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The Sensor Revolution: A Market Overview
A sensor is a device that can detect and respond to certain types of input from the physical environment. Motion, heat, pressure, light, moisture, or any other environmental phenomena could be the specific input. In an increasingly connected and intelligent world, sensor technologies serve as the eyes, ears, and nervous system of modern innovation. From smartphones and smart homes to autonomous vehicles and Industry 4.0, sensors are at the heart of everything we touch and interact with.
The global sensors market has emerged as a cornerstone of modern technology, with its size valued at USD 241.06 billion in 2024 and projected to reach USD 258.47 billion in 2025. By 2032, the market is expected to surge to USD 457.26 billion, expanding at a CAGR of 8.5%, and is forecast to approach USD 480 billion by 2035, fueled by breakthroughs in artificial intelligence (AI), Internet of Things (IoT), smart infrastructure, and quantum sensing technologies.
This growth is being driven by several converging factors. The widespread adoption of autonomous mobility platforms and rapid industrial automation is creating new sensor-intensive applications, while the proliferation of connected healthcare devices is opening vast opportunities in patient monitoring and diagnostics. The integration of AI with sensor hardware is particularly transformative, enabling predictive maintenance systems that can reduce unplanned factory downtime by up to 50%.
In terms of market composition, temperature sensors currently dominate with a 23% share, while chemical sensors are projected to experience the fastest expansion at a CAGR of 14.8%, reflecting growing demand for environmental monitoring, industrial safety, and medical diagnostics.
Regional dynamics further shape the market landscape. Asia-Pacific leads in demand, powered by China’s smart manufacturing initiatives, Japan’s automotive innovation, and established semiconductor supply chains. Meanwhile, the Middle East & Africa is emerging as the fastest-growing region, driven by large-scale digital infrastructure projects and clean energy deployments.
The competitive landscape remains highly fragmented, yet joint ventures, strategic partnerships, and targeted acquisitions are accelerating market consolidation, particularly around multimodal and AI-enabled sensor solutions, signaling a shift toward more integrated and intelligent product portfolios.
The Expanding Role of Sensors in a Smart Ecosystem
Sensors have transcended their traditional roles as passive measurement tools; today, they are integral to enabling intelligent, responsive, and connected ecosystems across industries. From smart cities and autonomous vehicles to personalized healthcare, sensors are increasingly central to real-time decision-making and system automation.
Sensors are no longer just passive data collectors—they have become active agents in digital decision-making. Modern sensors are embedded with signal processing capabilities, enabling real-time insights and autonomous responses. In smart cities, sensors regulate traffic lights based on congestion patterns; in healthcare, they monitor patient vitals continuously; and in agriculture, they optimize irrigation by measuring soil moisture and climate conditions.
This transition from simple input devices to intelligent, connected nodes has fueled a paradigm shift. Sensor technologies now play a critical role in enabling artificial intelligence, machine learning, and predictive analytics—fundamentally reshaping how industries operate.
Key Technological Trends Redefining the Landscape
As demand surges across sectors, the global sensor market is undergoing rapid transformation—driven by miniaturization, AI integration, edge computing, and rising applications in healthcare, energy, and environmental monitoring.
Increasing Adoption of Multi-Sensor Fusion in Autonomous Mobility
The rise of autonomous mobility is accelerating the integration of LiDAR, radar, and camera data into unified perception stacks. This multi-sensor fusion approach provides redundancy and situational awareness that meet the EU General Safety Regulation 2019/2144, which mandates advanced driver assistance systems (ADAS) in all new vehicles. Tesla’s Full Self-Driving (FSD) computer already exemplifies this trend, processing inputs from eight cameras, twelve ultrasonic sensors, and radar at 144 trillion operations per second (TOPS)—a benchmark for real-time automotive perception. In response, Tier-1 suppliers are introducing pre-calibrated perception suites designed to lower integration costs, reduce bill-of-materials, and accelerate time-to-market for automakers developing next-generation autonomous platforms.
