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- The sales of IoT Sensors are anticipated to be higher in the countries of East Asia
- The connected car application segment will be the fastest-growing segment in the forecast period of 2019-2029
According to a report by Persistence Market Research, the global sales of IoT sensors is all set for a 24 per cent CAGR during the course of the next decade.
The key factors driving the growth of IoT sensors market include smart city initiatives, smart lighting, smart meters, smart parking, smart payment systems, connected vehicles, and smart waste management practices.
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Fastest-growing segment
The report highlighted that the sales of IoT Sensors are anticipated to be higher in the countries of East Asia. The connected car application segment will be the fastest-growing segment in the forecast period of 2019-2029.
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