Lucintel Forecasts The Global Sensor Market To Reach $382 Billion By 2030

By Author: Lucintel LLC
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According to the recent study the sensor market is projected to reach an estimated $382 billion by 2030 from $181 billion in 2023 at a CAGR of 10.7% from 2023 to 2030. Growth in this market is primarily driven by growth of internet of things (IoT), increasing need of automation in various industries, and miniaturization of sensors.
Browse 88 figures/charts and 79 tables in this 186-page report to understand trends, opportunities and forecast in sensor market by product type (chemical sensor, temperature sensor, pressure sensor, image sensor, position sensor, bio sensor, flow sensor, level sensor, motion sensor, radar sensor and others), by end use industry (Industrial, healthcare, electronics, automotive, aerospace & defense, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecast that radar sensor is expected to witness the highest growth in the forecast period supported by increasing demand for sensors in advanced driving assistance system (ADAS) applications.
Industrial will remain the largest end use industry due to increased demand for automation ...
... and control in various industries, including oil and gas, chemical, and food & beverages. Healthcare industry is expected to witness the highest growth over the forecast period due to the increasing demand for Electrocardiography (ECG) sensors in cardiac treatment.
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Asia Pacific is expected to remain the largest region during the forecast period due to growth in smart city projects, wearable devices, and increasing demand for ADAS in automotive industry.
Sony Corporation, STMicroelectronics, Analog Devices, Inc., ABB Ltd, NXP Semiconductors, Sensata Technologies, Texas Instruments, Robert Bosch Gmbh, and Infineon Technologies AG are among the major sensor providers.
The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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