Press release
Sensor Market was estimated around USD 145.8 billion in 2021 and estimated to reach USD 286.3 billion in 2029 | Size, Share, Industry Forecast
Sensor Market
The Sensor Market was calculated USD 145.8 billion in 2021 and is expanding at a CAGR of 8.8% during the forecast period, reaching a value of USD 286.3 billion.
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/sensor-market/
The factors driving the growth of Sensor Market includes increasing number of smart cities around the world, growing demand for smart sensors, rising application of sensors in the end-use industries such as Consumer Electronics, Automotive, and IT & Telecom and improvements in the living standards. According to the report published by Bloomberg, the Global Smart Cities Market is estimated to reach USD 463.9 billion by the end of 2027, growing at a CAGR of 24.7% over the forecast period (2020-2027), which will accelerate the Global Sensor Market in the approaching years. Moreover, rising popularity of IoT connected devices, construction of Green Buildings across the globe, growing adoption of wireless technology in the manufacturing units and rapid urbanization, are some of the additional factors supplementing the Sensor Market size. In addition, the increasing investments by major players on research and development, rise in the launch of innovative products, strategic mergers and alliances between key companies, and growing population growth rates, are further contributing towards the market growth.
However, growth of the Sensor Market is hindered attributed to high cost of installing sensor technology.
The major players operating in the market are TE Connectivity Ltd, Murata Manufacturing Co., Ltd, Robert Bosch GmbH, Infineon Technologies AG, Samsung Electronics Co., Ltd, Sony Corporation, STMicroelectronics N.V, Synaptics Incorporated, NXP Semiconductors N.V, and Omron Corporation., among others.
Based on Type, the Temperature Sensor segment is predicted to grow at a robust CAGR during the forecast period
Growing demand for high performance and cost-effective temperature sensors, are propelling growth of the segment.
Based on Application, the Wearable Devices segment is projected to expand at a higher CAGR over the forecast period
As per the Sensor Market Report, increasing adoption of advanced technologies in wearable devices, is pushing segment's growth.
Based on Region, the North American region is anticipated to capture the largest market share during the forecast period
According to the Sensor Market Trends, growing demand for high-quality consumer electronic products across Untied States and Canada, increasing number of smart cities, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.
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
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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