Market Research Future has been monitoring the Smartphone Sensors Market 2020 and has presented an in-depth study revealing that the market is poised to grow by USD 64.02 Billion during 2019-2025 (forecast duration), at a pace of 5.50%, which is termed to be the approximate growth rate. The report offers an up-to-date analysis regarding the current market scenario after a long-term impact of COVID-19, which will bring more trends in the future, and the overall market environment will witness new avenues by a new level of revenues.
Top Market Players
MRFR recognizes top players in the global Smartphone sensors market as Broadcom Inc. (US), AMS AG(Austria), Sony Corporation (Japan), Epson Europe Electronics GmbH (Germany), DYNA IMAGE Corporation (China), Innovacom (France), Everlight Electronics Co., Ltd. (Taiwan), Meggitt SA (UK), Maxim Integrated (US), Murata Electronics Oy (Finland), Melexis (France), Samsung Electronics Co., Ltd.(South Korea), Omron Corporation (Japan), Panasonic Corporation (Japan), STMicroelectronics (France).
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Top Impacting Factors
Smartphone sensors are sensing devices, which in smartphones used to collect data for various purposes with the help of the mobile app. Magnetometer, accelerometer, light sensors, and more are some of the common sensor devices used in Smartphones. In the current days, many manufacturers are using various sensors to enhance the features and capabilities of the phone. Rising Smartphone users globally is the primary factor fuelling the growth of the Smartphone Sensors market.
MRFR, in its study, reveals that the market is concentrated, and the degree of concentration will accelerate during the forecast period as the integration of more sensors will be into action. Some of the renowned companies such as AMS AG, ALPS ALPINE CO. LTD., SAMSUNG ELECTRONICS CO. LTD., Robert Bosch GmbH, and STMicroelectronics NV have been significant participants contributing in the market’s expansion over the years.
The recent market study also revealed that sensors technology is here to stay and will witness growth much faster than earlier, owing to the COVID-19 outbreak. Experts point out that sensors technology in Smartphones is likely to accelerate adoption across sectors such as aviation, where printing of boarding pass will counter through Smartphones post lockdown, globally.
Furthermore, it is estimated that the adoption of sensor fusion solutions will swell significantly, as well as accelerating the growth of the Smartphone sensors market over the forecast period. In fact, various companies are investing profoundly in the development of Smartphone sensors over different applications, which are considered as one of the motivating factors for the market’s growth. The global Smartphone sensor is also growing at a rapid pace owing to rising demand for low and mid-range Smartphone with the advance feature, which is considered as a significant factor which is motivating the market to expand in the forecast period. Therefore, to boost the sales companies continuously improving the user experiences and developing new sensors are some top opportunities to come in the future years, as per MRFR’s analysis during COVID 19 analysis.
Segmentation of Market: Smartphone Sensor
The global Smartphone sensors market is further studied under segmental analysis, which is done among segments of mobile type, and application sensor type.
In terms of sensor type segment, the Smartphone sensors market has included biometric sensors, image sensors, gyroscope, accelerometer, GPS, magnetometer, and others. Among these, image sensors have been segmented as CCD and CMOS sensors. Whereas biometric sensors are segmented into face recognition, fingerprint sensors, and iris scanners.
In terms of mobile type segment, the market has been categorized among standard Smartphones, rugged Smartphones, and more.
In terms of the application segment, the market has included mid-range, high-end, and low-end.
Asia-Pacific, Europe, North America, and the rest of the world are the key regions included in the study of the global Smartphone sensors market.
Asia-Pacific acquired the largest market share back in 2018 owing to high investments made by the companies for the development of new sensors. The expanding urbanization and demand for Smartphones across the region have surged the demand for sensors in the region. Moreover, the existence of various Smartphone and Smartphone sensors manufacturing companies in the region such as Panasonic Corporation, Sony Corporation, Omron Corporation, and Samsung Electronics are developing new Smartphones and sensors to reduce the power consumption of Smartphones and to boost the lifespan of devices. The market in Asia-Pacific has included the markets in Japan, China, India, and the rest of Asia-Pacific. China grabbed the largest market share in the region owing to the existence of advanced technology and the escalating development and production of various Smartphones. Furthermore, the existence of inexpensive labor also plays a pivotal role in driving the market in the region.
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