Sensor Market Size is Projected to Reach USD 287 Billion by 2025, Growing at a CAGR of 9.5% | Valuates Reports

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BANGALORE, India, March 24, 2020 /PRNewswire/ -- A sensor is a device used to detect events or alterations in its environment and transmit the information to other electronics, often a processor.

The global sensor market size in 2017 was estimated at USD 138,965.0 Million and is expected to hit USD 287 Billion by 2025, at a CAGR of 9.5% from 2019 to 2025 .

Factors such as developments in sensor technology and increasing use of smartphones and other mobile devices, innovations in the automation industry, increased demand for sensors in smart city development and rise in IoT technology are expected to drive the growth of the sensor market size.

The sensors have penetrated virtually every vertical industry but have the highest use in consumer electronic goods, led by automotive and IT & Telecom. To keep track of parameters and provide a centralized framework for automatic monitoring, smartphones integrate sensors such as accelerometer and gyroscope.

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TRENDS INFLUENCING THE SENSOR  MARKET SIZE

• One of the major trends increasing the sensor market size is the rise in a number of smart cities. Sensors installed in smart cities help make the city more convenient and interactive for its residents.
• In the medical field, doctors use smart sensors to track daily tests such as patient blood pressure and body temperature. In addition, smart sensors monitor the quality of heart rate and blood oxygen and pass medical information to healthcare professionals across the cloud. Due to such factors, the implementation of sensors in the medical field is expected to boost the market size.
• Furthermore, with the advent of new semiconductor materials such as polymers is likely to reduce the cost, weight, and size of electronic devices and help increase demand for the market for sensors. Communication technologies like satellite-based personal networks can promote sensor demand. High demand in consumer electronics and the automotive industry has had a positive influence on market demand due to various sensor applications in these sectors.

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Sensor Market Segmentation

By Region

• North America
• Europe
• Asia-Pacific
• LAMEA

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Sensor Market by Type

• Radar Sensor
• Optical Sensor
• Biosensor
• Touch Sensor
• Image Sensor
• Pressure Sensor
• Temperature Sensor
• Proximity & Displacement Sensor
• Level Sensor
• Motion & Position Sensor
• Humidity Sensor
• Accelerometer & Speed Sensor
• Others

Sensor Market by Technology

• CMOS
• MEMS
• NEMS
• Others

Sensor Market by End User

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

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