$219.90 Billion Growth in Sensor Market | Evolving opportunities with Amphenol Advanced Sensors and Bosch Sensortec GmbH

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NEW YORK, February 4, 2022 /PRNewswire/ — The global sensor market is expected to grow in size by $219.90 billion between 2021 and 2026. The market is expected to witness a year-on-year growth of 18.97% in 2022. However, the growth momentum of the market is expected to slow down at a CAGR of 16.81% during the period forecast. The report offers competitive insights on market leaders, key industry opportunities, trends and threats, insights into marketing, branding, market strategy and development, sales and business functions. supply.

Technavio has announced its latest market research report titled Sensor Market by End-user and Geography – Forecast and Analysis 2022-2026

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Sensors Market: Segmentation Analysis

The 120-page report segments the sensor market by end user (electronics, IT and telecommunications, automotive, industry and others) and by geographical area (North AmericaACPA, EuropeAME and South America).

By end user, the electronics industry shows strong demand for sensors. Growing global demand for smartphones, washing machines, air conditioners, water heaters, televisions, and other home appliances is driving the growth of the electronics segment. Additionally, the integration of additional features such as gyroscopes, accelerometers, gesture recognition, biometrics, and motion sensing in consumer electronics is furthering the growth of the segment.

In terms of geography, North America generates maximum revenue in the market. The region currently holds 39% of the global market share. Factors such as increasing technological advancements, the adoption of artificial intelligence in manufacturing, and the adoption of automotive standards in the United States and Canada are driving the growth of the sensor market by North America. Additionally, the rapid growth of consumer electronics, industrial, automotive, and healthcare sectors and the adoption of IoT in these industries are contributing to the growth of the regional market.

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Sensor market: key driver

The sensor market is driven by the rise in demand for devices based on IoT technology. Businesses across various industries are increasingly adopting smart gadgets, such as smartphones, tablets, and wearables to acquire vital information and improve user experience. Also, the growing need for data analytics and the integration of analytics to automate various processes and improve operational efficiency is increasing the adoption of IoT-enabled devices. Due to these factors, the global demand for sensors is increasing significantly, which is driving the growth of the market.

Rising demand for sensors in the development of smart cities and increasing usage of smartphones will further accelerate the growth of the market. However, the high adoption of network-integrated systems, increasing costs and decreasing device lifespans, as well as the shutdown of various end-user industries amid COVID-19 could reduce the potential for market growth.

Sensor Market: Vendor Landscape

The global sensor market is fragmented owing to the presence of a large number of regional and international players offering a wide range of products. Vendors are focusing on new product launches, increased R&D efforts, and mergers and acquisitions to stay competitive in the market.

Amphenol advanced sensors: The company offers advanced sensors which is a leading innovator in advanced sensing technologies and innovative in-vehicle measurement solutions customized for regulatory and industry-focused applications.

Bosch Sensortec GmbH: The company offers motion sensors that enable various applications such as smartphones, wearables, robots, drones, augmented reality and virtual reality, games and smart homes.

Dwyer Instruments Inc.: The company offers sensors to detect temperature, valves, air velocity and pressure.

Honeywell International Inc.: The company offers electronic sensors that detect and measure a physical phenomenon, such as temperature, pressure, force, or acceleration, and provide a corresponding output, usually in the form of an electronic signal.

Panasonic Corp. : The company offers inertial sensors for automotive and commercial purposes.

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Related reports:

Wearable Health Sensors Market by Type and Geography – Forecast and Analysis 2022-2026

IoT Sensor Market by Type and Geography – Forecast and Analysis 2022-2026

Scope of the sensor market

Report cover

Details

Page number

120

base year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Slowing down to a CAGR of 16.81%

Market Growth 2022-2026

$219.90 billion

Market structure

Fragmented

Annual growth (%)

18.97

Regional analysis

North America, APAC, Europe, MEA and South America

Successful market contribution

North America at 39%

Main consumer countries

United States, China, Japan, Germany and France

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Amphenol Advanced Sensors, Bosch Sensortec GmbH, Dwyer Instruments Inc., Honeywell International Inc., Panasonic Corp., Rockwell Automation Inc., Siemens AG, STMicroelectronics NV., TE Connectivity Ltd. and Texas Instruments Inc.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

About Technavio

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

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