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Capacitive Sensor Market Growth & Trends
The global capacitive sensor market size is expected to reach USD 40.2 billion by 2027, registering a CAGR of 5.2% from 2020 to 2027, according to a new report by Grand View Research, Inc. Increasing demand for consumer Machine-to-Machine (M2M) devices such as portable media players, e-readers, gaming consoles, digital photo frames, Personal Navigation Devices (PNDs), smart glasses, and wearables, equipped with touch screen is anticipated to drive the demand for these sensors. Rapid growth of the consumer electronics industry and increasing preference for the replacement of resistive sensors are the key factors expected to accelerate the market growth. Additionally, the rising demand for touch screens in smartphones, Automated Teller Machines (ATMs), smart vending machines, handheld insulin control devices, and planar video walls, among others are anticipated to provide lucrative growth opportunities.
Various companies such as Molex, LLC and Cochief Industrial Co., Ltd. are emphasizing on the development of capacitive touch switches for smart home applications that bodes well for the market growth. For instance, in March 2018, Molex, LLC launched the iOn capacitive touch switch that allows homeowners to turn electrical and electronic devices on and off by just tapping the switch. Capacitive sensors are experiencing significant rise in demand in robotic applications. For instance, capacitive sensors are used in robotic arms that enable the robots to detect their contacts with metallic and non-metallic surfaces.
Increasing adoption of capacitive sensors in dynamic interactive displays that are used in hotels, shopping malls, and fuel pumps is anticipated to provide significant growth opportunities to market players over the forecast period. The use of capacitive sensors in dynamic interactive displays has enabled the incorporation of features such as multi-touch and fast operation. Various consumer electronics manufacturers, such as Sharp Corporation; Sony Corporation; and Samsung Electronics, Co. Ltd. are focusing on the development of dynamic interactive displays. For instance, Sharp Corporation, in March 2018, launched PN-L501C AQUOS BOARD that has a 10-point multi-touch functionality and uses capacitive touch sensors developed by Texas Instruments Incorporated.
Capacitive Sensor Market Report Highlights
- In the manufacturing industry, capacitive position sensors are being increasingly used to measure the errors arising in machine tools such as surface grinders, lathes, and milling machines. This factor bodes well for the segment growth
- In recent years, there has been a rise in the adoption of automotive airbags, mandated by regulations such as Federal Motor Vehicle Safety Standards No. 208, which is anticipated to drive the demand in the automotive end-use segment
- Europe is anticipated to expand at a significantly high CAGR owing to the rise in the number of events such as Sensors Europe 2020 and Wearable Europe 2020. Sensors Europe 2020 focuses on the provision of guidance to manufacturers for the fabrication and development of sensors such as touch and capacitive sensors