Press release
Sensor Market Expected to Reach Approx. USD 266.27 Bn with 11.60% CAGR, 2017-2023
Market Synopsis of Global Sensor 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. The competition among the vendors will intensify due to the increase in product extensions and various above mentioned factors. The players in the Sensor market compete on the basis of the factors such as technology, features, design and compatibility. The vendors or the manufacturers are continuously coming up with new ideas and technologies to gain competitive advantage over their competitors.
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Market Scenario:
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.
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.
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.
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Segments
For the purpose of this study, Market Research Future has segmented the market of Sensor into product type, technology, end-users and region.
By Product Type
•Analog Sensor
•Digital Sensor
•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
By Technology
•CMOS (Complementary metal–oxide–semiconductor)
•MEMS (Micro-Electro-Mechanical System)
•NEMS (Nanoelectromechanical systems)
By End-user
•Electronics
•IT & Telecommunication
•Industrial
•Automotive
•Aerospace & Defense
•Healthcare
By Region
•North America
•Europe
•Asia-Pacific
•Rest Of The World
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