Sensor Market is projected to grow at a CAGR of 7.5% during the forecast period, till 2029.
The factors driving the growth of Sensor Market includes increasing number of smart cities around the world, growing demand for smart sensors, rising application of sensors in the end-use industries such as Consumer Electronics, Automotive, and IT & Telecom and improvements in the living standards. Moreover, rising popularity of IoT connected devices, construction of Green Buildings across the globe, growing adoption of wireless technology in the manufacturing units and rapid urbanization, are some of the additional factors supplementing the Sensor Market size. In addition, the increasing investments by major players on research and development, rise in the launch of innovative products, strategic mergers and alliances between key companies, and growing population growth rates, are further contributing towards the market growth.
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However, growth of the Sensor Market is hindered attributed to high cost of installing sensor technology.
The major players operating in the market are TE Connectivity Ltd, Murata Manufacturing Co., Ltd, Robert Bosch GmbH, Infineon Technologies AG, Samsung Electronics Co., Ltd, Sony Corporation, STMicroelectronics N.V, Synaptics Incorporated, NXP Semiconductors N.V, and Omron Corporation., among others.
Based on Type, the Temperature Sensor segment is predicted to grow at a robust CAGR during the forecast period
Growing demand for high performance and cost-effective temperature sensors, are propelling Global Sensor Market.
Based on Application, the Wearable Devices segment is projected to expand at a higher CAGR over the forecast period
As per the Sensor Market Report, increasing adoption of advanced technologies in wearable devices, is pushing segment’s growth.
Based on Region, the North American region is anticipated to capture the largest market share during the forecast period
According to the Sensor Market Trends, growing demand for high-quality consumer electronic products across Untied States and Canada, increasing number of smart cities, rising population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.
Market Segmentation
Segmentation by Type
- Pressure Sensor
- Piezoresistive
- Capacitive
- Electromagnetic
- Optical
- Resonant Solid State
- Microelectromechanical System (MEMS)
- Others
- Temperature Sensor
- Bimetallic
- Thermistor
- Resistance Temperature Detector (RTD)
- Temperature Sensor IC
- Thermocouple
- Infrared
- Fiber Optic
- Others
- Motion Sensor
- MEMS Accelerometer
- MEMS Gyroscope
- MEMS Magnetometer
- Sensor Combos
- Image Sensor
- CMOS Image Sensor
- 2d Image Sensors
- 3d Image Sensors
- Ccd Image Sensor
- Other Image Sensors
- Nmos Linear Image Sensor
- Ingaas Linear Image Sensor
- Flat Panel X-Ray Image Sensor
- Scmos
- Operating Spectrum
- Visible Spectrum
- Invisible Spectrum
- Infrared Spectrum
- X-Ray Spectrum
- Proximity Sensor
- Capacitive Proximity Sensor
- Others
- Photoelectric Proximity Sensor
- Ultrasonic Proximity Sensor
- Fingerprint Sensor
- Others
- Level Sensor
- Biosensor
Segmentation by Application
- Entertainment
- Communication & IT
- Home Appliances
- Wearable Devices
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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