![]() ![]() Apart from this, the absence of common protocols and communication standards is projected to hamper the market growth. Further, growing consumer awareness about reasonable consumer electronics in many countries and surging sales of electronic products are other factors anticipated to boost the growth of the global market. One of the key components used in smart cities in smart grids, smart meters, intelligent traffic management systems, smart parking, among other applications, is IoT sensors.įew other factors projected to propel further the target market growth are increasing demand for consumer electronics such as smart homes, smart TVs, and smartphones. Internet of things is a web of physical devices, vehicles, and other items integrated with actuators, software, electronics, sensors, and connectivity, which facilitate individuals to connect, collect, and create data, enhancing efficiency and decreasing human efforts. The IoT Sensors Market is estimated to grow at the rate of 28.5% CAGR by 2027 due to the rising automotive industry and the rising adoption of IoT sensors in the automotive industry. DUBLIN-( BUSINESS WIRE)-The "IoT Sensors Market based on Network Technology, Type, Application and Geography - Global Forecast to 2027" report has been added to 's offering. ![]()
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