Proliferation of Smart-Factory Retrofits in Brownfield Asian Plants
In Asia, legacy manufacturing facilities are rapidly transforming through digital retrofits rather than full reconstruction. China’s 14th Five-Year Plan alone earmarks USD 1.4 trillion for digital infrastructure, much of it focused on upgrading existing industrial assets. By deploying sensor-rich networks—including vibration, temperature, and flow devices—manufacturers are enabling predictive maintenance and achieving 20–30% lifecycle extensions on legacy machinery. These connected devices feed cloud-based analytics platforms that minimize unplanned downtime, improve energy efficiency, and raise overall equipment effectiveness (OEE), creating a new paradigm of smart productivity across brownfield sites.
Shift Toward Condition-Based Asset Monitoring in Offshore Energy
In offshore energy operations, predictive reliability has become a financial and safety imperative. North Sea operators report that unplanned production halts can cost between USD 1–5 million per day, underscoring the value of condition-based monitoring systems. Advanced vibration and pressure sensor arrays are now capable of detecting bearing wear and component degradation up to a year before failure. With satellite backhaul connectivity, these data streams are transmitted from remote rigs to onshore control centers in real time, supporting model-based predictive maintenance that reduces costly interventions while significantly improving operational safety and uptime.
Mandatory Inclusion of ADAS Sensing Suites in Next-Generation EU Vehicles
Regulatory momentum is also reshaping the automotive sensing landscape. Under EU Regulation 2019/2144, every new vehicle model sold from 2026 onward must feature automatic emergency braking, lane-departure alerts, and driver-monitoring systems as standard. This mandate effectively establishes a minimum sensor configuration—including vision, radar, and ultrasonic hardware—across all vehicle segments, expanding the sensors market beyond premium classes. In anticipation, leading suppliers such as Bosch are embedding AI co-processors directly into MEMS devices, enabling compact, power-efficient designs that meet functional-safety and reliability standards while supporting the broader rollout of intelligent driver assistance technologies.
Emerging Innovations to Watch
Flexible and stretchable sensors, made from advanced materials such as graphene and organic polymers, are opening entirely new possibilities in wearable devices and robotics. These sensors can be woven into textiles to continuously monitor health parameters, or embedded in robotic limbs to provide sensitive tactile feedback, enhancing both human health monitoring and human-machine interaction. Environmental monitoring is another domain seeing rapid sensor innovation. Air quality, humidity, and soil moisture sensors are increasingly deployed to support climate resilience and sustainable agriculture. In cities, gas sensors track harmful pollutants in real time, while precision agricultural sensors optimize irrigation and crop yields, conserving resources and boosting efficiency.
Neuromorphic sensors are emerging as a cutting-edge frontier in sensor technology. Inspired by the human brain, these devices process complex sensory data efficiently, supporting real-time decision-making with low power consumption. Such sensors are particularly suited for edge AI applications in autonomous drones, robots, and surveillance systems, where bandwidth or computing resources are limited. By mimicking human sensory processing, neuromorphic sensors combine adaptability with rapid inference, enabling intelligent systems to operate independently and respond dynamically to changing environments.
Sustainability-Driven Innovations
Sustainability is now defining the next generation of sensor technologies. Energy-harvesting sensors that draw power from ambient light, thermal gradients, or motion are being widely deployed in smart infrastructure to eliminate the need for battery replacements. These self-powered systems are particularly valuable in remote or hard-to-reach environments where maintenance is costly or impractical. In smart buildings, such sensors continuously optimize lighting, temperature, and energy consumption, contributing to global efforts to reduce carbon emissions. Examples include piezoelectric floor tiles that convert foot traffic into usable energy and solar-powered or light-driven sensors integrated into green infrastructure projects. Together, these innovations are making energy-efficient monitoring both practical and scalable.
