Global Sensors Market – Industry Trends and Forecast to 2030

Global sensors market, By Component (Microcontrollers, Digital-to-Analog Converter (DAC), Amplifiers, Analog-to-Digital Converter (ADC), Transceivers), Type (Radar Sensor, Optical Sensor, Biosensor, Touch Sensor, Image Sensor, Pressure Sensor, Temperature Sensor, Proximity and Displacement Sensor, Level Sensor, Motion and Position Sensor, Humidity Sensor, Accelerometer and Speed Sensor, and Others), Technology (CMOS, MEMS, NEMS, and Others), End User (Electronics, IT and Telecom, Industrial, Automotive, Aerospace and Defense, Healthcare, and Others) - Industry Trends and Forecast to 2030. 

Sensors Market Analysis and Size

Smart cities use sensors to make them more efficient, comfortable, safe, and interactive. Furthermore, a large number of companies are engaging in smart city cooperation and partnerships. Sensors are used in practically every industry vertical. However, they are most commonly found in consumer electronics, followed by automotive, IT, and telecom. Sensors such as the accelerometer, gyroscope, ambient light sensor, proximity sensor, and temperature detectors are built into smartphones to keep track of characteristics and give a centralized system for autonomous control.

The global sensors market was valued at USD 199.50 billion in 2022 and is expected to reach USD 409.10 billion by 2030, registering a CAGR of 9.4% during the forecast period of 2023-2030. “Microcontrollers” are dominating the component segment for the sensors market. Microcontrollers are highly compact and cost-effective, making them ideal for various applications where space and cost constraints are critical. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Sensors Market Scope and Segmentation

Market Definition

Sensors detect events or changes in the environment and produce an output in response. They detect physical input such as light, heat, motion, wetness, pressure, or any other entity and respond by displaying or transmitting the information in computer form for further processing.

Global Sensors Market Dynamics

Drivers

• Increase in the requirement for sensor-rich applications

Sensor advancements that consistently provide precise and accurate measurements have been crucial in increasing demand for novel applications, which will further accelerate the market's growth.

• Rise in the usage of IoT solutions

Industry 4.0 and the Industrial internet of things (IoT) have increased demand for diagnostics and mobile-based access, which will propel the industry forward.

• Increase in the demand miniaturized consumer devices

The sensors market is being driven by industrial automation and the desire for smaller consumer gadgets, such as wearables and IoT-connected devices, among other things, across geographies, which is expected to drive the market growth.

Opportunity

• Growing demand for IoT and connected devices

One of the key opportunity factors for the global sensors market is the increasing demand for Internet of Things (IoT) and connected devices. IoT applications rely heavily on sensors to gather data from the physical world and enable connectivity between devices and systems. As the adoption of IoT devices continues to expand across various industries, the demand for sensors is expected to rise significantly. Sensors are critical in enabling real-time monitoring, data collection, and automation in IoT applications, creating ample opportunities for sensor manufacturers and suppliers.

Restraint/Challenge

• High cost of sensor technology

One of the major restraining factors for the global sensors market is the high cost associated with sensor technology. Developing and manufacturing advanced sensors often involves complex processes, sophisticated materials, and advanced technologies, which can drive up production costs. This high cost can limit the affordability and accessibility of sensors, particularly for price-sensitive industries or emerging markets. The cost factor can be a barrier to adoption, hindering the widespread implementation of sensors in various applications.

This global sensors market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Sensors Market  contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Development

• In November 2020, Qualcomm Technologies and STMicroelectronics collaborated on unique sensor solutions for next-generation mobile phones, connected PCs, the Internet of Things, and portable applications

Global Sensors Market Scope

The global sensors market is segmented on the basis of component, type, technology, and end user. The growth amongst these segments will help you ze meagre growth segments in the industries and provide the users with a valuable market overview and insights to help them make strategic decisions for identifying core market applications.

Component

• Microcontrollers
• Digital-to-Analog Converter (DAC)
• Amplifiers, Analog-to-Digital Converter (ADC)
• Transceivers

Type

• Radar Sensor
• Optical Sensor
• Biosensor
• Touch Sensor
• Image Sensor
• Pressure Sensor
• Temperature Sensor
• Proximity and Displacement Sensor
• Level Sensor
• Motion and Position Sensor
• Humidity Sensor
• Accelerometer and Speed Sensor
• Others

Technology

• CMOS
• MEMS
• NEMS
• Others

End User

• Electronics
• IT and Telecom
• Industrial
• Automotive
• Aerospace and Defense
• Healthcare
• Others

Global Sensors Market Regional Analysis/Insights

The sensors market is analyzed and market size insights and trends are provided by country, component, type, technology, and end-user, as referenced above.

The global sensors Market is analyzed and market size, volume information is provided by country, component, type, technology, and end user as referenced above.

The countries covered in the sensors market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).

Asia-Pacific is expected to dominate the sensors market and pose significant growth due to the low shipment cost. Furthermore, the decrease in manufacturing costs will further boost the growth of the sensors market in the region during the forecast period.

The country section of the report also provides individual market-impacting factors and domestic regulation changes that impact the market's current and future trends. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of Europe brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Semiconductor Infrastructure Growth Installed Base and New Technology Penetration

The global sensors market also provides you with a detailed market analysis for every country’s growth in healthcare expenditure for capital equipment, the installed base of different kinds of products for the global sensors market, the impact of technology using lifeline curves, and changes in healthcare regulatory scenarios and their impact on the sensors market. The data is available for the historic period 2015-2020.

Competitive Landscape and Global Sensors Market Share Analysis

The global sensors market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global sensors market.

Some of the major players operating in the global sensors market are:

• Honeywell International Inc. (U.S.)
• DENSO CORPORATION (Japan)
• OMNIVISION (U.S.)
• Alpha MOS (France)
• AMETEK.Inc. (U.S.)
• AlphaSense Inc. (U.S.)
• BorgWarner Inc. (U.S.)
• Figaro Engineering Inc. (Japan)
• Emerson Electric Co. (U.S.)
• General Electric Company (U.S.)
• Industrial Scientific (U.S.)
• SAMSUNG (South Korea)
• Teledyne Monitor Labs (TML) (U.S.)
• STMicroelectronics (Switzerland)
• NXP Semiconductors (Netherlands)
• Infineon Technologies AG (Germany)
• Qualcomm Technologies, Inc. (U.S.)
• Microchip Technology Inc. (U.S.)