The global sensors market generated $139.45 billion in 2018, and is expected to reach $287.52 billion by 2026, growing at a CAGR of 9.8% from 2019 to 2026. The research offers a detailed analysis on changing market dynamics, key investment pockets, major segments, and market competition.
Factors such as growing trends in the internet-of-things, increased demand for sensors in development of smart cities, advancements in sensors and their increasing use in smartphones and other electronic devices, advancement in automation sector, and emerging application of radar in remote sensing drive the market growth. However, incorporation of the sensors in devices incurs extra value and reduces life of device, and this is one of the major challenges faced by the industry. Conversely, rise in adoption of wearable devices and innovative application in biomedical sector as well as surge in automotive sector create new opportunities for growth of the market.
Radar sensor segment to dominate through 2026
Among types, the radar sensor segment was the largest in 2017, capturing nearly 18.5% of the market share and would maintain its dominance through 2026. This is because radar sensors provide very unique advantages in varied applications in automotive, aerospace & defense, industrial, security & surveillance, traffic monitoring & management, environmental & weather monitoring, medical, healthcare, agricultural sectors, and applications in construction machines and smart electronic devices. However, the image sensor segment would grow at the fastest CAGR of 11.1% through 2026, owing to the extensive use of the sensors in industrial quality control applications to improve product yield and spot defective units on the production line.
MEMS segment to lead in terms of revenue through 2026
Among technologies, the MEMS segment accounted for more than two-fifths of the market share in 2017 and would retain its dominance through 2026. This is due to the Increasing use of MEMS in consumer electronics. However, the NEMS segment would also witness the fastest CAGR of 10.8% during the forecast period. This is due to enhanced precision offered by NEMS.
Asia Pacific to be lucrative through 2026
The Asia-Pacific market grabbed nearly half of the market share and is likely to dominate the market through 2026. It is also expected to show the highest CAGR of 10.6% through the forecast period. This is due to an increase in the technological advancements and a rise in the automotive standards in developing countries such as India, China, and Indonesia.
Key players of the industry
Leading market players analyzed in the research include STMicroelectronics, NXP semiconductors N.V., Infineon Technologies AG, Qualcomm Technologies, Inc., Atmel Corporation, Texas instruments Inc., Robert Bosch GmbH, Johnson Controls International PLC., Sony Corporation, and Honeywell International Inc.
Segmentation:
By Type
Radar Sensor
Optical Sensor
Biosensor
Touch Sensor
Image Sensor
Pressure Sensor
Temperature Sensor
Proximity & Displacement Sensor
Level Sensor
Motion & Position Sensor
Humidity Sensor
Accelerometer & Speed Sensor
Others
By Technology
CMOS
MEMS
NEMS
Others
By End User
Electronics
IT & telecom
Industrial
Automotive
Aerospace & Defense
Healthcare
Others
The report analyzes and forecasts the sensors market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global sensors market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the sensors market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of sensors market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
Report coverage
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers