North America is well known for the early adoption of technological advancements. The developments being introduced in sensor technology is likely to spur growth and accelerated adoption in the region over the next couple of years. Market Research Future (MRFR) report highlights that the North America sensor market is poised to register 11.82% CAGR across the evaluation period 2017 to 2023. The market is further assessed to reach a valuation of USD 55,383.64 Mn by 2023 up from USD 25,839.74 Mn in 2016.
Increasing use of the Internet of Things (IoT) across different industry verticals in the region is prognosticated to drive the growth of the market in the years to come. Also, the rising penetration of LTE services has boosted the revenue generation in North America sensor market in recent years. 5G services are expected to be entirely commercialized by 2020, which assures an attractive future trajectory for the market players.
Increasing number of connected devices exhibit healthy growth opportunities for the players in the North America sensor market. In addition, the growing demand for consumer electronics such as phones, laptops, etc. are also anticipated to fuel demand for sensors in the market over the next few years. Also, the rising adoption of automation in industries is expected to lead the growth of the North America sensor market in the forthcoming years.
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Delphi Automotive LLP (U.K.), Analog Devices, Inc. (U.S.), ABB Ltd. (Australia), Honeywell International, Inc. (U.S.), Meggitt Sensing Systems (U.S.), Bosch Group Gmbh (Germany), Siemens AG (Germany), STMicroelectronics, Yokogawa Electric Corporation (Japan), and Infineon Technologies AG (Germany) are the key players of North America sensor market that are assessed in this MRFR report. These participants are emphasizing on the innovation of advanced technologies for capitalizing on the developmental opportunities present in the market. Increasing investments in research & development are resumed to encourage healthy competition in the market scenario over the next couple of years. Growth approaches such as acquisitions, collaborations, mergers, agreements, etc. are expected to be witnessed in the North America sensor market in the years to come.
The segments of the North America Sensor Market, based of type, covered in this report are flow sensor, touch sensor, image sensor, position sensor, motion sensor, temperature sensor, light sensor, proximity sensor, pressure sensor, and optical sensor.
On the basis of technology, the segmental analysis of the North America sensor market includes System on chip, Hybrid Technology, System on Package, CMOS Process, Machine Vision, IC Compatible 3D Micro Structuring, and Vision Sensing.
The North America sensor market is divided on the basis of connectivity – wired and wireless.
Different vertical-based segments of the North America sensor market are medical, automotive,
The regional evaluation of the North America sensor market covers a detailed country-level analysis. The regional segments of the market are – U.S, Canada, and Mexico. Among these, the U.S. is currently leading the growth trajectory of the market and is anticipated to retain its position through the assessment period. The U.S. is estimated to expand at a CAGR of 12% during the review period. Canada, on the other hand, exhibits immense potential and is poised to register a robust CAGR of 15% over the forecast5 period.
In September 2019, Cradea Bio, Inc., a commercial manufacturer of biology-enabled transistor technology, has announced the launch of early access to the program for Genome Sensor CRISPR – Chip.
In August 2019, Samsung, a South Korean technology company, has partnered with a Chinese handset manufacturer, Xiaomi. The partnership covers the launch of 108MP mobile image sensor, “Samsung ISOCELL Bright HMX.”
LIST OF TABLES
TABLE 1 NORTH AMERICA SENSORS MARKET BY TYPE, 2019-2023 (USD MILLION) 16
TABLE 2 NORTH AMERICA SENSORS MARKET, BY TECHNOLOGY, 2019-2023 (USD MILLION) 21
TABLE 3 NORTH AMERICA SENSORS MARKET, BY CONNECTIVITY, 2019-2023 (USD MILLION) 24
TABLE 4 NORTH AMERICA SENSORS MARKET, BY END-USERS, 2019-2023 (USD MILLION) 26
TABLE 5 NORTH AMERICA SENSORS MARKET BY COUNTRY,2019-2023 (USD MILLION) 30
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LIST OF FIGURES
FIGURE 1 NORTH AMERICA SENSORS MARKET: DRIVERS & RESTRAINTS 9
FIGURE 2 SENSORS MARKET: SUPPLY CHAIN PROCESS 14
FIGURE 3 NORTH AMERICA SENSORS MARKET: PORTER’S FIVE FORCES ANALYSIS 14
FIGURE 4 NORTH AMERICA SENSORS MARKET BY TYPE, 2019-2023 (USD MILLION) 15
FIGURE 5 NORTH AMERICA SENSORS MARKET, BY TECHNOLOGY, 2019-2023 (USD MILLION) 20
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