Electronic Sensor Market: Current Analysis and Forecast (2022-2028)

Report Description

Global Electronic Sensor Market is expected to grow at a significant rate of around 7% during the forecast period. Electronic sensors are the tools that assist in spotting environmental changes and then delivering the appropriate response. Electronic sensors are useful for detecting physical input such as temperature, motion, heat, pressure, or any other entity and can respond by showing output on a display or sending the data for further processing. Additionally, they are widely used in systems for monitoring floods and water levels, environmental changes, monitoring and controlling, and other things. For instance, in 2022, Sony Semiconductor Solutions to Release the Industry’s First CMOS Image Sensor for Security Cameras That Simultaneously Delivers Full-Pixel Output of Captured Images and High-Speed Output of Regions of Interest.

Sony Group Corporation, Semiconductor Components Industries, LLC, Synaptic, Robert Bosch GmbH, STMicroelectronics N.V, Samsung, Panasonic Holdings Corporation, Toshiba Corporation, AMS, and NXP Semiconductors. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst type, image sensor category to witness robust CAGR during the forecast period”

Based on type, the market is segmented into pressure sensor, temperature sensor, motion sensor, image sensor, proximity sensor, fingerprint sensor, and others. Image sensor category to witness higher CAGR during the forecast period owing to the growing advancement in the technology and increase in the use of mobile and tablets.  Moreover, the image sensor of the camera is responsible for converting the light and colour spectrum into electrical signals for the camera to convert into zeroes and ones

“Amongst Technology, the 4WD to hold a significant share in the market in 2020”

Based on technology, the market is categorized into CMOS, MEMS, NEMS, and others. The MEMS category is to witness higher adoption during the forecast period. MEMS are inertial sensors with high accuracy and low cost that are used in a wide variety of industrial applications. This sensor makes use of micro-electro-mechanical systems, a chip-based technology, and is used to both detect and measure external stimuli like pressure and then react to the recorded pressure by performing a few mechanical operations.

“APAC to hold a significant share in the market”

APAC is anticipated to grow at a substantial CAGR during the forecast period. The growing demand for smartphones around the world, with a focus on feature enhancement to provide a better user experience, is the main factor driving the market for electronic sensors in the consumer industry. The lack of a standardized fabrication process for MEMS-based sensors is the main market limitation. Global demand for and growing use of wearable technology, including VR headsets, smartwatches, and activity trackers, presents opportunities. While temperature, pressure, and level sensors are commonly employed in home appliances, image, motion, proximity, and fingerprint sensors are mostly used in smartphones. For instance, in 2020 TDK and Arrow Electronics inc. prolonged their global distribution agreement regarding InvenSense products

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Electronic Sensor market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Electronic Sensor Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global electronic sensor market were the three major steps undertaken to create and analyze the adoption of electronic sensors in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Electronic Sensor market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Electronic Sensor market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Electronic Sensor market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, drive type, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Electronic Sensor market. Further, we conducted factor analysis using dependent and independent variables such as type, applications, and technology of Electronic Sensors. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Electronic Sensor market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Electronic Sensor market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Electronic Sensor market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Electronic Sensor market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Electronic Sensor market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, applications, and technology in the global Electronic Sensor market.

The main objective of the Global Electronic Sensor Market Study

The current & future market trends of the global Electronic Sensor market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the electronic sensor market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type, applications, and technology
• Define and analysis of the regulatory framework for the Electronic Sensor
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviours of the industry.
• Analyze the current and forecast market size of the Electronic Sensor market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the Electronic Sensor market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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