Environmental and Energy Sensors
Rising climate concerns and growing environmental, social, and governance (ESG) commitments are driving rapid adoption of environmental and energy-related sensors. Air quality monitors, CO₂ sensors, and water analyzers now form the backbone of urban sustainability strategies. Smart cities deploy dense sensor networks to track pollution levels and issue real-time alerts to improve air quality management. In agriculture, soil moisture and nutrient sensors are enabling precision irrigation, optimizing crop yields, and conserving water resources. Simultaneously, energy management systems rely on sensors to monitor grid stability, track renewable energy generation, and improve the efficiency of smart home devices. These systems collectively support a more sustainable, data-driven approach to energy and environmental stewardship.
Sectoral Drivers of Sensor Demand
The global demand for sensors is being propelled by advancements across multiple sectors—automotive, healthcare, industrial IoT, and consumer electronics.
In the automotive sector, sensors have become indispensable to both electric and autonomous vehicle technologies. The market, valued at $40.2 billion in 2024, is expected to surge to $88.2 billion by 2034. LiDAR and radar systems enhance driver assistance and safety, while temperature and thermal sensors ensure electric vehicle batteries operate within safe limits. As EV adoption and autonomous systems expand, sensor technology remains at the heart of vehicular intelligence and safety innovation.
In healthcare, wearable biosensors are transforming diagnostics and patient monitoring. Devices like continuous glucose monitors (CGMs) and ECG patches enable real-time tracking of vital signs, revolutionizing chronic disease management and preventive care. The medical sensor segment, growing at a 10% compound annual rate, is being further strengthened by artificial intelligence, which enhances accuracy in diagnostics and medical imaging. The fusion of AI and biosensing is paving the way for faster, more precise, and more accessible healthcare solutions.
In industrial IoT (IIoT), predictive maintenance sensors have reduced equipment downtime by as much as 15%. These systems use vibration, thermal, and acoustic monitoring to detect faults before they escalate, improving operational reliability and reducing costs. Additionally, smart personal protective equipment (PPE) equipped with gas and motion detectors is significantly improving worker safety in high-risk industries such as mining, oil extraction, and chemical manufacturing.
Finally, consumer electronics continue to represent a major share of the global sensor market. CMOS image sensors alone account for nearly 19% of total demand, powering smartphone features such as facial recognition, gesture control, and augmented reality. As biometric and environmental sensors become more integrated into consumer devices, users are gaining increasingly personalized and immersive experiences. This convergence of technology and sensing is driving the evolution of everyday electronics into intelligent, context-aware systems.
Challenges and Barriers
Despite their transformative potential, sensor technologies face several hurdles. High initial costs and lengthy return-on-investment periods often deter small and medium-sized enterprises (SMEs) from adopting industrial IoT solutions. Deploying predictive maintenance systems, for example, requires significant investments in sensor hardware, analytics infrastructure, and training.
Data privacy and cybersecurity are growing concerns as the number of IoT-connected devices is expected to reach 75 billion by 2025. Ensuring secure data transmission and storage is critical. Emerging solutions include blockchain technology and homomorphic encryption to enable encrypted, tamper-proof exchanges of sensor data.
Interoperability among different devices and standards also remains a barrier to full integration across IoT ecosystems.
Supply chain vulnerabilities, exacerbated by geopolitical conflicts such as U.S.-China trade tensions, continue to disrupt semiconductor production. In response, many manufacturers are diversifying their production bases to Southeast Asia and exploring alternative materials like gallium nitride to mitigate dependency and ensure continuity.
Global Market Dynamics
North America currently leads the global sensor market with a 45.2% share, thanks to innovation powerhouses like Texas Instruments and Honeywell. Asia-Pacific is the fastest-growing region, holding 36.4% of the market.
