Enjoy complimentary customisation on priority with our Enterprise License!
The semiconductor sensors market size is estimated to grow at a CAGR of 10.71% between 2023 and 2028. The market size is forecast to increase by USD 7.85 billion. The growth of the market depends on several factors, including increasing demand for smart devices, increasing adoption of industrial automation and IoT technologies and rise in popularity of smart cities in emerging nations. A semiconductor sensor is a type of electronic device that utilizes semiconductor materials to detect and measure changes in various physical phenomena, such as temperature, pressure, light, or gas concentration. Semiconductor sensors are constructed using semiconductor materials, such as silicon, due to their electrical properties and sensitivity to external stimuli. These sensors work by utilizing the electrical conductivity or resistance changes that occur in the semiconductor material in response to the detected physical stimulus. Semiconductor sensors are widely used in many applications, including automotive, healthcare, industrial, and environmental sectors, due to their small size, low power consumption, and high sensitivity.
The research report on the semiconductor sensors market offers industry forecasts and segmentation based on type including wireless and wired. It also segments the market by application which comprises consumer electronics, automotive, industrial, and others. Geographically, the report covers North America, Europe, APAC, South America, and the Middle East and Africa. The market size, historical data (2018-2022), and future forecasts are presented in terms of value (in USD billion) for all these mentioned segments.
For More Highlights About this Report, Download Free Sample in a Minute
Increasing demand for smart devices is notably driving market growth. The global semiconductor sensors market is experiencing a surge in demand for smart devices, driven by several factors. The increasing integration of technology into various aspects of end-users' lives, coupled with the growing need for connectivity and intelligent functionalities, has fueled the demand for smart devices that incorporate semiconductor sensors. The growing awareness of environmental sustainability has also driven the demand for smart devices in the global semiconductor sensors market. Energy-efficient solutions are highly sought after, and semiconductor sensors play a crucial role in achieving energy optimization in various applications.
For instance, smart lighting systems use sensors to detect occupancy, adjust the brightness accordingly, and optimize energy consumption. Thus, the abovementioned factors are expected to increase the demand for semiconductor sensors in smart devices, which will propel the growth of the market in focus during the forecast period.
Technological advancements in semiconductor sensor technology are an emerging trend shaping the market growth. Technological advancements in semiconductor sensor technology have significantly impacted the global semiconductor sensors market with advancements in miniaturization, improved performance, and lower power consumption. These advancements have revolutionized the capabilities of sensors and expanded their applications across various industries such as IT, telecommunication, and automotive. Advancements in semiconductor sensor technology have focused on reducing power consumption. Furthermore, technological advancements have facilitated the development of multi-functional sensors. These sensors can simultaneously measure multiple parameters or perform multiple functions in a single device.
Moreover, multi-functional sensors offer significant space and cost savings, as well as improved overall system performance. An example is the development of environmental sensors, which can measure temperature, humidity, and air quality parameters in one compact module, enabling comprehensive environmental monitoring in smart buildings. Thus, the abovementioned factors are expected to increase the demand for semiconductor sensors, which will propel the growth of the market during the forecast period.
The impact of the trade war on the semiconductor industry is a significant challenge hindering the market growth. The global semiconductor sensors market is significantly impacted by trade wars between nations. The most recent one is between the US and China. Both countries levied tariffs and restrictions on multiple goods, including electronic products and integrated circuits (ICs). This has increased the ASP of the ICs and the overall equipment, which integrates these ICs and electric components. This price increase, in turn, is leading to declined demand for these products in the respective markets, which will create a demand-supply imbalance of electric components and ICs in the market. The trade war between the US and China will adversely affect the pricing of most semiconductor components.
Additionally, the prices of dynamic random-access memory (DRAM) and not (NAND) declined in 2020 due to the combined effect of the trade war and oversupply. However, the price decline has led to pricing pressure on semiconductor manufacturers operating at low-profit margins. Such macroeconomic factors have increased the operational risks of the vendors operating in the market during the forecast period. Such factors are expected to negatively impact the growth of the global semiconductor sensors market during the forecast period.
