Thanks to the advancements in technology, sensors play an essential role, especially when it comes to consumer industry. It makes the task easy, efficient, and more productive. With the escalating demand for devices such as smartphones, tablets, or wearable devices with advanced features, the demand for electronic sensors has also witnessed a huge growth over the past few years. The market has a huge growth potential because of the demand across various industry verticals like IT, communication devices, entertainment, and home appliances, thereby boosting the market growth, globally.
Market Drivers & Inhibitors
The worldwide market for electronic sensors is witnessing a significant growth due to the following factors:
- Growing demand for smartphones, tablets, and laptops with advanced features
- Rising demand and adoption of wearable devices
- Deployment of various sensors in a number of applications
Although the market for electronic sensors for consumer industry is expected to witness a good growth ahead, it is likely to be hampered by the lack of standardized fabrication process for MEMS sensors. Moreover, maintaining the balance between increasing price pressure and size of the sensors remains a key challenge for the market players.
Market Predictions
The size of the global electronic sensors market for the consumer industry which was expected to be USD 11.94 Billion in 2015 is estimated to reach USD 26.76 Billion by the end of 2022, growing at a CAGR of 12.26% during the forecast period from 2016-2022. Region wise, Asia-Pacific is anticipated to be the fastest-growing market for electronic sensors, and is expected to grow at the highest CAGR over the forecast period, thanks to the growing demand for budget smartphones and fitness and activity trackers.
Based on type, the image sensors segment held the largest market share in 2015 because of their deployment in smartphones and digital cameras on a large scale. However, the market for fingerprint sensors is expected to grow at the highest CAGR during the period under consideration, mainly because of their growing adoption in many electronic devices such as smartphones, tablets, and laptops. Among application, the communication & IT segment is expected to hold the highest market share due to the increasing demand for smartphones and integration of a number of advanced features.
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Research Scope
The global market for electronic sensors for consumer industry has been analyzed and predicted on the basis of following categorization:
- Type: Pressure Sensor, Temperature Sensor, Motion Sensor, Image Sensor, Proximity Sensor, Fingerprint Sensor, Others
- Application: Entertainment, Communication & IT, Home Appliances, Wearable Devices
- Geography: North America, Europe, Asia-Pacific, RoW
Sony Corporation (Japan), STMicroelectronics N.V. (Switzerland), Samsung Electronics Co., Ltd. (South Korea), NXP Semiconductors N.V. (Netherlands), Robert Bosch GmbH (Germany), Murata Manufacturing Company, Ltd. (Japan), Infineon Technologies AG (Germany), TE Connectivity Ltd. (Switzerland), Synaptics Incorporated (U.S.), Cypress Semiconductor Corporation (U.S.), and OMRON Corporation (Japan) are the major companies involved in the electronic sensors market for consumer industry.
