The sensors market is in its formative stage and it has a huge growth potential across various industry verticals such as IT, communication devices, entertainment and home appliances. This report enumerates various opportunities to boost the adoption of sensors by end-users. Information regarding various barriers and recent developments would help new entrants design effective strategies such as small product size with low power consumption. The study of the sensors market projects a revolutionary trend of growth in the years to come. The demand for sensors would also be boosted due to the demand for navigation technology with strong precision, especially for global tracking and indoor asset.
The single largest driver for sensors in consumer electronics is the substantial growth of the tablets and mobile phones market due to increased R&D in this segment. Another driver is the consumer’s preference for wearable devices. Wearable devices are used in everything from gesture detection to health sensors at fast rate. Other drivers for the market are indoor navigation applications, demand for PCs, need for surveillance cameras and demand for games with high accuracy motion sensors. In spite of sensors, being used everywhere; the sensors market has some restraints. The market restraints are availability of alternatives at low cost, lack of product differentiation, competition amongst available technologies and lack of responsiveness during performance. Opportunities for the sensors market are media and retail applications, curved touch sensors and use of capacitive sensors in Nanotechnology.
The sensors market in consumer electronics is analyzed based on its segmentation by product type, by application and by geography.
Sensors Market by Product Type Analysis
The sensors market is segmented according to product into touch, image, motion, temperature, position and pressure. Image sensors dominate the product segment as they are popular in applications such as security and surveillance, machine vision, automobile drive assistance and healthcare sector.
Sensors Market by Application Analysis
The sensors market is segmented by application into entertainment, I.T., communication products and home appliances. Among all these applications communication products generates the most revenue because of the growing global demand for PDAs and mobile phones.
Sensors Market by Geographic Analysis
A geographic analysis of the sensors market includes the regions of North America, Europe, APAC and LAMEA. Earlier, the consumer electronics market was dominated by Europe and North America due to high standard of living and substantial buying power amongst the population. However the scene has changed in the last decade due to the availability of skilled manpower at low cost and low manufacturing cost in APAC region. The cost of shipment is also low. APAC is moving forward at a fast pace in the consumer electronics segment.
Honeywell Sensing and Control, a part of Honeywell Automation and Control Solutions, is a key player in the sensors industry. It optimized its growth potential by designing sensors which can be used for new applications. Key players in the sensors market profiled in this report are Sony
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