BANGALORE, India, March 24, 2020 /PRNewswire/ -- A sensor is a device used to detect events or alterations in its environment and transmit the information to other electronics, often a processor.
The global sensor market size in 2017 was estimated at USD 138,965.0 Million and is expected to hit USD 287 Billion by 2025, at a CAGR of 9.5% from 2019 to 2025 .
Factors such as developments in sensor technology and increasing use of smartphones and other mobile devices, innovations in the automation industry, increased demand for sensors in smart city development and rise in IoT technology are expected to drive the growth of the sensor market size.
The sensors have penetrated virtually every vertical industry but have the highest use in consumer electronic goods, led by automotive and IT & Telecom. To keep track of parameters and provide a centralized framework for automatic monitoring, smartphones integrate sensors such as accelerometer and gyroscope.
TRENDS INFLUENCING THE SENSOR MARKET SIZE
- One of the major trends increasing the sensor market size is the rise in a number of smart cities. Sensors installed in smart cities help make the city more convenient and interactive for its residents.
- In the medical field, doctors use smart sensors to track daily tests such as patient blood pressure and body temperature. In addition, smart sensors monitor the quality of heart rate and blood oxygen and pass medical information to healthcare professionals across the cloud. Due to such factors, the implementation of sensors in the medical field is expected to boost the market size.
- Furthermore, with the advent of new semiconductor materials such as polymers is likely to reduce the cost, weight, and size of electronic devices and help increase demand for the market for sensors. Communication technologies like satellite-based personal networks can promote sensor demand. High demand in consumer electronics and the automotive industry has had a positive influence on market demand due to various sensor applications in these sectors.
Sensor Market Segmentation
- North America
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Sensor Market by Type
- Radar Sensor
- Optical Sensor
- Touch Sensor
- Image Sensor
- Pressure Sensor
- Temperature Sensor
- Proximity & Displacement Sensor
- Level Sensor
- Motion & Position Sensor
- Humidity Sensor
- Accelerometer & Speed Sensor
Sensor Market by Technology
Sensor Market by End User
- IT & telecom
- Aerospace & Defense
1. Automotive Radar Market Research Report
The global automotive radar market size is expected to rise from USD 3,156.26 million in 2018 to USD 12,990.27 million by 2025, at a CAGR of 22.39%.
The factors attributable to the market growth are growing policy regulations on vehicle safety and increasing the adoption of ADAS technology by OEMS, increasing the amount of radar sensors used per vehicle, and increasing demand for luxury vehicles in the segment.
The study offers in-depth insights into demand estimates, industry dynamics, and micro and macro indicators. This study further highlights the factors that drive and inhibit the demand for the Automotive Radar Market. In addition, the report offers an outlook on the current industry patterns.
2. Image Sensor Market Research Report
The global image sensor market size is projected to rise from USD 14,952.80 million in 2018 to USD 26,854.30 million by 2025, at an annual compound growth rate (CAGR) of 8.72%.
The report offers in-insights into demand estimates, industry dynamics, and micro and macro indicators. Furthermore, this report talks about the factors that drive and restrain Image Sensor Market demand.
The Image Sensor Market is highly competitive and often characterized by the presence of a significant number of foreign and regional players. The market has witnessed growing rivalry between vendors based on the pricing model, differentiation of technology, brand name, service quality, product differentiation, and technical expertise. Some of the major players in the image sensor market are Aptina Imaging Corporation, Canon Inc., CMOSIS N.V., Omnivision Technologies Inc., and Samsung Electronics Co., Ltd.
3. Magnetic Sensors Market Research Report
The global magnetic sensors market size is expected to rise from USD 3,263.24 million in 2018 to USD 5,863.23 million by 2025, at a CAGR of 8.73 percent.
Continuous growth in the consumer electronics sector, increasing opportunities in the automotive industry, and a significant role of magnetic field sensors in applications such as navigation are factors attributable to the growth of the magnetic sensor market size. Some factors, however, such as dropping average selling prices of sensor components and inconsistent intensity of the magnetic field and other technical constraints may hinder market development.
The report offers in-depth insights into demand forecasts, industry dynamics, and micro and macro indicators. This study also highlights the factors that drive and inhibit the demand of the market for magnetic sensors.
4. CMOS Image Sensor Market Research Report
The proliferation of mobile devices such as smartphones and tablets has resulted in the development of the latest image sensing techniques with remote monitoring and diagnostic capabilities. This development in technology and its extensive application is expected to increase the CMOS image sensor market size.
The research report incorporated analyzes of various factors which increase the growth of the market. It constitutes patterns, constraints, and drivers that either positively or negatively turn the market. The report provides a comprehensive market segment analysis based on region (country), manufacturers, type, and application.
5. Fingerprint Sensor Market Research Report
Fingerprint sensing is one of the most commonly used biometrics technologies. The increase in the use of fingerprint sensors in smartphones and other consumer electronics is one of the key factors driving the Fingerprint Sensor Market size.
The Fingerprint Sensor Market report offers in-depth insights into demand forecasts, industry dynamics, and micro and macro indicators. This study also provides insights into the factors that drive and inhibit the demand of the market for magnetic sensors.
The major regions covered in the report are North America, Europe, Asia-Pacific, South America, Middle East, and Africa. Furthermore, the report includes revenue and volume analysis of each region and their respective countries for the forecast years. It provides the reader with accurate data on volume sales according to the consumption for the forecast period.
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