Internet of Things (IoT) refers to a network that is implanted with network connectivity, electronics, sensors, and software aiding the gathering and exchanging of data via physical objects. With IoT becoming ubiquitous, sensors are emerging as a potential solution for determining the physical qualities of objects and converting it into a measurable value which can be later used by another user or device. Internet of Things systems are equipped with sensors that can register changes in sound, light, motion, temperature, and pressure. With IoT sensors, tags, and actuators now embedded in objects, communication has become more hassle-free.
The global IoT sensors market is likely to witness extensive growth over the next couple of years owing to the growing market for wearable and smart devices and the development of advanced, smarter, inexpensive, and smaller sensors. Mounting need for real time applications, deployment of Ipv6, and supportive initiatives by governments are further expected to fuel the deployment of IoT sensors IoT owing to the development of the healthcare infrastructure across the globe. However, complex architecture and bandwidth related limitations can hamper the growth of the market.
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The global IoT sensors market is expected to expand at an outstanding 24.5% CAGR from 2015 to 2023.