Sensor Market

Sensor Market generated a revenue of USD 145.8 billion in 2021 and is forecast to register a CAGR of 8.8% over the forecast period, reaching a value of USD 286.3 billion in 2029, owing to the growing use of sensors to detect physical changes in the environment such as the amount of heat, light, moisture, and motion.

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Key Drivers

The major factors contributing to the growth of the global sensor market include the increasing demand for smartphones, accelerated adoption of wireless connectivity devices, strong demand for IoT based devices, and the increasing development of smart cities. It has been observed that multiple cities across the world are dealing with overpopulation, which is leading to economic and social imbalance. Thus, the governments of both developed and developing economies are focusing on the development of smart cities to improve the quality of life of their citizens. For instance, as per the National Portal of India, urban areas are expected to hold 40% of the Indian population and would contribute 75% of India’s GDP by 2030. Thus, the government of the country is working on Smart Cities Mission, to accelerate economic growth and enhance the quality of life of people by allowing local development and using technology to create smart outcomes for citizens of India. Smart cities are designed for efficient utilization of space and resources and for the optimal distribution of benefits. Sensors are being widely used in smart cities to reduce environmental footprint.

The deployment of the air-quality sensor helps in identifying pollution causes and provides data to analyze the level of air quality. The increasing usage of sensors to control traffic, pollution, lighting, and for garbage collection in the smart cities, are some other factors which will drastically boost the demand for sensors across the globe. The emerging need for sensor-rich applications is expected to expand the market growth. The innovations of sensors to offer precise and accurate measurements is driving the demand in advanced applications. Moreover, industrial automation and the demand for compact consumer devices, such as wearables and IoT-connected devices, among others, are among the major factors driving the sensors market. ​ Enormous advantages offered by sensors which include high current capability, enlarged life, easy installation, increased productivity and reduced ownership cost are likely to augment the market growth. Increasing adoption of wearable devices, advanced application of sensors in various sectors, strategic government strategies and advancements in the automotive sector will offer enormous opportunities for the market players in the coming future.

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Type Segment Analysis

Based on the type, the market is segmented into pressure sensor, temperature sensor, motion sensor, image sensor, proximity sensor, fingerprint sensor, and other sensors. Among these, the temperature sensor is anticipated to witness a higher CAGR during the forecast period. This is attributed to the strong demand for high-performance, reliable, and low-cost sensors. A temperature sensor measures heat to ensure that process stays within a specific range and is gaining more traction among customers. The increasing adoption of temperature sensors across various industries including healthcare, automotive, and manufacturing due to its ability to accurately measure the degree and intensity of heat, will augment the market growth.

Application Segment Analysis

On the basis of application, the market is segmented into entertainment, communication & IT, home appliances, and wearable devices. Among these, the wearable devices segment is expected to observe a higher CAGR during the forecast period. This is attributed to the significant shift in the individual’s preference toward sensors in wearable devices to monitor human health and performance.

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Regional – Segment Analysis

Based on the region, North America is expected to lead the market during the forecast period. This is attributed to the high adoption of IoT-based devices and rising focus on development of smart cities across the region. In addition to this, Asia-Pacific is projected to grow at a higher CAGR during the forecast period attributed to the high adoption of consumer electronic products in this region. The low shipment cost and a reduction in manufacturing cost will further boost the growth of the sensors market in the region during the forecast period.

Top Market Players

The key players operating the market include Samsung Electronics Co., Ltd, Sony Corporation, STMicroelectronics N.V, NXP Semiconductors N.V, TE Connectivity Ltd, Murata Manufacturing Co., Ltd, Robert Bosch GmbH, Infineon Technologies AG, Synaptics Incorporated, and Omron Corporation.

Key Developments

• • In 2020 – TE Connectivity is incorporated its sensor products into Analog Devices’ MeasureWare hardware measurement kits and software studio tools. The incorporation is intended to help TE customers to easily develop precision sensor applications even without a deep understanding of precision analogue or sensor design.
  • In 2020 – Infineon Technologies developed the nation’s smallest 3D image sensor for face authentication and photo effects on smartphones. It has developed with Pmdtechnologies AG, new REAL3 single-chip solution that measures 4.4 x 5.1 mm and is the fifth generation of successful time-of-flight deep sensors

Segments covered in the Report:

The global sensors market has been segmented on the basis of type, application, and region. Based on Type, the market is segmented into pressure sensor, temperature sensor, motion sensor, image sensor, proximity sensor, fingerprint sensor, other sensors. Based on application, the market has been segmented entertainment, communication & IT, home appliances, and wearable devices.

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Key questions answered in this research report:

• • At what pace is global sensor market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in sensor market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global sensor market?
  • Which type generated maximum revenues in 2021 and identify the most promising products during the forecast period?
  • What are the various application areas of global sensor market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 145.8 Billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Samsung Electronics Co., Ltd, Sony Corporation, STMicroelectronics N.V, NXP Semiconductors N.V, TE Connectivity Ltd, Murata Manufacturing Co., Ltd, Robert Bosch GmbH, Infineon Technologies AG, Synaptics Incorporated, Omron Corporation., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Sensor Market 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

Global Sensor Market by Application

• • Entertainment
  • Communication & IT
  • Home Appliances
  • Wearable Devices

Global Sensor Market by Region

• • North America Sensor Market (Option 1: As a part of the free 25% customization)

• • • By Service Type
    • By Application
    • US Market All-Up
    • Canada Market All-Up

• • Europe Sensor Market (Option 2: As a part of the free 25% customization)

• • • By Service Type
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

• • Asia-Pacific Sensor Market (Option 3: As a part of the free 25% customization)

• • • By Service Type
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

• • RoW Sensor Market (Option 4: As a part of the free 25% customization)

• • • By Service Type
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Sensor (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Samsung Electronics Co., Ltd
  • Sony Corporation
  • STMicroelectronics N.V
  • NXP Semiconductors N.V
  • TE Connectivity Ltd
  • Murata Manufacturing Co., Ltd
  • Robert Bosch GmbH
  • Infineon Technologies AG
  • Synaptics Incorporated
  • Omron Corporation