Market Overview
The global report on the sensor market reveals the possibility of acquiring USD 222.67 bn valuation by the end of 2023 while registering a CAGR of 8.37% during the forecast period of 2018 to 2023. Market Research Future (MRFR), in its report, included discussion on factors like the rising of inclusion of advanced technologies, surging investment in defense, consumer electronics, and healthcare, support from the developing regions, improving the state of disposable income, use of smart technologies, and others.
However, complexity, reliability, and the high price of the end product can deter the market from having a smooth growth.
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Sensor Market - Segmentation
The sensor market has been studied by MRFR analysts on the basis of a segmentation that includes technology, vertical, type, and component. This study provides ample scope for players to understand the market and devise plans accordingly.
By component, the global report on the Sensor Market includes a study of analog to digital converters (ADCs), microcontrollers, amplifiers, digital to analog converters (DACs), and transceivers, and others.
By technology, the global market report consists of segments like MEMS, NEMS, CMOS, and others. The CMOS sensor type is percolating well into the camera sector.
By type, the review of the sensor market includes humidity sensors, biosensors, motion & position sensors, image sensors, level sensors, pressure sensors, touch sensors, proximity sensors, optical sensors, temperature sensors, radar sensors, and others.
By verticals, the global study of the sensor market includes segments like automotive, consumer electronics, aerospace & defense, industrial, IT & telecommunication, healthcare, and others.
Key Players
The Key Players of the Global Sensor Market include ABB Group (Switzerland), Robert Bosch GmbH (Germany), STMicroelectronics NV (Switzerland), Siemens AG (Ticker: SIE) (Germany), Honeywell International, Inc. (US), Samsung Electronics Co. Ltd. (South Korea), General Electric Company (Ticker: GE) (US), Emerson Electric Co. (Ticker: EMR) (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 - 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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