Sensors Market for Smartphones by Price and Geography - Forecast and Analysis 2022-2026

Published: Sep 2022

Pages: 144

SKU: IRTNTR71853

Snapshot

The sensors market share for smartphones is expected to decrease by USD 578.29 million from 2021 to 2026, at a CAGR of 1.99%.

This sensors market for smartphones 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 the sensors market segmentation for smartphones by price (premium range, medium range, and low range) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The sensors market for smartphones report also offers information on several market vendors, including Alps Alpine Co. Ltd, ams AG, Broadcom Inc., CEVA Inc., Fingerprint Cards AB, Fujitsu Ltd., Murata Manufacturing Co. Ltd., OMNIVISION Technologies Inc., Panasonic Corp, Qualcomm Inc., Robert Bosch GmbH, ROHM Co. Ltd., Samsung Electronics Co. Ltd., Sensirion AG, Shenzhen Goodix Technology Co. Ltd., Sony Group Corp., STMicroelectronics NV, Synaptics Inc., and TDK Corp. among others.

What will the Sensors Market Size for Smartphones be During the Forecast Period?

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Sensors Market for Smartphones: Key Drivers, Trends, and Challenges

The increasing implementation of mobile ar applications by enterprises is notably driving the sensors market growth for smartphones, although factors such as design complexity 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 sensors industry for smartphones. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Sensors Market Driver for Smartphones

One of the key factors driving market growth in the sensors market for smartphones is the increasing implementation of mobile AR applications by enterprises. The marketing and advertising sector is one of the earliest adopters of augmented reality (AR) and is also one of the largest markets for mobile AR. Mobile AR advertising offers direct communication to the consumer by making the product appear more real and by ensuring a more user-friendly environment. The increasing use of AR technology by enterprises in the marketing and advertising sector has led to the integration of depth-sensing 3D cameras and sensors in smartphones by OEMs. Mobile devices, including smartphones, must possess certain features for the efficient functioning of AR. To capitalize on the increasing use of AR technology in the marketing and advertising sector, market participants such as Google and Apple are introducing AR apps for mobile devices. As a result, sophisticated sensors are increasingly being integrated into mobile devices for the superior functioning of AR apps.

Key Sensors Market Trend for Smartphones

The emergence of sensor fusion technology is a sensor market trend for smartphones that are expected to have a positive impact in the coming years. Sensor fusion technology enables smartphones to combine data from different sensors such as gyroscopes, compasses, and accelerometers to calculate elevation, linear translation, gravity, direction, and rotation. It is critical that different sensors can operate efficiently with each other. Sensor-fusion technology is also essential for this interoperability. In this aspect, the vendors in the market are continuously developing algorithm solutions that enable sensors to work more accurately with each other. Sensor fusion solutions are being deployed in smartphones and tablets for AR applications. Combining data from multiple sensors also eliminates most of the deficiencies of individual sensors to calculate the accurate position and orientation information. Thus, the deployment of sensor fusion enables smartphone manufacturers to deploy software to derive accurate results from different types of sensors integrated into their smartphones. Thus, the growth of the global sensors market for smartphones will be driven by the adoption of sensor fusion solutions.

Key Sensors Market Challenge for Smartphones

The design complexity will be a major market challenge for the sensors market for smartphones during the forecast period. Smartphone vendors in the market are integrating several sensors into their smartphones to provide additional features. Some of the features include fingerprint sensing and facial recognition. However, the use of a discrete or standalone sensor will require more board space, which will be detrimental to the miniaturization of devices. With rapid technological advances and the trend of miniaturization, the size of circuits and chips is decreasing continuously, even with a rise in the need for uncompromised performance. Sensor manufacturers need to upgrade their offerings constantly to suit customer requirements. Therefore, they need to invest significantly in procuring equipment to manufacture smart and intelligent sensor ICs. Rapid technological advances are leading to the design complexity of ICs. The increased design complexity makes it difficult for manufacturers to design sensor ICs such as MEMS sensors, ultimately leading to a delay in production and additional expenses

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

Parent Market Analysis

Technavio categorizes the global sensors market for smartphones as a part of the global electronic equipment and instruments market within the overall electronics market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the sensors market for smartphones during the forecast period.

Who are the Major Sensors Market Vendors for Smartphones?

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

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

Product Insights and News

Alps Alpine Co. Ltd - Alps Alpine Co. Ltd is a public company headquartered in Japan. It is a global company generating $6,583.4 million in revenues and has around 36,900 employees. Its revenue from the global sensors market for smartphones contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company.
Alps Alpine Co. Ltd - The company offers sensors for applications such as home appliances, audio-visual equipment, mobile devices and game consoles, helping to bring comfort and convenience.

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

Sensors Market for Smartphones Value Chain Analysis

Our report provides extensive information on the value chain analysis for the sensors market for smartphones, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for the Sensors Market for Smartphones?

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76% of the market’s growth will originate from APAC during the forecast period. China, South Korea, Japan, and Taiwan are the key markets for sensors for smartphones in APAC. Market growth in this region will be faster than the growth of the market in the European regions.

