Active Sensor Market is projected to reach $50.7 billion by 2031 | KEYENCE Corporation, Microchip Technology

According to a new report published by Allied Market Research, titled, "Active Sensor Market," The active sensor market size was valued at $18.8 billion in 2021, and is estimated to reach $50.7 billion by 2031, growing at a CAGR of 10.6% from 2022 to 2031.

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An active sensor is a tool with a broadcaster that projects a signal, light wavelength, or electrons that bounce off from an object. Sensors then collect information from reflections of sound waves, visual spectra, or particles. Active sensors are used across various sectors such as military, defense, government, mining, oil & gas, and others to ensure secured sensing devices. Active sensors offer their own energy source for illumination. Radiation from sensors is focused on target that is to be studied. The sensor picks up and measures radiation that is reflected from the target.

The growing use of sensing technologies in the automotive industry drives the market for active sensors. Active sensors will benefit from increased use of sensing technologies in military and defense industries. As earth mapping and observation technologies are applied more often, there is an increasing requirement for active sensors.

The ultrasonic sensor segment is estimated to reach $11,946.77 million by 2031 at a significant CAGR of 10.22% during the forecast period. During the projected period, it is predicted that the active sensor market would expand significantly. The global active sensor market is expanding as a result of factors like the expanding usage of ultrasonic sensors for item identification, pallet detection, and distance measurement across several sectors. Additionally, it is frequently employed in the food and beverage sector for several tasks like material handling, processing, and hygiene detection.

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The outbreak of the COVID-19 has significantly impacted active sensor market growth. Rise in demand for earth mapping solutions across various sectors has significantly led to rise in demand for active sensors during the pandemic. However, emergence of third wave of COVID-19 across the U.S. and UK is anticipated to affect growth of the active sensor market in 2022. Moreover, the automotive sector globally started to deploy active sensor solutions, which is expected to drive growth of the active sensor market analysis post pandemic.

Region-wise, North America held a significant share in the global active sensor market, owing to presence of prime players in this region. Adoption of automatic identification systems is expected to propel growth of the active sensor industry in this region. Moreover, rapid advancements in sensor technologies and growing popularity of space-borne active sensors are the primary factors that drive growth of the active sensor market in North America.

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KEY FINDINGS OF THE STUDY
• In 2021, the radar segment accounted for maximum active sensor market share, and is projected to grow at a notable CAGR during the forecast period.
• The automotive and aerospace & defense segments collectively accounted for around 33.92% market share in 2021, with the former constituting around 17.05% share.
• North America was the highest revenue contributor, accounting for $6,178 million in 2021. The considerable stage of economic expansion in North America has encouraged the creation of megacities, technological triumphs, and cutting-edge infrastructure.
• This report also provides active sensor market trends are also provided at regional as well as countrywise level.

Key players profiled in the report include Baumer Group, Emerson Electric Co., General Electric Company, Honeywell International Inc., Infineon Technologies AG, KEYENCE Corporation, Microchip Technology Inc., Murata Manufacturing Co., Northrop Grumman LITEF GmbH, NXP Semiconductors., OMRON Corporation, Robert Bosch GmbH, ROHM Co. LTD., SIEMENS AG, STMicroelectronics, Taiwan Semiconductor Manufacturing Company Limited, TDK Corporation, and TE Connectivity. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the active sensor market.

Report Overview : https://www.alliedmarketresearch.com/active-sensor-market-A17027

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