Sensors Market Analysis Forecasts

Sensors Market Insights

The global sensors market is anticipated to witness a lucrative growth over the forecast period. The increasing inclination towards small and cheap sensors coupled with origin of platforms such as the AR and IoT (Internet of things) is likely to boost the market growth over the forecast period. Moreover, the rising awareness amongst consumers for a better standard of living is expected to foster the demand. These sensors have a wide application in various sectors such as Telecommunication, Automotive, and Aerospace & Defence among others. Their effectiveness and accuracy are the best attributes that contribute to the growth of the sensors market. However, the high cost associated with the sensors is anticipated to hamper the growth of the market.

Sensors Market: Types Insights

Based on the types, the sensors market is segmented into Pressure, Temperature, Image, Motion, Fingerprint, Level, Gas, Magnetic Field, Position, and Light.

Fingerprint Sensors market is likely to register a significant growth over the forecast period due to its high usage in the electronic gadgests such as the smartphones, tablets, and laptops. These sensors can be installed as security applications and log-in authentication for the identification of users, and hence is expected to be highly used in defence & aerospace sector.

The motion sensor is also anticipated to grow due to its diverse application in automotive, healthcare and consumer electronics sector. The increasing demand for mobile phones and tablets are expected to boost the market growth. Technological advancements such as microelectromechanical systems (MEMS) are further expected to stimulate the growth of this segment.

Sensors Market: Technology Insights

On the basis of technology, the sensors market can be segmented into microelectromechanical systems (MEMS), complementary metal–oxide–semiconductor (CMOS), and Nanoelectromechanical systems (NEMS).

The increasing demand for MEMS technology is anticipated to augment growth in the sensors market mainly due to increasing adoption of this technology in electronic devices such as wearable devices, tablets, and smartphones. Moreover, the development of the IoT platform is projected to increase the demand for this technology in areas such as smart grids, asset-tracking systems, space exploration and building automation.

The CMOS technology accounted for the highest share of the market in 2016 and is further predicted to retain its position over the forecast period due to its properties such as low power consumption & cost-effectiveness. This technology is used in the production of microprocessors, microcontrollers and data converters.

Sensors Market: Vertical Insights

The sensors market can be segmented on the basis of industry vertical into IT & telecommunication, industrial, automotive, aerospace & defence, consumer electronics, and healthcare amongst others. Among these, the consumer electronics application segment is expected to occupy the largest share.

The automotive and healthcare sectors are also expected to grow significantly over the forecast period. The growing safety and regularity measures are expected to give a rise in the adoption of MEMS technology sensors in the automotive sector. Along with this, the growing demand for handheld medical devices operated using MEMS technology is also expected to boost the growth in the healthcare domain.

Sensors Market: Regional Insights

The sensors market in Asia Pacific is anticipated to witness an accelerated growth over the forecast period attributing to the increasing number of consumer electronics' industries in this region. Demand is primarily expected to arise from countries such as Japan, China, and India. Moreover, the increasing government initiatives such as Make in India and Digital India are expected to boost the growth of the sensors market in India.

Europe is also expected to grow significantly due to its dominance in the Information & Communications Technology (ICT), semiconductor industries and computing sectors present in this region.

Sensors Market: End-Use Landscape

The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from sensors market. The major consumers of the product are Samsung Electronics (South Korea), Boeing (The U.S.), Airbus (Netherlands) and United Health Group (The U.S.)

Sensors Market: Competitive Landscape

The global market for this product is expected to be significantly large due to the presence of numerous manufacturers. The key players include Siemens AG (Germany), STMicroelectronics (Switzerland), Omron Corporation (Japan), MTS Sensor (Germany), and Asahi Kasei Corporation (Japan).

Please note: This is not an exhaustive list of companies profiled in the report.

In October 2017, the General Motors announced collaboration with Strobe, a California tech company, to differentiate itself in the self-driving car market. Strobe manufactures its own sensor by the name of Lidar which is highly used by self-driving cars to recognize surroundings. The decreasing cost and rising accuracy of these sensors are likely to help GM to manufacture excellent self-driven cars.

In October 2017, the Lockheed Martin received orders worth $337 million to modernize Boeing Apaches. The company needs to provide modernized target acquisition designation sight and pilot night-vision sensor systems to the U.S., the U.K. and Saudi Arabia.

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