Trends, opportunities and forecast in this market to 2022 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)
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.
Browse 79 Market Data Tables and 85 Figures spread through 165 Pages and in-depth TOC on "Global Sensor Market- Forecast to 2022" www.lucintel.com/global-sensor-market-2017-2022.aspx
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.
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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.
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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 [$B shipment analysis from 2011 to 2022]:
- Aerospace and Defense
By Region [$B shipment analysis for 2011 – 2022]:
- North America
- – United States
- – Canada
- – Mexico
- – United Kingdom
- – Germany
- – France
- Asia Pacific
- – Japan
- – China
- – South Korea
- – India
- The Rest of the World
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