IoT Sensors Market worth 38.41 Billion USD by 2022

According to the new market research report “IoT Sensors Market by Type (Pressure, Temperature, Humidity, Magnetometer, Accelerometer, Gyroscope, Inertial, Image), Network Technology (Wired & Wireless), Vertical (Consumer IoT, Commercial IoT, Industrial IoT), and Region – Global Forecast to 2022″, the IoT sensors market is expected to reach USD 38.41 Billion by 2022, growing at a CAGR of 42.08% between 2016 and 2022. The major factors driving the growth of the IoT sensors market include development of cheaper, smarter, and smaller sensors, growing market for smart devices and wearables, need for real-time computing of applications, increase in demand for IoT sensors in various applications, supportive government initiatives, deployment of IPv6, and role of sensor fusion concept in IoT sensors market.