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The significant drivers propelling the growth of the global sensor market include strong demand for IoT based devices, the rising demand for smartphones, growing adoption of wireless connectivity devices, and the rapid development of smart cities. It has been observed that various cities worldwide are dealing with overpopulation, which is boosting the economic and social imbalance. Thereby, the governments of both developed and developing countries are focusing on the development of smart cities to enhance the quality of life of their citizens. For example, as per the National Portal of India, urban areas are projected to hold 40% of the Indian population and would contribute 75% of India’s GDP by 2030.

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