PUNE, India, March 22, 2016 /PRNewswire/ --
According to the new market research report "Electronic Sensors Market for Consumer Industry by Type (Image, Motion, Pressure, Temperature, Fingerprint, Proximity, & Others), Application (Communication & IT, Entertainment, Home Appliances, & Wearable Devices), and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market for the consumer industry is expected to reach USD 26.76 Billion by 2022, at a CAGR of 12.26% between 2016 and 2022.
Browse more than 82 market data Tables with 79 Figures spread through 172 pages and in-depth TOC on "Electronic Sensors Market For Consumer Industry"
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The growing demand for smartphones, tablets, and wearable devices such as fitness and activity trackers are the key factors driving the growth of the electronic sensors market for the consumer industry. The deployment of various sensors including image sensors, motion sensors, temperature sensors, pressure sensors, proximity sensors, fingerprint sensors, level sensors, and biosensors in various applications is expected to drive the market for communication & IT, home appliances, entertainment, and wearable devices applications.
Fingerprint sensors are expected to grow at the highest rate:
The demand from applications such as communication & IT, home appliances, entertainment, and wearable devices is expected to be the key driver for the growth of the electronic sensors market for consumer industry in the near future. The market for fingerprint sensors is expected to grow at the highest rate owing to the demand from a large number of electronic devices such as smartphones and tablets for providing more reliable and secure user access levels. Moreover, the popularity of mobile payment (m-commerce) has further strengthened the demand for fingerprint sensors in smartphones. These sensors are further classified as swipe and area fingerprint sensors, depending on their type. Swipe fingerprint sensors are most widely used across smartphones, laptops, and other consumer electronics.
Asia-Pacific is expected to be the fastest-growing region in the electronic sensors market for the consumer industry during the forecast period:
The Asia-Pacific region is home to key industrial players and a manufacturing and assembly hub for smartphones and home appliances. Therefore, this market is expected to grow at the highest CAGR between 2016 and 2022. The demand for budget smartphone and fitness and activity trackers is further expected to propel the growth of the sensor market in consumer electronics. Samsung Electronics Co., Ltd., LG Electronics, Haier, Midea, and Cree Appliance are some of the key suppliers of consumer electronics products based in this region.
Sony Corporation (Japan), STMicroelectronics N.V. (Switzerland), Samsung Electronics Co., Ltd. (South Korea), NXP Semiconductors N.V. (Netherlands), Robert Bosch GmbH (Germany), Murata Manufacturing Company, Ltd. (Japan), Infineon Technologies AG (Germany), TE Connectivity Ltd. (Switzerland), Synaptics Incorporated (U.S.), Cypress Semiconductor Corporation (U.S.), and OMRON Corporation (Japan) are the key players in the electronic sensors market for consumer industry.
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This report describes the market trends, drivers, and challenges with respect to the Electronic Sensors Market for the consumer industry, and forecasts the market up to 2022. This global report gives a detailed view of the market across the four geographies, namely, North America, Europe, Asia-Pacific, and Rest of the World. The report profiles the most promising players in the electronic sensors market for the consumer industry. In the competitive landscape of the market, the companies engaged in the manufacturing of various sensors are the key players in the market and the global market is a fragmented one. These players are adopting strategies of innovations via new product launches, expansions, partnerships, and agreements.
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