Sensor Market:
The GMI Research’s latest analysis reveals that the Sensor Market is slated to register a significant CAGR over the coming years. This is mainly attributed to the strong adoption of wireless connectivity devices, the rising demand for smartphones, the increasing demand for IoT-based devices, and the growing development of smart cities.
Sensor Market’s leading Manufacturers:
- Samsung Electronics Co., Ltd
- Sony Corporation
- STMicroelectronics N.V
- NXP Semiconductors N.V
- TE Connectivity Ltd
- Murata Manufacturing Co., Ltd
- Robert Bosch GmbH
- Infineon Technologies AG
- Synaptics Incorporated
- Omron Corporation
Sensor Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The strong adoption of wireless connectivity devices, the rising demand for smartphones, the increasing demand for IoT-based devices, and the growing development of smart cities are the key drivers responsible for the growth of the sensor market size. It has been seen that different cities worldwide are facing overpopulation, which is resulting in economic and social imbalance. Thereby, the governments of both developed and emerging countries are emphasizing on the development of smart cities to enhance the quality of life of their citizens. According to the sensor market analysis, for example, according to the National Portal of India, urban areas are projected to contribute 40% of the Indian population and are anticipated to reach up to 74% of India’s GDP by the end of 2030. As per the sensor market report, the government of the nation is working on Smart Cities Mission to increase the economic growth and improve the quality of life of an individual by enabling local development and utilizing technology to bring smart outcomes for citizens of India. Smart cities are particularly designed to effectively use space and resources and for the ideal distribution of benefits. Sensors are being largely utilized in smart cities to decrease the environmental footprint. The deployment of the air-quality sensor aids in recognizing pollution causes and offers data to examine the level of air quality. The growing use of sensors to control pollution, traffic, lighting, and garbage collection in smart cities are certain factors that are expected to drive the growth of the sensor market share in terms of revenue.
Type Segment Drivers
Based on the type, the market is segmented into pressure sensor, motion sensor, temperature sensor, image sensor, fingerprint sensor, proximity sensor, and other sensors. The temperature sensor is expected to rise at a higher CAGR over the forecast period due to the rising demand for high-performance, low-cost sensors, and reliability. This temperature sensor is used to measure heat in order to make sure that the process stays within a particular range and is gaining popularity among customers.
Application Segment Drivers
Based on application, the market is segmented into communication & IT, entertainment, home appliances, and wearable devices. Wearable devices is predicted to grow at a higher CAGR in the upcoming years due to the shift in the consumers’ preference toward sensors in wearable devices to monitor human health and performance.
Sensor Market Segmentation:
Segmentation by Type:
- Pressure Sensor
- Piezoresistive
- Capacitive
- Electromagnetic
- Optical
- Resonant Solid State
- Microelectromechanical System (MEMS)
- Others
- Temperature Sensor
- Bimetallic
- Thermistor
- Resistance Temperature Detector (RTD)
- Temperature Sensor IC
- Thermocouple
- Infrared
- Fiber Optic
- Others
- Motion Sensor
- MEMS Accelerometer
- MEMS Gyroscope
- MEMS Magnetometer
- Sensor Combos
- Image Sensor
- CMOS Image Sensor
- 2d Image Sensors
- 3d Image Sensors
- Ccd Image Sensor
- Other Image Sensors
- Nmos Linear Image Sensor
- Ingaas Linear Image Sensor
- Flat Panel X-Ray Image Sensor
- Scmos
- Operating Spectrum
- Visible Spectrum
- Invisible Spectrum
- Infrared Spectrum
- X-Ray Spectrum
- Proximity Sensor
- Capacitive Proximity Sensor
- Others
- Photoelectric Proximity Sensor
- Ultrasonic Proximity Sensor
- Fingerprint Sensor
- Others
- Level Sensor
- BiosensorLiquid
- CMOS Image Sensor
Segmentation by Application:
- Entertainment
- Communication & IT
- Home Appliances
- Wearable Devices
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is one of the leading market research and consulting company that offers consulting services, syndicated research reports, and customized market research reports. We help our client to make informed business decisions and provide market intelligence studies related to the various industries such as automotive, energy, healthcare, chemicals, technology, and other sectors. Our research teams include seasoned analysts and researchers have hands-on experience in every regions, including Asia-pacific, Europe, North America, and the Rest of the World. Our market research report provides in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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