Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
One of the primary drivers moving this market forward is the comprehensive mix of sensor hubs in consumer electronic gadgets. The rising interest for smartphones, wearables, and other smart gadgets has prompted a surge in the reception of sensor hubs. These hubs assume a significant part in overseeing and handling information from various sensors inside a gadget, adding to further developed practicality and improved client encounters.
Besides, the developing pattern of Internet of Things (IoT) gadgets is a key variable impacting the Sensor Hub market. As additional gadgets become interconnected, the requirement for productive information handling and management becomes paramount. Sensor hubs go about as a focal handling unit for sensor information, working with consistent communication and collaboration between various IoT gadgets. This has prodded the interest for sensor hub arrangements across businesses going from smart homes to modern computerization.
The auto business is a critical supporter of the development of the Worldwide Sensor Hub market. Present day vehicles are outfitted with many sensors for capabilities like ADAS, in-lodge observing, and environment detection. Sensor hubs assume a significant part in handling and dealing with the information produced by these sensors, adding to the general knowledge and security highlights of vehicles.
Besides, the rising spotlight on wellbeing and wellbeing is cultivating the reception of sensor hubs in healthcare applications. Wearable gadgets outfitted with various sensors for following crucial signs, active work, and other security related information depend on sensor hubs for proficient information handling. This has prompted the combination of sensor hub innovation in wellness trackers, smartwatches, and other health observing gadgets.
International monetary variables can impact the Sensor Hub market also. Financial circumstances, customer spending examples, and exchange approaches might affect the creation and reception of gadgets that integrate sensor hub innovation. Uncertainties in worldwide markets might impact the interest for smartphones, wearables, and other electronic gadgets, consequently influencing the Sensor Hub market.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2023 | USD 30.3 billion |
| Growth Rate | 18.09% (2024-2032) |
Sensor Hub Market Highlights:
Global Sensor Hub Market Overview:
Sensor Hub Market Size was valued at USD 30.3 Billion in 2023. The sensor hub market industry is projected to grow from USD 36.63 Billion in 2024 to USD 138.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.09% during the forecast period (2024 - 2032). The sensor hub processes data using multiple sensors for multipoint control, providing excellent direction, proximity, altitude, and touch sensing capabilities are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Sensor Hub Market Trends
-
Demand for low-power producing systems is rising across a variety of industry sectors, propelling market growth
The rise in demand for low-power producing systems across several industry verticals is one of the main reasons boosting the sensor hub market CAGR. The market is expanding more quickly due to the constant rise in embedded sensors in smartphones, laptops, tablets, televisions, and security systems as well as high sensor utilization in situations where several sensors are needed to complete a task. The increased use of 6-axis and 9-axis sensor solutions or sensor fusion within devices, as well as the rise in manufacturing firms embedding a sensor hub in their mobile devices to help with continuously collecting sensor data while keeping the main processor idle and thus saving a mobile device's battery life, all have an impact on the battery life of a device.
Additionally, the market for sensor hubs has benefited from growing urbanization and industrialization, increased demand for new technologies, and the expansion of the electronic devices industry. Additionally, during the anticipated period, advancements in wearable technology and end-use consumer electronics applications offer lucrative opportunities for market participants.
On the other hand, the absence of a direct interface between the sensor hub and the application processor is predicted to make it harder to solve field problems, which would hinder market growth. The technical difficulty of sensor hub deployment is anticipated to hinder the expansion of the sensor hub market during the anticipated period. The proper integration of sensor hubs in items calls for advanced technical knowledge. The ease of connecting sensors with microcontrollers and full sensor hub systems must receive more attention if the sensor hub market is to prosper.
Sensor Hub Market Segment Insights:
Sensor Hub Type Insights
The sensor hub market segmentation, based on type includes gyro sensors, hall sensors, proximity sensors, temperature sensor and magnetic sensors. During the projected period, the proximity sensors category is expected to be the largest market share. A proximity sensor is a non-contact sensor that detects the presence of an object (commonly referred to as the "target") when it enters the sensor's field. Depending on the type of proximity sensor, sound, light, infrared radiation (IR), or electromagnetic fields may be used to detect a target. Proximity sensors are used in phones, recycling factories, self-driving cars, anti-aircraft systems, and production lines.
Figure1: Sensor Hub Market, by Type, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Sensor Hub Application Insights
The sensor hub market segmentation, based on application, includes positioning and navigation, health and fitness, augmented reality. The market is dominated by augmented reality. Augmented reality is used to either aesthetically alter natural environments or to give users with supplementary information. The fundamental advantage of AR is that it blends digital and three-dimensional (3D) components with a person's view of the real environment. AR has a wide range of applications, from decision-making to entertainment. AR provides the user with visual elements, sound, and other sensory information via a device such as a Smartphone or glasses. This data is superimposed on the device to create an integrated experience in which digital data influences the user's vision of the actual environment. Overlaid information can be used to supplement or disguise a natural environment.
