ICT & Electronics Global Sensor Market | Page 2

The global sensor market is segmented into type such as process variable sensors,
physical property sensors, proximity & positioning sensors, chemical property
sensors, electrical property sensors, imaging sensors, and other sensors &
transducers. Further, process variable sensors segment is sub-segmented into
pressure sensors, temperature sensors, flow & level sensors and others. Among
these segments, process variable sensors segment is expected to occupy the top
position in the market. Further, wide application of process variable sensors in
different sectors is believed to foster the growth of global process variable sensors
market.
Global sensor market is expected to register a noteworthy CAGR of 9.2% over the
forecast period i.e. 2015-2021. Moreover, the global sensor market is projected to
reach at USD 140 Billion by 2021. The sensor market is expected to expand on
the back of increasing usage of sensors to build smart infrastructure coupled with
rapid urbanization.
The automotive segment by technology is predicted to account the biggest market
in overall sensor market. Further, robust expansion of automotive industry
across the globe coupled with continuous technological advancement of vehicles
is one the major factor bolstering the global market of sensors. In terms of
regional platform, North America region is anticipated to grasp the leading
position in the global sensor market. Moreover, U.S. is the dominating country in
the region, witnessing a CAGR of 6% during the forecast period.
Rising Application in End Use Industries
In recent years, sensor market witnessed huge growth in various end use
industries due to the elevated adoption of sensors in industries for the application
of communication devices, home appliances, automotive and others. This factor
is likely to impel the growth of the sensors market during the forecast period.
Furthermore, wide utilization of sensors in healthcare sector is also envisioned to
bolster the growth of sensors market globally. Moreover, favorable government
initiatives to boost the healthcare sector are believed to positively impact the
growth of global sensors market.
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