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The North America sensor market is affected by some important things that together control its movement and growth. A key thing is that more and more people want smart gadgets in different fields. As North America accepts change to digital, sensors are very important. They help make smart worlds by giving real-time information for making choices. Putting sensors in things like smart homes, factories and health care shows that people want linked solutions to make them work better. These also improve how users do their tasks and feel about it.
Technology changes push market things in the North America sensor market. New tech keeps growing what sensors can do. The way sensors get better with things like Internet of Things (IoT) connections, edge computing and artificial intelligence (AI) is making them more useful. They can be used in all industries because they've improved this much. This point shows that the market responds well to improvements which allow smarter and linked systems, making sensors main parts in this age of digital change. The car business is a big thing that affects the sensor market in North America. The move towards electric cars (EVs) and the growth of self-driving technology increase the need for sensors in vehicles. LiDAR, radar and cameras help make assist systems for drivers (ADAS) better. They also support the change towards cars that can drive themselves. This part shows how much the car business cares about making driving safer, easier to guide and better overall by using thing like sensors.
The North America sensor market is also greatly affected by healthcare. The use of sensors in health care, like wearable devices, checking patients from a distance and medical test tools helps to the increasing fad of looking after our own well-being. Sensors help gather health details in real time, giving people the power to follow their wellness. This allows for better personal healthcare advancements. This thing is related to the growing attention on stopping and active health efforts. This makes people want new sensor ideas more. Business use is very important for market points, especially with the growth of Industry 4.0. Using sensors in making things and controlling factories helps to create smart factory trends.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â Â 10.6% (2032 |
North America Sensor Market Highlights:
Market Scenario:
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).
IOT or Internet of things can be defined as a real environment where the objects will be connected via the Internet. These objects are very intelligent in nature and holds the capabilities of sensing the environment and taking the necessary action. IOT plays very vital role in the development and growth of the sensor market. Sensors are used to embed Internet of Things (IoT) functionality into a wide range of systems and objects. The Internet of Things (IoT) is cannot exist without smart sensors which in result is boosting the sensors market. The ongoing deployment of LTE and technological advancements in various fields have boosted the number of connected devices. The connected devices consist of numerous devices such as sensors, smart phones, tablet computers, laptops, and desktop personal computers. The trend of a high attraction towards connectivity is observed worldwide. The emergence of new technologies like ZigBee, which works on inexpensive batteries, improves comfort in the development of connected devices. Emergence of new applications and technological advancements in the field of wireless connectivity technologies such as general packet radio service (GPRS), Wi-Fi, and worldwide interoperability for microwave access (WiMax) are increasing the number of connected devices.
Growing trend of IoT and increasing number of connected devices, Growing Demand from automation, growth in virtual reality Market, ongoing development of smart cities and increasing security concerns are some of factors driving the market growth. However, dynamic nature of semiconductor industry is one of crucial factor hindering the market growth during forecast period 2017-2023.
Market Segmentation
The North America Sensor market has been segmented on the basis of type, technology, connectivity, and end-user. By type, the market is further segmented into flow sensor, image sensor, touch sensor, position sensor, temperature sensor, motion sensor, light sensor, pressure sensor, proximity sensor, and optical sensor. By technology, the sensors market is sub segmented into System on chip, System on Package, Hybrid Technology, CMOS Process, IC Compatible 3D Micro Structuring, Machine Vision, and, Vision Sensing. By connectivity, the sensors market is segmented into wired and wireless. The sensors market is segmented on the basis of verticals into different verticals as industrial, medical, automotive, consumer electronics and aerospace & defence.
Key Findings
By Type: Image sensor is dominating the market and has generated USD 5 billion market value in 2016 in North America. Whereas, Position Sensor and Proximity Sensor is expected to drive the market in coming years with 18% and 15% CAGR, respectively.By Technology: CMOS Process technology is dominating the North America sensor market by generating highest revenue in 2016. Whereas, Hybrid technology and Vision sensing technology is projected to drive the market in North America with 17% and 15% CAGR, respectively.By Connectivity: Wired connectivity is dominating the sensor market in North America by generating highest revenue in 2016. Whereas, wireless connectivity is expected to pace the North America market in coming years growing with 13.52% CAGR.By End-User: Industrial sector is dominating the sensor market in North America and has generated highest revenue of USD 6.7 billion in 2016. Whereas, aerospace & defence followed by medical sector is projected to drive the market in North America with 16% and 13% CAGR, respectively.By Geography, U.S. is dominating the Sensor Market followed by Canada and Mexico.
Regional Analysis
North America Sensor market, by region is led by North America in 2016 due to the technological advancement and developed network architecture. Also, increasing rate of smartphone usage is fuelling the market growth in North America region. U.S. is dominating the market and is expected to grow with 12% CAGR. Whereas, Canada is estimated to grow with fastest growing 15% CAGR.
The prominent players in the North America Sensor Market are Delphi Automotive LLP (U.K.), ABB Ltd. (Australia), Analog Devices, Inc.(U.S.), Honeywell International, Inc. (U.S.), Bosch Group Gmbh (Germany), Meggitt Sensing Systems (U.S.), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), STMicroelectronics and, Infineon Technologies AG (Germany)
Intended Audience
- Sensor providers
- Sensor operators
- Transit agencies
- Investors
- Research institute
- End users
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