Sensor Development Kit Market Share

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.