The global sensor market is expected to reach an estimated $188.4 billion by 2022 with a CAGR of 9.2% from 2017 to 2022
LONDON, Nov. 7, 2017 /PRNewswire/ -- The future of the global sensor market looks promising with opportunities in the industrial, healthcare, consumer electronics, automotive, and aerospace/defense industries. The global sensor market is expected to reach an estimated $188.4 billion by 2022 with a CAGR of 9.2% from 2017 to 2022. The major drivers for this market are the growth of internet of things (IoT), increasing need of automation in various industries, and miniaturization of sensors.
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Emerging trends, which have a direct impact on the dynamics of the sensor industry, include increasing sensor content in automotive for safety and power efficiency and advancement in the gas sensor.
Sensor Market TrendsSensor Market Forecast
Growth Opportunities for the Global Sensor Market by Region
The study includes the sensor market size and forecast for the global sensor market through 2022 by type, end use industry, and region as follows:
Sensor Market by Type [$B shipment analysis from 2011 to 2022]:
Chemical Sensor
Temperature Sensor
Pressure Sensor
Image Sensor
Position Sensor
Bio Sensor
Flow Sensor
Level Sensor
Motion Sensor
Radar Sensor
Other Sensor
Sensor Market by End Use Industry [$B shipment analysis from 2011 to 2022]:
Industrial
Healthcare
Electronics
Automotive
Aerospace and Defense
Others
Sensor Market by Region [$B shipment analysis for 2011 – 2022]:
North America United States Canada Mexico
Europe United Kingdom Germany France
Asia Pacific Japan China South Korea India
The Rest of the World
Sensor companies profiled in this market include Sony Corporation, STMicroelectronics, Analog Devices, Inc., ABB Ltd, Texas Instruments, Robert Bosch Gmbh, and Infineon Technologies AG are among the major sensor suppliers.
Lucintel forecasts that chemical sensor is expected to remain the largest segment due to its increasing usage in industrial sector for the process control and industrial safety. Radar sensor is expected to witness the highest growth in the forecast period supported by increasing demand for advanced driving assistance system (ADAS) in the automotive industry.
Within the sensor market, industrial will remain the largest end use industry due to increased demand for automation and control in various industries, including oil and gas, chemical, and food and beverages. Lucintel predicts that the healthcare application is likely to experience the highest growth in the forecast period due to the increasing demand for Electrocardiography (ECG) sensors in cardiac treatment.
North America is expected to remain the largest region during the forecast period due to growth in smart city projects, wearable devices, and increasing demand for ADAS in automotive industry.
Some of the features of "Growth Opportunities in the Global Sensor Market 2017-2022: Trends, Forecast, and Opportunity Analysis" include:
Market size estimates: Global security detection system market size estimation in terms of value ($B) shipment.
Trend and forecast analysis: Market trend (2011-2016) and forecast (2017-2022) by segments and region.
Segmentation analysis: Global sensor market size by various applications such as product, and end user in terms of value and volume shipment.
Regional analysis: Global sensor market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of sensor in the global sensor market.
Strategic analysis: This includes M&A, new product development, and competitive landscape of sensor the global sensor market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global sensor market by sensor type (temperature sensor, pressure sensor, image sensor, position sensor, bio sensor, flow sensor, level sensor, motion sensor, radar sensor, chemical sensor, and other sensor), by end use industry (industrial, healthcare, electronics, automotive, aerospace and defense, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the sensor market?
Q.5 What are the business risks and threats to the sensor market?
Q.6 What are the emerging trends in this sensor market and reasons behind them?
Q.7 What are some changing demands of customers in the sensor market?
Q.8 What are the new developments in the sensor market? Which companies are leading these developments?
Q.9 Who are the major players in this sensor market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred by the major sensor suppliers in the last 5 years in sensor market?
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