NEWARK, Del, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The global consumer electronic sensors market revenue reached US$ 32.8 billion in 2022. Sales of consumer electronic sensors are estimated to total US$ 37.1 billion in 2023. Between 2023 and 2033, the market is poised to grow at 11.1% CAGR. Revenue will likely reach US$ 106.5 billion by 2033.
Request a Sample Copy for In-Depth Understanding.
https://www.futuremarketinsights.com/reports/sample/rep-gb-17991
Consumer Electronic Sensors Market Trends:
As 5G networks become more prevalent, smart home devices such as thermostats, security cameras, and voice assistants will become more sophisticated and interconnected. Sensors are crucial for these devices to provide real-time information and respond to user commands.
5G connectivity is a key enabler for autonomous vehicles. Advanced sensors such as LiDAR, radar, and cameras are essential for self-driving cars to perceive their surroundings accurately and make split-second decisions. 5G will accelerate the adoption of Industry 4.0 technologies, which rely on sensors for data collection and automation. This includes robotics, predictive maintenance, and intelligent manufacturing.
Telemedicine and remote patient monitoring will benefit from 5G's speed and reliability. Sensors in medical devices and wearables will be pivotal in monitoring patient health and transmitting data to healthcare professionals.
Precision agriculture uses sensors to collect soil conditions, weather, and crop health data. 5G connectivity can enhance the efficiency and effectiveness of these systems. 5G networks can support extensive environmental monitoring networks that rely on various sensors to track climate, pollution, and natural disasters.
Wearable devices like smartwatches and fitness trackers require various sensors such as heart rate monitors, accelerometers, and gyroscope sensors to track users' physical activities and health metrics. As more people focus on health and fitness, the demand for these sensors increases.
Smart clothing integrated with temperature, moisture, and biometric monitoring sensors is becoming popular. This market segment contributes to the growing demand for sensors in consumer electronics.
In some regions, energy efficiency regulations and appliance safety standards are becoming strict, necessitating advanced sensors to meet these requirements. The increased demand for sensors in consumer electronics, driven by home appliances, can also boost the sensor manufacturing industry, leading to innovation and cost reductions.
Key Takeaways from the Consumer Electronic Sensors Market Report:
- The market for consumer electronic sensors is estimated to reach US$ 106.5 billion by 2033 end.
- Sales of consumer electronic sensor is expanding at a CAGR of 11.1% over the forecast period.
- The United Kingdom is set to expand at 12.0% CAGR from 2023 to 2033 in the consumer electronic sensors market.
- China is projected to total US$ 15.8 million by 2033.
- Based on type, the image segment is estimated to expand at a CAGR of 10.8% from 2023 to 2033.
"Deployment of 5G technology will aid in the growth of the consumer electronic sensors market by 2023 and beyond. Key manufacturers are working on providing customized solutions tailoring sensors to specific applications and requirements.” - opines Sudip Saha, managing director and MD at Future Market Insights (FMI) analyst.
Request for Methodology:
https://www.futuremarketinsights.com/request-report-methodology/rep-gb-17991
Competitive Landscape
Key manufacturers are forming strategic partnerships with consumer electronics companies to integrate sensors seamlessly into their products. They are developing eco-friendly sensors and manufacturing processes to align with growing consumer concerns about sustainability. Companies offer customized sensor solutions to consumer electronics manufacturers, tailoring sensors to specific applications and requirements.
Recent Developments in Consumer Electronic Sensors Market:
- In December 2021, The most recent Ultra-Wideband (UWB) sensors from NOVELDA AS were available for use in smart homes and building automation, enabling any device to detect people precisely.
- In October 2021, The PerSe series of sensors from Semtech Corporation has been made available for the market of linked personal devices.
Restraints:
Despite the promising growth prospects, the Consumer Electronic Sensors Market faces certain restraints. These include the challenge of balancing sensor performance with energy efficiency, cost sensitivity in consumer electronics manufacturing, and intellectual property issues related to sensor technology innovations. Additionally, the ongoing global semiconductor shortage has affected sensor production and supply chain disruptions, posing temporary hurdles to market expansion.
Region-wise Insights - Category-wise Insights:
Regionally, Asia-Pacific leads in sensor production and consumption due to major manufacturing hubs in China, South Korea, and Japan. In contrast, North America remains a hotbed for innovation research and development in sensor technology.
Category-wise, motion, proximity, and environmental sensors are witnessing high demand across consumer electronics, driven by gaming, automation, and environmental consciousness trends. These sensors are anticipated to maintain their dominance throughout the forecast period.
Maximize Your Success Potential by Unleashing Profitable Avenues.
https://www.futuremarketinsights.com/customization-available/rep-gb-17991
Consumer Electronic Sensors Market Outlook by Category
By Type:
- Image
- Proximity
- Motion
- Pressure
- Temperature
- Fingerprint
- Others
By Application:
- IT& Telecom
- Home Appliances
- Entertainment
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and the Pacific
- Middle East and Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
Top Reports Related to Technology Market:
Wearable Electronics Market Size: The wearable electronics market revenue by the end of 2021 was US$ 45.5 Bn. The wearable electronics market is expected to reach US$ 199.5 Billion by 2032, as it is estimated to grow at a CAGR of 14.5% for 2022-2032.
Medical Electronics Market Share: The global medical electronics market has currently crossed the billion-dollar mark and is predicted to advance at a CAGR of 6.6% from 2022 to 2032.
Flexible Electronics Market Trends: The global flexible electronics market is growing at a modest pace to record a CAGR of 8.5% from 2022 to 2032.
Electronic Toll Collection Market Demand: The global electronic toll collection market is expected to register a CAGR of 10.5% during the assessment period.
Business Cloud VoIP & UC Services Market Demand: The global business cloud VoIP & UC services market is anticipated to secure US$ 18,929.2 million in 2023 and US$ 55,383.1 million by 2033. From 2023 to 2033, the global business cloud VoIP & UC services market is projected to record a CAGR of 11.3%.
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
