The sensor market share is expected to increase by USD 219.90 billion from 2021 to 2026, at a CAGR of 16.81%.

This sensor market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers sensor market segmentation by end-user (electronics, IT and telecom, automotive, industrial, and others) and geography (North America, APAC, Europe, MEA, and South America). The sensor market report also offers information on several market vendors, including Amphenol Advanced Sensors, Bosch Sensortec GmbH, Dwyer Instruments Inc., Honeywell International Inc., Panasonic Corp., Rockwell Automation Inc., Siemens AG, STMicroelectronics NV., TE Connectivity Ltd., and Texas Instruments Inc. among others.

What will the Sensor Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Sensor Market Size for the Forecast Period and Other Important Statistics

Sensor Market: Key Drivers and Trends

The rise in demand for IoT technology-based devices is notably driving the sensor market growth, although factors such as network embedded systems may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the sensor industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Sensor Market Driver

The rise in demand for IoT technology is one of the key drivers supporting the sensor market size growth. The IoT technology facilitates the connection of numerous smart gadgets to prompt their operations and data sharing among themselves. Also, the growing need for data analysis and analytics integration is likely to boost the use of IoT-based devices. Meanwhile, it offers energy efficiency, security and surveillance, supply chain optimization, inventory optimization, and labor management. Furthermore, IoT is improving its cold chain monitoring skills for temperature-sensitive food and pharmaceutical commodities. As a result, the increased use of IoT-based devices will boost the market for sensors throughout the forecast period.

Key Sensor Market Challenge

Network embedded systems may hamper the sensor market size growth during the forecast period. Embedded networking is concerned with network architecture and topology, hardware devices, and communication/data exchange protocols required to link and transmit information across embedded systems. Network embedded systems are currently utilized in a wide range of smart gadgets and electronic goods, and they are linked with other devices to deliver valuable measured communication and knowledge instructions via wireless sensing networks. On the other hand, integrating sensors into a gadget raises the cost and shortens the device's life. As a result, this issue may have a major negative influence on market growth over the forecast period.

This sensor market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Sensor Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Amphenol Advanced Sensors
• Bosch Sensortec GmbH 
• Dwyer Instruments Inc.
• Honeywell International Inc.
• Panasonic Corp.
• Rockwell Automation Inc.
• Siemens AG
• STMicroelectronics NV.
• TE Connectivity Ltd.
• Texas Instruments Inc.

This statistical study of the sensor market encompasses successful business strategies deployed by the key vendors. The sensor market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The sensor market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects. 

Which are the Key Regions for Sensor Market?

For more insights on the market share of various regions Request for a FREE sample now!

39% of the market's growth will originate from North America during the forecast period. The US is the key market for the sensor market in North America. Market growth in this region will be slower than the growth of the market in APAC.

The rapid growth of the consumer electronics, industrial, automotive, and healthcare sectors will facilitate the sensor market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Sensor Market?

To gain further insights on the market contribution of various segments Request for a FREE sample

The sensor market share growth by the electronics segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the sensor market size and actionable market insights on the post-COVID-19 impact on each segment.

You may be interested in:

Temperature Sensors market - The market analysts estimate the market will grow steadily at a CAGR of almost 12% by 2021.

Industrial Sensors market - The market has the potential to grow by USD 21.26 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 8.19%.

Request for a FREE sample

What are the Key Data Covered in this Sensor Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive sensor market growth during the next five years
• Precise estimation of the sensor market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the sensor industry across North America, APAC, Europe, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of sensor market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch