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The North America sensor market is showing big changes that highlight how important these technologies are in many fields. One big change is the growing use of internet things (IoT). In this, sensors are very important for making linked environments. People want smart homes, factories and cities that run on their own. This means putting sensors in many devices to collect real-time information quickly for better decisions making about efficiency.
In car-making, the move to electric and self-driving cars is changing how sensors are sold in North America. High-tech car helpers and self-driving cars depend a lot on detectors like LiDAR, radar and cameras to see what's around them. This change shows the industry's promise to make cars safer, help with direction and set up self-driving transport of tomorrow. Health and wellness are main points of interest in the North America sensor market, especially with wearable devices and health checking tools being used. Sensors in smartwatches, fitness trackers and other wearable things collect important health information. This lets people keep an eye on how they feel while also encouraging them to actively care for their health. This direction matches with the increasing buyer interest in their own health and fitness, pushing new ideas for sensor technologies in the market of wellness.
The big businesses are seeing a change called Industry 4.0, where they connect gadgets and technology to make smart factories that use sensors. Sensors help make, watch over and improve making things. They raise production speed while cutting time when machines stop working. Using sensors in factories is how the industry shows they're ready for digital change. They want to be perfect by using information from data. The market for sensors in North America is changing, and now puts a big focus on using them to watch the environment so it stays healthy. This makes sure we take care of our planet better. Air quality sensors, water quality sensors and other environmental ones are used in smart cities or factories. They help measure the harm of human actions on nature and then reduce this impact.
Covered Aspects:
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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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