The presence of major smartphone OEMs like Huawei Technologies, Lenovo Group, HTC Corp. (HTC), Guangdong OPPO Mobile Telecommunications, SAMSUNG ELECTRONICS, Xiaomi, and ZTE Corp. (ZTE) in the region will facilitate the sensors market growth for smartphones in APAC 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.

COVID Impact and Recovery Analysis

In 2020 and 2021, the COVID-19 pandemic severely affected the sensors market for smartphones in APAC. Lockdown and social distancing norms adversely impact the supply of smartphones and smartphone sensors. Moreover, the restrictions on trade activities during H1 2020 negatively impacted the supply chain in the market, which affected the growth of the regional market. However, the resumption of smartphone manufacturing plants following the initiation of large-scale COVID-19 vaccination programs in the second half of 2021 helped the market to recover in 2021 and 2022. Such factors are expected to drive the growth of the sensors market for smartphones during the forecast period.

What are the Revenue-generating Price Segments in the Sensors Market for Smartphones?

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The sensor market share growth for smartphones in the premium range segment will be significant during the forecast period. The increasing adoption of HMI technologies in premium-range smartphones drives the demand for sensors. Sensors facilitate the use of HMI technologies. The air gesture feature in smartphones requires the integration of gesture recognition software, sensors, and 3D cameras.

This report provides an accurate prediction of the contribution of all the segments to the growth of the sensors market for smartphone size and actionable market insights on the post-COVID-19 impact on each segment.

Sensors Market for Smartphones Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Decelerate at a CAGR of 1.99%
Market growth 2022-2026	$ 578.29 million
Market structure	Concentrated
YoY growth (%)	2.61
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 76%
Key consumer countries	US, China, South Korea, Japan, and Taiwan
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Alps Alpine Co. Ltd, ams AG, Broadcom Inc., CEVA Inc., Fingerprint Cards AB, Fujitsu Ltd., Murata Manufacturing Co. Ltd., OMNIVISION Technologies Inc., Panasonic Corp, Qualcomm Inc., Robert Bosch GmbH, ROHM Co. Ltd., Samsung Electronics Co. Ltd., Sensirion AG, Shenzhen Goodix Technology Co. Ltd., Sony Group Corp., STMicroelectronics NV, Synaptics Inc., and TDK Corp.
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, and 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.

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What are the Key Data Covered in this Sensors Market for Smartphones Report?

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

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

Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Price
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Price

5.1 Market segments
- Exhibit 24: Chart on Price - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Price - Market share 2021-2026 (%)

5.2 Comparison by Price
- Exhibit 26: Chart on Comparison by Price
- Exhibit 27: Data Table on Comparison by Price

5.3 Premium range - Market size and forecast 2021-2026
- Exhibit 28: Chart on Premium range - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Premium range - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Premium range - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Premium range - Year-over-year growth 2021-2026 (%)

5.4 Medium range - Market size and forecast 2021-2026
- Exhibit 32: Chart on Medium range - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Medium range - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Medium range - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Medium range - Year-over-year growth 2021-2026 (%)

5.5 Low range - Market size and forecast 2021-2026
- Exhibit 36: Chart on Low range - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Low range - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Low range - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Low range - Year-over-year growth 2021-2026 (%)

5.6 Market opportunity by Price
- Exhibit 40: Market opportunity by Price ($ million)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 42: Chart on Market share by geography 2021-2026 (%)
- Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 44: Chart on Geographic comparison
- Exhibit 45: Data Table on Geographic comparison

7.3 APAC - Market size and forecast 2021-2026
- Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.4 North America - Market size and forecast 2021-2026
- Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.5 Europe - Market size and forecast 2021-2026
- Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026
- Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 China - Market size and forecast 2021-2026
- Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

7.9 South Korea - Market size and forecast 2021-2026
- Exhibit 70: Chart on South Korea - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on South Korea - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on South Korea - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on South Korea - Year-over-year growth 2021-2026 (%)

7.10 US - Market size and forecast 2021-2026
- Exhibit 74: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on US - Year-over-year growth 2021-2026 (%)

7.11 Japan - Market size and forecast 2021-2026
- Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)

7.12 Taiwan - Market size and forecast 2021-2026
- Exhibit 82: Chart on Taiwan - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Taiwan - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Taiwan - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Taiwan - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography
- Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 87: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 89: Overview on factors of disruption

9.4 Industry risks
- Exhibit 90: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 91: Vendors covered

10.2 Market positioning of vendors
- Exhibit 92: Matrix on vendor position and classification

10.3 Alps Alpine Co. Ltd
- Exhibit 93: Alps Alpine Co. Ltd - Overview
- Exhibit 94: Alps Alpine Co. Ltd - Business segments
- Exhibit 95: Alps Alpine Co. Ltd - Key news
- Exhibit 96: Alps Alpine Co. Ltd - Key offerings
- Exhibit 97: Alps Alpine Co. Ltd - Segment focus

