Global Sensors Market to 2023| Analog Devices, Delphi Automotive PLC, Hitachi Automotive Systems, Honeywell Sensing & Controls, NXP Semiconductors

Albany, NY, 16th November : Recent research and the current scenario as well as future market potential of "Sensors: Technologies and Markets to 2023" globally.

Summary

Sensors have become indispensable in many industries because they provide vital information about parameters that include temperature, position, chemistry, pressure, force and load, and flow and level, and thus affect products, processes and systems.

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As technological advances in electronic control systems increase the efficiency of sensors, users are calling for advances in sensor accuracy, reliability, response time, robustness, miniaturization and communication capability. The sensor industry is robust and is expected to experience sound growth during the five-year forecast period.

Advances in micromachining have made it possible to produce micron-sized devices on a silicon wafer a process that is very attractive for large-volume applications using mass production processes. This technology is particularly important in the sensor market since silicon has been shown as a very good material for use in sensors.

In the near future, the manufacturing costs and power consumption of wireless sensors will decrease, and wireless sensors will be fully integrated into wireless networks, replacing hardwired configurations. A broad spectrum of wireless communications hardware and software is already available, and the communication industry is the largest consumer of this technology, primarily in mobile phones and base stations. Fiber optic sensors will also play a role in networks and communications.

Magnetic field sensors will play a role in magnetic storage media and customer terminals. Photodetectors for local area networks (LANs) will also see growth in regional, municipal and longdistance network applications. Nanotechnology, which involves manipulating and harnessing chemical reactions and molecular processes of living cells in designs aimed at specific technological functions, will experience strong growth within the sensor market, especially for chemical detection.

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Among the industrial sensor segments, pressure, force and load, and level sensors will experience strong growth. Image sensors will experience the highest growth because of their increased use in smartphones and many other portable devices. Biosensors and chemical sensors will also experience growth in the wake of terrorist threats to key industrial facilities such as chemical plants and due to increased use in medical applications.

Small companies account for the majority of companies within the sensor manufacturing business. Most companies pursue a focused strategy, but competitive and technological pressures are leading to consolidation and increasing concentration. However, the semiconductor industry is attempting to recapture its intensive capital investment by developing sensor solutions to address large-scale highvolume consumer-related applications. This will allow specialized industrial sensor manufacturers time to develop strategies for dealing with the competition. There are also opportunities for new entrants into the business, especially in MEMS. Further, companies with valuable intellectual property and strong customer bases make attractive acquisition candidates.

Since the publication of the previous version of this report, the CAGR five-year forecast has increased to REDACTED from REDACTED. The growth rate has increased mainly due to increased use of various types of sensors in Internet of Things (IoT) and Industrial Internet of Things (IIoT) applications, increased use of image sensors in various applications like cameras, increased use of fingerprint sensors for various purposes and sudden increase in the use of chemical sensors for many new applications. The global market for sensors, valued at nearly REDACTED in 2017, is expected to increase to more than REDACTED in 2018 and to more than REDACTED in 2023, for a compound annual growth rate (CAGR) of
REDACTED over the five-year period from 2018 through 2023."

"Report Scope

The scope of the report includes a detailed study of global and regional markets for various types of sensors and their applications, including an explanation of variations in industry growth by region. This report covers only conventional sensors such as pressure, temperature, level, flow and position sensors, and excludes unconventional sensors such as pointing sensors used in touch screens and touch-pads, barcode readers and radio frequency identification (RFID) readers; remote readout and intelligent power meters; gas and water meters; and remote readout heat meters. Estimated values used are based on manufacturers total revenues. Projected and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation.

Report Includes

- 127 tables
- A detailed overview and industry analysis of the global markets for sensors within the industry
- Analyses of global market trends with data from 2017, estimates for 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Segmentation of the global market by various types, end-uses, application industries, and geographical regions
- Country specific data and analysis for U.S., Canada, Mexico, Germany, France, Italy, Russia, China, India, Japan, Brazil, South Africa and Middle Eastern Countries
- Underlying factors influencing the global sensors market such as drivers, restraints, technological advancements, current and future trends, and regulatory developments
- Analyze the broad applications of sensors and the markets for such applications, with a special emphasis on new products being developed and the markets for these products

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- A relevant patent analysis with an assessment of technological and competitive landscape in which an organization operates
- Information about new developments taking place in the sensor industry regarding continuous improvements in environmental performance
- Company profiles of major players in the market including Analog Devices Inc., Delphi Automotive PLC, Hitachi Automotive Systems, Honeywell Sensing & Controls, NXP Semiconductors, Robert Bosch GmbH, and Texas Instruments Inc.

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This release was published on openPR.