within the Internet of Things market. Namely, the IoT sensor market. Overall this market has grown substantially over the past year. From 2021 until 2022 MarketsandMarkets.com has observed that the growth rate in IoT sensors was 33.78%. In a short projection range, by 2026 the sensors market in IoT will reach USD $29.6 billion, up from USD $11.1 billion in 2022. That is a CAGR of 28.6% just in those four years. This is not just consumer IoT, but the Industrial Internet of Things, where pressure sensors are forecast to grow at 33.73% alone. The mountainous growth of IoT markets is reaching new heights. The global markets for IoT products will reach a revenue level of USD $650.5 billion by 2026 up from $300.3 billion in 2021. |