Europe IoT Sensor market is expected to reach US$ 775.97 Million by 2027 with CAGR of 6.9%.
IoT Sensor market in Europe is expected to grow from US$ 2,304.5 Mn in 2018 to US$ 17,158.7 Mn by the year 2027. This represents a CAGR of 24.9% from the year 2019 to 2027.
The Increasing Adoption of Advanced Technologies is anticipated to fuel the Europe IoT Sensor market growth. The industrial sector is becoming increasingly entangled with Artificial Intelligence, big data as well as other such technologies. It is predicted that in the near future, automation will not only boost productivity but will also provide an advanced smart assistance to humans. The players are significantly investing in the development of industrial robots integrated with artificial intelligence. The integration of artificial intelligence will further reduce the intervention of humans, which will be beneficial for countries with inadequate and expensive labor force.
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Top Manufacturer Involved:
AVK Group A/S,Belimo Holding AG,Danfoss A/S,Flowserve Corporation,Honeywell International Inc.,Johnson Controls International Plc.,Mueller Industries, Inc. ,Samson Controls, Inc.,Schneider Electric SE,Siemens AG
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Germany is anticipated to leads the IoT Sensor market across the Europe region through the forecast period. Germany is one of the leading producer of automobiles in the world and many major car manufacturing companies are located in the country including Volkswagen, BMW AG, Audi and others. This creates a demand for HVAC system installed in the vehicles. Also, the residential construction sector of the country is rising thus, bolstering the growth of IoT Sensor market. This will further propel the growth of manufacturing industry in the country thereby, accelerating the growth of IoT Sensor market in the Germany. This bolster the Europe IoT Sensor market on the forecast period.
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EUROPE AUTOMOTIVE SEMICONDUCTOR – MARKET SEGMENTATION
By Connectivity Type
Rest of Europe
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