The sensor is a device that detects instant changes in physical environment. They are capable of detecting all key physical input such as temperature, speed, heat, motion, humidity, and others. It also detects changes as per the input and then converts it to the electrical signals. There are variations of sensors that are used over the optical sensor, biosensor, touch sensor, pressure sensor, temperature sensor, accelerometer & speed sensor and many others. The growing usage of sensors in the smartphones industry and substantial rise in demand from the automation industry has supported the growth of the sensor market.
Based on type, sensor market is
categorized as radar sensor, biosensor, touch sensor, optical sensor, image
sensor, pressure sensor, proximity & displacement sensor, temperature sensor,
level sensor, motion & position sensor, accelerometer & speed sensor,
humidity sensor, and other sensors. Based on component, market is categorized
as Analog to Digital Converters (ADCs), transceivers, Digital to Analog
Converters (DACs), microcontrollers, amplifiers and others. Based on
technology, market is categorized as CMOS, NEMS, MEMS, and others. In addition,
based on end users, market are categorized as electronics, industrial,
aerospace & defense, IT & telecommunication, healthcare, and others.
The sensor market is driven by rise
in demand for sensors in development of smart cities, followed by growth in
trend of Internet of Things (IoT), rise in advancement in automation sector,
increase in applications of radar in remote sensing and growth in advancement
in sensors and its increasing usage in smartphones, and other electronics
devices. However, incorporating the sensor in devices incurs extra value and
reduces life of device may impact the market. Moreover, surge in the automotive
sector and rise in adoption of wearable devices are key opportunities for
market.
Based on geography, the
North-American and European regions hold major share in global sensor market
owing to substantial buying power coupled with high standard of living amongst
the population in the regions. Whereas, the Asian-Pacific regions is estimated
to exhibit higher CAGR due to low manufacturing cost as well as rise in
availability of manpower at low cost and low shipment cost over the forecast
period. In near future, it is anticipated that the global sensor market will be
reached at rapid pace on account of increase in adoption of green energy
technologies during the forecast period.
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