Europe, meanwhile, is championing sustainable sensor development. The European Union’s Critical Raw Materials Act is pushing manufacturers to adopt greener, more resource-efficient designs. These policies are positioning the continent as a leader in environmentally conscious sensor technologies.
North America
North America commands the largest share of the global sensor market, holding 45.2%, fueled by its dominance in advanced manufacturing, defense, and healthcare technologies. Innovation is spearheaded by tech giants such as Honeywell, Texas Instruments, and Analog Devices, whose cutting-edge sensor solutions are integral to autonomous vehicles, precision medical diagnostics, and military-grade systems.
The region is especially strong in automotive and medical sensor technologies, benefiting from well-developed regulatory and research ecosystems. The region’s robust R&D infrastructure and regulatory support continue to solidify its leadership in smart sensing applications.
Asia-Pacific
Asia Pacific held a major share in the market in 2024. The region is a major electronics invention hub, with countries such as Japan and China at the forefront of technologically advanced manufacturing and innovation excellence. In addition, the promise of smart cities in Asia’s technology sector is attracting interest.
According to a recent report from Equinix, “Shifting Asia,” UBS estimates that the Asia Pacific region will account for around 40% of global market growth in smart cities projects by 2025, amounting to USD 800 billion. To sustain the growth of the digital market in the Asia Pacific region, rapid urbanization is driving growth in IT build-up and interconnection bandwidth.
The Asia-Pacific region is the fastest-growing sensor market, currently accounting for 36.4% of global share. National strategies like China’s “Made in China 2025” and India’s “Smart Cities Mission” are fueling widespread deployment of sensors in urban infrastructure, transportation, and energy systems. Chinese firms such as OmniVision are rapidly closing the innovation gap with established global leaders like Sony in image sensing.
The region is also a manufacturing powerhouse, home to some of the world’s top sensor producers including Sony (Japan), Samsung (South Korea), and Omnivision (China). With increasing investment in semiconductors and edge AI, Asia-Pacific is poised to overtake other regions in volume and innovation.
🇪🇺 Europe
Europe is charting a sensor future rooted in sustainability and regulatory compliance. The EU’s Critical Raw Materials Act is prompting sensor manufacturers to adopt eco-friendly materials and circular economy practices. European firms like Bosch and STMicroelectronics are leading advancements in automotive sensing and industrial automation, aligning innovation with stringent environmental and safety standards. Europe’s strategic focus on clean technologies and green mobility is shaping the next generation of responsible sensing solutions.
Major players such as Bosch, STMicroelectronics, TE Connectivity, Honeywell, Analog Devices, and Texas Instruments are investing heavily in R&D and strategic acquisitions to consolidate their market positions. Meanwhile, a wave of startups is introducing niche innovations in flexible, printable, and graphene-based sensors.
Key Industry Players: Accelerating Growth Through Innovation and Strategy
The global sensor market is experiencing rapid evolution, fueled by strategic investments in innovation and expansion by leading industry players. These companies are increasingly adopting a combination of product development, strategic partnerships, and mergers and acquisitions (M&A) to strengthen their competitive edge and global footprint. A particularly notable trend is the acquisition of smaller, specialized firms, which allows large corporations to tap into niche capabilities, access local markets, and accelerate time-to-market for next-generation sensor technologies. This ecosystem approach—blending cutting-edge hardware, integrated software, and edge intelligence—is becoming essential to meet the growing demands of sectors like automotive, healthcare, energy, and smart infrastructure.
Top Companies Shaping the Sensor Landscape
Among the most influential organizations in the global sensor market are Siemens AG, a German industrial giant with a strong focus on smart grid and energy systems, and NXP Semiconductors from the Netherlands, known for its innovations in automotive and industrial sensing. Infineon Technologies AG, also based in Germany, plays a major role in power and automotive sensors. In the United States, Texas Instruments and Analog Devices Inc. are key players driving breakthroughs in signal processing and high-performance sensing solutions.
