The Global Sensor Market size is estimated to be USD 166.00 billion in 2019 and is predicted to reach USD 441.50 billion by 2030 with a CAGR of 9.3% from 2020-2030.
Sensor is a device which detects the sudden changes in the surroundings and environment and provides subsequent response. These sensors are used in the detection of various changes in various industries such as light, heat, moisture, motion, pressure and others. These sensors have wide application and helps in the monitoring purpose such as water level monitoring, traffic monitoring, animal tracking and many more.
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Top Companies: Hewlett Packard Enterprise (Hpe), Nxp Semiconductor, Sony Corporation, Qualcomm Technologies, Inc., Texas Instruments, Infineon Technologies Ag, Taiwan Semiconductor Manufacturing Company Limited, Microchip Technology Inc., Panasonic Corporation and others.
The global sensor market share is analyzed on the basis of type, technology, end user, and geography. On the basis of type, the market is segmented into radar sensor, biosensor, touch sensor, temperature sensor, motion & position sensor, image sensor, level sensor, accelerometer & speed sensor, optical sensor, proximity & displacement sensor, humidity sensor, pressure sensor and others. On the basis of technology, the market is divided into CMOS, NEMS, MEMS and Others. On the basis end user, the market is fragmented into electronics, it & telecom, industrial, automotive, aerospace & defense, healthcare, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
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North America is expected to hold the major market share during the forecast period owing to the increased demand of developed infrastructure and technological advancement with increased demand of automation is expected to fuel the sensor market. Moreover, wireless connectivity and chip integrated software are further expected to drive the market. Asia Pacific is expected to show rapid growth with constant growth in the market share over the forecast period. Furthermore, increased demand of smart phones and consumer electronics coupled with increased demand of smart cities are further expected to support the market in the near future.
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