USD 189 billion
Global Sensor Market Size, Share, Growth Analysis, By Sensor Type(Temperature & Humidity Sensors, Pressure Sensors), By Technology(MEMS, CMOS), By Component(Analog-to-Digital Converters (ADC), Digital-to-Analog Converters (DAC)), By End-User Industry(Aerospace & Defense, Automotive) - Industry Forecast 2023-2030
Report ID: SQSG45K2012 | Region: Global | Published Date: October, 2022 | Pages: 157 | Tables: 139 | Figures: 77
Global Sensor Market Insights
Global Sensor Market size was valued at USD 189 billion in 2021 and is poised to grow from USD 204.8 billion in 2022 to USD 508.64 billion by 2030, growing at a CAGR of 8.1% in the forecast period (2023-2030).
Sensors detect physical input such as light, heat, motion, wetness, pressure, or any other entity and respond by displaying the information or transmitting it in computer form for further processing. These are widely used in flood and water level monitoring systems, environmental monitoring, traffic monitoring and control, energy savings in artificial lighting, remote system monitoring and equipment fault diagnosis, precision agriculture, and animal tracking. Sensors are used in practically every industry vertical, however they are most common in consumer electronics, followed by automotive and IT & telecom. Smartphones use sensors such as accelerometers, gyroscopes, ambient light sensors, proximity sensors, and temperature detectors to monitor parameters and provide a centralized system for automatic control.
US Sensor Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot
Global Market Size
Largest Segment
MEMS
Fastest Growth
MEMS
Growth Rate
8.1% CAGR
Global Sensor Market 2021-2028 ($ Mn)
Country Share for Asia-Pacific Region- 2021 (%)
Global Sensor Market Size by Technology 2021-2028 ($ Mn)
Global Sensor Market Size by Technology 2021-2028 (%)
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Global Sensor Market Segmental Analysis
The global sensor market is segmented based on sensor type, technology, component, end-user industry, and region. Based on the sensor type, the Sensor Market is segmented into temperature & humidity sensors, pressure sensors, flow sensors, touch sensors, image sensors, motion & occupancy sensors, water sensors, position sensors, light sensors, ultrasonic sensors, and others. Based on the technology, the Sensor Market is segmented into MEMS, CMOS, MST, others. Based on the component, the Sensor Market is segmented into Analog-to-Digital Converters (ADC), Digital-to-Analog Converters (DAC), transceivers, amplifiers, microcontrollers, microprocessors, transistors, and others (frequency-to-digital converters, and transducers). Based on the end-user industry, the Sensor Market is segmented into aerospace & defense, automotive, biomedical & healthcare, industrial automation, building automation, consumer electronics, robotics, and others (education, agriculture, and transportation. Based on the region, the Sensor Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Sensor Market Analysis by Technology
Based on the technology, the market is segmented into MEMS, CMOS, MST, others. Among these, the MEMS technology segment is projected to hold the most lucrative share in the market. MEMS make use of small miniaturized electromechanical and mechanical systems made up of actuators, sensors, and microelectronics. This technology is expected to continue to dominate the market for smart sensors in the coming years and to be the fastest-growing technology during the forecast period, owing to the numerous benefits it provides, including fast operations, high reliability, improved accuracy, easy maintenance and replacement, and low energy and material consumption.
Global Sensor Market By Technology, 2021 (%)
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Global Sensor Market Regional Insights
In 2021, Asia-Pacific region is expected to have the biggest share of the market. With considerable demand in China, India, and Japan, Asia-Pacific is the main market for sensors in the automotive, infrastructure, consumer electronics, and pharmaceuticals industries. China's manufacturing sector has expanded dramatically, since it is the global production hub for a variety of industries, including semiconductor and automotive, which create household appliances, smartphones, computers, and peripheral devices. This aspect has offered enormous opportunity for the manufacture and sale of sensing devices. Growing government initiatives to expand the manufacturing sector in developing countries, rising foreign investments in industrial and manufacturing sectors, growing population, and the presence of several manufacturing facilities, low cost of smart sensors, and rapid technological advancements in emerging markets all contribute to the growth of the sensors market in this region.
