The Future of Consumer Electronic Sensors….. COVID-19 & Its Impact….



The global consumer electronic sensors market size is expected to reach USD 34.57 billion by 2022, according to a new study by Grand View Research, Inc. Increasing Proliferation of smartphones and tablets on a global level is expected to drive demand over the forecast period. Preference for smart devices and increasing disposable income may further fuel the market. High performance cameras in high-end smartphones along with newer applications such as restore recognition, 3D mapping, eye tracking, etc. is expected to favor revenue growth.
The recent COVID-19 pandemic that has been ravaging numerous countries across the globe has adversely affected the overall sensor, control, and automation industry. While the capital investments in the automation sector have been lethargic before the pandemic, they are expected to be put on hold or postponed for at least a year. However, the recent standstill in industrial manufacturing and production is anticipated to act as a wake-up call for the manufacturing sector on its reliance on human labor. This, in turn, is expected to highlight the advantages of robotics and automation helping a greater adoption in the post-pandemic period. As IoT, industrial automation, and digitalization are expected to become increasingly relevant to post-pandemic Tier 1 manufacturers, it may eventually turn into an opportunity especially in evolving supply chains. The report will account for Covid19 as a key market contributor.
Increasing trend of two cameras per device and need for high-end cameras in gaming consoles has added to product demand. Surveillance applications are also expected to show growth opportunities owing to increasing implementation worldwide in traffic management. Increased R&D has enabled cheaper, miniaturized, and efficient products, which serves as an attractive opportunity for industry participants. Continuous technology advancements such as increasing use of Micro Electro Mechanical Systems (MEMS) products owing to benefits such as low power consumption and cost, miniaturization, easy integration, and high performance may provide positive avenues to overall demand.
The global consumer electronic sensors market size is expected to exceed USD 34 billion by 2022. New product developments and investment in research & development are anticipated to contribute to market growth over the forecast period. Factors such as small size and lower power consumption may give a competitive edge to industry players operating in the intense competitive environment. The increasing popularity of wearable technology is expected to boost the demand of the consumer electronic sensors industry.
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https://www.grandviewresearch.com/industry-analysis/consumer-electronic-sensors-market/request/rs1
Further key findings from the study suggest:
·         Image sensors are increasingly used in cameras, camcorders, multimedia mobile phones, and security cameras. Motion sensing is expected to continue gaining significant ground in consumer applications. Developments in MEMS technology have reduced the size, cost, and power consumption, which enable use of motion sensors in handheld devices. They are being used in laptops, digital cameras, MP3 players, TV remote controls, mobile phones, and game controllers to enable enhanced operation.
·         Communication application primarily includes mobile phones, PDA, tablets and is expected to be the key application segment over the forecast period. The entertainment segment is expected to grow considerably due to escalating demand for smart gaming solutions and televisions. The use of smart devices for health monitoring, indoor navigation and related niche applications is expected to offer significant growth opportunity over the forecast period. Additionally, they are also widely used for security surveillance in government and commercial sectors.
·         Countries such as India and China are expected to contribute considerably to regional growth over the forecast period. The Asia Pacific consumer electronics sensors market is expected to grow at a CAGR of 10.4% over the forecast period, owing to surging demand for smartphones and smart TVs. The Indian government has also allowed 100% FDI in the hardware-manufacturing sector through the automatic route.
·         The consumer electronic sensors market is highly competitive, and key players include Sony Corporation, Aptina Imaging, Synaptic, Bosch, STMicroelectronics, Samsung, Panasonic Corporation, and Toshiba Corporation. STMicroelectrinics serves various manufacturers such as Apple, Delta, Bosch, Cisco, Microsoft, Samsung, Continental, Hewlett-Packard, Seagate, and Western Digital. The company invested USD 1,520 million, USD 1,816 million and USD 2,413 million in 2014, 2013 and 2012, respectively for R&D activities.
Demand for multimedia devices with features such as motion stabilization and indoor navigation is expected to favor global demand. Increasing adoption of security and surveillance solutions along with growing entertainment and gaming applications may provide growth avenues. Increasing gaming applications are expected to accelerate demand for motion sensing, which may further contribute to overall revenue.
Accelerating demand for Micro Electro Mechanical System (MEMS) for communication, entertainment, and home appliances is expected to fuel the market. They are primarily used in smartphones and tablets owing to increased efficiency and compact size. They are used for improved communication, visual, sound, navigation & control, and tactile interface experiences. Lack of product differentiation and price pressure may hinder the industry growth over the next seven years.
Communication is expected to be the key application segment over the forecast period owing to high demand for PDA and mobile phones. Growing demand for gaming services is expected to positively contribute to entertainment applications. The industry is characterized by preference towards smart features in washing & drying machines, dishwashers, cooking, and air-conditioning appliances. The entertainment segment accounted for over 15% of the global revenue in 2014.
Application areas are expected to witness evolution over the next few years, with industry participants aiming to augment their product offerings. For instance, Samsung has deployed UV sensors for environmental and health applications in the Note 4, as well as products to sense pulse and humidity in the Galaxy S5 and the Galaxy S4, respectively.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-consumer-electronic-sensors-market
Grand View Research has segmented the global consumer electronic sensors market on the basis of product, application and region:
Consumer Electronic Sensors Product Outlook (Revenue, USD Million, 2012 - 2022)
·         Image Sensors
·         Motion Sensors
·         Temperature Sensors
·         Pressure Sensors
·         Touch Sensors
·         Position Sensors
Consumer Electronic Sensors Application Outlook (Revenue, USD Million, 2012 - 2022)
·         Communication
·         Entertainment
·         Home Appliances
·         IT
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.




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