Global Sensors Technology and Markets Report 2021: Market is Estimated to Grow from $205.2 Billion in 2021 to Reach $411.2 Billion by 2026

Dublin, Nov. 16, 2021 (GLOBE NEWSWIRE) -- The "Sensors: Technologies and Global Markets 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global market for sensors is estimated to grow from $205.2 billion in 2021 to reach $411.2 billion by 2026 at a compound annual growth rate (CAGR) of 14.9% during the forecast period of 2021-2026.

• The global market for internet of things (IoT) sensors is estimated to grow from $17.6 billion in 2021 to reach $50.9 billion by 2026 at a CAGR of 23.6% during the forecast period of 2021-2026.

• The global market for biosensors is estimated to grow from $23.5 billion in 2021 to reach $49.7 billion by 2026 at a CAGR of 16.2% during the forecast period of 2021-2026.

Report Scope

Market demand for sensors will be fueled by increases in motor vehicle and machinery production, growth in the shipment of process equipment, government regulations (e.g., requiring all new light vehicles to be equipped with electronic stability control and tire pressure monitoring systems) and growth in process manufacturers' shipments.

Development of new applications for technologies such as microelectromechanical systems (MEMS), optoelectronics and photo-electronics will help to expand the sensor market. The maturity of many sensor markets and improved fabrication techniques have led to increased sensing abilities at lower costs, and this will also help to increase the market growth.

Implantable sensors, self-powered sensors (e.g., sensors that convert body movement to mechanical energy and muscle stretching into electricity), biosensors, MEMS and nanosensors are expected to revolutionize the healthcare industry in the next decade.

There has been considerable demand for many different types of sensors for medical applications, as there are numerous applications for sensors in the medical field for detecting and measuring physical, mechanical, chemical and electromagnetic parameters. Different parameters must be monitored, so several sensor types are used in medical applications.

From the simplest (monitoring body temperature) to the most complex (MEG/MCG systems) applications, pressure, temperature, flow, encoder, SQUID, accelerometer, image and biosensors sensors are used. Biosensors generated the bulk of the total revenues.

Moreover, sensors will be used in most cars as they decrease in price and increase in integration. Users will start accepting them as standard car parts, and automotive companies can integrate more intelligence into them until they achieve the goal of an autonomous car.

A modern automobile can perform many driver-assistance tasks, such as avoiding and preventing accidents and reducing the severity of accidents. The vehicles have passive safety systems, such as airbags and seat belts; active safety systems, such as electronic stability control, adaptive suspension, and yaw and roll control; and driver-assistance systems, including adaptive cruise control, blind-spot detection, lane-departure warning, drowsy-driver alert and parking assistance.

The report also focuses on the major driving trends and challenges that affect the market and the vendor landscape. This report explains the competitive landscape and current trends in the sensors market, concluding with an analysis of the vendor landscape and including detailed profiles of major players in the global sensor market.

The Report Includes

• Analyses of the global market trends, with data from 2020, estimates for 2021, 2022 and 2024, and projections of compound annual growth rates (CAGRs) through 2026

• Evaluation and forecast the overall sensors market size in dollar value terms, and corresponding market share analysis by technology, application, end-use industry, and region

• Latest information on major market dynamics (DROs), technology advancements, industry structure, regulatory scenario, and other significant factors affecting the sensors applications market growth

• Understand the upcoming market opportunities and areas of focus to forecast the market into various segments

• Insight into the impact of the COVID-19 pandemic on the sensors industry

• Review of patents and new developments in the sensors industry, and number of U.S. patent grants for innovations in sensor technologies across each major category

• Details of recent industry strategies such as key M&A deals, agreements, collaborations and joint ventures within the sensors industry

• Competitive landscape of the key industry participants operating within the global sensors market, and their company share analysis

Major Trends in Market

• IO-Link: The Intelligent Communication Technology

• Data Storage

• Remote Configuration & Monitoring

• Diagnostic Capabilities

• Reduced Wiring

• Industry 4.0

• Miniaturization

• Sensors Will be Self-Learning

• Sensor Fusion

• Shortage of Semiconductor Chips Across Industries

Profile descriptions of the leading industry players, including

• Accel AB

• ams AG

• Delphi Automotive PLC

• Endress+Hauser

• Hitachi Automotive Systems

• Honeywell Sensing and Controls

• Mitsubishi Electric Corp

• NXP Semiconductors

• Omron Corp

• Robert Bosch GmbH

• Rockwell Automation Inc

• STMicroelectronics

• Texas Instruments Inc

For more information about this report visit https://www.researchandmarkets.com/r/gnu058

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