Portland, Feb. 07, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global sensor market generated $138.96 billion in 2017 and is expected to reach $287 billion by 2025, registering a CAGR of 9.5% from 2018 to 2025. The report provides an extensive analysis of drivers & opportunities, changing market trends, competitive landscape, key segments, and market size & estimations.
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Advancement in automation sector, rise in trend of Internet of Things (IoT), and increase in demand for sensors in development of smart cities facilitate the growth in the market. In addition, advancement in sensors and its increasing usage in smartphones, and other electronics devices and emerging application of radar in remote sensing supplement the growth in the global sensor market. However, incorporating the sensor in devices incurs extra value and reduces life of device which impedes the growth of the market up to a certain extent. On the other hand, surge in the automotive sector and increase in adoption of wearable devices and innovative application in biomedical sector create new opportunities in the market.
The global sensor market is divided into type, technology, end user, and region. Based on technology, the market is segmented into CMOS, MEMS, NEMS, and others. The MEMS segment held the largest revenue share in 2017, accounting for more than two-fifths of the total market. On the other hand, CMOS segment is expected to register the largest CAGR of 12.6% from 2018-2025.
Based on end user, the market is divided into electronics, IT & telecommunication, industrial, aerospace & defense, healthcare, and others. The electronics segment accounted for more than three-fifths of the total market share in 2017 and will dominate in terms of revenue throughout the forecast period. However, the industrial segment is expected to register the highest growth rate, with a CAGR of 17.3% from 2018 to 2025.
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Based on regions, market across Asia-Pacific held the major share in terms of revenue in 2017, contributing nearly half of the total share. The region is expected to maintain its dominance throughout the forecast period. Moreover, the region would manifest the highest CAGR of 10.6% during 2018–2025.
Leading market players analyzed in the research include NXP semiconductors N.V., STMicroelectronics, Infineon Technologies AG, Atmel Corporation, Robert Bosch GmbH, Johnson Controls International PLC, Qualcomm Technologies, Inc, Texas instruments Inc, Honeywell International, and Sony Corporation.
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