The market share growth by the wireless segment will be significant during the forecast period. Semiconductor sensors are essential components in wireless systems, enabling the collection, processing, and transmission of data without the need for physical connections. This segment is driven by the increasing demand for wireless communication, the growth of the Internet of Things (IoT), and the adoption of wireless sensor networks (WSNs) in various industries such as automotive, consumer electronics, and aerospace.
Get a glance at the market contribution of various segments Download the PDF Sample
The wireless segment was the largest and was valued at USD 4.95 billion in 2018. Moreover, the automotive industry presents significant opportunities for wireless semiconductor sensors. The development of autonomous vehicles, connected cars, and advanced driver assistance systems (ADAS) requires a robust wireless communication infrastructure. Semiconductor sensors such as light detection and ranging (LiDAR), radar, and ultrasonic sensors are used for object detection and distance measurement in ADAS. These sensors enable wireless communication between vehicles and infrastructure, supporting the implementation of smart transportation systems. Thus, the abovementioned advantages are expected to increase the demand for wireless semiconductor sensors, which will propel the growth of the wireless segment in the global semiconductor sensors market during the forecast period.
Semiconductor sensors play a crucial role in enabling various functionalities of consumer electronic devices and enhancing user experiences. This segment is driven by factors such as increasing demand for smart devices, technological advancements, and the integration of semiconductor sensors in everyday products. The demand for semiconductor sensors in the consumer electronics segment is expected to further increase with the emergence of new technologies and trends. The rise of augmented reality (AR) and virtual reality (VR) applications will require advanced sensors for motion tracking and environmental sensing. Additionally, the development of flexible and stretchable sensors opens opportunities for innovative wearable devices with new form factors and functionalities. Thus, the abovementioned advantages are expected to increase the demand for semiconductor sensors, which will propel the growth of the consumer electronics segment in the semiconductor sensors market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the key factors driving the growth of the regional semiconductor sensors market is the presence of leading semiconductor manufacturers. Countries like China, Japan, and Taiwan are home to major semiconductor companies that produce a substantial portion of the world's semiconductor sensors. These manufacturers have established expertise in developing and manufacturing high-quality and cost-effective sensor solutions. Their strong foothold in the market enables them to cater to the growing demand for sensors and facilitate technological advancements in various industries. Additionally, the increasing demand for consumer electronics drives the growth of the semiconductor sensors market in APAC. The region has a large population with a rising middle class and increasing disposable income. This demographic shift has led to a surge in demand for smartphones, tablets, smartwatches, and other electronic gadgets.
In addition, the presence of well-established electronics manufacturing supply chains in APAC contributes to the growth of the regional semiconductor sensors market. The region is known for its robust ecosystem of suppliers, including raw material suppliers, semiconductor manufacturers, and original equipment manufacturers (OEMs). This integrated supply chain facilitates efficient production and distribution of semiconductor sensors, reducing costs and lead times. It enables seamless collaboration between different stakeholders, promoting innovation and driving the growth of the market in focus during the forecast period.
The Semiconductor Sensors Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Semiconductor Sensors Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Eaton Corp. Plc - The company offers semiconductor sensor products such as EVT Series VoltageWatch voltage sensors, and VoltageWatch voltage sensors.
FURUKAWA Co. Ltd. - The company offers semiconductor sensor products through its subsidiary Fuji Electric such as EPL4PC-R3S Pressure Sensors that combines piezo resistance, adjustment circuits, and EMC protection on a single chip and contribute to the reduction of system size.
Infineon Technologies AG - The company offers semiconductor sensor products such as magnetic position sensors for reliable and energy-efficient applications, and Infineon XENSIV magnetic speed sensors with the highest accuracy speed measurement in safety and powertrain applications.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The semiconductor sensors market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2022.
Semiconductor Sensors Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.71% |
Market Growth 2024-2028 |
USD 7.85 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.59 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 45% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Eaton Corp. Plc, FURUKAWA Co. Ltd., Infineon Technologies AG, Littelfuse Inc., Mitsubishi Electric Corp., NXP Semiconductors NV, ON Semiconductor Corp., Renesas Electronics Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., SK Inc., STMicroelectronics International N.V., Taiwan Semiconductor Manufacturing Co. Ltd., Texas Instruments Inc., Toshiba Corp., Vishay Intertechnology Inc., and Wingtech Technology Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.