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 [$B shipment analysis from
2011 to 2022]:
- Industrial
- Healthcare
- Electronics
- Automotive
- Aerospace and Defense
- Others
By Region [$B
shipment analysis for 2011 – 2022]:
·
North America
–
United States
–
Canada
–
Mexico
·
Europe
–
United Kingdom
–
Germany
–
France
·
Asia Pacific
–
Japan
–
China
–
South Korea
–
India
- 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 helpdesk@lucintel.com. Lucintel offerings include Telecommunication
Report, Telecommunication
Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Matrix.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
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?
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