intake. This will augment the growth of the IoT sensors market in the coming years. Environmental sensors monitor weather, water, and moisture content to improve field management and prevent crop disease.
Smart meters are being installed that monitor resource consumption and where it’s being delivered. Sensors in intelligent remote monitoring systems prevent leakage, improve equipment stability, and reduce maintenance costs. This will bolster the growth of the IoT sensors market. They are beneficial for recovering quickly from catastrophic failures or short circuits.
IIoT sensors are being connected with manufacturing equipment for providing condition-based maintenance alerts. These sensors record temperature, humidity, and other atmospheric operating conditions for consistent quality control. This will foster the growth of the IoT sensors market during the forecast period. The enhanced conditional awareness aids manufacturers to increase operational efficiency, conserving energy, and decreasing machine downtime.