Sensor Market – Overview:
The global sensor market is showing immense growth; mainly due to the increasing need for automation and control across various industries. Also, miniaturization of sensors and growing adoption of internet of things are the major factors responsible for driving the growth of sensor market. Growing need for real time monitoring systems is boosting the growth of sensor market. Technological advancements have played a major role in the development of sensor market. Steep increase in the adoption of sensors across various applications and different industry verticals is further fuelling the market growth.
STMicroelectronics N.V., Hewlett Packard Enterprise, Panasonic Corporation, Qualcomm Technologies, Inc., Johnson Controls International Plc., NXP semiconductors N.V., Infineon Technologies AG, Atmel Corporation, Texas instruments Inc., and Robert Bosch GmbH are the major investors in the sensor market. Growing urbanization and increasing demand for automated solutions is another major factor driving the growth of sensor market. Also, increasing demand for sensors in advanced driving assistance system (ADAS) in the automotive vertical is responsible for driving the growth of the market. Moreover, increasing adoption of analytics based transport solutions is expected to drive the growth of sensor market.
By application, the healthcare application segment is expected to grow at the highest rate during the forecast period in the global sensor market. Growing demand for electrocardiography sensors in healthcare applications is one major factor boosting the market growth. According to a recent study report published by Market Research Future, the global market of Sensor is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023).
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March 2018 – Huawei is planning to use Qualcomm In-Display Fingerprint Sensor in their New Flagship Phone. Qualcomm first announced their in-display fingerprint sensor technology at the Mobile World Congress Shanghai in June 2017. These sensors could scan through 1200 µm of an OLED display or 800 µm of cover glass and that it can even operate underwater.
February 2018 – New wearable sensor has been developed from tissue paper. A Band-Aid sized wearable sensor has been developed by scientists that can detect a pulse, a blink of an eye and other human movements. According to the researchers, the sensor is light, flexible and inexpensive, with potential applications in health care, entertainment and robotics.
The global Sensor Market is expected to reach approximately USD 266.27 billion by the end of 2023 with 11.60% CAGR during forecast period 2017-2023.
Sensor Global Market – Competitive Analysis
The market of sensor appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
STMicroelectronics N.V. (Switzerland), Hewlett Packard Enterprise (U.S.), Panasonic Corporation (Japan), Qualcomm Technologies, Inc. (U.S.), Johnson Controls International Plc. (U.S.), NXP semiconductors N.V. (Netherlands), Infineon Technologies AG (Germany), Atmel Corporation (U.S.), Texas instruments Inc. (U.S.), Robert Bosch GmbH (Germany), Sony Corporation (Japan), Honeywell International, Inc. (U.S.), Taiwan Semiconductor Manufacturing Company Limited (Taiwan), Volkswagen AG (Germany) and Canon Inc. (Japan) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Sensor Market.
Sensor Global Market – Regional Analysis
Asia Pacific is expected to witness a significant growth and hold the largest market share during the forecast period. China, Japan and India are anticipated to drive the growth of the sensor market in Asia Pacific owing to the presence of a large number of established key players such as Panasonic Corporation, Sony Corporation, Taiwan Semiconductor Manufacturing Company Limited, and Canon Inc. among others. Also, advancements in technology and increasing adoption of smartphones is responsible for driving the growth of global sensor market in the region.
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- Device manufacturers
- Network Operators
- Mobile manufacturer
- Government Agencies
- Security Agencies
- End-user sectors
- Communication operators
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