Product ID: SQMIG45K2072
Report ID:
SQMIG45K2072 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
103 |
Figures:
76
In 2023, 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.
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REQUEST FREE CUSTOMIZATIONSensor Market was valued at USD 204.31 billion in 2019 and is poised to grow from USD 220.86 billion in 2023 to USD 411.83 billion by 2031, growing at a CAGR of 8.10% in the forecast period (2024-2031).
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Product ID: SQMIG45K2072