Sensors Market (By Type: Radar Sensor, Optical Sensor, Biosensor, Touch Sensor, Image Sensor, Pressure Sensor, Temperature Sensor, Proximity & Displacement Sensor, Level Sensor, Motion & Position Sensor, Humidity Sensor, Accelerometer & Speed Sensor, Others; By Technology: CMOS, MEMS, NEMS, Others; By End Use: Electronics, IT & telecom, Industrial, Automotive, Aerospace & Defense, Healthcare, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

Category : Semiconductor and Electronics | Published at : June-2020 | Delivery Format : PDF | Status: Published | Pages : 190

The global sensors market is anticipated to grow at a CAGR of around 10.1% during the forecast period 2020 to 2027 and to reach around US$ 355.8 Bn by 2027.

Market Dynamics

Rapid technological advancements in electronics sector and wide applicability of sensor technology in various end use verticals such as medical, automotive, consumer electronics, etc. are major factor expected to drive the growth of global market. Automotive sector is witnessing rapid technological advancements across the globe. With the developing standardized adoption of sensors from manufactures for scanning surfaces to measuring the position of parts, manufactures are also adopting various sensors such as mass airflow sensor, engine speed sensor, oxygen sensor, etc.

Major players are focused on introduction of innovative products in order to attract new customers; this is another important factor expected to further augment the growth of target market.

In 2020, Honeywell launched new, high-performance, value-priced line of Media Isolated stainless steel pressure sensors (MIP) for the industrial and HVAC market. This is expected to increase the company product portfolio and increase the customer base.
In 2019, Honeywell launched new Industrial Internet of Things (IIoT)-enabled Experion® MX Q6088 Compact Scanner specifically designed for paper producers, flat sheet manufacturers and original equipment manufacturer (OEM) machine vendors.

In addition, strategic merger and acquisition activities by major players in order to increase the revenue share are factors expected to support the growth of target market.

In 2019, Honeywell acquired Rebellion Photonics, a leader in intelligent, automated, visual gas monitoring solution. This acquisition will help the company to expand its customer base and increase the profit.

However, factor such as extra cost in incorporation of sensors and high cost associated to installation and maintenance of smart sensors are expected to hamper the growth of global sensors market. In addition, high complexity in manufacturing is another factor expected to challenge the growth of target market.

High investment by major players for R&D activities and product innovation are factors expected to further create new opportunities for players operating in the target market over the forecast period. In addition, player’s inclination towards emerging economies in order to track the untapped market is another factor expected to further support the growth of target market.

Sensors Market Segment Analysis, 2019

The global sensors market is segmented in to type, technology, and end user. The product segment is further bifurcated in to radar sensor, optical sensor, biosensor, touch sensor, image sensor, pressure sensor, temperature sensor, proximity & displacement sensor, level sensor, motion & position sensor, humidity sensor, accelerometer & speed sensor, and others. Among the end use the automotive segment is expected to account for significant revenue share in the global market.

Segment Analysis by Region

The market in North America is expected to account for significant revenue share owing to rising demand from medical device manufactures. In addition, presence of major players operating in the country and innovative product offerings are among other factor expected to further support the growth of target market in this region.

Asia Pacific is expected to witness faster growth in the near future owing to rapid industrialization in emerging economies. In addition, approach towards industrial automation and adoption of mass airflow sensor, engine speed sensor from automotive manufactures are among other factors expected to further support the growth of target market.

Competitive Landscape

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Market	Global Sensors Market
Analysis Period	2016 – 2027
Base Year	2019
Forecast Data	2020 – 2027
Market Stratification	Type, Technology, End User and Geography
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

The market research study on “Sensors Market (Type: Radar Sensor, Optical Sensor, Biosensor, Touch Sensor, Image Sensor, Pressure Sensor, Temperature Sensor, Proximity & Displacement Sensor, Level Sensor, Motion & Position Sensor, Humidity Sensor, Accelerometer & Speed Sensor, and Others; Technology: CMOS, MEMS, NEMS, and Others; End Use: Electronics, IT & telecom, Industrial, Automotive, Aerospace & Defense, Healthcare, and Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global sensors market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global sensors market segment by type, technology, end user and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global sensors market size and segment markets by type, technology, end user and geography along with the information on companies operating in the market. The sensors market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Honeywell International Inc., Robert Bosch GmbH, ROHM Semiconductor, Infineon Technologies AG, Texas Instruments Inc. and Microchip Technology Inc.

Market Segmentation

Market By Type