Lucintel’s latest market report analyzed that sensor provides attractive opportunities in the industrial, healthcare, consumer electronics, automotive, and aerospace/defense industries. The sensor market is expected to reach $234.7 billion by 2025 with a CAGR of 8.9%. In this market, chemical sensor is the largest segment by product type, whereas industrial is largest by end use industry. The increasing sensor content in automotive for safety and power efficiency and advancement in the gas sensor provides strategic growth path in this market.
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Based on product type, the sensor market is segmented into chemical sensor, temperature sensor, pressure sensor, image sensor, position sensor, bio sensor, flow sensor, level sensor, motion sensor, radar sensor and others. The chemical sensor segment accounted for the largest share of the market in 2020 due to its increasing usage in industrial sector for the process control and light commercial vehicles and radar sensor is expected to witness the highest CAGR during the forecast period, supported by increasing demand for sensors in advanced driving assistance system (ADAS) applications.
Browse in-depth TOC on “Sensor Market”
79 – Tables
94 – Figures
The sensor market is marked by the presence of several big and small players. Some of the prominent players offering sensor include Sony Corporation, STMicroelectronics, Analog Devices, Inc., ABB Ltd, Texas Instruments, Robert Bosch Gmbh, and Infineon Technologies AG and others.
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