IoT devices are essentially a collection of connected sensor modules, communications chips, and GPS components. Cameras are increasingly part of the mix. This growth is driving research into environmental sensors (e.g., detecting gasses, temperature, humidity, particles, and other environmental phenomena like noise and vibration).
The electronic components market is highly cost competitive, a situation that favors Chinese mass manufacturers. So, as with other markets, the “China factor” will be one to watch closely and carefully.