North America Sensor Market to See Sustainable Growth Ahead
North America Sensor Market is projected to be worth USD 23,121 Million by 2030, registering a CAGR of 6.51% during the period 2020-2030
Shraddha Nevase
North America Sensor Market Overview
The North America Sensor Market Outlook is growing rapidly. Market growth attributes to the rising demand for sensors in some of the burgeoning industries such as automotive, electronics, defense, and healthcare, among others. Besides, increasing applications of sensors in medical and biomedical devices and smart connected devices provide tremendous opportunities for market growth.
Over the past couple of years, Sensors have garnered massive prominence due to their capabilities in self-testing, self-identification, self-validation, and self-adaptation. Moreover, additional advantages of sensors such as high reliability, high performance, compact size, low power consumption, and minimal requirement of interconnecting cables escalate the market growth on furthered height.
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According to Market Research Future (MRFR), the North America sensor market is poised to reach the valuation of USD 23,121 Million by 2030. In its recent North America sensor market forecast, MRFR also asserts that the market would register 6.51% CAGR during the assessment period (2022-2030). The increasing integration of sensors in vehicles defines the growing market landscape.
Additional factors, such as the ongoing deployment of LTE and technological advancements in various fields, boost market growth, increasing the number of connected devices. Besides, increasing penetration of connected devices such as smartphones, tablet computers, laptops, and desktop personal computers influence market growth. Increasing usages of IoT-based solutions foster the demand for intelligent sensors.
Moreover, considerable investments in the research and development of intelligent sensors, increasing product development, and launches, increase the size of the North America sensor industry. Conversely, the complex design structure and lack of customization are significant factors projected to impede the growth of the market. Nevertheless, the emergence of new technologies like ZigBee would support market growth throughout the review period.
North America Sensor Market - Segmentation
The report is segmented into five dynamics;
By Sensor Type : Flow Sensor, Image Sensor, Touch Sensor, Temperature Sensor, Flow Sensor, Image Sensor, Touch Sensor, Position Sensor, Temperature Sensor, Motion Sensor, Light Sensor, Pressure Sensor, Proximity Sensor, And Optical Sensor, and others.
By Technology : System on chip, System on Package, Hybrid Technology, CMOS Process, IC Compatible 3D Micro Structuring, Machine Vision, Vision Sensing, and others.
By Connectivity : Wired and Wireless.
By End-User : Industrial, Medical, Automotive, Consumer Electronics, Aerospace & Defence, and others.
By Regions : The US, Canada, and the Rest-of-North-America.
North America Sensor Market - Country-wise Analysis
The US dominates the North American sensor market due to the technological advancement and developed network architecture. Besides, the increasing number of smartphone usage fuel the growth of the market. Moreover, the rising demand for sensors in consumer electronics and automotive sectors, alongside the penetration of autonomous devices, foster the growth of the market. The US sensor market is expected to grow at 12% CAGR during the assessment period.
Canada stands second in the North American sensor market. The market share attributes to the Factors such as large advances in sensing technology and demand from the medical device industry influence the growth of the market. The extensive uptake of sensors in some of its burgeoning industries propels the market growth. Also, improving technical infrastructure in the country impacts market growth positively. The Canadian sensor market is estimated to grow at 15% CAGR during the forecast period.
North America Sensor Market - Competitive Analysis
Highly competitive, the North American sensor market appears fragmented due to the presence of several well-established players. To gain a larger competitive share in this market, industry players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansions, and product/ technology launch.
The competitive nature of the market is projected to intensify further, witnessing rising new market entrants. To meet the augmenting demand for advanced safety features by governments and consumers, players invest substantially to drive R&D required for product developments. Also, these players focus on geographical expansion to witness relentless innovations and the development of new products.
Major Players:
Players leading the North America sensor market include ABB Ltd. (Australia), Delphi Automotive LLP (UK), Analog Devices, Inc.(US), Bosch Group Gmbh (Germany), Honeywell International, Inc. (US), Meggitt Sensing Systems (US), Yokogawa Electric Corporation (Japan), Siemens AG (Germany), STMicroelectronics and, Infineon Technologies AG (Germany), among others.
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Industry/ Innovation/ Related News
August 03, 2020 ---- Boonton (the US), a Wireless Telecom Group company, launched a new USB RF power sensor to enable the characterization of Wi-Fi 6 devices uniquely. The RTP5008 Real-Time Peak USB Power Sensor uniquely enables the characterization of Wi-Fi 6 devices in the newly allocated 6 GHz band (5.925 to 7.125 GHz).
Boonton is the leading RF power measurement instrument supplier with the capability to fully characterize the chipsets and modules with the highest level of performance, utilizing channel bandwidths up to 160 MHz in multiple inputs, and multiple-output (MIMO) configurations. The new Wi-Fi 6 technology is expected to offer faster data throughput, greater network efficiency, improved operation in dense or congested environments, and extended battery life for client devices.
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