Global Sensors Market Synopsis

Global Sensors Market Size Was Valued at USD 88.1 Billion in 2023 and is Projected to Reach USD 147.58 Billion by 2032, Growing at a CAGR of 5.9 % From 2024-2032.

Sensors are devices that detect changes in the source or environment, collect signals, and plan a response accordingly. Various sources can be used, such as light, temperature, movement pressure, etc. Through innovative sensor technologies, a wide range of applications are used in lifestyle, healthcare, and fitness.

• A widely recognized sensor is the microphone, which transforms sound waves into an electrical signal suitable for amplification, transmission, recording, and replication.
• We employ sensors in our daily lives. The ordinary mercury thermometer is an extremely ancient form of sensor used to measure temperature. Mercury detects the temperature changes which are stored in the closed tube-like structure.
• Numerous factors, including the growing need for consumer electronics, surveillance cameras, indoor navigation applications, high-accuracy motion sensors in video games, and the increasing uptake of green energy technologies, are driving the expansion of the sensor industry. The market is expanding as a result of a greater emphasis being placed on the research and development of new goods. Significant factors driving the growth of the sensors market include the Internet of Things (IoT) and improved image sensors utilized in a variety of applications, such as gas sensors, cameras, etc.
• An essential component of the Internet of Things (IoT) is sensors. Through them, an ecosystem for gathering and analyzing data on a particular environment may be established, facilitating easier and more effective monitoring, management, and control. IoT sensors are utilized in a variety of situations, including homes, fields, cars, aircraft, and factories. The physical and logical worlds are connected by sensors, which serve as the eyes and ears of a computing infrastructure that gathers, processes, and interprets sensor data.

Global Sensors Market Trend Analysis

Increasing Applications in the Automotive Industry

• Increasing focus on automotive safety regulations and standards because of the global mandate to integrate safety features such as collision avoidance systems, lane departure warning systems, and adaptive cruise control into vehicles. These systems depend heavily on a variety of sensors, including LiDAR, radar, ultrasound, and cameras, to accurately detect the vehicle's surroundings and respond to potential threats in real-time.
• The growing applications in the automobile industry are a major driver of the current opportunity rise in the sensor market. Sensors are becoming more and more necessary as cars get smarter and more self-sufficient. These sensors are essential for enabling a range of autonomous driving functions and advanced driver assistance systems (ADAS), which improve passenger and driver safety and comfort.

Problems With Affordability

• high costs for maintenance and installation, and the need for huge amounts of money to establish and maintain an integrated, self-monitoring, sustainable, and adaptable network of smart sensors harms the market.

Technological Advancements In  Automotive Sensors

• The car industry has seen significant growth in recent decades toward autonomous driving systems, with sensors emerging as essential components. Light detection and ranging (LIDAR) sensors have proven essential for reaching complete autonomy, despite their original expensive cost.
• Radar technology advancements have significantly improved sensor capabilities, allowing sensor fusion systems to perceive the surroundings in more detail. The demand for sophisticated sensors in future autonomous vehicles is expected to increase as manufacturers look for dependable, high-performing, and cost-effective solutions.
• The growth of the automobile industry is improving sensor dependability and opening up new growth opportunities in several other areas. Applications for sensors are becoming more and more varied, ranging from environmental monitoring and wearable technology to biomedicine and healthcare. This expanding range highlights the critical role that sensors play in tackling new issues like climate change and satisfying the changing requirements of contemporary

Global Sensors Market Segment Analysis:

Global Sensors Market Segmented based on type and end-users.

By Type, The Global Sensor Image Sensor Segment Is Expected To Dominate The Market During The Forecast Period.

• The sensor market is predicted to be dominated by the image sensor sector. The widespread application of image sensors in numerous industries, such as consumer electronics, automotive, healthcare, security, and surveillance, is a major factor in their supremacy. Sophisticated image sensors are being developed in consumer electronics because of the demand for high-quality cameras in smartphones, tablets, and digital cameras. The digital camera market is always growing as new features and improvements to image quality are introduced. Improved low-light capabilities, faster-focusing speeds, and higher resolution are highly desired by both professionals and consumers.
• By adding image sensors to advanced driver-assistance systems (ADAS) for functions like lane departure warning, parking assistance, and collision avoidance, the automotive industry increases consumer demand.

