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The global sensor market size reached a value of approximately USD 217.84 billion in 2023. The market is further projected to grow at a CAGR of 8.0% between 2024 and 2032, reaching a value of USD 435.45 billion by 2032.
A sensor is a device which detects the changes in the environment and thereafter converts it into data that can be interpreted by either a machine or a human. It responds to physical stimuli which may include light, pressure, heat, sound, and magnetism, among others.
There are numerous types of sensors, each designed to detect specific types of inputs. Common examples include temperature sensors (thermocouples, thermistors), light sensors (photodiodes, phototransistors), pressure sensors (barometers, piezoelectric sensors), motion sensors (accelerometers, gyroscopes), and many others.
Sensors are used across a wide range of applications and industry verticals. In consumer electronics, they enable features like touchscreens and image stabilisation in cameras. In industrial settings, sensors monitor and control processes, ensuring quality and safety. In environmental monitoring, they track factors like air quality and water purity. In healthcare, sensors are used for patient monitoring and diagnostics.
Growing uses of surveillance cameras, indoor navigation, and smart consumer electronics
Demand for surveillance cameras and indoor navigation applications due to growing security concerns and the growing penetration of consumer electronics are aiding the global sensor market growth. Growing security concerns, both in public and private spaces, are driving the demand for advanced surveillance cameras. This includes the need for monitoring urban areas, commercial establishments, residential properties, and critical infrastructure.
The incorporation of AI and machine learning in surveillance cameras for facial recognition, motion detection, and behaviour analysis is increasing. Sensors that enable these technologies are in high demand. The rise of smart cities and smart buildings, where surveillance cameras are integrated into broader IoT networks, requires advanced sensors for seamless connectivity and data sharing.
Furthermore, consumer electronics like smartphones and tablets are at the forefront of integrating various sensors. These include accelerometers, gyroscopes, ambient light sensors, proximity sensors, and biometric sensors like fingerprint scanners and facial recognition systems.
Growing usage of sensors in green energy solutions
The widespread use of sensors in green energy applications to keep track of heat and light levels, take readings of solar radiation, and monitor a whole host of variables while dealing with solar power, also propels the sensor market demand.
They measure the solar irradiance, or the power of sunlight, on a given surface area. This data is essential for optimising the placement and angle of solar panels to maximise energy capture. They monitor the temperature of solar panels, as excessive heat can reduce the efficiency of photovoltaic cells. This makes temperature regulation a crucial aspect in the optimal functioning of the system.
In wind energy systems, they measure wind speed and are crucial for wind turbines. They help in determining when to start or stop the turbines based on wind speed thresholds for safe and efficient operation. In hydropower plants, these sensors monitor the flow rate and water level in reservoirs and rivers, which is important for controlling the amount of water passing through turbines.
Technological innovations in the sector
One of the crucial sensor market trends is advancements in process automation that are helping in the evolution of sensing technology, resulting in more efficient and better-networked sensing devices. The high receptive nature of sensors results in low failure rates and less consumption of power.
Automation relies heavily on data to make informed decisions and operate efficiently. Sensors are the primary tools for data collection, measuring various parameters like temperature, pressure, flow, and proximity. The need for precise and reliable data in automated processes has spurred advancements in sensor accuracy, sensitivity, and range.
In the era of IoT, sensors are crucial for connecting physical processes with digital systems. Automation in industrial and consumer applications often requires a network of interconnected sensors, which collect and transmit data for real-time monitoring and control. This has led to the development of smarter, network-compatible sensors with enhanced communication capabilities.
Based on type, the market is divided into radar sensor, optical sensor, biosensors, touch sensors, image sensors, pressure sensor, temperature sensor, proximity and displacement sensor, level sensor, motion and position sensor, humidity sensor, and accelerometer and speed sensor, among others.
