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Sensor Market Growth – Analysis For The Top Companies Like STMicroelectronics N.V, NXP Semiconductors N.V., Infineon Technologies AG, Qualcomm Technologies, Inc., Atmel Corporation, Texas Instruments Inc., Robert Bosch Gmbh, Johnson Controls Internation
Sensor
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Increasing demand for Internet of things (IoT) is one of the major driving factors for growth of the market
Increasing utilization of internet of things (IoT) is a major factor expected to boost growth of the global sensors market. Major benefits associated with IoT devices is tracking data in real-time, and providing more accurate data, which in turn leads to better decision making. Owing to these features, advent of IoT technology has led to increased adoption of smart devices such as smart watch, smart grid, smart homes, and smart water networks. For instance, according to the Coherent Market Insights' analysis, the total unit of smart watches sales in 2016 was US$ 36 million and it increased to US$ 76 million in 2017, globally. These systems are incorporated with different types of sensors that help in integrating several functionalities in a single chip such as seamless transfer and exchange of data. Moreover, sensors can be utilized for various applications including monitoring, security as well as intelligent lighting systems.
Global Sensor Market: Regional Insights
North America accounted for largest market share in global sensors market in 2017 and is expected to retain its dominance during the forecasted period. This is owing increasing usage of IoT devices in various verticals such as automotive, healthcare, agriculture, and others. This is one of the factors help in propelling growth of the market in this region. For instance, according to the Coherent Market Insights' analysis, in the U.S., around 60% of the healthcare industry have used IoT in 2017 for diagnosis and monitoring of the patient health. IoT devices in the healthcare sector helps in cost reduction, as healthcare specialists can take advantage of remote health monitoring, without the patient being present in the hospital. Additionally, advancement in wearable health gadgets such as the Apple iWatch is playing a pivotal role in monitoring individual’s health. Therefore, increasing usage of IoT, which is further expected to propel the growth of the sensors market in this particular region.
Global Sensor Market: Competitive Landscape
Key players operating in the global sensor market are STMicroelectronics N.V, NXP Semiconductors N.V., Infineon Technologies AG, Qualcomm Technologies, Inc., Atmel Corporation, Texas Instruments Inc., Robert Bosch Gmbh, Johnson Controls International Plc., Sony Corporation, and Honeywell International Inc.
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Global Light Sensors Market: Taxonomy
By Product Type
Radar Sensor
Optical Sensor
Biosensor
Touch Sensor
Image Sensors
Pressure Sensors
Temperature Sensors
Proximity& Displacement Sensors
Level Sensors
Motion & Position Sensors
Humidity Sensors
Accelerometer & Speed Sensor
By Applications
Consumer Electronics
Automotive
Aerospace
Industrial
Home Automation
Healthcare
Entertainment
Security
By Region
North America
Europe
Asia Pacific
Latin America
Middle East
Africa
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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