According to Future Market Insights, the sensor development kit market will reach USD 3.96 billion by 2023. Over the forecast period, sensor development kits are expected to grow at an astonishing 10% CAGR, with a market value estimated at USD 10.3 billion by 2033.
With the rise in the number of IoT devices, a greater need for sensors that can collect and transmit data has arisen. Kits for sensor development facilitate IoT prototypes and testing. Microsensors and sensor technology are gaining prominence in the market, increasing the demand for sensor development kits.
Sensors that can monitor various aspects of a home or building have become increasingly popular as smart homes and automation have gained widespread popularity in the market. Easy app creation with sensor development kits has also contributed to the growth of the sensor development kit for the smart home market.
| Data Points | Key Statistics |
|---|---|
| Estimated Base Year Value (2022) | USD 3.7 billion |
| Expected Market Value (2023) | USD 3.96 billion |
| Anticipated Forecast Value (2033) | USD 10.3 billion |
| Projected Growth Rate (2023 to 2033) | 10% CAGR |
The market growth is supported by:
Building sensor development kits is usually simplified using libraries and APIs that abstract low-level sensor data processing tasks. The use of pre-built sensor development kits will provide a cost-effective solution with the ability to save both time and money compared to building their own hardware and software components.
The latest sensor development kits often offer advanced features, such as machine learning algorithms and cloud connectivity, which can be utilized to develop more sophisticated applications.
The future growth of sensor development kits is very promising in regions such as Asia Pacific, North America, and Europe. Sensors will continue to expand as technology advances in these regions. This will create new opportunities for developers to create new applications, products, and services in the market.
A number of new sensors are being developed in conjunction with the Internet of Things (IoT), including temperature, humidity, air quality, and motion sensors. Home automation systems, medical devices, and industrial machinery can be monitored and controlled using IoT-enabled sensors.
For instance, Mouser Electronics stocks Infineon Technologies AG's XENSIVTM KIT CSK PASCO2 and XENSIV KIT CSK BGT60TR13C connected sensor kits (CSK). These XENSIV-connected sensor kits bring sensor development to IoT devices in a ready-to-use form factor. Radar, environmental sensors, and other Infineon sensors can be utilized through the CSK platform to create new prototype ideas.
Sensor development kits offer developers a wide range of possibilities when it comes to exploring and developing new applications, products, and services. The latest technological advancements in sensors can be utilized by developers to develop innovative products and services that are customized to meet the customer's needs.
With advances in sensor technology, sensor development kits will continue to flourish. In addition to the use of sensor development kits for consumer and industrial applications, they can also be used for the development of custom applications for embedded systems, for both consumer and industrial applications.
In comparison with other regions, the North American market for sensor development kits is relatively highest, and it continues to grow its relevance in the market as automation becomes more widespread in the market. The United States and Cana are the major contributors to the sensor development kit market.
In the United States, the sensor development kit market is expected to grow due to the early adoption of IoT technologies, the proliferation of IoT devices, and the growing use of artificial intelligence. Additionally, this market is expected to continue to grow in this region due to the development of compact sensors and the development of new technologies, such as MEMS and nanotechnology to grow the market.
Sensor Development Kit is a compact and a comprehensive platform used by engineer to evaluate a sensor they manufacture. Sensors development kit is used to accelerate development of products by enabling rapid prototyping of design. Sensor development kit usually includes a PCB that is in anti-static bag that has the sensor device onboard.
Sensor development kit uses various sensors including gyroscopes, temperature, accelerometer, and pressure. Sensor development kit are used for application including home automation, consumer electronics, wearables, and others.
Increasing Demand of Industrial IoT (IIoT) is Driving the Market Growth
The demand is increasing for integration of IIoT in industries where sensor is used for analysis and decision support purposes. The adoption of sensors is increasing in various industries such as manufacturing, industrial and others for various application and this driving the market growth.
Also, increasing adoption of building automation features in industries and adoption of smart sensors is further creating growth opportunities for the providers in the market. Thus, the growing demand for automation in distinct process manufacturing industries is fuelling the growth of the market.
Increasing Adoption of Smart Sensors is Driving the Market Growth
Adoption of smart sensors is increasing as these wireless sensors provide real-time, and accurate information. These sensors collect and analyze the source of data and also help in driving down energy cost and boost productivity.
Smart sensors detect and monitor occupancy of desk, rooms and spaces in real-time and these sensors help to manage and maintain assets. Hence, the adoption of smart sensor is increasing for saving energy and maintaining the asset and this is driving the market growth.
The key players in the Sensor Development Kit market are
Sensor Development Kit market is analyzed across six regions including North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa. Currently North America is dominating the market, owing to presence of top player in the region. The consumer electronics industry is blooming in the region and this driving the Sensor Development Kit market in the region.
The South Asia & Pacific region is expected to witness high growth in forecast period, owing to the increasing adoption of IoT devices in emerging countries such as India, Indonesia, Thailand, Singapore and others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global Sensor Development Kit market.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with Sensor Development Kit market attractiveness as per segments. The report on Sensor Development Kit market also maps the qualitative impact of various factors on Sensor Development Kit market segments and geographies.
Explore Similar Insights
Sensor Development Kit Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
