Global Sensors Market spans across North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. The growing demand for smartphones, home appliances, consumer electronics products, vehicles, and defense products is expected to increase the demand for sensors across the world. The proliferation of IoT and wireless networking, and the development of 5G technology have triggered the adoption of IoT sensors in applications such as industrial automation, logistics & supply chain, automotive, electronics, and healthcare. Also, stringent standards for emission control and initiatives for promoting energy efficiency have driven the demand for sensors, particularly gas sensors.
The geographic analysis of the Sensor Market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Asia-Pacific dominated the global market and is expected to witness the fastest growth during the forecast period. The growing industrial sector and the increasing presence of small and medium-sized enterprises (SMEs) in the region are some of the factors that are expected to drive market growth. The growing use of consumer electronics and the increase in demand for sensors in medical devices manufacturing, automobiles, and consumer electronics have propelled the demand for sensors. The increasing awareness in the region about safety issues and toxic gases are contributing to the growth of the humidity and gas sensors market.
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The Key Players of the Global Sensor Market include ABB Group (Switzerland), Robert Bosch GmbH (Germany), STMicroelectronics NV (Switzerland), Siemens AG (Germany), Honeywell International, Inc. (US), Samsung Electronics Co. Ltd. (South Korea), General Electric Company (US), Emerson Electric Co. (US), OmniVision Technologies, Inc. (US), DENSO Corporation (Japan), International Sensor Technology (IST) (US), Delphi Technologies PLC (Ireland), Alphasense (UK), Ametek, Inc. (US), Texas Instruments Incorporated (US), OMRON Corporation (Japan), BAE Systems PLC (UK), Figaro Engineering, Inc. (Japan), Drägerwerk AG & Co. KGaA (Germany), and NXP Semiconductors (Netherlands).
Sensor Market - Segmentation
The global sensors market has been segmented based on type, component, technology, vertical, and region. Based on type, sensors are segmented into radar sensors, optical sensors, biosensors, touch sensors, image sensors, pressure sensors, temperature sensors, proximity and displacement sensors, level sensors, motion and position sensors, humidity sensors, and accelerometer and speed sensors. Based on component, the sensor market is segmented into analog to digital converters, digital to analog converters, transceivers, amplifiers, microcontrollers, and others. By technology, the sensors market is segmented into CMOS, MEMS, NEMS, and others. Based on the vertical, the global market for sensors is classified into consumer electronics, IT & telecommunication, healthcare, manufacturing, aerospace & defense, and others.
Sensor Market - Regional Analysis
Global Sensor Market, by region, has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Asia-Pacific accounted for the largest sensors market share of 37.6% in 2019, with a market value of USD 56.89 billion; the market is expected to register the highest CAGR of 7.23% during the forecast period.
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