By End Users, The Automobile Sensor Segment Held The Largest Share  In 2023

• The market is believed to be dominated by the automobile category. The increasing usage of sensors in cars for a range of functions, such as safety, efficiency, comfort, and legal compliance, is what's driving this domination. This tendency is accelerated by the automobile industry's push for advanced driver-assistance systems (ADAS), electric vehicles (EVs), and self-driving cars.
•  With the rise in popularity of the Internet of Things (IoT) and connected services like smart cars, sensors are becoming more and more crucial to data collection. Predictive maintenance, car diagnostics, remote monitoring, and integrated entertainment systems are some of these services. Sensors gather information on the condition of the vehicle, usage patterns, and driving habits to offer owners and operators of automobiles useful insights and customized services.
• For features like lane departure alerts, parking assistance, collision detection, and electric vehicle battery management, sensors are necessary. The automotive sector is expected to continue being a major driver of the Sensors Market because of the continuous advancements in automotive technology and the growing customer desire for safer, more efficient automobiles.

Global Sensors Market Regional Insights:

Asia Pacific Is Expected To Dominate The Market Over The Forecast Period.

• The Asia-Pacific region is anticipated to lead the global sensors market due in large part to its affordable shipping costs, which attract manufacturers and distributors to locate their operations there. It is anticipated that the region's decreasing production costs will fuel additional market expansion for sensors.
• Asia-Pacific emerges as a major participant as businesses look for affordable manufacturing solutions because of its competitive advantages in supply chain infrastructure and production efficiency. During the projected period, the sensors market in the region is expected to witness substantial expansion due to the combined influence of these factors.

Global Sensor's Key Players

• Honeywell International Inc. (U.S.)
• Keller America, Inc. (U.S)
• Rockwell Automation Co. Ltd. (U.S.)
• General Electric Company (U.S.)
• Raytek Corporation (U.S.)
• PCB Piezotronics, Inc. (U.S.)
• Banner Engineering Corp. (U.S.)
• Merit Sensor Systems (U.S.)
• STS Sensors (Switzerland)
• TE Connectivity (Switzerland)
• SIEMENS AG (Germany)
• WIKA Alexander Wiegand & Co.  (Germany)
• EPCOS AG (Germany)
• First Sensor Technology (Germany)
• Balluff (India)
• Hans TURCK & Co. (Germany)
• Pepperl+Fuchs (Germany)
• SICK AG (Germany)
• Di-soric Industrie-electronic & Co. (Germany)
• Sensortechnics (Germany)
• Ahlborn Mess- und Regelungstechnik (Germany)
• Proxitron (Germany)
• Christian Bürkert & Co. KG (Germany)
• Infineon Technologies AG (Germany)
• Emerson Electric Co. (Missouri)

Key Industry Developments In The Global Sensors Market:

