According to a new market report
published by Lucintel, the future of the global sensor market looks attractive
with opportunities in the industrial, healthcare, consumer electronics,
automotive, and aerospace/defense industries. The global sensor market is
expected to reach an estimated $238 billion by 2025 with a CAGR of 9.3% from 2020
to 2025. 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, various types of sensors, such as chemical sensor, temperature sensor, pressure sensor,
image sensor, position sensor, bio sensor, flow sensor, level sensor, motion
sensor, radar sensor are used. 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 sensors
in advanced driving assistance system (ADAS) applications.
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. 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.
Asia 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.
Emerging trends, which have a direct
impact on the dynamics of the sensor 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 providers.
Lucintel, a leading global
strategic consulting and market
research firm, has analyzed the global sensor market by product type,
end use industry, and region and has come up with a comprehensive research
report entitled “Growth Opportunities in the
Global Sensor Market 2020-2025: Trends, Forecast, and Opportunity Analysis”. The
Lucintel report serves as a catalyst for growth strategy as it provides
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast for the global sensor market by product type, end use
industry, and region as follows:
By Product Type [$B shipment analysis from 2014
to 2025]:
·
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 [$B shipment analysis from
2014 to 2025]:
·
Industrial
·
Healthcare
·
Electronics
·
Automotive
·
Aerospace and Defense
·
Others
By Region [$B shipment analysis for 2014 – 2025]:
·
North America
Ø
United States
Ø
Canada
Ø
Mexico
·
Europe
Ø
United Kingdom
Ø
Germany
Ø
France
·
Asia Pacific
Ø
China
Ø
Japan
Ø
South Korea
Ø
India
·
The Rest of the World
This 185-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 the following 11 key questions:
Q.1
What are some of the most promising, high-growth opportunities for the global sensor 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)?
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 the 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?
