Sensor Development Kit Market Size & Share, by Sensor Type (Gyroscope, Thermometer, Accelerometer, Pressure Sensor); End-user (Oil & Gas, Automotive & Transportation, Utilities, Food & Beverages, Manufacturing, Medical) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 3747
  • Published Date: Aug 23, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Sensor Development Kit Market size was over USD 3.91 billion in 2023 and is anticipated to reach USD 13.18 billion by 2036, witnessing around 9.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of sensor development kit is estimated at USD 4.22 billion. The growth of the market can be attributed primarily to the escalating demand for integration of industrial internet of things (IIoT) in industries where sensors are used for analysis and decision support purposes. By the end of 2024, the global spending on IIoT platforms for manufacturing is calculated to reach more than USD 12 billion, up from approximately USD 1.5 billion in 2018. Along with these, growing adoption of building automation features in industries, and rise in deployment of smart sensors for energy saving and asset management in buildings are also expected to drive market growth in the forthcoming years. Furthermore, advancements wireless technologies across the globe, coupled with surging modernization of IT infrastructure are projected to offer lucrative opportunities to the sensor development kit market in the near future.


Sensor Development Kit Market
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Sensor Development Kit Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Demand for Integration of IIoT in Industries
  • Growing Adoption of Building Automation Features in Industries

Challenges

  • Dearth of Skilled Professionals in Lower Economic Regions

Sensor Development Kit Market: Key Insights

Base Year

2023

Forecast Year

2024–2036

CAGR

9.8%

Base Year Market Size (2023)

USD 3.91 billion

Forecast Year Market Size (2036)

USD 13.18 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Sensor Development Kit Segmentation

The market is segmented by end use industry into oil & gas, automotive & transportation, utilities, food & beverages, medical, and others, out of which, the manufacturing segment is anticipated to hold the largest share in the global sensor development kit market. This can be accounted to the increasing usage of the product in the industry to continually monitor actuators, motors, rollers and other mechanical components for any sign of wear. Additionally, on the basis of sensor type, the thermometer segment is assessed to occupy the largest share during the forecast period, which can be credited to the high utilization of sensor development kits for controlling the temperature of air blast freezers, and for monitoring the operation of machines in various industries including food & beverages, oil & gas and medical. 

Our in-depth analysis of the global market includes the following segments:

           By Sensor Type

  • Gyroscope
  • Thermometer
  • Accelerometer
  • Pressure Sensor
  • Others

             By End Use Industry

  • Oil & Gas
  • Automotive & Transportation
  • Utilities
  • Food & Beverages
  • Manufacturing
  • Medical
  • Others

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Sensor Development Kit Industry - Regional Synopsis

On the basis of geographical analysis, the global sensor development kit market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific industry is poised to hold largest revenue share by 2036, on account of growing adoption of IoT devices in emerging countries of the region, namely Indonesia, Thailand, India and Singapore. In India, more than 240 million IoT connected devices were in use in 2019. The number is expected to reach over 1.5 billion by the end of the year 2021. In addition, increasing technological advancements to improve the effectiveness of sensors is also expected to drive market growth in the region in the coming years. Moreover, the market in North America is projected to grab the largest share during the forecast period ascribing to the early adoption of technology, and strong presence of prominent sensor development kit market players in the region.

 

Research Nester
Sensor-Development-Kit-Market-Share
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Companies Dominating the Sensor Development Kit Landscape

    • Semiconductor Components Industries, LLC
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • NXP Semiconductors N.V.
    • Dialog Semiconductor PLC
    • Silicon Laboratories, Inc.
    • PCTEL, Inc.
    • TE Connectivity Corporation
    • Amphenol Corporation
    • Molex LLC
    • Mouser Electronics, Inc.
    • Texas Instruments Incorporated

In the News

  • March 2021- Silicon Laboratories and SensiML partnered to enable the development of TinyML smart IoT sensing application by using the SensiML Analytics Toolkit AI/ML development software and Silicon Labs Thunderboard Sense 2 IoT Development Starter Kit.

  • January 2021- Molex introduced an accelerometer-based road noise cancelling sensor to enhance safety and driving experiences.  

Author Credits:  Abhishek Verma


  • Report ID: 3747
  • Published Date: Aug 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of sensor development kit is estimated at USD 4.22 billion.

Sensor Development Kit Market size was over USD 3.91 billion in 2023 and is anticipated to reach USD 13.18 billion by 2036, witnessing around 9.8% CAGR during the forecast period i.e., between 2024-2036. The market growth is driven by increasing demand for integration of IIoT in industries, and growing adoption of building automation features in industries.

Asia Pacific industry is poised to hold largest revenue share by 2036, on account of growing adoption of IoT devices in emerging countries of the region, namely Indonesia, Thailand, India and Singapore.

The major players in the market are Semiconductor Components Industries, LLC, NXP Semiconductors N.V., Dialog Semiconductor PLC, Silicon Laboratories, Inc., PCTEL, Inc., and others.
Sensor Development Kit Market Report Scope
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