European-based STMicroelectronics, headquartered in Switzerland, is a leader in MEMS sensors and integrated systems. Bosch Sensortec GmbH, part of Germany’s Bosch Group, offers a wide range of sensors used in consumer electronics and industrial automation. Microchip Technology Inc., Honeywell International Inc., and Japan’s OMRON Corporation also contribute significantly to the market, especially in areas like safety monitoring, building automation, and healthcare.
Recent Strategic Developments
In January 2024, Texas Instruments launched the A5442WR 77GHz mmWave radar sensors, tailored for satellite radar architectures in advanced driver-assistance systems (ADAS). These sensors aim to enhance vehicle autonomy by refining sensor fusion and improving decision-making capabilities. This product launch reflects TI’s commitment to pushing the boundaries of intelligent automotive systems.
In October 2023, LEM International SA entered into a strategic partnership with TDK Corporation to develop custom TMR (Tunnel Magnetoresistance) dies for next-generation integrated sensors. The collaboration allows both companies to expand their presence in industrial and automotive markets, particularly in fast-growing segments such as solar energy conversion, energy storage systems, and motor drives. LEM’s deep domain expertise complements TDK’s advanced materials and sensor platforms.
August 2023 saw another key release from Texas Instruments, which introduced a new line of precision sensing technologies. These included the industry’s lowest drift isolated Hall Effect current sensor designed for high-voltage applications across a wide temperature range. The new sensors enable engineers to simplify system design while enhancing accuracy and performance, particularly in electric vehicles and industrial power systems.
In April 2023, Siemens AG announced the release of SIBushing, a smart and intelligent cable coupling bushing. Paired with the SICAM FCM and integrated fault indicators, this product improves monitoring and fault detection capabilities in modern electrical grids, aligning with the company’s smart infrastructure strategy.
Earlier, in February 2022, STMicroelectronics unveiled a novel Intelligent Sensor Processing unit combining a digital signal processor (DSP) and a MEMS sensor on a single silicon die. This breakthrough enables AI algorithms to run directly on the chip, facilitating edge processing, reducing latency, and enhancing power efficiency—an important step forward in embedded AI.
Conclusion: Leaders Defining the Sensor-Driven Era
Through relentless innovation, robust collaborations, and strategic acquisitions, the world’s leading sensor companies are reshaping what is possible in sensing technologies. These firms are not only meeting current market demands but are also preparing the infrastructure for future advancements in automation, AI, and quantum-enabled systems. As sensors evolve from passive components to intelligent systems capable of real-time adaptation and contextual decision-making, the role of these industry giants becomes even more critical. In a world that demands smarter, safer, and more responsive environments, these organizations are setting the pace for the next wave of digital transformation.
The Road Ahead: 2025 and Beyond
By the end of this decade, sensor fusion will be foundational to technologies such as fully autonomous vehicles, which rely on the seamless integration of LiDAR, radar, and optical data. Sensor fusion, which combines data from LiDAR, radar, ultrasound, and optical systems, will become standard in autonomous vehicles, robotics, and smart infrastructure, enabling machines to perceive environments with human-like acuity.
Quantum sensors will push the boundaries of measurement, revolutionizing underground mapping, biomedical imaging, and secure navigation in GPS-denied environments. At the same time, AI-powered edge systems will deliver real-time analytics at the source, reducing latency, increasing operational efficiency by up to 30%, and enabling systems to act autonomously and contextually.
As we look toward 2025 and beyond, the convergence of sensing technologies is set to reshape multiple industries.
However, as sensors become more embedded in our lives, ethical considerations around surveillance, personal data, and algorithmic accountability must be addressed. However, this hyperconnected future must also grapple with ethical challenges. As sensors gain the ability to continuously monitor and analyze human behavior, concerns around data privacy, mass surveillance, and algorithmic bias will need robust governance frameworks and transparent design principles. Stakeholders across the value chain must collaborate to ensure responsible deployment and transparent governance of sensor-driven technologies.
Conclusion: Sensors—The Intelligence Layer of the Modern World
Sensor technologies have transcended their traditional role as passive data collectors. Today, they are active enablers of intelligent systems, seamlessly interfacing with AI, quantum computing, and next-generation connectivity (6G) to power a world that is increasingly aware, adaptive, and autonomous.
As digital transformation accelerates across sectors—from predictive maintenance in smart factories and personalized healthcare monitoring to sustainable environmental management and autonomous mobility—sensors are emerging as the critical layer of intelligence. They are not merely observing change; they are driving it, shaping real-time decisions and unlocking previously unimaginable capabilities.
The competitive edge no longer lies in data collection alone but in the integration of sensing with edge intelligence, secure data pipelines, and contextual analytics. Organizations that invest now in comprehensive, future-ready sensing ecosystems will lead the next wave of innovation—where insight is immediate, action is autonomous, and responsiveness is built into every system.
The future is not just connected—it is cognizant, context-aware, and continuously learning. Sensors will remain at the heart of this transformation, not as background technologies, but as the foundational intelligence layer of a smarter, more responsive world
Sources: IDTechEx, SkyQuest, Coherent Market Insights, TechInsights, Jaro Education.
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A Sensor is an electronic device that is used to measure some sort of physical parameters (e.g. temperature, pressure, light intensity, etc). The output of an electronic sensor is an electrical signal that is either analog or digital. Processing the sensor’s output can be done in hardware (using discrete electronic elements) or in software (using some sort of microcontrollers or MPUs).
Sensors are being employed in a wide range of applications. Some of the applications include Automation, Robotics, Embedded Systems, Computers, Smart Cars, Avionics, Satellites, Smart Homes, Smartphones, Smart Watches, Energy plants, Remote Sensing, and Communications.
Our smartphones contain a multitude of sensors. The thermistor inside this phone can sense the overheating of internal circuits and sends a signal to the microprocessor to shut down this phone. Google Maps depend on the GPS sensor in our phones that enables this little app. Proximity sensors placed by the earpiece of your phone tell it when you’re on a call. The phone saves battery power by turning off the screen. The gyroscope enables a compass app, and a capacitive sensor on the touchscreen senses when your finger is touching an icon. A light sensor adjusts the screen brightness here for ambient light levels. And there is a battery sensor here to correlate the charge level in the battery to the present life left on a phone.
Dozens of sensors are used in modern automobiles. Temperature sensors monitor the combustion process in the engine, the cooling process in the radiator and your comfort level in the cabin. Pressure sensors make sure you have sufficient oil to lubricate those pistons and proper air levels in the tires to make those wheels go around and you drive safely. A flow sensor makes sure you have sufficient air intake to combust the gasoline, that’s of course if it’s a gasoline engine. Position sensors monitor engine throttle, crank and camshaft angles, and radar detectors are critical features of all autonomous vehicle software. Airbags know when a collision is imminent from the accelerometer inside. And dashboard touch screens, well, they have capacitive sensors too. An oxygen sensor monitors the intake to the combustion reaction in the engine. And the oxygen and hydrogen sensors are used in experimental fuel cells for battery-operated cars. A battery sensor is an essential element of all cars whether gasoline or battery operated.
Sensors are in most electronics products these days. They’re driving a technology revolution called, “The Internet of Things.”
Sensors Classification
There are, in fact, many classifications for sensors. We can classify sensors depending on the type of output signal or the physical parameters they measure and other considerations could be taken resulting in a variety of ways to classify sensors.
Many types of sensors, detectors, and transducers are available including those for detecting a physical presence such as flame, metals, leaks, levels, or gas and chemicals, among others. Some are designed to sense physical properties such as temperature, pressure, or radiation, while others can detect motion or proximity. They operate in a variety of manners depending on the application and may include electromagnetic fields, or optics, among others.
Temperature Sensors/Detectors/Transducers are electronic devices that detect thermal parameters and provide signals to the inputs of control and display devices.
Vision and Imaging Sensors/Detectors are electronic devices that detect the presence of objects or colors within their fields of view and convert this information into a visual image for display.
Radiation Sensors/Detectors are electronic devices that sense the presence of alpha, beta, or gamma particles and provide signals to counters and display devices.
Contact sensors refer to any type of sensing device that functions to detect a condition by relying on physical touch or contact between the sensor and the object being observed or monitored.
Proximity Sensors are electronic devices used to detect the presence of nearby objects through non-contacting means.
Pressure Sensors/Detectors/Transducers are electro-mechanical devices that detect forces per unit area in gases or liquids and provide signals to the inputs of control and display devices.
Motion Sensors/Detectors/Transducers are electronic devices that can sense the movement or stoppage of parts, people, etc. and supply signals to the inputs of control or display devices.
Rotary sensors. An incremental encoder generates a train of electrical pulses, whose frequency is proportional to angular speed. Homing applications include motor speed and rate control found in machine tools, robots, mixing equipment and textile equipment.
Absolute encoders are routinely used for rotary position sensing. They’re also found in machine tools and robots. But they get used in medical and welding equipment where precise control of position is mission-critical for these applications. The rotating disk within the absolute
encoder contains a very precise pattern that is used to create a multi-bit digital word at each discrete angle at each location.
Position Sensors/Detectors/Transducers are electronic devices used to sense the positions of valves, doors, throttles, etc. and supply signals to the inputs of control or display devices.
Photoelectric sensors are electrical devices that sense objects passing within their field of detection, although they are also capable of detecting color, cleanliness, and location if needed.
Particle Sensors/Detectors are electronic devices used to sense dust and other airborne particulates and supply signals to the inputs of control or display devices.
Metal Detectors are electronic or electro-mechanical devices used to sense the presence of metal in a variety of situations ranging from packages to people.
Level Sensors/Detectors are electronic or electro-mechanical devices used for determining the height of gases, liquids, or solids in tanks or bins
Humidity Sensors/Detectors/Transducers are electronic devices that measure the amount of water in the air
Gas and Chemical Sensors/Detectors are fixed or portable electronic devices used to sense the presence and properties of various gases or chemicals
Force Sensors/Transducers are electronic devices that measure various parameters related to forces such as weight, torque, load, etc.
Flow Sensors/Detectors are electronic or electro-mechanical devices used to sense the movement of gases, liquids, or solids
Flame Detectors are optoelectronic devices used to sense the presence and quality of fire
Market
The global market for sensors is estimated to grow from $205.2 billion in 2021 to reach $411.2 billion by 2026 at a compound annual growth rate (CAGR) of 14.9% during the forecast period of 2021-2026.
The global market for internet of things (IoT) sensors is estimated to grow from $17.6 billion in 2021 to reach $50.9 billion by 2026 at a CAGR of 23.6% during the forecast period of 2021-2026.
The global market for biosensors is estimated to grow from $23.5 billion in 2021 to reach $49.7 billion by 2026 at a CAGR of 16.2% during the forecast period of 2021-2026.
Drivers
Market demand for sensors will be fueled by increases in motor vehicle and machinery production, growth in the shipment of process equipment, government regulations (e.g., requiring all new light vehicles to be equipped with electronic stability control and tire pressure monitoring systems) and growth in process manufacturers’ shipments.
The sensors market is being driven by the increasing requirement for sensor-rich applications. The developments of sensors that offer precise and accurate measurements repeatedly have been critical in driving the demand in novel applications. For instance, in case of drones, accurate measurement of barometric pressure is necessary for improving the stability and landing accuracy of flights. Moreover, industrial automation and the demand for miniaturized consumer devices, such as wearables and IoT-connected devices, among others, across regions, are among the major factors driving the sensors market.
