European IoT Sensor Market Nears $17.2 Billion by 2027 – Continuous Development in Consumer Electronics Propels Demand – ResearchAndMarkets.com
The Europe IoT Sensor market accounted for US$ 2,304.5 Mn in 2018 and is expected to grow at a CAGR of 24.9% over the forecast period 2018-2027, to account for US$ 17,158.7 Mn in 2027.
Factors including continuous development in consumer electronics are driving the Europe IoT Sensor market. With the rising demand for smartphone, laptops, tablets, smart watches, and other consumer electronic products have also intrigued the manufacturing industry to increase its production capacity. In the current scenario, various consumer electronic devices are used by consumers across the globe for a plethora of tasks.