According to the recent study the sensor market is projected to reach an estimated $323 billion by 2030 at a CAGR of 10.6% from 2023 to 2030. Growth in this market is primarily driven by growth of internet of things (IoT), increasing need of automation in various industries, and miniaturization of sensors.
Browse 88 figures/charts
and 79 tables in this 186-page report to understand trends, opportunities and
forecast in sensor market by product type (chemical sensor, temperature sensor,
pressure sensor, image sensor, position sensor, bio sensor, flow sensor, level
sensor, motion sensor, radar sensor and others), by end use industry
(Industrial, healthcare, electronics, automotive, aerospace & defense, and
others), and by region (North America, Europe, Asia Pacific, and the Rest of
the World).
Lucintel forecast that
radar sensor is expected to witness the highest growth in the forecast period
supported by increasing demand for sensors in advanced driving assistance
system (ADAS) applications.
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 &
beverages. Healthcare industry is expected to witness the highest growth over
the forecast period due to the increasing demand for Electrocardiography (ECG)
sensors in cardiac treatment.
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clicking on sensor marketAsia Pacific 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.
Sony Corporation,
STMicroelectronics, Analog Devices, Inc., ABB Ltd, NXP Semiconductors, Sensata
Technologies, Texas Instruments, Robert Bosch Gmbh, and Infineon Technologies
AG are among the major sensor providers.
The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
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.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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