[184 Pages Report] The Sensors Market size was estimated at USD 148.02 billion in 2023 and expected to reach USD 161.47 billion in 2024, at a CAGR 9.69% to reach USD 282.90 billion by 2030.
A sensor is a tool that detects physical phenomena and responds to inputs from the physical environment. A typical input includes pressure, heat, light, motion, and moisture, among many others. A sensor receives various signals, such as physical, chemical, or biological, and transforms them into electric signals. Sensors are increasingly used in various end-use industries such as automotive, aerospace and defense, IT & telecom, industrial manufacturing, and healthcare. The adoption of the Internet of Things has drastically increased in the past few years, which drives the demand for sensors for different applications. The trend for connected cars, electric and automated cars, is increasing demand for sensors for mapping traffic situations, intelligent observation, threat sense, and providing alerts. On the other hand, the rise in the installation costs and downscaling of camera sensor chips is adversely affecting the sensor market’s growth. The constant shift to Industry 4.0 and the rapid penetration of smartphones is elevating the demand for sensors. The ongoing introduction of advanced sensors by market vendors that provide accurate data are expected to expand the scope of the sensor market.
Regional Insights
High adoption of the industrial Internet of Things (IIoT) and Industry 4.0 principles in factories and the presence of sensor manufacturers in the U.S., the UK, Germany, France, China, and Japan are significantly contributing to the growth of the sensors market across North America, Europe, and Asia-Pacific regions. The U.S. is a technologically advanced country with a huge industrial sensor device market, as it houses numerous industrial sensor manufacturers. Additionally, the U.S. government is taking multiple measures to promote Industry 4.0 in the country, including the National Network for Manufacturing Innovation (NNMI), which consists of regional hubs expected to accelerate the development of cutting-edge manufacturing technologies to make new and globally competitive products. Moreover, the increasing investments in research and innovation centers, growing government programs, and policies favoring the automotive and IT healthcare equipment & devices markets in the UK, Germany, and Sweden are fueling the market growth in Europe for the last decade. At the same time, Asia-Pacific is expected to show remarkable growth in the forecast period, attributed to high vehicle sales, rising demand for consumer electronics, and booming IT & telecom industry among countries such as China, Japan, Singapore, and India. The low production cost of the vehicles in Asian countries due to the easy availability of cheaper labor, sourcing raw materials from China, and less stringent regulation in the region further creates an opportunity for the market to grow across this region.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Sensors Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Sensors Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Sensors Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Ametek, Inc., Amphenol Corporation, Ams-OSRAM AG, Banner Engineering Corp., Baumer Group, Denso Corporation, Dr?gerwerk AG & Co. KGaA, Dwyer Instruments, LLC, Emerson Electric Co., Fuji Electric Group by Furukawa Group, General Electric Company, Honeywell International Inc., Infineon Technologies AG, Johnson Controls International PLC, Keller America Inc., Keyence Corporation, Metallux SA, Microchip Technology Inc., New Cosmos Electric Co., Ltd., Nutronics India, Omega Engineering Inc., OmniVision Technologies Inc., Omron Corporation, Qualcomm Incorporated, Renesas Electronics Corporation, Robert Bosch GmbH, Rockwell Automation, Inc., Samsung Electronics Co., Ltd., Sensirion AG, SICK AG, Siemens AG, Sony Corporation, STMicroelectronics International N.V., TDK Corporation, TE Connectivity Ltd., and Texas Instruments Incorporated.
Market Segmentation & Coverage
This research report categorizes the Sensors Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Component
- Amplifiers
- Analog-to-digital & Digital-to-analog Converter
- Microcontrollers
- Transceivers
- Technology
- CMOS
- MEMS
- NEMS
- Type
- Accelerometer & Speed Sensor
- Biosensor
- Image Sensor
- Level & Pressure Sensor
- Motion & Position Sensor
- Optical & RADAR Sensor
- Proximity & Displacement Sensor
- Temperature & Humidity Sensor
- Touch Sensor
- End-User
- Aerospace & Defense
- Automotive
- Electronics
- Healthcare
- Industrial
- IT & Telecom
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Sensors Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Sensors Market?
- What are the technology trends and regulatory frameworks in the Sensors Market?
- What is the market share of the leading vendors in the Sensors Market?
- Which modes and strategic moves are suitable for entering the Sensors Market?
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