Sensor Market Size to Reach USD 293 Billion by 2027 - Digital Journal

The global sensor market size is projected to reach around USD 293 billion by 2027, growing at a CAGR of 9.8% from 2020 to 2027.

Factors such as advancement in sensors technologies and rise in usage of smartphones and other electronics devices, advancements in automation sector, increase in demand for sensors in development of smart cities, and surge in IoT technology are expected to fuel the growth of the sensor market. However, extra cost incurred due to incorporation of the sensors in devices and reduction in life of the device are expected to hinder the market growth. Conversely, surge in adoption of wearable devices, innovative applications in the biomedical sector, and rise in advancements in the automotive sector are expected to offer lucrative opportunities for the sensor market.

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Segmentation

By Type

  • Radar Sensor
  • Optical Sensor
  • Biosensor
  • Touch Sensor
  • Image Sensor
  • Pressure Sensor
  • Temperature Sensor
  • Proximity & Displacement Sensor
  • Level Sensor
  • Motion & Position Sensor
  • Humidity Sensor
  • Accelerometer & Speed Sensor
  • Others

By Technology

  • CMOS
  • MEMS
  • NEMS
  • Others

By End User

  • Electronics
  • IT & telecom
  • Industrial
  • Automotive
  • Aerospace & Defense
  • Healthcare
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa
...

Read Full Story: https://www.digitaljournal.com/pr/sensor-market-size-to-reach-usd-293-billion-by-2027

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