Microsensor Market to Expand with Significant CAGR During 2016-2026

Microsensors are widely used in applications, to detect a change in environment and produce a corresponding output signal. These sensors are used in collaboration to improve the functionality of the device they are implemented in. Microsensors are popular because of their small size and low power consumption, hence enterprises are investing in this market to meet customers’ increasing demands. However while designing circuits, engineers have to be careful about the specifications of the microsensor to achieve the desired response. Microsensors are used in different types of information processing systems, and with the introduction of new technologies such as IoT, their applications will also increase.

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Microsensor Market: Drivers and Restraints

Microsensor technology is revolutionizing the semiconductor industry. High adoption rates of microsensor technology is driven by factors such as their low cost benefits, better sensitivity, and accuracy. Moreover, increasing popularity of smart wearable devices that use microsensors for various fitness tracking options such as counting heart-beat, measuring blood pressure, etc. is also expected to drive the growth of microsensors market. Chemical and medical applications widely deploy microsensors, to meet their high accuracy requirements. However, microsensors are not compatible with all circuits, packaging of microsensors is a problem and other device deficiencies such as offsets and non-linearity are factors hindering the growth of the microsensors market.

Microsensor Market: Segmentation

Microsensors can be segmented on the basis of type of microsensor, type of input signal, verticals, and region. The different types of microsensors are micro-electro-mechanical systems (MEMS), biochips and nanosensors. On the basis of input signal, microsensors can be segmented into thermal, radiation, mechanical, magnetic, chemical and biological signals. Microsensors are used in various verticals such as automotive, medical, consumer electronics, chemical, food and others. Region wise, the market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa.

Microsensor Market: Regional Outlook

North America region is leading the microsensors market, owing to increase in use of smart devices. Asia Pacific and Japan, are also prominent leaders with numerous sensor vendors located in this region. Western Europe is also expected to witness a moderate growth in the near future, as the government is willing to invest in upcoming technologies. Latin America and Middle East and Africa are expected to witness a slower growth than compared to other regions.

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Microsensor Market: Competition Landscape

The key players involved in microsensors market are Robert Bosch Gmbh, STMicroelectronics, Analog Device, Inc., Texas Instruments Incorporated, OMRON Corporation, Knowles Electronics LLC, InvenSense, Inc., Goertek, MEMSIC, Inc. and Kionix Inc.

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This release was published on openPR.