The Latin America, Middle East and Africa Next-Generation IoT Sensors Market would witness market growth of 53.7% CAGR during the forecast period (2024-2031).
The MEMS (Micro-Electro-Mechanical Systems) market dominated the LAMEA Next-Generation IoT Sensors Market by Technology in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,392.4 million by 2031. CMOS (Complementary Metal-Oxide-Semiconductor) market is showcasing a CAGR of 53.3% during (2024 - 2031). Additionally, The NEMS (Nano-Electro-Mechanical Systems) market would register a CAGR of 55.2% during (2024 - 2031).
The rising demand for predictive maintenance across industries is a significant driver of the next-generation IoT sensors market. Real-time data collected by IoT sensors is used in predictive maintenance to monitor the health and performance of machinery, thereby reducing unexpected failures and minimizing downtime. In sectors like manufacturing, energy, and logistics, where operational efficiency is critical, IoT sensors that monitor parameters such as vibrations, temperature, and pressure are becoming indispensable.
Additionally, these sensors can detect anomalies or irregularities in equipment long before they lead to significant failures, allowing companies to perform maintenance only when necessary, rather than following a fixed schedule. This proactive approach increases the longevity of equipment and reduces the expenses associated with operational disruptions and unnecessary repairs.
Rapid urbanization, industrialization, and a burgeoning digital transformation across a variety of sectors are driving a substantial increase in demand for IoT sensors in the LAMEA region. The adoption of IoT technologies is being accelerated by the increasing emphasis of countries in this region on the modernization of their economies and the improvement of the efficacy of key industries. Brazil, for example, stands out as one of the largest industries for consumer electronics in Latin America, with a growing middle class driving the uptake of smart devices.
Free Valuable Insights: The Worldwide Next-Generation IoT Sensors Market is Projected to reach USD 66.14 billion by 2031, at a CAGR of 50.2%
Based on Power Source, the market is segmented into Battery-Powered Sensors, Energy-Harvesting Sensors, and Plugged-In Sensors. Based on Connectivity, the market is segmented into Wi-Fi, Bluetooth, ZigBee, LPWAN, and 5G & Other. Based on Sensor Type, the market is segmented into Temperature Sensors, Pressure Sensors, Motion Sensors, Proximity Sensors, Image Sensors, and Other Sensor Type. Based on Deployment Type, the market is segmented into Cloud-Based and On-Premises. Based on Technology, the market is segmented into MEMS (Micro-Electro-Mechanical Systems), CMOS (Complementary Metal-Oxide-Semiconductor), NEMS (Nano-Electro-Mechanical Systems), RFID (Radio Frequency Identification), and Other Technology. Based on End-Use, the market is segmented into Healthcare, Automotive, Manufacturing & Industrial, Energy & Utilities, Consumer Electronics, Transportation & Logistics, and Retail & Other. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Power Source
By Connectivity
By Sensor Type
By Deployment Type
By Technology
By End-Use
By Country
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