Sensor Hub Regional Insights
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. North America dominated the Sensor Hub Market. Because of the increased awareness of driver safety and the impact of regulations and safety ratings on original equipment manufacturers (OEMs), technologies such as advanced driver-assistance systems (ADAS) are being widely implemented by manufacturers, boosting the Sensor Hub Market in this area.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: SENSOR HUB MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s sensor hub market accounts for the second-largest market share due to increased investment in the creation of new sensor hubs and internet of things related technology. Further, the German sensor hub market held the largest market share, and the UK sensor hub market was the fastest-growing market in the European region
The Asia-Pacific Sensor Hub Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to growing electronic device manufacturing industries, as well as increasing digitalization, are likely to drive the sensor hub market forward. Moreover, China’s sensor hub market held the largest market share, and the Indian sensor hub market was the fastest-growing market in the Asia-Pacific region.
Sensor Hub Key Market Players & Competitive Insights
Leading market players are extensively spending in R&D to increase their product lines, which will help the sensor hub market, grow even more. Market participants are also engaging in a number of strategic initiatives to grow their worldwide presence, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. To expand and compete in a more competitive and expanding market climate, the sensor hub industry must provide cost-effective products.
Manufacturing locally to reduce operational costs is one of the primary business strategies employed by manufacturers in the sensor hub industry to serve customers and expand the market sector. Some of the biggest benefits to medicine in recent years have come from the sensor hub industry. Major players in the sensor hub market, such as NXP Semiconductors N.V (Netherlands), Microchip Technology Inc. (US), Intel Corporation (US), Analog Devices Inc. (US), Broadcom Limited (US), Memsic inc. (US), and others, are making investments in their research and development efforts in an effort to boost market demand.
Renesas Electronics Corporation is a Japanese electronics company. Runesasu Erekutoronikusu Kabushiki Gaisha) is a Japanese semiconductor manufacturer headquartered in Tokyo, Japan. It was founded in 2002 as Renesas Technology, a consolidated entity of Hitachi and Mitsubishi's semiconductor units excluding their dynamic random-access memory businesses,[4] with which NEC Electronics merged in 2010, resulting in a minor change in the corporate name and logo.Renesas was one of the world's six largest semiconductor businesses from the 2000s to the early 2010s. It is the world's third-biggest automotive semiconductor manufacturer and the largest supplier of microcontrollers as of 2022.In addition, the company has a foothold in the markets for analog and mixed-signal integrated circuits, memory devices, and SoCs. June 2022 - Renesas Electronic Corporation announced the development of sensor solutions for IoT applications. Renesas is also launching the ZSSC3281 sensor signal conditioning (SSC) IC for highly accurate amplification, digitization, and sensor-specific correction of sensor data in addition to the new HS4XXX family of relative humidity and temperature sensors.
Sick AG (or SICK, as the business spells it) is a manufacturer of sensors and sensor solutions for industrial applications situated in Waldkirch (Breisgau), Germany. The company is involved in manufacturing and logistics automation, as well as process automation. The company employs around 10,344 people worldwide and expects to generate EUR 1,7 billion in sales in 2020. In August 2022 - Sick AG and Aeva, a provider of lidar, sensing, and perception systems, have committed to a multi-year collaboration to incorporate Aeva's FMCW (frequency-modulated continuous wave) 4D lidar into a number of industrial sensing applications, starting with Aeries II. This collaboration represents a significant advancement in the advancement of high-performance and durable FMCW-based sensing across a wide range of industrial applications.
Key Companies in the sensor hub market include
-
Texas Instruments inc. (U.S)
-
Invensense Inc. (U.S)
-
Rohm Co. Ltd. (Japan)
-
Infineon Technologies AG (Germany)
-
NXP Semiconductors N.V (Netherland)
-
Microchip Technology Inc. (US)
-
Intel Corporation (U.S)
-
Analog Devices Inc. (U.S)
-
Broadcom Limited (U.S)
-
Memsic inc. (US)
-
Qualcomm Technologies (U.S)
-
Robert Bosch GmbH (Germany)
Sensor Hub Industry Developments
In September 2022, DENSO Corporation revealed that it had increased the detecting angle of its vision sensor to improve road safety. This will enable the sensor to identify bicycles and people near a car better.
In May 2022, Advanced global-shutter image sensors from STMicroelectronics were available for reliable, cost-effective driver monitoring safety systems. Using investment in cutting-edge 3D-chip technology, the second-generation automobile global-shutter image sensor streamlines the design of driver monitoring systems (DMS).
In March 2022, the brand-new barometric pressure sensor BMP581 was presented by Bosch Sensortec. The new Bosch BMP581 sensor provides a new level of accuracy while building on the excellent performance and low power consumption of earlier generations of Bosch sensors.
Sensor Hub Market Segmentation:
Sensor Hub Types Outlook
-
Gyro Sensors
-
Hall Sensors
-
Proximity Sensors
-
Temperature Sensor
-
Magnetic Sensors
Sensor Hub Application Outlook
-
Positioning and Navigation
-
Health and Fitness
-
Augmented Reality
Sensor Hub Regional Outlook
-
North America
-
US
-
Canada
-
Europe
-
Germany
-
France
-
UK
-
Italy
-
Spain
-
Rest of Europe
-
Asia-Pacific
-
China
-
Japan
-
India
-
Australia
-
South Korea
-
Australia
-
Rest of Asia-Pacific
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
