North America Sensor Market is expected to grow up to 194.874 Billion USD by 2032

Pune, India, January 10, 2018 /MRFR Press Release/- Market Research Future published a cooked research report on North America Sensor Market.

Market Highlights

The North America Sensor Market is expected to account for USD 78.932 Billion in 2022 and is expected to surpass USD 194.874 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.6% during the forecast period (2022-2032).

Increasing need for security in today’s world is a major factor driving the growth of sensor market. North America region is very much concerned about their security and have very strict rules for security. To monitor terrorist attacks and maintain secured atmosphere in and around the city, high resolution cameras are a must. The growing awareness about security and surveillance is one major factor driving the growth of sensors market. Furthermore, there are different sensors such as image sensors, touch sensors, motion sensors, fingerprint sensors and others that are of great importance for security and surveillance purposes to keep track of people, monitor the area and also help in catching thieves. The night vision sensors are also available which can be implemented at residential areas and even at corporate sectors for surveillance purpose. Therefore the increasing security concerns are boosting the North America sensors market.

According to MRFR analysis, Bosch Group is the leading company in Sensors Market. It is a leading industry in automotive sector and has excellent technical capabilities. The company provide wide range of sensor products to industries. Also, it has built strong corporate network by partnerships with different companies to increase their sales. It has strong market position and has large customer base which thereby supporting its hold on Sensors Market.

Regional Analysis

The competitive landscape of North America Sensor market is formed by major players of the market and some of the new entrants. North America leads the market for North America Sensor market. The technical advancements in the region, developed network architecture and high adoption rate of sensors by automotive and industrial sector are driving the growth in North America Sensor market.

The North America Sensor market has led by U.S. in 2016 by generating highest revenue of USD 11 billion and is expected to grow with 12% CAGR. Whereas, Canada is projected to be the fastest growing country with 15% CAGR during forecast period 2017-2023.

U.S. Sensors Market, by type has dominated by image sensor in 2016 and is expected to generate market value of USD 5 billion by 2023 growing with 11.24% CAGR. Followed by touch sensor, pressure sensor, and temperature sensor, respectively in 2016. These sensors are projected to grow with 9.06% CAGR, 7.94% CAGR and 12.53% CAGR, respectively. Position sensor, and proximity sensor are expected to mount with fastest growing 18.28% and 14.91% CAGR, respectively.

Some of the key players in the market are Infax, Inc. (U.S.), Passio Technologies, Inc. (U.S.), General Electric Company (U.S.), Huawei Technologies Co. Ltd (China), DTI Group (Australia), Cubic Transportation Systems (U.S.), Siemens AG (Germany), Advantech Corporation (Taiwan), Medha Servo Drives Pvt. Ltd (India) and Neusoft Corporation (China).