SecurityWorldMarket

17/02/2021

Top 10 sensors predicted to reach $101 billion by 2026

Northbrook, Il

The latest report from Marketsandmarkets on the "Top 10 Sensors Market with a global forecast to 2026, values this segment of the sector at USD 72.7 billion in 2021 and expects it to reach USD 101.1 billion by 2026, at a CAGR of 6.8% during the forecast period. Among the end-user industries, consumer electronics, automotive, and healthcare are the major markets. Some of the reasons are the increasing demand for smart devices in consumer electronics, growing importance of measuring and controlling devices in these industries, and increasing concern toward security and surveillance in these sectors.

The researchers predict that image sensors will dominate the top 10 sensor market during the forecast period, as they have recently found a major and evolving application in security & surveillance, automotive, and industrial sectors (especially in machine vision systems), and particularly if we factor in the pandemic. These applications have recently started using cameras, creating a huge demand for image sensors. Earlier, only high-end cars had cameras installed, but now it is estimated that even low-end cars would have more than 10 cameras, which would assist the driver in safe driving. The developments and advancements in the technology of semiconductors have also helped in the development of complex image sensors that can take pictures without distorting the image quality.

It is also suggested that the market for fingerprint sensors will grow at an increased rate to 2026, with new and emerging application areas for fingerprint sensors in IoT and increasing adoption of fingerprint sensors in the banking & finance industry are some of the factors that would provide huge growth opportunities for the fingerprint sensor market in the coming years.

The top 10 sensor market in the APAC region is projected to grow at the highest CAGR due to increased production of motor vehicles in countries such as India, China, Japan, and South Korea, which is significantly contributing to the growth of the sensor market in this region. Moreover, increased usage of sensors in various industries, such as automotive, healthcare, petrochemical, oil and gas, and consumer electronics, as well as process industries, is expected to fuel the growth of the market in APAC

According to Marketsandmarkets, the top 10 sensor market is currently dominated by Emerson Electric Co, Honeywell, Siemens, Endress+ Hauser, Texas Instruments, TE Conectivuity, TDK Corp, Sensata Technologies, Sony, Samsung, Omnivision, Analog Devices, NXP, STMicroelectronics, Infineon, amongst others. 


Tags

Product Suppliers
Back to top