Top 10 Sensors Market expected to be worth $101.1 billion by 2026

(IT-NEWSWIRE.COM, February 11, 2021 ) The report "Top 10 Sensors Market by Type (Pressure, Temperature, Image, Motion, Fingerprint, Level, Gas, Magnetic Field, Position, and Light), Technology, Application, End-User Industry, and Region - Global Forecast to 2026", were valued at USD 72.7 billion in 2021 and are expected 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.

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“Image sensor to dominate the top 10 sensor market during the forecast period.”

Image sensors have recently found a major and evolving application in security & surveillance, automotive, and industrial sectors (especially in machine vision systems). 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.

“The market for fingerprint sensors to grow at a higher rate during the forecast period.”

The fingerprint sensor market is expected to grow at a CAGR of 13.7% from 2021 to 2026. 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 APAC top 10 sensor market is expected to grow at the highest rate during the forecast period.”

The top 10 sensor market in this region is projected to grow at the highest CAGR during the forecast period as well. The increasing production of motor vehicles in countries such as India, China, Japan, and South Korea, is significantly contributing to the growth of the sensor market in APAC. 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

The top 10 sensor market is currently dominated by Emerson Electric Co. (US), Honeywell International (US), ABB (switzerland), Seimens (Germany), Endress+ hauser (swizterland), Texas Instruments (US), TE Conectivuity (US), TDK Corporation (Japan), Sensata Technologies (US), Sony (Japan), Samsung (South Korea), Omnivision technologies (US), Analog devices (US), NXP semsiconductors N.V. (Netherlands), STMicroelectronics (switzerland), Infineon technologies (Germany), ams AG (Austria), MSA (US) and Broadcom (Us) . A few of the major strategies adopted by these players to compete in the Top 10 sensor market include product launches, partnerships, and agreements have been carried out by the players in the top 10 sensor market from 2017 to 2020. There were also a significant number of product launches, partnerships, collaboration, and agreements during this period.

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Top 10 Sensors Market expected to be worth $101.1 billion by 2026