Sensors Global Market and Trend
A sensor is a detection device that senses a specified measured and converts it into a usable output signal according to certain rules, and is a bridge between the physical and digital worlds. A sensor generally contains a sensitive element and a conversion element.
The global sensors market size was USD 125.7 billion in 2017, growing to USD 184.2 billion in 2022, with a CAGR of 7.9% from 2017 to 2022. As the economic environment continues to improve and emerging technologies continue to mature, the market demand for sensors continues to increase. The global sensor market is expected to reach USD 245.6 billion in 2027, with a CAGR of 5.9% from 2022 to 2027.
Figure 2017-2027 Global Sensors Market Size (Billion USD) and CAGR
North America is the largest sensor market in the world, accounting for 41.5% market share. It is followed by Asia Pacific and Europe, accounting for 35.3% and 15.8% market share respectively.
Sensors are mainly used in the field of automotive (32.6%), consumer electronics (17.5%), Industrial field (15.2%), and Environmental (6.0%).