10.4 ams AG
- Exhibit 98: ams AG - Overview
- Exhibit 99: ams AG - Business segments
- Exhibit 100: ams AG - Key news
- Exhibit 101: ams AG - Key offerings
- Exhibit 102: ams AG - Segment focus

10.5 Fujitsu Ltd.
- Exhibit 103: Fujitsu Ltd. - Overview
- Exhibit 104: Fujitsu Ltd. - Business segments
- Exhibit 105: Fujitsu Ltd. - Key offerings
- Exhibit 106: Fujitsu Ltd. - Segment focus

10.6 Murata Manufacturing Co. Ltd.
- Exhibit 107: Murata Manufacturing Co. Ltd. - Overview
- Exhibit 108: Murata Manufacturing Co. Ltd. - Business segments
- Exhibit 109: Murata Manufacturing Co. Ltd. - Key news
- Exhibit 110: Murata Manufacturing Co. Ltd. - Key offerings
- Exhibit 111: Murata Manufacturing Co. Ltd. - Segment focus

10.7 OMNIVISION Technologies Inc.
- Exhibit 112: OMNIVISION Technologies Inc. - Overview
- Exhibit 113: OMNIVISION Technologies Inc. - Product / Service
- Exhibit 114: OMNIVISION Technologies Inc. - Key offerings

10.8 Panasonic Corp
- Exhibit 115: Panasonic Corp - Overview
- Exhibit 116: Panasonic Corp - Business segments
- Exhibit 117: Panasonic Corp - Key news
- Exhibit 118: Panasonic Corp - Key offerings
- Exhibit 119: Panasonic Corp - Segment focus

10.9 Qualcomm Inc.
- Exhibit 120: Qualcomm Inc. - Overview
- Exhibit 121: Qualcomm Inc. - Business segments
- Exhibit 122: Qualcomm Inc. - Key news
- Exhibit 123: Qualcomm Inc. - Key offerings
- Exhibit 124: Qualcomm Inc. - Segment focus

10.10 Robert Bosch GmbH
- Exhibit 125: Robert Bosch GmbH - Overview
- Exhibit 126: Robert Bosch GmbH - Business segments
- Exhibit 127: Robert Bosch GmbH - Key news
- Exhibit 128: Robert Bosch GmbH - Key offerings
- Exhibit 129: Robert Bosch GmbH - Segment focus

10.11 Samsung Electronics Co. Ltd.
- Exhibit 130: Samsung Electronics Co. Ltd. - Overview
- Exhibit 131: Samsung Electronics Co. Ltd. - Business segments
- Exhibit 132: Samsung Electronics Co. Ltd. - Key news
- Exhibit 133: Samsung Electronics Co. Ltd. - Key offerings
- Exhibit 134: Samsung Electronics Co. Ltd. - Segment focus

10.12 STMicroelectronics NV
- Exhibit 135: STMicroelectronics NV - Overview
- Exhibit 136: STMicroelectronics NV - Business segments
- Exhibit 137: STMicroelectronics NV - Key news
- Exhibit 138: STMicroelectronics NV - Key offerings
- Exhibit 139: STMicroelectronics NV - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 140: Inclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 141: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 142: Research methodology
- Exhibit 143: Validation techniques employed for market sizing
- Exhibit 144: Information sources

11.5 List of abbreviations
- Exhibit 145: List of abbreviations

The market potential of smartphone sensors in Middle Eastern countries such as the UAE is high as industries are proactively implementing smart connected solutions and digital technologies. The increased demand for smartphones and smart city initiatives, as well as improvements in broadband services, are driving the adoption of smartphone sensors in the Middle East. Owing to a rise in the adoption of smartphones in this region, smartphone manufacturers are focusing on setting up more manufacturing plants. The above-mentioned initiatives will increase the partnerships with sensor manufacturers for the integration of advanced sensors, such as fingerprint sensors, to provide advanced functionalities in smartphones at reasonable prices. Further, the digitalization of transport infrastructure is a key enabler for the adoption of smartphone sensors in the Middle East. In addition, increased Internet penetration and the rapid development of mobile communications offer high opportunities for the sensors market for smartphones in Africa. For instance, as of 2021, the Internet penetration in this region was more than 70%. However, MEA will generate much lower demand than other regions, and the market in the region will grow at a slow pace during the forecast period due to the non-availability of the infrastructure required for high-speed Internet. Furthermore, many African countries are expected to show slower adoption during the forecast period due to the lack of infrastructure and connectivity.

of skilled human resource: Test and measurement equipment such as tunable diode laser analyzer (TDLA), optical time-domain reflectometer (OTDR), and process analyzers are required to be used by an expert in chemical and instrumentation engineering. Many of these equipment are used in manufacturing or production process. The individuals using this equipment need to have an overall understanding of the process to operate the equipment efficiently. One of the major challenges to the market is the lack of skilled human resource in the market. In many instances, end-users are not really satisfied with the use of these test and measurement equipment if they were not properly installed, serviced or calibrated properly. This also deters potential buyers to invest in these test and measurement equipment.

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
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Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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