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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Market Share by Technology
MEMS (Micro Electro-Mechanical System) sensors are expected to account for a significant portion of the sensor market share as they are highly scalable resulting in low unit costs. Advantages associated with MEMS technology such as high sensitivity, reliability, and improved accuracy are attracting a wide number of consumers towards the product, resulting in the growth of the MEMS segment and ultimately the global market for sensor. The switches and actuators produced using MEMs are capable of attaining very high frequencies.
MEMS sensors can be easily integrated with electronic circuits on the same silicon chip. This integration improves reliability and performance, reduces size, and can lower production costs. MEMS sensors are used in a variety of fields, including consumer electronics (smartphones, gaming consoles), automotive systems (airbag sensors, tire pressure monitoring systems), healthcare (implantable medical devices, diagnostic equipment), and industrial applications (pressure sensors, accelerometers).
Due to their small size, these sensors typically consume very little power, which is essential for battery-operated devices like mobile phones and wearable technology. In healthcare, MEMS sensors are used in a variety of applications, from monitoring vital signs in wearable devices to advanced diagnostics in medical equipment.
Sensor Market Report Snapshots
Sensor Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of approximately USD 217.84 billion in 2023.
The market is projected to grow at a CAGR of 8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 435.45 billion by 2032.
The major drivers of the market include rising population, increasing digitalisation, and growth of the automotive sector.
The key trends of the market include rising demand for consumer electronics, increasing demand for green energy, and advancements in process automation.
The various types of sensors available in the market are radar sensor, optical sensor, biosensors, touch sensors, image sensor, pressure sensor, temperature sensor, proximity and displacement sensor, level sensor, motion and position sensor, humidity sensor, and accelerometer and speed sensor, among others.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key players in the sensor market are Infineon Technologies AG, Microchip Technology Inc., NXP Semiconductors N.V., STMicroelectronics International N.V., Qualcomm Incorporated, Bosch Sensortec GmbH, Sony Corporation, OMRON Corporation, Taiwan Semiconductor Manufacturing Company Limited, and Texas Instruments Incorporated, among others.
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