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Sensor Global Market Headed for Growth and Global Expansion by 2023Market Highlights: The global sensor market stood at USD 139.90 Bn in 2017 and is anticipated to catapult to USD 222.67 Bn by the end of 2023, asserts Market Research Future (MRFR) in an extensive study. The global sensor market is expected to capture a CAGR of 8.37% over the forecast period of 2018-2023. The sensors market has progressed forward due to heightened demand for multiple end-user application. Rising penetration of sensors in advanced healthcare equipment fosters the growth of the global sensors market. Healthcare equipments are highly reliant on sensors for accurate monitoring, diagnosis, and treatment. Temperature sensors are integrated with advanced medical devices such as anesthesia delivery machines, sleep apnea machines, ventilators, kidney dialysis machines, blood analyzers, medical incubators, humidified oxygen heater temperature monitoring &control equipment, and neonatal intensive care units. The use of proximity sensors in respiratory and ventilation devices allow for real-time monitoring of patients. Increasing integration of sensors in medical devices spurs the growth of the market. Get a Sample Report @ https://www.marketresearchfuture.com/sample_request/4392 Major Key Players • STMicroelectronics N.V., • Hewlett Packard Enterprise Development LP, • Panasonic Corporation, • Qualcomm Technologies, Inc., • Johnson controls international PLC, • NXP semiconductors N.V., • Infineon Technologies AG, • Atmel Corporation, • Texas instruments Inc., • Robert Bosch GmbH, • Sony Corporation, • Honeywell International, Inc., Taiwan Semiconductor Manufacturing Company Limited, Volkswagen and Canon Inc. among others. Regionally, Asia Pacific accounted for the largest market share from countries such China, India, and Japan among others. The reason is attributed to growing demand for high technology adoption and growing electronic industry in the region. However, Asia Pacific is expected to grow over the forecast period, 2017-2023. According to MRFR, the global Sensor Market is expected to reach approximately USD 266.27 billion by the end of 2023 with 11.60% CAGR during forecast period 2017-2023. Industry News The UTC Aerospace System is testing its next-generation short-wave infrared camera sensor which is capable of seeing laser strobes in real time and can also be incorporated into various ground, sea and air platforms. The system is already deployed with the U.S. military testing units. Drivers and Constraints Impacting the Market With the growing advancement in technology and miniaturization of devices, the global market for sensor is likely to boom over the forecast period. Emergence of semiconductor materials like polymers is expected to reduce the weight, cost, and size of electronic devices which is predicted to spur the demand for sensors market in the coming years. Moreover, low cost, chip-level integration, wireless connectivity, and low power are expected to drive the market over the forecast period. Communication technologies comprising satellite-based personal network is also anticipated to foster the market growth over the years. On the flip side, fluctuating global economic conditions are likely to hamper the market growth. Also, other factors such as price sensitivity and time to market are expected to inhibit the market growth during the forecast period. Moreover, high cost of sensor implanted devices is estimated to hamper the market growth during the forecast period. Segmental Analysis: By type, the global sensors market has been segmented into radar sensors, optical sensors, biosensors, touch sensors, image sensors, pressure sensors, temperature sensors, proximity and displacement sensors, level sensors, motion and position sensors, humidity sensors, and accelerometer and speed sensors, among others. The image sensor segment accounted for the largest share of USD 20,915.1 Mn in 2017, however, the biosensor segment is anticipated to surpass the image sensor segment and emerge as the largest segment. The biosensor segment is expected to attain USD 32,184.5 Mn by the end of 2023. Meanwhile, the radar sensor segment is expected to grow at the fastest rate of 14.75% over the forecast period. By component, the global sensor market has been segmented into analog to digital converters, digital to analog converters, transceivers, amplifiers, microcontrollers, and others. The microcontrollers segment was the largest in 2017 and was valued at USD 30,775.9 Mn. The microcontrollers segment is expected to retain its dominance over the forecast period while the digital to analog converters segment is projected to grow at the fastest rate of 9.7% over the forecast period. By technology, the global sensor market has been segmented into MOS, MEMS, NEMS, and others. The MEMS segment stood at USD 56,328.9 Mn in 2017 and is anticipated to be the largest segment over the forecast period. The NEMS segment is expected to be the fastest growing segment at a CAGR of 10.36% over the forecast period. By vertical, the global sensor market has been segmented into IT & Telecommunication, healthcare, manufacturing, aerospace and defense, and others. The consumer electronics segment was the largest segment in 2017 and is expected to maintain its dominance over the forecast period. The consumer electronics segment is projected to attain a valuation of USD 41,745.8 Mn by the end of 2023. The healthcare segment is expected to grow at the fastest rate of 10.10% over the forecast period. Regional Analysis Geographically, the global sensor market has been segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). Asia Pacific accounts for the largest share of 35.8% of the global sensor market and is expected to attain the maximum value of approximately USD 75,507.3 Mn by the end of 2023. Prolific industrialization in the region coupled with the rapid adoption of digital technology generates substantial demand for sensors. Thriving healthcare sector along with high adoption of warble sensor-enabled products add fuel to the growth of the APAC market. The proliferation of smart homes and smart buildings in countries such as China, Taiwan, and South Korea also boosts the growth of the APAC market which is expected to capture a CAGR of 7.39% over the forecast period. Europe market is slated to emerge as the fastest growing market for sensors and expand at a CAGR of 9.13% over the forecast period. Massive investment in R&D of sensor technology by various established companies and new players in Germany and France have driven the market in Europe. Also, a large number of OEMs present in the region are engaged in the development of IMUs, MEMS technology, and others which stimulate market growth in Europe. Browse Complete Report @ https://www.marketresearchfuture.com/reports/sensor-market-4392 Intended Audience • Device manufacturers • Network Operators • Mobile manufacturer • Government Agencies • Security Agencies • End-user sectors • Communication operators • Defense LIST OF TABLES TABLE 1 SENSOR MARKET, BY PRODUCT TYPE TABLE 2 SENSOR MARKET, BY TECHNOLOGY TABLE 3 SENSOR MARKET, BY END-USER TABLE 4 SENSOR MARKET, BY GEOGRAPHY TABLE 5 NORTH AMERICA SENSOR MARKET, BY PRODUCT TYPE TABLE 6 NORTH AMERICA SENSOR MARKET, BY TECHNOLOGY TABLE 7 NORTH AMERICA SENSOR MARKET, BY END-USER TABLE 8 EUROPE SENSOR MARKET, BY PRODUCT TYPE TABLE 9 EUROPE SENSOR MARKET, BY TECHNOLOGY Continued….. About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. Contact: Market Research Future +1 646 845 9312 Email: [email protected] As a community-building service, TMCnet allows user submitted content which is not always proofed by TMCnet editors. 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