Global Sensor Market 2023-2027

Global Sensor Market 2023-2027
The sensor market is forecasted to grow by USD 274.2 bn during 2022-2027, accelerating at a CAGR of 17.89% during the forecast period. The report on the sensor market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rise in demand for IoT technology-based devices, rise in demand for sensors in development of smart cities, and increase in usage of smartphones.

Technavio's sensor market is segmented as below:

By TechnologyCMOSMEMSNEMSOthersBy End-userElectronicsIT and telecomAutomotiveIndustrialOthersBy GeographyNorth AmericaAPACEuropeMiddle East and AfricaSouth AmericaThis study identifies the rise in adoption of wearable devices as one of the prime reasons driving the sensor market growth during the next few years. Also, implementation of automation in industrial sectors and rising applications in remote sensing will lead to sizable demand in the market.

The report on the sensor market covers the following areas:Sensor market sizingSensor market forecastSensor market industry analysisThe robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading sensor market vendors that include ABB Ltd., Amphenol Corp., ams OSRAM AG, Dwyer Instruments Inc., Honeywell International Inc., Johnson Controls International Plc, Microchip Technology Inc., NXP Semiconductors NV, OMRON Corp., Panasonic Holdings Corp., Qualcomm Inc., Robert Bosch GmbH, Rockwell Automation Inc., Siemens AG, Sony Group Corp., Spectris Plc, STMicroelectronics International N.V., TE Connectivity Ltd., Texas Instruments Inc., and Infineon Technologies AG. Also, the sensor market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.