Sensor Market:
Growth opportunities in the Sensor Market look promising over the next six years. This is mainly due to the accelerated adoption of wireless connectivity devices and rising government measures to enhance the quality of life and raise economic growth.
Sensor Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The accelerating penetration of smartphones, augmented acquisition of wireless connectivity devices, rising implementation of IoT-based devices, along with the surging expansion of smart cities are some of the significant drivers proliferating the growth of the global sensor market. As per market research, several countries throughout the nation are witnessed dealing with overpopulation, which is resulting in economic and social imbalance. Thus, the government across both emerging and developed countries are emphasizing on the evolution of smart cities to enhance the quality of life of their citizens. In accordance with the National Portal of India, urban areas are anticipated to engross approximately 40% of the Indian population contributing 75% of India’s GDP by 2030. Thus, the government is constantly working on Smart Cities Mission to stimulate economic growth and improve the living standard of people by enabling local development and implementing technologies to generate innovative outcomes for the Indian population. Additionally, these cities are developed to effectively employ resources and space with the optimal distribution of benefits. As per the sensor market research, they are largely deployed in smart cities to contract the environmental footprint. The utilization of an air quality sensor helps identify the cause of pollution and analyze the air quality level. Their growing application to manage traffic, lightning, pollution, and collect garbage in smart cities will strengthen the sensor market industry.
Type Segment Drivers
Based on the type, the market is segmented into pressure, temperature, motion, image, proximity, and fingerprint sensor. Among these, the temperature sensor is expected to expand at a higher CAGR during the forecast period. This is because of the robust demand for dependable, high-performance, and economical sensors. Moreover, they help to measures heat to make sure that process stays within a specific range and is alluring more consumers.
Regional Drivers
Based on the regional coverage, North America is predicted to dominate the market over the forecast period. This is owing to the immense endorsement of IoT-based devices and increasing focus on the development of smart cities. On the other hand, Asia-Pacific is projected to witness a faster CAGR during the forecast period. This is due to the high acceptance of consumer electronics.
Sensor Market’s leading Manufacturers:
- Omron Corporation
- Infineon Technologies AG
- Murata Manufacturing Co., Ltd
- NXP Semiconductors N.V
- Sony Corporation
- Synaptics Incorporated
- Robert Bosch GmbH
- TE Connectivity Ltd
- STMicroelectronics N.V
- Samsung Electronics Co., Ltd,
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
- Biosensor
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)
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