Sensor Market Expected to Reach $345.77 Billion By 2028
“The sensor market in Asia-Pacific is expected to grow at the highest rate during the forecast period,
owing to enormous development of IT & telecom, electronics, and automotive industries. Moreover,
economically developed nations tend to witness high adoption of sensor technology in various
aerospace & defense and healthcare segments, which is projected to significantly contribute toward
growth of the market”
According to Asavari Patil,
Semiconductor and Electronics
⦁ Request Sample : https://www.alliedmarketresearch.com/request-sample/257
(We are providing report as per your research requirement, including the Latest Industry Insight's
Evolution, Potential and COVID-19 Impact Analysis)
KEY FINDINGS OF THE STUDY
•
•
•
•
The electronics segment is projected to be the major end user during the forecast period.
Asia-Pacific and North America collectively accounted for more than 70.0% of the sensor
market share in 2019.
Asia-Pacific is anticipated to witness highest growth rate during the forecast period.
U.S. was the major shareholder in the North America sensor market analysis, accounting for
approximately 65.0% share in 2019.
Major key players profiled cover in Report:
•
•
•
•
•
•
Taiwan Semiconductor Manufacturing Company Limited
Microchip Technology Inc.
Texas Instruments
Qualcomm Technologies, Inc.
Infineon Technologies AG
Panasonic Corporation
Market dynamics
Drivers
•
•
•
•
Growth in trend of Internet of Things (IoT)
Growth in demand for sensors in development of smart cities
Advancement in sensors and its increasing usage in smartphones, and other electronics
devices
Advancement in automation sector.
Restraints
• Incorporating the sensor in devices incurs extra value and reduces life of device
Opportunities
•
•
Rise in adoption of wearable devices and innovative application in biomedical sector
Surge in the automotive sector
⦁ Report Overview:
https://www.alliedmarketresearch.com/sensor-market
Analyst Review:
Sensors are devices that detect events or changes in environment and then provide corresponding
output. They sense physical input such as light, heat, motion, moisture, pressure, or any other entity
and respond by producing an output on a display or transmit the information in electronic form for
further processing.
Asia-Pacific occupies a considerable market share in the global sensor market. This is attributed to
increase in technological advancements and rise in automotive standards in developing countries
such as India, China, and Indonesia. China is gearing up its resources to develop core technologies
such as artificial intelligence and sensors, as a part of its broader vision to integrate AI into the
manufacturing sector. China is the world’s second-largest owner of inventive patents and
international scientific papers, with significant progress made in voice and image recognition. In 2018,
the ministry of China unveiled a three-year plan in December to boost applications of AI in various
industries. The country is focused on encouraging production and manufacturing of sensor
technologies through domestic companies that specialize in high-end sensors and AI chips.
About Us:
Allied Market Research is market research, consulting, and advisory firm of Allied Analytics LLP. Founded in
2013, the firm has been instrumental in offering high-quality syndicated and customized market research
reports, consulting services, and useful insights to leading market players, startups, investors, and
stakeholders. Driven by the aim to eliminate sub-standard data and become a successful partner for
organizations, Allied Market Research has been innovating continuously, expanding the product & service
portfolio, and implementing the client-first approach since its inception. With the clientele spanning more than
7,000 organizations that also include a majority of Fortune 500 companies, AMR has a proven track record of
helping and serving the global clientele and playing a major role in their success.
Contact Us:
David Correa 1209 Orange Street,
Corporation Trust Center, Wilmington, New Castle
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com