Sensor Market is Prognosticated To Take off With 11.60% | Key Leaders: Johnson controls international, Atmel, Texas instruments, Robert Bosch, Sony, Taiwan Semiconductor Manufacturing

The report on the global Sensor market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player's market share analysis, competitive landscape and supply chain analysis.

Regionally, Asia Pacific accounted for the largest market share from countries such China, India, and Japan among others. The reason is attributed to growing demand for high technology adoption and growing electronic industry in the region. However, Asia Pacific is expected to grow over the forecast period, 2017-2023.

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Industry News
The UTC Aerospace System is testing its next-generation short-wave infrared camera sensor which is capable of seeing laser strobes in real time and can also be incorporated into various ground, sea and air platforms. The system is already deployed with the U.S. military testing units.

Major Key Players

The key players in the global sensor market include- STMicroelectronics N.V., Hewlett Packard Enterprise Development LP, Panasonic Corporation, Qualcomm Technologies, Inc., Johnson controls international PLC, NXP semiconductors N.V., Infineon Technologies AG, Atmel Corporation, Texas instruments Inc., Robert Bosch GmbH, Sony Corporation, Honeywell International, Inc., Taiwan Semiconductor Manufacturing Company Limited, Volkswagen and Canon Inc. among others.
Regionally, Asia Pacific accounted for the largest market share from countries such China, India, and Japan among others. The reason is attributed to growing demand for high technology adoption and growing electronic industry in the region. However, Asia Pacific is expected to grow over the forecast period, 2017-2023.

According to MRFR, the global Sensor Market is expected to reach approximately USD 266.27 billion by the end of 2023 with 11.60% CAGR during forecast period 2017-2023.

Drivers and Constraints Impacting the Market

With the growing advancement in technology and miniaturization of devices, the global market for sensor is likely to boom over the forecast period. Emergence of semiconductor materials like polymers is expected to reduce the weight, cost, and size of electronic devices which is predicted to spur the demand for sensors market in the coming years. Moreover, low cost, chip-level integration, wireless connectivity, and low power are expected to drive the market over the forecast period. Communication technologies comprising satellite-based personal network is also anticipated to foster the market growth over the years.

On the flip side, fluctuating global economic conditions are likely to hamper the market growth. Also, other factors such as price sensitivity and time to market are expected to inhibit the market growth during the forecast period. Moreover, high cost of sensor implanted devices is estimated to hamper the market growth during the forecast period.

Segmental Analysis:

The global sensor market can be bifurcated as product type, technology, end-user, and region. Based on product type, the market is segmented into radar sensor, image sensor, optical sensor, biosensors, touch sensor, pressure sensor, temperature sensor, proximity sensor and displacement sensor, level sensor, motion and position sensor, humidity sensor, accelerometer and speed sensor others. Based on technology, the market is segmented into CMOS (Complementary metal–oxide–semiconductor), MEMS (Micro-Electro-Mechanical System) and NEMS (Nanoelectromechanical systems). The applications covered by the sensor include electronics, IT & telecommunication, industrial, automotive, aerospace & defense, healthcare. Geographically, the market is segmented into North America, Europe, Asia Pacific and Rest of the World.

Furthermore, factors such as growing demand of smartphone and electronics equipment are helps to grow the market at fast pace. However, high cost of the sensor implanted devices are the factors hampering the growth of the overall market.

The global sensor market is highly competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. The sensor market is highly competitive due to the presence of several large vendors.

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Intended Audience
• Device manufacturers
• Network Operators
• Mobile manufacturer
• Government Agencies
• Security Agencies
• End-user sectors
• Communication operators
• Defense

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