On the basis of technology, the market is categorised into CMOS, MEMS, and NEMS, among others. By end user, the market is classified into electronics, IT and telecom, industrial, automotive, aerospace and defence, and healthcare, among others. By region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global sensor market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
MEMS (Micro Electro-Mechanical System) sensors are expected to account for a significant portion of the sensor market share as they are highly scalable resulting in low unit costs. Advantages associated with MEMS technology such as high sensitivity, reliability, and improved accuracy are attracting a wide number of consumers towards the product, resulting in the growth of the MEMS segment and ultimately the global market for sensor. The switches and actuators produced using MEMs are capable of attaining very high frequencies.
MEMS sensors can be easily integrated with electronic circuits on the same silicon chip. This integration improves reliability and performance, reduces size, and can lower production costs. MEMS sensors are used in a variety of fields, including consumer electronics (smartphones, gaming consoles), automotive systems (airbag sensors, tire pressure monitoring systems), healthcare (implantable medical devices, diagnostic equipment), and industrial applications (pressure sensors, accelerometers).
Due to their small size, these sensors typically consume very little power, which is essential for battery-operated devices like mobile phones and wearable technology. In healthcare, MEMS sensors are used in a variety of applications, from monitoring vital signs in wearable devices to advanced diagnostics in medical equipment.
As per the sensor market analysis, the Asia Pacific is anticipated to observe rapid growth over the forecast period owing to the growing demand from countries such as India, Japan, and China. This can be attributed to the rising demand from end-use sectors such as automotive, consumer electronics, pharmaceutical, and infrastructure. Consumers in China are increasingly demanding appliances, computers, smartphones, and peripheral devices, which is boosting the demand for sensors.
The Asia Pacific is a major hub for consumer electronics manufacturing, with countries like China, South Korea, and Japan leading the way. The production of smartphones, tablets, wearable devices, and other consumer electronics significantly drives the demand for various types of sensors. The region is witnessing a surge in automotive production and sales, particularly in electric vehicles (EVs) and hybrid models. Sensors are integral to modern automotive design, used in safety systems, engine management, and increasingly in autonomous driving technologies.
Also, increasing awareness and regulatory actions regarding environmental protection in the region have led to the adoption of sensors for monitoring air quality, water quality, and other environmental parameters. Moreover, rising foreign investments and growing population are expected to aid the sensor market value in the region.
Infineon Technologies AG was founded in 1999 and is headquartered in Neubiberg, Germany. Infineon is a semiconductor manufacturing company that manufactures and supplies products including MCUs, automotive and power management ICs, and USBs, among others.
Microchip Technology Inc. is a semiconductor manufacturing company that was founded in 1989 and is headquartered in Arizona, United States. The company is known for manufacturing microcontroller, analogue, mixed-signal, and flash-IP integrated circuits.
NXP Semiconductors N.V. was established in 2006 and has its headquarters located in Eindhoven, Netherlands. The semiconductor manufacturing company enables secure connections through their purpose built rigorously tested technologies.
Other key players in the sensor market include STMicroelectronics International N.V., Qualcomm Incorporated, Bosch Sensortec GmbH, Sony Corporation, OMRON Corporation, Taiwan Semiconductor Manufacturing Company Limited, and Texas Instruments Incorporated, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
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Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Technology |
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Breakup by End User |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market reached a value of approximately USD 217.84 billion in 2023.
The market is projected to grow at a CAGR of 8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 435.45 billion by 2032.
The major drivers of the market include rising population, increasing digitalisation, and growth of the automotive sector.
The key trends of the market include rising demand for consumer electronics, increasing demand for green energy, and advancements in process automation.
The various types of sensors available in the market are radar sensor, optical sensor, biosensors, touch sensors, image sensor, pressure sensor, temperature sensor, proximity and displacement sensor, level sensor, motion and position sensor, humidity sensor, and accelerometer and speed sensor, among others.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key players in the sensor market are Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductors N.V., STMicroelectronics International N.V., Qualcomm Incorporated, Bosch Sensortec GmbH, Sony Corporation, OMRON Corporation, Taiwan Semiconductor Manufacturing Company Limited, and Texas Instruments Incorporated, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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