• In March 2024: Siemens will purchase ebm-papst's industrial drive technology division. To strengthen its position in factory automation and digitization, Siemens intends to purchase ebm-papst's business. By doing this, Siemens Xcelerator's range is increased, and ebm-papst's mechatronic systems and fan knowledge are tapped upon.
• In Oct 2023: Emerson declared that it had completed the $8.2 billion equity valuation of its purchase of NI, a top supplier of software-connected automated test and measurement equipment. By acquiring NI, Emerson strengthens its position as a leader in automation globally and increases its potential to profit from significant secular trends including nearshoring, digital transformation, sustainability, and decarbonization.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power of Supplier
      2. Threat of New Entrants
      3. Threat of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. GLOBAL SENSORS MARKET BY TYPE (2017-2030)
   1. GLOBAL SENSORS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. IMAGE SENSOR
      1. Introduction and Market Overview
      2. Historic and Forecasted Market Size in Value (2017-2030F)
      3. Historic and Forecasted Market Size in Volume (2017-2030F)
      4. Key Market Trends, Growth Factors and Opportunities
      5. Geographic Segmentation Analysis
   4. SPEED SENSOR
   5. BIOSENSORS
   6. OPTICAL SENSORS
   7. PRESSURE SENSOR
   8. TEMPERATURE SENSOR
   9. TOUCH SENSOR
7. GLOBAL SENSORS MARKET BY SEGMENT END-USER (2017-2030)
   1. GLOBAL SENSORS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. AUTOMOTIVE
      1. Introduction and Market Overview
      2. Historic and Forecasted Market Size in Value (2017-2030F)
      3. Historic and Forecasted Market Size in Volume (2017-2030F)
      4. Key Market Trends, Growth Factors and Opportunities
      5. Geographic Segmentation Analysis
   4. AEROSPACE & DEFENSE
   5. ELECTRONICS
   6. HEALTHCARE INDUSTRIAL IT & TELECOM
8. GLOBAL SENSORS MARKET BY TECHNOLOGY (2017-2030)
   1. GLOBAL SENSORS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. CMOS
      1. Introduction and Market Overview
      2. Historic and Forecasted Market Size in Value (2017-2030F)
      3. Historic and Forecasted Market Size in Volume (2017-2030F)
      4. Key Market Trends, Growth Factors and Opportunities
      5. Geographic Segmentation Analysis
   4. MEMS
   5. NEMS
9. COMPANY PROFILES AND COMPETITIVE ANALYSIS
   1. COMPETITIVE LANDSCAPE
      1. Competitive Benchmarking
      2. GLOBAL SENSORS Market Share by Manufacturer (2023)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
   2. HONEYWELL INTERNATIONAL INC. (U.S.)
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves and Recent Developments
      10. SWOT Analysis
   3. KELLER AMERICA, INC. (U.S)
   4. ROCKWELL AUTOMATION CO. LTD. (U.S.)
   5. GENERAL ELECTRIC COMPANY (U.S.)
   6. RAYTEK CORPORATION (U.S.)
   7. PCB PIEZOTRONICS, INC. (U.S.)
   8. BANNER ENGINEERING CORP. (U.S.)
   9. MERIT SENSOR SYSTEMS (U.S.)
   10. STS SENSORS (SWITZERLAND)
   11. TE CONNECTIVITY (SWITZERLAND)
   12. SIEMENS AG (GERMANY)
   13. WIKA ALEXANDER WIEGAND & CO.  (GERMANY)
   14. EPCOS AG (GERMANY)
   15. FIRST SENSOR TECHNOLOGY (BERLIN)
   16. BALLUFF (INDIA)
   17. HANS TURCK & CO. (GERMANY)
   18. PEPPERL+FUCHS (GERMANY)
   19. SICK AG (Germany)
   20. DI-SORIC INDUSTRIE-ELECTRONIC & CO. (GERMANY)
   21. SENSORTECHNICS (GERMANY)
   22. AHLBORN MESS- UND REGELUNGSTECHNIK (GERMANY)
   23. PROXITRON (GERMANY)
   24. CHRISTIAN BÜRKERT & CO. KG (GERMANY)
   25. INFINEON TECHNOLOGIES AG (GERMANY)
   26. EMERSON ELECTRIC CO. (MISSOURI)
10. GLOBAL SENSORS MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors and Opportunities
       2. Key Manufacturers
       3. Historic and Forecasted Market Size by Segment1
       4. Historic and Forecasted Market Size by Segment2
       5. Historic and Forecasted Market Size by Segment3
       6. Historic and Forecasted Market Size by Segment4
       7. Historic and Forecasted Market Size by Segment5
       8. Historic and Forecasted Market Size by Segment6
       9. Historic and Forecasted Market Size by Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors and Opportunities
       2. Key Manufacturers
       3. Historic and Forecasted Market Size by Segments
       4. Historic and Forecasted Market Size by Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors and Opportunities
       2. Key Manufacturers
       3. Historic and Forecasted Market Size by Segments
       4. Historic and Forecasted Market Size by Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors and Opportunities
       2. Key Manufacturers
       3. Historic and Forecasted Market Size by Segments
       4. Historic and Forecasted Market Size by Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors and Opportunities
       2. Key Manufacturers
       3. Historic and Forecasted Market Size by Segments
       4. Historic and Forecasted Market Size by Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors and Opportunities
       2. Key Manufacturers
       3. Historic and Forecasted Market Size by Segments
       4. Historic and Forecasted Market Size by Country
          1. Brazil
          2. Argentina
          3. Rest of South America
11. INVESTMENT ANALYSIS
12. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies