According to a new market report by Lucintel, the future of the sensor hub market looks promising with opportunities in the consumer electronics, automotive, industrial, military, and healthcare industries. The sensor hub market is expected to grow with a CAGR of 18% from 2019 to 2024. The major drivers for this market are increasing need for low power consumption devices, growth in the number of integrated sensors in smartphones, and increasing use of 6-axis and 9-axis sensor solutions.
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In this market, application sensor, discrete sensor, and sensor integrated microcontroller processors are used in various end use industries. Lucintel forecasts that application sensor will remain the largest segment over the forecast period due to the increasing demand for smartphones.
Within the sensor hub market, consumer electronics, automotive, and healthcare are the major end use industries. Consumer electronics will remain the largest segment over the forecast period due to the increasing usage of sensor hubs in smartphones, tablets, and wearable devices.
North America will remain the largest market over the forecast period due to the increasing adoption of advanced driver-assistance systems (ADAS) for passenger safety.
Broadcom, Intel, Microchip, NXP Semiconductors, Qualcomm, Robert Bosch, Rohm, STMicroelectronics, Analog Devices, and HiLLCrest Laboratories are among the major manufacturers in the sensor hub market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the sensor hub market by processor type, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Sensor Hub Market 2019-2024: Trends, Forecast, and Opportunity Analysis”. This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the sensor hub market by processor type, end use industry, and region as follows:
By Processor Type [$M shipment analysis for 2013 – 2024]:
Application Sensor
Discrete Sensor
Sensor Integrated Microcontroller
By End Use Industry [$M shipment analysis for 2013 – 2024]:
Consumer Electronics
Automotive
Industrial
Military
Healthcare
Others
By Region [$M shipment analysis for 2013 – 2024]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/sensor-hub-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.