Sensor Market is anticipated to reach USD 266.27 billion by 2023 with 11.60% CAGR | Industry Analysis by Key Leaders: Qualcomm Technologies Inc., NXP Semiconductors NV, Infineon Technologies AG, Texas Instruments

Market Highlights:

The global sensor market is showing immense growth; mainly due to the increasing need for automation and control across various industries. Also, miniaturization of sensors and growing adoption of internet of things are the major factors responsible for driving the growth of sensor market. Growing need for real time monitoring systems is boosting the growth of sensor market. Technological advancements have played a major role in the development of sensor market. Steep increase in the adoption of sensors across various applications and different industry verticals is further fuelling the market growth.

STMicroelectronics N.V., Hewlett Packard Enterprise, Panasonic Corporation, Qualcomm Technologies, Inc., Johnson Controls International Plc., NXP semiconductors N.V., Infineon Technologies AG, Atmel Corporation, Texas instruments Inc., and Robert Bosch GmbH are the major investors in the sensor market. Growing urbanization and increasing demand for automated solutions is another major factor driving the growth of sensor market. Also, increasing demand for sensors in advanced driving assistance system (ADAS) in the automotive vertical is responsible for driving the growth of the market. Moreover, increasing adoption of analytics based transport solutions is expected to drive the growth of sensor market.

Get a Sample Report @ https://www.marketresearchfuture.com/sample_request/4392

Major Key Players

• 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.

Competitive Analysis
The market of sensor appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
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 sensor market is segmented on the basis of component, technology, type, vertical, and region. Based on the component, this market has been segmented into amplifiers, analog to digital converters (ADCs), digital to analog converters (DACs), microcontrollers, and transceivers, and others. The technology-based segmentation segments the market into CMOS, MEMS, NEMS, and others. By type, the market has been segmented into biosensors, humidity sensors, image sensors, level sensors, motion & position sensors, optical sensors, pressure sensors, proximity sensors, radar sensors, temperature sensors, touch sensors, and others. Market segmentation on the basis of verticals covers aerospace & defense, automotive, consumer electronics, healthcare, industrial, IT & telecommunication, and others.

The regions covered in the global market are Europe, Asia Pacific, North America, and the rest of the world (RoW).

Regional Analysis
The regional analysis of the sensor market covers regions such as Europe, Asia Pacific, North America, and the rest of the world (RoW). The Asia Pacific is the greatest regional market. During the forecast period, is expected to grow at 7.39% CAGR due to the rapid urbanization and rising technological advancement. The crucial country-specific markets in this region are China, India, and Japan, followed by the remaining countries of the Asia Pacific region. India is the largest growing regional market, and it is expected to grow at 9% CAGR by the end of the forecast period.

North America is the second largest regional market. In 2017, its value was USD 37,633.1 million. During the forecast period, this market has been anticipated to grow at 8.86% CAGR, and its market value will most probably be USD 61,585.0 million. USA, Canada, and Mexico are the most important country-specific markets in this region. Technological advancement and the presence of many key players in this region boost the North American market. USA is the biggest country-specific market that is expected to grow at 7.22% CAGR, and its value is expected to rise to USD 24,084.9 million.
In Europe, the market is growing due to the presence of strong economies such as France, Germany, and the UK. Due to technological advancement second only to North America, Europe is one of the major regional markets. Thus, market growth for Europe is expected to register a 9.13% CAGR during the forecast period. Germany is the largest country-specific market in Europe, and during the forecast period, it is expected to grow at 8.91% CAGR, and its worth is expected to be USD 22,904 million.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/sensor-market-4392

Intended Audience

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

LIST OF TABLES
TABLE 1 SENSOR MARKET, BY PRODUCT TYPE
TABLE 2 SENSOR MARKET, BY TECHNOLOGY
TABLE 3 SENSOR MARKET, BY END-USER
TABLE 4 SENSOR MARKET, BY GEOGRAPHY
TABLE 5 NORTH AMERICA SENSOR MARKET, BY PRODUCT TYPE
TABLE 6 NORTH AMERICA SENSOR MARKET, BY TECHNOLOGY
Continued……

List of Figures
FIGURE 1 GLOBAL SENSOR MARKET: MARKET STRUCTURE
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 DROC ANALYSIS OF GLOBAL SENSOR MARKET
FIGURE 4 DRIVERS IMPACT ANALYSIS: GLOBAL SENSOR MARKET
FIGURE 5 RESTRAINT IMPACT ANALYSIS: GLOBAL SENSOR MARKET
FIGURE 6 VALUE CHAIN: GLOBAL SENSOR MARKET
Continued……

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com

This release was published on openPR.