The Electronic sensor market is expected to grow at a steady rate of around 7% in the forecast period. Electronic Sensors are the devices that help to detect any change in the environment and then provide the response accordingly. Electronic sensors help to detect physical input such as temperature, motion, heat, pressure, or any other entity and respond by providing an output on a display or transmitting the information for further process. Moreover, they have major applications such as flood and water level monitoring systems, environmental changes, monitoring and controlling and etc, which are the factors driving the growth of the market. In addition, the key players are working towards the advancement of the devices. For instance, Hydreon Corporation (Minneapolis, MN) has released the new RG-9 low-cost, low-power, rugged, and reliable precipitation sensor. It uses beams of infrared light to detect rainfall. Consequently, the sensor is impervious to dirt, dust, insects, birds, and other nuisances that can plague sensors. Since it consumes very little power, it is well suited to solar-powered applications.
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Based on application, the market is categorized into entertainment, communication, IT, home appliances and wearable devices. Among these, communication to hold a significant share in the market in 2020. Sensors in communication can communicate the information gathered from a monitored field through wireless links. Apart from this, sensors are also used in smart grids, smart homes, and intelligent transportation systems in which the systems are assembled using sensors coupled with information and communication technologies.
Based on technology, the electronic sensor market has been classified into CMOS, MEMS, NEMS, and others. The MEMS category is to witness higher adoption during the forecast period. MEMS are low-cost, high-precision inertial sensors that serve a wide variety of industrial applications. Moreover, MEMS is used in areas such as medical equipment, automotive electronics, and portable electronics like computer peripherals, hard drives, cell phones, wireless devices, etc.
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APAC to witness extensive growth
For a better understanding of the market adoption of the electronic sensor market industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. The demand for smartphones around the world, with a focus on feature enhancement to provide a better user experience, is the main factor driving the market for electronic sensors in the consumer industry. The lack of a standardized fabrication process for MEMS-based sensors is the main market limitation. Global demand for and growing use of wearable technology, including VR headsets, smartwatches, and activity trackers, presents opportunities. While temperature, pressure, and level sensors are commonly employed in home appliances, image, motion, proximity, and fingerprint sensors are mostly used in smartphones.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the electronic sensor market are Sony Group Corporation, Semiconductor Components Industries, LLC, Synaptic, Robert Bosch GmbH, STMicroelectronics N.V, Samsung, Panasonic Holdings Corporation, Toshiba Corporation, AMS, NXP Semiconductors.
“Global Electronic sensor market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
Market Segmentation:
- By Type (Pressure Sensor, Temperature Sensor, Motion Sensor, Image Sensor, Proximity Sensor, Fingerprint Sensor, and Others)
- By Application (Entertainment, Communication, IT, Home Appliances and Wearable Devices)
- By Technology (CMOS, MEMS, NEMS, and Others)
- By Region (North America, Europe, Asia-Pacific, Rest of the World)
- By Company (Sony Group Corporation, Semiconductor Components Industries LLC, Synaptic, Robert Bosch GmbH, STMicroelectronics N.V, Samsung, Panasonic Holdings Corporation, Toshiba Corporation, AMS, NXP Semiconductors)
Key questions answered in the study:
- What are the current and future trends of the global electronic sensor market industry?
- How the industry has been evolving in terms of type, application, and technology?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the global electronic sensor market industry?
- What is the customer orientation, purchase behavior, and expectations from the global electronic sensor market suppliers across various region and countries?
