Sensor Market size to grow by USD 274.2 billion from 2022 to 2027 | Market is driven by the rise in demand for IoT technology-based devices – Technavio

NEW YORK, Sept. 25, 2023 /PRNewswire/ — The “Sensor Market by Technology (CMOS, MEMS, NEMS, and Others), End-user (Electronics, IT and telecom, Automotive, Industrial, and Others), and Geography (North America, APAC, Europe, Middle East and Africa, and South America) – Forecast and Analysis 2023-2027” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the sensor market between 2022 and 2027 is USD 274.2 billion. The rise in demand for IoT technology-based devices is the major factor notably driving the growth of the market. IoT technology facilitates the connection of multiple smart devices to streamline their function and share data between them. Multiple smart devices, such as smartphones, tablets, and wearables collect essential data from the device, which is then used to enhance the user experience. In addition, the rising requirement for data analytics and analytics integration is likely to drive the use of IoT-based devices. However, the Internet of Things plays an integral role in enhancing process automation and enhancing operational efficiency in various industries. IoT is also enhancing its skills in cold chain monitoring for temperature-sensitive food and pharmaceutical products. Therefore, the rising use of IoT-based devices is anticipated to fuel the growth of the global sensors market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge
Increasing usage of network-embedded systems is a significant challenge that limits the growth of the market. Advancements in digital telecommunications technology and the integration of multiple smart devices have led to the creation of integrated networks. Today’s embedded systems deliver a combination of wired and wireless communication alternatives for integrating network functionality into devices. However, network-integrated systems are currently used in a broad variety of smart gadgets and electronic products, and they are connected with other smart devices to provide valuable communication and measurement knowledge information. through wireless sensor networks. In contrast, embedding sensors into a gadget expands the cost and shortens the life of the device. Therefore, such factors are anticipated to hinder the growth of the global sensors market during the forecast period. 
Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now
The sensor market has been segmented by technology (CMOS, MEMS, NEMS, and Others), end-user (Electronics, IT and telecom, Automotive, Industrial, and Others), and geography (North America, APAC, Europe, Middle East and Africa, and South America). 
The market share growth by the CMOS segment will be significant during the forecast period. Complementary metal oxide semiconductors (CMOS) are known for their small form factor and integration capabilities. The growing use of complementary metal oxide semiconductor sensors in all smart devices is an important driver for this segment. The expansion of IoT devices and applications needs a variety of sensors, including CMOS sensors, to facilitate data collection, monitoring, and control in a variety of environments. The growing popularity of virtual reality (VR) and augmented reality (AR) technologies depend on CMOS sensors to track user movements and interactions. Thus, continued improvements in semiconductor manufacturing, leading to higher resolution, enhanced sensitivity, and improved performance of CMOS sensors, are anticipated to drive the growth of the segment during the forecast period.North America is estimated to account for 39% of the global market during the forecast period.View the Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the sensor market:
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
Related Reports:
The temperature sensor market size is estimated to grow at a CAGR of 5.41% between 2022 and 2027. The market size is forecast to increase by USD 1,963.5 million.
The water quality sensor market size is estimated to grow at a CAGR of 6.72% between 2023 and 2027. The market size is forecast to increase by USD 1,581.85 million.
Sensor Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 17.89%
Market growth 2023-2027
USD 274.2 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
16.25
Regional analysis
North America, APAC, Europe, Middle East and Africa, and South America
Performing market contribution
North America at 39%
Key countries
US, China, Japan, Germany, and France
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
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
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. 
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Technology 
Market Segmentation by End-user
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@technavio.comWebsite: www.technavio.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/sensor-market-size-to-grow-by-usd-274-2-billion-from-2022-to-2027–market-is-driven-by-the-rise-in-demand-for-iot-technology-based-devices—technavio-301936314.html
SOURCE Technavio 

NEW YORK, Sept. 25, 2023 /PRNewswire/ — The “Sensor Market by Technology (CMOS, MEMS, NEMS, and Others), End-user (Electronics, IT and telecom, Automotive, Industrial, and Others), and Geography (North America, APAC, Europe, Middle East and Africa, and South America) – Forecast and Analysis 2023-2027″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the sensor market between 2022 and 2027 is USD 274.2 billion. The rise in demand for IoT technology-based devices is the major factor notably driving the growth of the market. IoT technology facilitates the connection of multiple smart devices to streamline their function and share data between them. Multiple smart devices, such as smartphones, tablets, and wearables collect essential data from the device, which is then used to enhance the user experience. In addition, the rising requirement for data analytics and analytics integration is likely to drive the use of IoT-based devices. However, the Internet of Things plays an integral role in enhancing process automation and enhancing operational efficiency in various industries. IoT is also enhancing its skills in cold chain monitoring for temperature-sensitive food and pharmaceutical products. Therefore, the rising use of IoT-based devices is anticipated to fuel the growth of the global sensors market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge

Increasing usage of network-embedded systems is a significant challenge that limits the growth of the market. Advancements in digital telecommunications technology and the integration of multiple smart devices have led to the creation of integrated networks. Today’s embedded systems deliver a combination of wired and wireless communication alternatives for integrating network functionality into devices. However, network-integrated systems are currently used in a broad variety of smart gadgets and electronic products, and they are connected with other smart devices to provide valuable communication and measurement knowledge information. through wireless sensor networks. In contrast, embedding sensors into a gadget expands the cost and shortens the life of the device. Therefore, such factors are anticipated to hinder the growth of the global sensors market during the forecast period. 

Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now

The sensor market has been segmented by technology (CMOS, MEMS, NEMS, and Others), end-user (Electronics, IT and telecom, Automotive, Industrial, and Others), and geography (North America, APAC, Europe, Middle East and Africa, and South America). 

The market share growth by the CMOS segment will be significant during the forecast period. Complementary metal oxide semiconductors (CMOS) are known for their small form factor and integration capabilities. The growing use of complementary metal oxide semiconductor sensors in all smart devices is an important driver for this segment. The expansion of IoT devices and applications needs a variety of sensors, including CMOS sensors, to facilitate data collection, monitoring, and control in a variety of environments. The growing popularity of virtual reality (VR) and augmented reality (AR) technologies depend on CMOS sensors to track user movements and interactions. Thus, continued improvements in semiconductor manufacturing, leading to higher resolution, enhanced sensitivity, and improved performance of CMOS sensors, are anticipated to drive the growth of the segment during the forecast period.North America is estimated to account for 39% of the global market during the forecast period.

View the Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the sensor market:

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

Related Reports:

The temperature sensor market size is estimated to grow at a CAGR of 5.41% between 2022 and 2027. The market size is forecast to increase by USD 1,963.5 million.

The water quality sensor market size is estimated to grow at a CAGR of 6.72% between 2023 and 2027. The market size is forecast to increase by USD 1,581.85 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Technology 

Market Segmentation by End-user

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/sensor-market-size-to-grow-by-usd-274-2-billion-from-2022-to-2027–market-is-driven-by-the-rise-in-demand-for-iot-technology-based-devices—technavio-301936314.html

SOURCE Technavio