The global sensor market is anticipated to grow significantly over the forecast period. Sensor systems and electronic instrumentation is the highest growing and upcoming segment in the semiconductor market. Sensors have a vast array of applications in electronics, industrial automation, avionics and military, mobile devices, consumer electronics, building and infrastructure, medical equipment, security, transportation, IT infrastructure and communication among others. Sensor technology is evolving consistently and is highly pervasive and complex in nature. Sensor technology relies on numerous leading-edge technologies to deliver improved functionality required by industries worldwide. Intelligent sensor system, sense and diagnose situations, make decisions, and interact with the environment. Sensors are used in standalone configurations as well as integrated with various equipment. Motion sensors have a wide range of applications in the transport sector and are used in cars to the anti-lock braking systems and reducing accidents. Optical sensors are used in military applications to detect threats whereas electromagnetic sensors are used to measure efficient delivery of utilities as part of upcoming smart grid technology and reduce CO2 emissions. Image sensors find applications in digital cameras and image reproducing devices
Sensor technology is driven by key factors such as low cost, chip-level integration, low power, and wireless connectivity etc. Advancement in technology and miniaturization of devices has driven the market growth in recent times. The introduction of new semiconductor materials such as polymers is likely to lower the cost, weight, and size of electronic devices and will help spur demand for the sensor market. Communication technologies such as satellite-based personal networks will foster the demand for sensors. High demand in the consumer electronics and automotive industry has positively impacted the market demand owing to numerous applications of sensors in these sectors. Consumer electronics include mobile phones, cameras, gaming devices, media players, etc. Automotive sector on the other hand includes sensor applications in Advance Driving Assistance System (ADAS) and hybrid cars among others. Sectors such as biosensors, image sensors, position sensors, and accelerometer are expected to show rapid market growth. Increased adoption of gyroscopes and accelerometers in consumer electronics coupled with innovative applications including gesture recognition, biometrics, motion-sensing have opened up new avenues for sensor market. In addition, the availability of cheap labor, low manufacturing cost, and the presence of Original Equipment Manufacturers (OEM) have positively driven the sensor market in developing economies. However, fluctuating global economic conditions are likely to hinder the sensor market. In addition factors such as time to market, price sensitivity among others will pose to be a challenge to the market growth
Key players in sensor market include Bosch Sensortec, Freescale Semiconductor, ST Microelectronics, Texas Instruments, Knowles
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
The recent COVID-19 pandemic that has been ravaging numerous countries across the globe has adversely affected the overall sensor, control, and automation industry. While the capital investments in the automation sector have been lethargic before the pandemic, they are expected to be put on hold or postponed for at least a year. However, the recent standstill in industrial manufacturing and production is anticipated to act as a wake-up call for the manufacturing sector on its reliance on human labor. This, in turn, is expected to highlight the advantages of robotics and automation helping a greater adoption in the post-pandemic period. As IoT, industrial automation, and digitalization are expected to become increasingly relevant to post-pandemic Tier 1 manufacturers, it may eventually turn into an opportunity especially in evolving supply chains. The report will account for Covid19 as a key market contributor.