Global Sensor Market By Geography, 2021 - 2028
- Largest
- Fastest
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Global Sensor Market Dynamics
Sensor Market Driver
- Increased demand for smart sensors in IoT-based devices and consumer electronics will drive worldwide sensor market growth. The Internet of Things has accelerated the evolution of sensors to new heights. IoT platforms supply intelligence and data through a range of sensors, allowing gadgets to work autonomously and the entire ecosystem to grow smarter. Devices share information and increase their effectiveness and functionality by combining a set of sensors and a communication network. IoT devices are employed throughout all industries and consumer markets, with the consumer segment accounting for a major share of all IoT-connected devices in 2021. All of these factors will drive the demand for smart sensors for IoT-enabled devices.
Sensor Market Restraint
- The high installation and maintenance costs of smart sensors are anticipated to stymie industry expansion. Smart sensor implementation has been limited due to the high cost of the sensors due to their expensive components and batteries. Because of the energy requirements of the sensors and wireless network, these batteries have a limited life duration and are used at a quicker pace. Finally, due to the energy requirements of the sensors and wireless link, as well as insufficient radio range, technologies developed for short-range applications are used, with limited battery life. The potential for combining sensing technologies with a network or signal processing intelligence is included in the implementation costs.
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Global Sensor Market Competitive Landscape
The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Sensor Market Top Players Company Profiles
- Honeywell International Inc.
- Siemens AG
- Texas Instruments Incorporated
- General Electric
- STMicroelectronics N.V.
- Analog Devices, Inc.
- Robert Bosch GmbH
- NXP Semiconductors N.V.
- Panasonic Corporation
- TE Connectivity Ltd.
- Infineon Technologies AG
- Emerson Electric Co.
- ABB Ltd.
- Omron Corporation
- Broadcom Inc.
- Continental AG
- First Sensor AG
- Sensata Technologies Holding N.V.
- Allegro MicroSystems, LLC
- Sony Corporation
Sensor Market Recent Developments
- In January 2022, Infineon (Germany) launched CO2 sensors, XENSIV PAS CO2 sensor, which provides an innovative solution for the growing demand for accurate indoor air quality.
- In April 2021, Siemens (Germany), at the Hannover Messe 2021, showcased Sitrans SCM IQ, a new Industrial Internet of Things (IIoT) solution for Smart Condition Monitoring. It allows possible accidents to be spotted and avoided at an early stage, lowering maintenance costs and downtimes while enhancing plant performance by up to 10%. The wireless, rugged Sitrans MS200 multisensors serve as the physical foundation for installation on machines such as pumps, gear units, compressors, and drive trains, where they collect vibration and temperature data.
Global Sensor Key Market Trends
- The arrival of Industry 4.0 and the Industrial Internet of Things (IIoT) is one of the key trends driving the market growth forward. With the advent of Industry 4.0, the use of control and automation technologies on the factory floor has become standard practice in order to boost productivity, efficiency, and profitability. The industry 4.0 era has compelled businesses to invest in digital technology such as sensors, connected equipment, and advanced software such as manufacturing execution systems (MES). The combination of the internet of things (IoT) and local computer power has turned ordinary sensors into smart sensors. This has increased sensor power, allowing them to execute complicated calculations on collected data within a sensor module. Thus, the advent of Industry 4.0 and IIoT is projected to fuel the industrial sensors market growth.
Global Sensor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global sensor market is segmented based on sensor type, technology, component, end-user industry, and region. Based on the sensor type, the temperature sensor & humidity sensor market segment and pressure sensor market segment is projected to hold the most substantial market share. Based on the technology, the MEMS segment of the market is projected to hold the most substantial market share. Based on the component, the analog-to-digital converters (ADC) segment of the market is projected to hold the most substantial market share. Based on the end-user industry, the automotive sensor market segment is projected to hold the most substantial market share.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 189 billion |
| Market size value in 2030 | USD 204.8 billion |
| Growth Rate | 8.1% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Sensor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Sensor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Sensor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Sensor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Sensor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Sensor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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