Research and Markets has released its Top 10 Sensors Market report, which covers projections for the best-performing sensor types over the next five years.
According to the report, growth in the top 10 sensor markets will be propelled by the increasing advancement toward smaller, smarter and cheaper sensors; the miniaturisation trend in sensors; advent of platforms such as IoT, AR and M2M; and the growing trend toward smart living among end users. The report categorises the top 10 sensor markets on the basis of type, subtype, technology, application, end-user, industry and region.
The market for fingerprint sensors is expected to grow at the highest rate during the forecast period. Fingerprint sensors are expected to witness huge adoption in this application in the near future, and the consumer electronics application (which includes smartphones, laptops, tablets, smart wearable devices, etc.) is expected to hold a large share of the market.
Motion sensors are another sensor type which promises huge opportunities for diverse applications in the current era. The major applications of motion sensors are in consumer electronics, gaming and entertainment, automotive, healthcare and industrial segments. The consumer electronics application holds a promising future for motion sensors with a faster growth rate than that of the overall patent market.
The demand for smartphones and tablets not only with a faster growth rate than that of the overall patent 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. Increasing adoption of technological advances such as MEMS has also played a crucial role in boosting demand for motion sensors.
In 2015, the Asia-Pacific region accounted for the largest share of the top 10 sensors market. In addition, the presence of major industries and companies is driving the demand for sensors in this region. The North American region accounted for the second-largest share of the top 10 sensors market.
Market dymanics
Drivers
- Increased demand from automotive industry
- Government regulations
- Advancement in Micro-Electro-Mechanical-Systems (MEMS) technology
Restraints
- Decreasing cost
- Technical issues related to shock and vibration
Opportunities
- Upcoming ICT-enabled developments
Challenge
- High tariff barriers