The future of the global sensor market looks attractive with opportunities in the industrial, healthcare, electronics, automotive, and aerospace/defense industries. The global sensor market is expected to reach an estimated $295 billion by 2027 with a CAGR of 11.5% from 2021 to 2027. The major drivers for this market are the growth of internet of things (IoT), increasing need of automation in various industries, and miniaturization of sensors.
Emerging Trends in the Sensor Market
Emerging trends, which have a direct impact on the dynamics of the industry, include development of new product technologies, increasing usage of sensors in ADAS application, and advances in gas sensor materials and manufacturing.
A total of 88 figures / charts and 79 tables are provided in this 186-page report to help in your business decisions. A sample figure with insights is shown below. To learn the scope of benefits, companies researched, and other details of the sensor market report, please download the report brochure.
Sensor Market by Segment
The study includes trends and forecast for the global sensor market by product type, end use industry, and region as follows:
By Product Type [$B shipment analysis from 2016 to 2027]:
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Chemical Sensor
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Temperature Sensor
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Pressure Sensor
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Image Sensor
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Position Sensor
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Bio Sensor
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Flow Sensor
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Level Sensor
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Motion Sensor
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Radar Sensor
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Other Sensor
By End Use Industry [$B shipment analysis from 2016 to 2027]:
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Industrial
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Automotive
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Healthcare
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Electronics
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Aerospace and Defense
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Others
By Region [$B shipment analysis for 2016 – 2027]:
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North America
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United States
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Canada
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Mexico
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Europe
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United Kingdom
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Germany
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France
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Asia Pacific
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Japan
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China
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South Korea
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India
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The Rest of the World
List of Sensor Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their new product developments, partnerships, mergers & acquisition, and leverage integration opportunities across the value chain. With these strategies sensor companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the sensor companies profiled in this report include.
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Sony Corporation
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STMicroelectronics
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Analog Devices, Inc.
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ABB Ltd
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NXP Semiconductors
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Sensata Technologies
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Texas Instruments
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Robert Bosch Gmbh
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Infineon Technologies AG.
Sensor Market Insight
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Lucintel forecast that radar sensor is expected to witness the highest growth in the forecast period supported by increasing demand for sensors in advanced driving assistance system (ADAS) applications.
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Industrial will remain the largest end use industry due to increased demand for automation and control in various industries, including oil and gas, chemical, and food & beverages. Healthcare industry is expected to witness the highest growth over the forecast period due to the increasing demand for Electrocardiography (ECG) sensors in cardiac treatment.
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Asia Pacific is expected to remain the largest region during the forecast period due to growth in smart city projects, wearable devices, and increasing demand for ADAS in automotive industry.
Features of Sensor Market
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Market Size Estimates: Global sensor market size estimation in terms of value ($B) shipment.
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Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
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Segmentation Analysis: Global sensor market size by various segments, such as product type, end use industry, and regions in terms of value.
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Regional Analysis: Global sensor market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
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Growth Opportunities: Analysis on growth opportunities in different product type, end use industry, and regions for the global sensor market.
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Strategic Analysis: This includes M&A, new product development, and competitive landscape for the global sensor market.
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Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the sensor market size?
Answer: The global sensor market is expected to reach an estimated $295 billion by 2027
Q2. What is the growth forecast for sensor market?
Answer: The sensor market is expected to grow at a CAGR of 11.5% from 2021 to 2027.
Q3. What are the major drivers influencing the growth of the sensor market?
Answer: The major drivers for this market are the growth of internet of things (IoT), increasing need of automation in various industries, and miniaturization of sensors.
Q4. What are the major applications or application for sensor market?
Answer: Automotive, electronics, and healthcare among others are the major application for sensor market.
Q5. What are the emerging trends in sensor market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include development of new product technologies, increasing usage of sensors in ADAS application, and advances in gas sensor materials and manufacturing.
Q6. Who are the key sensor companies?
Answer: Some of the key sensor companies are as follows:
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Sony Corporation
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STMicroelectronics
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Analog Devices, Inc.
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ABB Ltd
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NXP Semiconductors
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Sensata Technologies
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Texas Instruments
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Robert Bosch Gmbh
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Infineon Technologies AG.
Q7. Which sensor product segment will be the largest in future?
Answer: Lucintel forecast that radar sensor is expected to witness the highest growth in the forecast period supported by increasing demand for sensors in advanced driving assistance system (ADAS) applications.
Q8. In sensor market, which region is expected to be the largest in next 5 years?
Answer: Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1. What are some of the most promising, high-growth opportunities for the global sensor market by product type (chemical sensor, temperature sensor, pressure sensor, image sensor, position sensor, bio sensor, flow sensor, level sensor, motion sensor, radar sensor and others), by end use industry (Industrial, healthcare, electronics, automotive, aerospace & defense, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which regions will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5. What are the business risks and threats to the market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10. What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11. What M&A activity did take place in the last five years in the global sensor market?
For any questions related to sensor market or related to TPMS sensor, 02 sensor, mass air flow sensor, oxygen sensor, mass flow light sensor, knock sensor, tire pressure sensor, motion sensor, proximity sensor, sensor companies, sensor market size, sensor market share, sensor analysis, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.