Editorial Feature

The Sensors Industry: A Comprehensive Guide

AZoSensors offers a comprehensive guide to the sensors industry, including its history, current market landscape, major players and future directions.

The Sensors Industry: A Comprehensive Guide

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A History of the Sensors Industry

Given its many cutting-edge applications, from smartwatches to robots, the sensors industry seems like a relatively new development. However, the sector actually emerged in the 19th century with the development of photovoltaic cells, which were used in the world’s first light sensors.

Later, in the mid-twentieth century, the sensors industry began to take off. Temperature sensors and pressure sensors became the first commercially successful sensors, which were used in numerous industrial and military applications.

Semiconductor materials fundamental to modern sensor technology emerged in the 1960s, thanks to advances in materials science. With these materials, scientists were able to make advancements in sensor technology, creating more powerful, miniaturized sensors which could be used in a wider range of novel applications.

Today, we rely on sensor technology for our daily devices, such as smartphones, fitness trackers, cars, and smartphone technology. Prominent technologies include position sensors, proximity sensors, image sensors, flow sensors, and more.

Innovations in the sensors industry are leveraged in a number of sectors, including healthcare, agriculture, manufacturing, clean energy, environmental monitoring, automotive, food and beverage, and more.

As the Internet of Things (IoT) has reached maturity, we are now increasingly relying on sensor technology in our daily lives. As a result, the sensors industry has become increasingly important to modern society.

The Sensors Industry in 2023

In 2022, the global sensors industry was valued at around $224.61 billion. Currently, Asia-Pacific accounts for the largest size of the global sensor market.

The current sensors industry is supported by the evolution and industrial applications of the IoT, which has uplifted the market in recent years. IoT platforms rely on real-time data collected from connected devices fitted with various sensors. This growing network of connected devices has helped the sensors industry to grow as it has opened up an increasing number of opportunities for novel sensor applications.

In 2023, it is estimated that there will be as many as 30 billion connected devices, almost double the 18 billion that existed in 2018. This rapid increase in the use of connected devices has helped the sensor industry to evolve.

A recent sensor market report predicts that from 2023 to 2028, the sensors industry will grow at a CAGR of 7.59%. Much of this growth will be driven by the increased demand for sensors in various technologies, such as cameras and medical equipment, as well as the continuing rise in the use of the IoT and connected devices.

The Sensors Industry: The Main Players

Some of the leading players in the sensors industry are Bosch Sensotec GmbH (Germany), STMicroelectronics NV (Switzerland), Analog Devices Inc. (US), Siemens AG (Germany), Samsung Electronics (South Korea), DENSO Corporation (Japan), Alphasense (UK), Figaro Engineering (Japan), Texas Instruments Inc. (US), Infineon Technologies AG (Germany), TE Connectivity Ltd (Switzerland), Honeywell International Inc. (US), NXP Semiconductors NV (Netherlands), Omron Corporation (Japan), and Sensirion AG (Switzerland).

Asia-Pacific is a major location for manufacturing in the sensors industry. Many companies headquartered outside of Asia-Pacific have built manufacturing facilities in the region, such as Amphenol Corporation, Bosch Sensortec, Dwyer Instruments, Rockwell Automation, Honeywell International, Texas Instruments, Panasonic Corporation, STMicroelectronics, TE Connectivity, and Siemens. The region accounted for 40% of the sensors industry revenue share in 2022.

After Asia-Pacific, Europe holds the second-largest market share of the sensors industry. Major countries in this region include Germany, France, the UK, Italy, and Spain. The North American segment will become increasingly important to the sensors industry as it is expected to grow at a CAGR of 8.2% until 2032.

In terms of sensor type, biosensors are currently the most important sensor in the sensors industry, accounting for roughly 12% of revenue share. Demand from the healthcare industry, as well as the wearables industry, is driving this segment. Regarding a specific technology, complementary metal oxide semiconductors (CMOS) are the most important in the current sensors industry.

The Sensors Industry: The Future

The sensors industry will continue to grow and evolve into the future. We can expect further advancements in materials science to help make sensors increasingly sophisticated, which will allow for their use in novel applications across industries.

Developments in the IoT will likely be a significant driver for the sensors industry. Advancements in artificial intelligence (AI) are also happening alongside sensor technology. AI, the IoT, and sensors are technologies that are often used together. Therefore, advancements in one are intricately linked with another.

Demand from the healthcare sector will also shape the future of the sensors industry. Sensors offer a lot of value to the healthcare industry. Collecting biological data non-invasively, in real-time, allows for better preventative and diagnostic techniques, as well as better disease management options. Scientists worldwide are exploring how sensors can be leveraged in new applications to help prevent, detect and manage a number of diseases, from diabetes to ebola.

Taking a Closer Look at the Global Image Sensor Market

References and Further Reading

Arakawa, T., Dao, D.V. and Mitsubayashi, K. (2022) Biosensors and chemical sensors for Healthcare Monitoring: A Review, IEEJ Transactions on Electrical and Electronic Engineering, 17(5), pp. 626–636. https://onlinelibrary.wiley.com/doi/10.1002/tee.23580

Global Sensors Market Size & Share Analysis - Growth Trends & Forecasts [Online]. Global Newswire. Available at: https://www.globenewswire.com/news-release/2023/05/25/2676649/0/en/Global-Sensors-Market-Size-Share-Analysis-Growth-Trends-Forecasts-2023-2028.html 

Robert Schmid (2018). Industrial IoT: How connected things are changing manufacturing [Online]. Available at: https://www.wired.com/wiredinsider/2018/07/industrial-iot-how-connected-things-are-changing-manufacturing/ 

Disclaimer: The views expressed here are those of the author expressed in their private capacity and do not necessarily represent the views of AZoM.com Limited T/A AZoNetwork the owner and operator of this website. This disclaimer forms part of the Terms and conditions of use of this website.

Sarah Moore

Written by

Sarah Moore

After studying Psychology and then Neuroscience, Sarah quickly found her enjoyment for researching and writing research papers; turning to a passion to connect ideas with people through writing.

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