IoT Sensors Market Size

IoT Sensors Market size is estimated at USD 27.5 billion in 2024 and is projected to reach USD 445.6 billion by the end of 2037, growing at around 29.3% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of IoT sensors is assessed at USD 35.6 billion.

Internet of Things (IoT) sensors measure physical parameters such as light, pressure, humidity, motion, etc., allowing real-time monitoring. They are the backbone of IoT ecosystems and allow devices to interact with each other and automate tasks in various sectors. The U.S. Telecom Association estimated that there will be more than 20.4 billion connected devices by 2020. Due to rapid digitization, the number can be expected to increase exponentially by 2025. The IoT sensors market is expected to rise significantly during the forecast period owing to the proliferation of smart systems and the increasing adoption of connected devices. With increased digitization globally, the need for IoT sensors is growing to gather real-time data across diverse applications.

Key players in the IoT sensors market are actively engaged in R&D and product innovations to maintain their strategic edge. For instance, in February 2024, OnePlus launched the OnePlus Watch 2 which can offer a central hub in Android 14 for managing data permissions from multiple fitness and health apps and allowing users to sync their health data with health-compatible apps. In August 2024, Medtronic announced the Food and Drug Administration (FDA) approval of the Simplera Continuous Glucose Monitor (CGM) integrated with the Simplera Sync sensor.