According to a new market report published by Lucintel, the future of the global sensor market looks promising with opportunities in the industrial, healthcare, consumer electronics, automotive, and aerospace/defense industries. The global sensor market is expected to reach an estimated $188.4 billion by 2022 with a CAGR of 9.2% from 2017 to 2022. The major drivers for this market are the growth of internet of things (IoT), increasing need of automation in various industries, and miniaturization of sensors.
In this market, temperature, pressure, image, position, bio, flow, level, motion, radar, and chemical sensors are used in various end use industries such as industrial, healthcare, automotive, and more. Lucintel forecasts that chemical sensor is expected to remain the largest segment due to its increasing usage in industrial sector for the process control and industrial safety. Radar sensor is expected to witness the highest growth in the forecast period supported by increasing demand for advanced driving assistance system (ADAS) in the automotive industry.
Within the sensor market, industrial will remain the largest end use industry due to increased demand for automation and control in various industries, including oil and gas, chemical, and food and beverages. Lucintel predicts that the healthcare application is likely to experience the highest growth in the forecast period due to the increasing demand for Electrocardiography (ECG) sensors in cardiac treatment.
North America is expected to remain the largest region during the forecast period due to growth in smart city projects, wearable devices, and increasing demand for ADAS in automotive industry. Asia Pacific is expected to witness the highest growth over the forecast period due to the increasing demand for automotive and consumer electronics products in China and India.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing sensor content in automotive for safety and power efficiency and advancement in the gas sensor. Sony Corporation, STMicroelectronics, Analog Devices, Inc., ABB Ltd, Texas Instruments, Robert Bosch Gmbh, and Infineon Technologies AG are among the major sensor suppliers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global sensor market by sensor type, end use industry, and region, and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Sensor Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global sensor market by type, end use industry, and region as follows:
By Type [$B shipment analysis from 2011 to 2022]:
• Chemical Sensor
• Temperature Sensor
• Pressure Sensor
• Image Sensor
• Position Sensor
• Bio Sensor
• Flow Sensor
• Level Sensor
• Motion Sensor
• Radar Sensor
• Other Sensor
By End Use Industry [$B shipment analysis from 2011 to 2022]:
• Aerospace and Defense
By Region [$B shipment analysis for 2011 – 2022]:
• North America
– United States
– United Kingdom
• Asia Pacific
– South Korea
• The Rest of the World
This 165-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Telecommunication Report, Telecommunication Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Matrix.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global sensor market by sensor type (temperature sensor, pressure sensor, image sensor, position sensor, bio sensor, flow sensor, level sensor, motion sensor, radar sensor, chemical sensor, and other sensor), by end use industry (industrial, healthcare, electronics, automotive, aerospace and defense, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?