Global Sensor Markets Exploding

By: | April 4th, 2016

Recent headlines suggest global sensor markets will undergo significant growth between now and 2020. Nearly all sensor types are benefiting from a number of major trends.

First is the Internet of Things (IoT) which requires sensors to collect data in both the industrial and consumer sectors. Second is increasing automation across all sectors in the global economy; automation depends on sensors. Third is the drive toward safety and control applications for new technologies such as solar, wind, and new oil and gas technologies including fracking. Fourth, new industries, including robotics, drones, unmanned vehicles, smartphones, and others are all dependent on increasingly more sophisticated sensors. Finally, life sciences and the medical professions are increasingly using sensors in research and development as well as delivery of services to the general public.

The following partial list of sensors and their growth prospects is gleaned from Research and Markets and Syndicate Market Research reports:

  • photonic sensor market CAGR of 15.72% to 2020
  • automotive sensor market CAGR of 7.72% to 2020
  • motion sensor market CAGR of 15.14% to 2020
  • temperature sensor market CAGR of 4.8% to 2020
  • optical sensor market to reach nearly $1 billion by 2020
  • pressure sensor market to reach $1.87 billion by 2018
  • photoelectric sensor market CAGR 5.8% to 2022
  • image sensor market CAGR of 11.8% to 2020

The following video shows a “mood sensing robot” introduced at a recent Beijing event.

David Russell Schilling

David enjoys writing about high technology and its potential to make life better for all who inhabit planet earth.

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