Global Sensor Market, By Product Type (Radar Sensors, Optical Sensors, Biosensors, Touch Sensors, Image Sensors, Pressure Sensors, Temperature Sensors, Proximity Sensors, Level Sensors, Motion & Position Sensors, Humidity Sensors, Others), By Component (Analog to Digital Converters (ADCs), Digital to Analog Converters (DACs), Transceivers, Amplifiers, Microcontrollers, Others), By Technology (CMOS, MEMS, NEMS), By Vertical (Consumer Electronics, IT & Telecommunication, Healthcare, Industrial, Automotive, Aerospace & Defense, Others) By Region (North America, Europe, Asia Pacific, Rest of the World) - Forecast 2023
Market analysis

Sophisticated devices and its development has helped to respond and detect to various optical and electrical signals through the help of the sensors which could easily convert different physical parameters including humidity, temperature, speed and others into measurable electrical signals. The increasing adoption of the sensors in different consumer electronics, medical devices and automation industries has led to the growth of the global sensors market. In any case, complexities and unwavering quality issues related with the arrangement of sensors in System on Chip (SoC) and higher expenses of good quality sensors are probably going to hinder the development of the global sensor market. The global sensor market is anticipated to grow at a CAGR of 8.37% over the forecast period of 2018-2023 by reaching the value of USD 222.67 Bn by 2023.

Market segmentation

Based on its type, the global sensor market is classified as radar, touch, optical, pressure, biosensors, level, motion and position, image, proximity, temperature, humidity sensors and others. On the basis of its component, the market is bifurcated into amplifiers, transceivers, ADCs, DACs, microcontrollers and others. Based on its technology, the market is classified as CMOS, MEMS, NEMS, others. By vertical, the market is classified into healthcare, consumer electronics, IT and telecommunication, automotive and others.

Regional analysis

Geographically, the global sensor market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.

Major players

Robert Bosch GmbH, Microchip Technology Inc., ROHM Semiconductor, Honeywell International Inc., Infineon Technologies AG, Texas Instruments Inc., are some of the major players in the global sensor market.