Industry 4.0 revolution, in which machines are becoming more intelligent and intuitive, is increasing the need for the industrial applications of sensors. The new machines are designed in order to be more efficient, safe, and flexible, with the ability to autonomously monitor their performance, usage, and failure. These applications, therefore, spur the demand for sensors that are highly sensitive. Besides, the smart city initiatives have pushed the acceptance of smart homes that incorporate the usage of smart devices. Increasing urbanization, as well as the need to manage the infrastructure and assets, is encouraging countries across the world to invest in multiple smart city projects. According to the Consumer Technology Association, the global spending on smart city developments is expected to reach USD 34.35 billion by 2020.
Development of new applications for technologies such as microelectromechanical systems (MEMS), optoelectronics and photo-electronics will help to expand the sensor market. The maturity of many sensor markets and improved fabrication techniques have led to increased sensing abilities at lower costs, and this will also help to increase the market growth.
Implantable sensors, self-powered sensors (e.g., sensors that convert body movement to mechanical energy and muscle stretching into electricity), biosensors, MEMS and nanosensors are expected to revolutionize the healthcare industry in the next decade.
Moreover, sensors will be used in most cars as they decrease in price and increase in integration. Users will start accepting them as standard car parts, and automotive companies can integrate more intelligence into them until they achieve the goal of an autonomous car.
Segments
Global Sensors Market, are segmented into Component (Microcontrollers, Digital-to-Analog Converter (DAC), Amplifiers, Analog-to-Digital Converter (ADC), Transceivers), Type (Radar Sensor, Optical Sensor, Biosensor, Touch Sensor, Image Sensor, Pressure Sensor, Temperature Sensor, Proximity and Displacement Sensor, Level Sensor, Motion and Position Sensor, Humidity Sensor, Accelerometer and Speed Sensor, Others), Technology (CMOS, MEMS, NEMS, Others), End-User (Electronics, IT and Telecom, Industrial, Automotive, Aerospace and Defense, Healthcare, Others)
A modern automobile can perform many driver-assistance tasks, such as avoiding and preventing accidents and reducing the severity of accidents. The vehicles have passive safety systems, such as airbags and seat belts; active safety systems, such as electronic stability control, adaptive suspension, and yaw and roll control; and driver-assistance systems, including adaptive cruise control, blind-spot detection, lane-departure warning, and drowsy-driver alert and parking assistance.
Major sensor vendors include Honeywell International Inc. (US), DENSO CORPORATION (Japan), OMNIVISION (US), Alpha MOS (France), AMETEK.Inc. (US), AlphaSense Inc. (US), BorgWarner Inc. (US), Figaro Engineering Inc. (Japan), Emerson Electric Co. (US), General Electric Company (US), Industrial Scientific (US), SAMSUNG (South Korea), Teledyne Monitor Labs (TML), STMicroelectronics (Switzerland), NXP Semiconductors (Netherlands), Infineon Technologies AG (Germany), Qualcomm Technologies, Inc. (US), Microchip Technology Inc. (US), Texas Instruments Incorporated (US), Bosch Sensortec GmbH (Germany), Johnson Controls (Ireland), and Sony Semiconductor Solutions Corporation (Japan).
The major industrial market vendors include Infineon Technologies AG, Honeywell International Inc., Murata Manufacturing Co. Ltd., NXP Semiconductors NV, Renesas Electronics Corp., Robert Bosch GmbH, Rockwell Automation Inc., ROHM Co. Ltd., SENSATA TECHNOLOGIES HOLDING PLC, Siemens AG, and STMicroelectronics NV, Texas Instruments Incorporated among others.
References and Resources also include:
https://www.thomasnet.com/articles/instruments-controls/types-of-sensors/
https://www.mordorintelligence.com/industry-reports/global-sensors-market
https://www.yahoo.com/now/global-sensors-technology-markets-report-150900515.html
