Overview of the market
The global sensor market spans North America, Europe, Asia-Pacific, the Middle East and Africa and South America. The growing demand for smartphones, home appliances, electronics, vehicles and protection products is expected to increase the demand for sensors worldwide. The proliferation of IoT and wireless networks, and the development of 5G technology have led to the adoption of IoT sensors in applications such as industrial automation, logistics and supply chain, automotive, electronics and healthcare. Strict emission control standards and energy efficiency promotion initiatives have driven the demand for sensors, especially gas sensors.
Geographical Analysis of The sensor market Held for North America, Europe, Asia-Pacific, the Middle East and Africa and South America. Asia-Pacific dominated the global market and is expected to see the fastest growth during the forecast period. The growing industrial sector and the growing presence of small and medium-sized enterprises (SMEs) in the region are some of the factors expected to drive market growth. The increasing use of consumer electronics and the rising demand for sensors in the manufacture of medical equipment, cars and consumer electronics have driven the demand for sensors. The growing awareness in the area of safety issues and toxic gases is contributing to the growth of the humidity and gas sensor market.
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Sensor Market – Segmentation
The global sensor market is segmented based on type, component, technology, vertical and region. Based on type, the sensors are divided into radar sensors, optical sensors, biosensors, touch sensors, image sensors, pressure sensors, pressure sensors, temperature sensors, proximity and displacement sensors, level sensors, motion and position sensors, humidity sensors, accelerometer and speed sensors. Based on a component, the sensor market is segmented into analog-to-digital converters, digital-to-analog converters, transceivers, amplifiers, microcontrollers and others. By technology, the sensor market is segmented into CMOS, MEMS, NEMS and others. Based on the vertical, the global sensor market is classified into consumer electronics, IT and telecommunications, healthcare, manufacturing, aerospace and security and others.
Key players
Key players in the global sensor market include ABB Group (Switzerland), Robert Bosch GmbH (Germany), STMicroelectronics NV (Switzerland), Siemens AG (Germany), Honeywell International, Inc. (USA), Samsung Electronics Co. Ltd. (South Korea), General Electric (USA), Emerson Electric Co. (USA), OmniVision Technologies, Inc. (USA), DENSO Corporation (Japan), International Sensor Technology (IST) (USA), Delphi Technologies PLC (Ireland), Alphasens (UK), Ametek, Inc. (USA), Texas Instruments Corporation (USA), OMRON Corporation (Japan), BAE Systems PLC (UK), Figaro Engineering, Inc. (Japan), Drägerwerk AG & Co. KGaA (Germany), and NXP Semiconductor (Netherlands).
Sensors Market – Regional Analysis
The global sensor market, by region, is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa and South America. Asia-Pacific accounted for the largest market share of sensors of 37.6% in 2019, with a market capitalization of $ 56.89 billion; The market is expected to record the highest CAGR of 7.23% during the forecast period.
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