According to the new market research report “Top 10 Sensors Market by Type (Pressure, Temperature, Image, Motion, Fingerprint, Level, Gas, Magnetic Field, Position, and Light), Technology, Application, End-User Industry, and Region – Global Forecast to 2022”, published by MarketsandMarkets, the market is expected to grow at a significant rate between 2016 and 2022. The growth of this market is propelled by the increasing advancement toward smaller, smarter, and cheaper sensors; miniaturization trend in sensors; advent of platforms such as IoT, AR, and M2M; and growing trend toward smart living among end users.
Image sensors and pressure sensors expected to be the top markets and likely to hold the largest share of the market during the forecast period
Image sensor is used in several applications such as consumer electronics, aerospace and defense, and automotive sectors. The market for image sensors is growing owing to the increasing application base in which it is being implemented. The availability of CMOS-enabled cameras in smartphones has accelerated the growth of the market for consumer electronics. The penetration of image sensors in the healthcare application is witnessing rapid growth for the past few years. The market for pressure sensors is expected to witness steady growth owing to the utility of pressure sensors in various industries. The major applications of pressure sensors are in automotive, medical, industrial, utility, consumer electronics, and oil and gas industries. Of these, the automotive industry is one of the prominent fields holding a promising future for pressure sensors with a higher growth rate than that of the overall parent market.
Market for fingerprint sensors expected to grow at the fastest rate between 2016 and 2022
The market for fingerprint sensors is expected to grow at the fastest rate in the top 10 sensors market. Biometric technology is a part of mobile security that provides secure access to mobile devices as well as allows the validation of e-commerce transactions. Biometric technology is used not only for secured access but also for mobile payments with the help of mobile payment platforms such as Samsung Pay, Apple Pay, ZTE Pay, Alipay, and WeChat Pay. This, in turn, has increased the demand for fingerprint sensors in smartphones. Fingerprint sensors are expected to be widely used in other devices such as laptops, tablets, wristbands, smartbands, USB flash drives, hard disks, smartwatches, printers, desktops, PDAs, mouses, and keyboards.
Market for motion sensors expected to grow at the second-highest rate during the forecast period
The consumer electronics application holds a promising future for motion sensors with a faster growth rate than that of the top 10 sensors market. The demand for smartphones and tablets not only helped the market grow in recent times but would also help boost the market in the next few years. The increase in demand for smartphones and smart gadgets in consumer electronics as well as gaming devices for the interactive gaming and entertainment has played an important role in the growth of the motion sensors market. The demand for motion sensors in the automotive industry is also expected to grow in the coming years as motion sensors are used in airbags as well as driver assistance systems of vehicles. Increasing adoption of technological advances such as MEMS has also played a crucial role in boosting demand for motion sensors. Geographically, APAC dominated the motion sensors market in 2015.
The key manufacturers in the top 10 sensors market include STMicroelectronics (Switzerland), NXP Semiconductors N.V. (Netherlands), TE Connectivity Ltd. (U.S.), Infineon Technologies AG (Germany), Texas Instruments Incorporated (U.S.), Robert Bosch GmbH (Germany), Analog Devices, Inc. (U.S.), ams AG (Austria), Honeywell International, Inc. (U.S.), Sensirion AG (Switzerland), Knowles Electronics, LLC. (U.S.), InvenSense, Inc. (U.S.), Omron Corporation (Japan), ARM Holdings Plc. (U.K.), ABB Ltd. (Switzerland), Emerson Electric Company (U.S.), Siemens AG (Germany), Broadcom Limited (U.S.), and Asahi Kasei Corporation (Japan).