Electronic Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The electronic sensors market is poised for significant growth over the next decade, with a projected size of US$ 50 billion by 2031, according to a comprehensive analysis Fairfield Market Research. This market, which stood at US$ 25 billion in 2024.
Driving Factors:
The proliferation of the Internet of Things (IoT) and the increasing demand for sensor interoperability are key drivers propelling the expansion of the electronic sensors market. This surge in demand is facilitated by the adoption of robotics across various industries, including automotive, healthcare, and industrial sectors.
Expanding Applications:
Electronic sensors find applications in a wide range of industries, with consumer electronics such as smartphones and televisions leading the pack, followed closely by automotive and IT & communication sectors. The growing popularity of IoT-based applications and smart wearable devices is further fueling the demand for electronic sensors.
Regional Opportunities:
Asia Pacific emerges as a significant opportunity for electronic sensor companies, with the region expected to surpass US$ 26 billion by 2031. This growth is driven by the presence of major consumer electronics manufacturing hubs, particularly in China, India, Vietnam, Taiwan, and the Philippines.
Country-wise Insights:
• United States of America: The US electronic sensors industry is projected to reach US$ 7.1 billion by 2031, driven by the expanding smartphone user base and the increasing demand for unique sensor functionalities.
• United Kingdom: With a significant smartphone industry and rising popularity of electronics, the UK electronic sensors sector is expected to be worth US$ 1.2 billion by 2031.
• China: A dominant player in automobile and smartphone manufacturing, China's electronic sensors market is set to reach US$ 13.6 billion by 2031.
• Japan: With a thriving market for smartphones and automobiles, Japan's electronic sensors industry is forecasted to be worth US$ 8.3 billion by 2031.
• South Korea: A prominent manufacturer of automobiles, South Korea's electronic sensor market is expected to reach US$ 3.1 billion by 2031.
Category-wise Insights:
• Image Sensors: Expected to exhibit a CAGR of 8.6%, driven by increasing demand for high-resolution cameras in surveillance systems and smartphones.
• Communication and IT: Dominating the global electronic sensors market with steady growth driven by increasing demand from millennials and the continuous shift towards Industry 4.0.
Competitive Landscape: Leading players in the global electronic sensors market are investing in the development of advanced technologies to meet the rising demand. Expansion of production capacities and strategic collaborations are key strategies adopted by these players to maintain their competitive edge.
Key Companies Profiled
• Sony Corporation
• Samsung Electronics Co. Ltd.
• STMicroelectronics N.V.
• NXP Semiconductors N.V.
• TE Connectivity Ltd.
• Murata Manufacturing Co., Ltd.
• Robert Bosch GmbH
• Infineon Technologies AG
• Synaptics Incorporated
• Omron Corporation
Electronic Sensors Market Outlook by Category
By Type:
• Pressure Sensor
• Temperature Sensor
• Motion Sensor
• Image Sensor
• Proximity Sensor
• Fingerprint Sensor
By Application:
• Entertainment
• Communication & IT
• Home Appliances
• Wearable Devices
By Region:
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa
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