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Sensor Market: Segmentation Analysis
The 120-page report segments the sensor market by end-user (electronics, it and telecom, automotive, industrial, and others) and geography (North America, APAC, Europe, MEA, and South America).
By end-user, the electronics industry is exhibiting high demand for sensors. The growing global demand for smartphones, washing machines, air conditioners, water heaters, televisions, and other household appliances is driving the growth of the electronics segment. In addition, the incorporation of additional features such as gyroscopes, accelerometers, gesture recognition, biometrics, and motion detection in consumer electronics is fostering the growth of the segment.
In terms of geography, North America is generating maximum revenue in the market. The region currently holds 39% of the global market share. Factors such as increasing technological advancement, adoption of artificial intelligence in the manufacturing sector, and the adoption of automotive standards in the US and Canada are driving the growth of the sensors market in North America. In addition, the rapid growth of the consumer electronics, industrial, automotive, and healthcare sectors and the adoption of IoT in these industries are contributing to the growth of the regional market.
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Sensor Market: Key Driver
The sensor market is driven by the rise in demand for IoT technology-based devices. Businesses across various industries are increasingly adopting smart gadgets, such as smartphones, tablets, and wearables to acquire vital information and enhance user experience. In addition, the growing need for data analysis and the integration of analytics to automate various processes and enhance operational efficiency are increasing the adoption of IoT-enabled devices. As a result of these factors, the global demand for sensors is increasing significantly, which is driving the growth of the market.
The rise in demand for sensors in the development of smart cities and the increase in usage of smartphones will further accelerate the growth of the market. However, high adoption of network embedded systems, increase in cost and decrease in device life, and the closure of various end-user industries amid COVID-19 might reduce the growth potential in the market.
Sensor Market: Vendor Landscape
The global sensor market is fragmented due to the presence of a large number of regional and international players offering a wide range of products. Vendors are focusing on new product launches, increasing R&D efforts, and M&As to remain competitive in the market.
Amphenol Advanced Sensors: The company offers advanced sensors which is a leading innovator in advanced sensing technologies and innovative embedded measurement solutions customized for regulatory and industry-driven applications.
Bosch Sensortec GmbH: The company offers motion sensors that enable various applications such as smartphones, wearables, robots, drones, AR and VR, gaming, and smart homes.
Dwyer Instruments Inc.: The company offers sensors for sensing temperature, valves, air velocity, and pressure.
Honeywell International Inc.: The company offers electronic sensors that detect and measure a physical phenomenon, such as temperature, pressure, force, or acceleration, and provide a corresponding output, usually in the form of an electronic signal.
Panasonic Corp.: The company offers inertial sensors for automotive and for commercial purposes.
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Sensor Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 16.81% |
Market growth 2022-2026 |
USD 219.90 billion |
Market structure |
Fragmented |
YoY growth (%) |
18.97 |
Regional analysis |
North America, APAC, Europe, MEA, and South America |
Performing market contribution |
North America at 39% |
Key consumer countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Amphenol Advanced Sensors, Bosch Sensortec GmbH , Dwyer Instruments Inc., Honeywell International Inc., Panasonic Corp., Rockwell Automation Inc., Siemens AG, STMicroelectronics NV., TE Connectivity Ltd., and Texas Instruments Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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