Glоbаl Top 10 Sensors Market By Type (Accelerometer & Speed Sensor, Image Sensor, Biosensors, Optical Sensor, Pressure Sensor, Temperature Sensor, Touch Sensor, Others), By End-user (Aerospace & Defense, Automotive, Electronics, Healthcare, Industrial, IT & telecom, Others), By Technology, By Rеgіоn аnd Кеу Соmраnіеѕ - Іnduѕtrу Ѕеgmеnt Оutlооk, Маrkеt Аѕѕеѕѕmеnt, Соmреtіtіоn Ѕсеnаrіо, Тrеndѕ аnd Fоrесаѕt 2021–2031

Introduction –

Sensors are devices that detect changes in an environment, in turn, producing appropriate information accordingly. They detect physical inputs such as light, heat, motion, wetness, pressure, or any other entity, and display this information or transmit it digitally for further processing.

A few applications include its use in flood and water level monitoring systems, environmental monitoring, traffic monitoring, and management, energy conservation in artificial lighting, remote system monitoring & equipment fault diagnosis, precision agriculture, and animal tracking.

Sensors are used in every industry area, although consumer electronic devices are the most popular segment, followed by the automotive, and the IT & telecom sectors. Sensors such as an accelerometer, gyroscope, ambient light sensor, proximity sensor, and temperature detector are built into smartphones to keep track of variable elements that are then fed into a centralized system to ensure successful autonomous control.

Sensors are an essential component in the consumer electronics industry. They are the most important devices of every electronic gadget and assist in making daily living easier. They are used to represent specific readings in display devices.

Programmed electronic equipment is able to then analyze these readings in order to complete any additional operational tasks. Sensors help in the measurement and detection of physical quantities, as well as their conversion to digital or analog representations. For user energy and interface efficiency, numerous sensors have been utilized in game consoles, mobile phones, laptops, notebooks, and tablets.

They’re employed in a variety of methods, including integrated, independent, embedded, combining, as well as in ingestible and wearable devices. These technologies are becoming more reliable, precise, and sensitive. Sensors are getting more predictive and sophisticated, ensuring safety in the process. Owing to these aforementioned factors, sensors are now in high demand.

Detailed Segmentation –

Based on Type

• Accelerometer & Speed Sensor
• Image Sensor
• Biosensors
• Optical Sensor
• Pressure Sensor
• Temperature Sensor
• Touch Sensor
• Others

Based on Technology

• CMOS
• MEMS
• NEMS
• Others

Based on End-user

• Aerospace & Defense
• Automotive
• Electronics
• Healthcare
• Industrial
• IT & telecom
• Others

Based on Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Market Dynamics –

Drivers:

Microelectromechanical (MEM) systems are a type of technology that is used to create ultra-small electromechanical devices. Sensors based on this technology may detect and evaluate external changes, and subsequent corrections can be mechanically made. The demand for MEMS-based sensors is increasing due to substantial improvements in the automotive and aviation industries. These sensors are used to monitor ambient conditions in biomedical applications, control systems, consumer products, and weather forecasting systems.

When paired with Analog-to-Digital Converters (ADC), blood monitoring systems based on MEMS technology have lower production costs when compared to traditional blood monitoring systems. To monitor the flow rate of fluids in the stomach and intestines, MEMS-based sensors are combined with smart pills.

The demand for tiny, high-performance sensors in healthcare and automotive applications has further fueled the adoption of MEMS technology-based sensors. These sensors have proven to be useful, as they are simple to incorporate behind panels, and are capable of offering data to local or remote monitoring stations. Furthermore, the widespread use of IoT platforms and remote connectivity is likely to result in a significant increase in the demand for MEMS-based sensors, thereby contributing to the global sensor market’s revenue growth in the process.

Restraints:

Continual price fluctuations are potentially restraining revenue growth prospects in terms of additional sales, while the extensive use of sensors in automated intelligent controls and wearable electronics are expected to lead to more voluminous shipments of these sensors. This is partly due to the increased number of sensor manufacturers, which has resulted in stiff market competition.

Several firms are focusing their research and development efforts on developing low-cost sensors by using existing technologies like MEMS. Sensors used in high-volume applications are also likely to be less expensive. This drop-in pricing not only stifles revenue development for enterprises in the highly competitive sensor sector, but it also leads to redundancy.

Transducers have been replaced by transmitters in most applications due to advances in Information and Communication Technologies (ICT). Furthermore, opting for transmitters over transducers has become increasingly appealing as transmitter price premiums are gradually declining due to them being outdated. This is a major trend that is anticipated to have a significant influence on this global industry in the near future.

Opportunities:

The Internet of Things (IoT) has changed the way the world connects. By combining the capabilities of data analytics with cloud computing solutions, it has enabled machines to make their own decisions. Advancements in semiconductor and electronic devices, high-speed wireless networks, and advanced analytics solutions are mostly responsible for this. To enable this, a variety of sensors are necessary.

Sensors play a critical part in fulfilling potential IoT capabilities. With the integration of these sensors in cloud computing, manufacturers are now able to offer complete IoT-based solutions. They take physical measurements and turn them into values that consumers or their gadgets can understand. Sensors measure the amount of gas or liquid in addition to characteristics like speed and altitude.

Trends:

The growing use of fingerprint sensors, particularly in the banking and finance industries, as well as new application areas in IoT, are anticipated to exponentially boost the fingerprint sensors market forward in the future. Due to the increase in card fraud, there is a growing demand for more secure transaction options and biometric smartcards as well. Furthermore, the expansion of the fingerprint sensors market is likely to be driven by an increase in the number of contracts and collaborations among competitors or other market players.

In the security & surveillance, automotive, and industrial sectors, image sensors have recently found substantial and evolving applications (especially in machine vision systems). These applications have only lately begun to use cameras, resulting in a surge in image sensor demand. Previously, only high-end vehicles had cameras, but it is now expected that even low-end automobiles would have more than ten cameras that assist a driver. The developing of complicated image sensors that can take photographs without distorting the image quality has also been aided by advancements in semiconductor technology.

Competitive Landscape –

• Emerson Electric Co.
• Asahi Kasei
• Sensirion
• Knowles Electronics
• ABB Ltd.
• Sensata Technologies
• Omega Engineering
• Microchip
• Siemens AG
• Honeywell International Inc.
• Figaro Engineering
• Teledyne Analytical Instruments
• NXP Semiconductor N.V.
• STMicroletronics
• TDK Corporation (Invense)

Recent Developments:

• In November 2020, STMicroelectronics and Qualcomm Technologies cooperated on innovative sensor technologies for next-generation mobile phones, linked PCs, IoT, and wearable applications.
• In July 2020, Texas Instruments introduced the industry’s first zero-drift Hall-effect current sensors. The TMCS1100 and TMCS1101 provide stable 3- kVrms isolation with the lowest drift and best accuracy across time and temperature, which is especially crucial for AC or DC high-voltage systems such industrial motor drives, solar inverters, energy storage equipment, and general power supply.
• In June 2020, the global distribution agreement between TDK and Arrow Electronics Inc. to deliver InvenSense devices was renewed. Under the new partnership, Arrow has expanded its distribution of InvenSense’s whole line of MEMS-based devices to customers in the United States, the Middle East, Africa, and the Asia Pacific.

For the Top 10 Sensors Market research study, the following years have been considered to estimate the market size: