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Sensors: Essential Devices for Diverse Applications

Introduction to Sensors

Sensors refers to the devices which are designed to find changes in their environment and induce a measurable output in response. These devices are utilized in a vast range of applications, such as medical diagnostics, environmental monitoring, industrial process control, and consumer electronics. The major types of sensors include Accelerometers, Temperature sensors, Pressure sensors, Humidity sensors, Proximity sensors, Light sensors, Sound sensors, Magnetic sensors, and Gas sensors. Also, the sensors can be classified on the basis of their output signals, working principles, and application areas. Further, there are several other types of sensors available in the market, and new sensor technologies are being evolved all the time.

Sensors Market Overview

Based on the recent report published by Emergen Research, the global Sensors Market size was USD 222.07 Billion in and is predicted to reach a CAGR of 8.9% over the forecast period. Technological advancements in the sectors such as IoT, AI, and automation are propelling the demand for the sensors market, as they are essential components for enabling these technologies to function effectively.

The increasing demand for consumer electronics such as smartphones, wearables, and other electronic devices is the other factor enhancing the growth of the sensor market, as these devices rely heavily on sensors to provide various functionalities. The rising acceptance of sensors in the automotive industry is one of the major markets for sensors, and the rising demand for electric vehicles and hybrid vehicles has further fueled the growth of the sensor market. Also, rising government initiatives aimed at improving energy efficiency, reducing emissions, and enhancing safety have driven the growth of the sensor market, as sensors are essential for monitoring and controlling various parameters in various industries.

However, huge cost and privacy concerns are the major factors restricting the global sensors market share. Further, limited applications and standards & regulations are the other factors anticipated to hinder global market growth.

Top leading companies in the Sensors Market:

• Honeywell International Inc.
• Inc.
• Sony Corporation 
• BorgWarner Inc.
• Emerson Electric Co.
• General Electric Company
• Panasonic Corporation
• SAMSUNG
• Qualcomm Technologies, Inc.
• Hewlett Packard Enterprise Co.

Top 10 Leading Companies in the Sensors Market by Revenue

Samsung &#; [US$240.71 Billion] 

Samsung is a South Korea based computers and electronics manufacturing company headquartered in Suwon-Si, Gyeonggi-Do. It is a public company with more than ten thousand employees. Also, the specialized sectors of the company include smartphones, Wearables, Digital Signage, Technology, laptops, Medical Devices, semiconductors, tablets, televisions, Home Appliances, VR, Home Entertainment Systems, and LED. The company has made 39 acquisitions and has spent more than $ 17.53B on the acquisitions. Also, it has invested in numerous sectors including Energy Efficiency Tech, Display Technology, Display Technology, and others.  

Sony Corporation &#; Revenue [US$81.38 Billion] 

Sony Corporation is a Japanese multinational conglomerate company based in Minato, Tokyo, Japan. The Sony corporation is commonly stylized as SONY. The company is known for the production of electronic equipment, medical-related equipment, semiconductors, instruments, and other devices. The products include mobile phones, televisions, game consoles, music systems, cameras, and many other electronic components. The company has acquired 14 companies, including 2 in recent years. The count of acquisitions is 3 and came from private equity firms. Also, it has divested 8 assets. 

General Electric &#; Revenue [US$ 74.196 Billion] 

General Electric Company is an American multinational based in New York state and headquartered in Boston. GE is best known for its services such as Renewable Energy, Aviation, and work in the Power, and Healthcare industries. The products of the company are electrical and electronic equipment, financial services, and aircraft engine. The company has made 33 acquisitions and 89 investments. It has invested in various sectors including 3D Printing, Manufacturing Tech, Smart Grid, and others. 

Panasonic Corporation &#; [US$62.969 Billion] 

Panasonic Corporation is a Japanese appliance, electrical, and electronics manufacturing company headquartered in Kadoma-shi, Osaka. It is a public company with over ten thousand employees. The company was founded in the year and specialized in the sectors such as Artificial Intelligence, Home Appliances, Housing, Automotive, Internet of Things, Energy Savings and Environment, Facial Recognition, Business Solutions, Industrial Equipment, Manufacturing, Engineering, Virtual Reality, Audio Video Solutions, Food Service Systems, Digital Transformation, Productivity Improvement, Supply Chain Management (SCM), and Security and Disaster Prevention. 

Honeywell International Inc. &#; Revenue [US$34.392 Billion] 

Honeywell International Inc. is an appliance, electrical, and electronics manufacturing company headquartered in Charlotte, North Carolina. It is a multinational conglomerate corporation, the company majorly offers services in the areas covering building technologies, aerospace & technologies, performance materials, and safety & productivity solutions. Also, the company manufactures innovative solutions which can help healthcare organizations in simplifying day-to-day tasks keep buildings and clinicians safe, and optimize processes. Further, it was acquired by AlliedSignal in , which elected to keep the Honeywell name for its brand recognition. The Honeywell products include air & thermal systems, auxiliary power units, cabin management and cleaning, cockpit systems, and displays, and others.  

Hewlett Packard Enterprise Co. &#; Revenue [US$28.5 Billion] 

The Hewlett Packard Enterprise Co. is an American multinational corporation headquartered in Houston, Texas, United States. The company offers cloud-based services and intelligent solutions. Its product portfolio consists of storage devices, servers, networking products, customized financial solutions, converged systems, software, and cloud service-based products. Also, it is a public company with 10,000 employees. Further, the company has made 26 acquisitions and spent more than US$4.62 Billion on the acquisitions. Also made 28 investments.  

Emerson Electric Co. &#; [US$19.63 Billion] 

Emerson Electric Co. is a multinational corporation headquartered in Ferguson, Missouri. It became the first company who sell electric fans in the United States in the year . The company expanded its products such as electric dental drills, sewing machines, and power tools. Emerson has acquired 67 companies, combined with 19 in the previous 5 years. The company has acquired 23 different US states and 14 countries. The most targeted sectors of the company include 16% in software and 15% in machinery. 

BorgWarner Inc. &#; Revenue [US$14.838 Billion] 

BorgWarner Inc. is a US based motor vehicle manufacturing company headquartered in Auburn Hills, Michigan. It is a public company with over ten thousand employees. The company was founded in the year and is operational in more than 100 locations in 24 countries. Also, the products of the company are used by various major automakers around the world, which include General Motors, Ford, Toyota, Volkswagen, and BMW, among others. Further, the company has made 11 acquisitions and spent more than US$10.50 Billion on the acquisitions. It has invested in various sectors such as Electric Vehicles, Energy Storage Tech, and others. 

Ametek Inc. &#; Revenue [US$5.547Billion] 

Ametek Inc. is American appliances, electrical, and electronics manufacturing company headquartered in Berwyn, PA. It is a public company with more than ten thousand employees. The company was founded in the year and is operational in 150 locations in 30 countries across the globe. The goal of the company is to solve its customer&#;s complex challenges with differentiated technology solutions. Further, it has made 46 acquisitions and spent more than US$5.33 Billion on the acquisitions. Also, it has invested in various sectors that include Life Sciences Platforms & Tools, Embedded Systems, and others. 

Qualcomm &#; [US$33.566 Billion] 

Qualcomm is a US based telecommunications company headquartered in San Diego, CA. It is a public company with more than ten thousand employees. The company was founded in the year and the specialized sectors of the company include Wireless, Mobile, Semiconductors, Small Cells, Networking, Location Services, Wi-Fi, Internet of Things, Wireless Power, 5G, Augmented Reality, PC computing, Automotive, and Bluetooth. The company has made 42 acquisitions and has spent more than $ 14.66B on the acquisitions. Also, it has invested in various sectors that include Analog and Mixed Signal ICs, Autonomous Vehicles, Internet of Things Infrastructure, and others.  

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Since the last few years, the use of sensor technology has affected how companies, organizations, utilities, and manufacturers operate; the advent of the internet of things (IoT) has changed several things, including better connectivity, automation, and analytics to workflow and business processes. At present, smart sensors are beneficial to businesses in different ways. To begin with, they bring more visibility into existing workflows and operations, recognizing things and locating them, and identifying their environmental conditions. For example, industrial IoT environments leverage the power of IoT to keep track of temperature and humidity, for triggering alarms in warehouses or plants, and also to log data for historical records and quality management.

From a medical perspective, we have entered an era of &#;digital health revolution,&#; which is the unique amalgamation of medicine and technology, and sensors are paving the path. Currently, several medical facilities are making use of passive sensors to accurately monitor each patient&#;s vital signs and store data as well as share it wirelessly with doctors. Furthermore, many sensor technologies are underway to make it easier for health professionals and patients to diagnose cancer types, sub-dermal issues, and even enlarged kidneys.

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As a handful of these applications is set to drive the growth of sensor-based technologies, Straits Research has listed the top 7 manufacturers in the Global Sensor Technology Market, to guide organizational leaders in leveraging the power of the technology to better handle business challenges, optimize work processes, and increase efficiencies.

Top 7 largest sensor manufacturers in the world:

1. STMicroelectronic:

STMicroelectronics is a European electronics and semiconductor manufacturer delivering solutions that are key to smart driving, smart home & city, and smart industry applications. The company offers a wide range of MEMS and sensor solutions, including low-power devices for IoT and battery-operated applications, Industry 4.0, AR/VR components, and smartphones.

The company&#;s revenue for FY was USD 9.56 billion. In February , the company announced a collaboration with TSMC to push the development of Gallium Nitride (GaN) process technology and the supply of GaN devices to market. In December , STMicroelectronics collaborated with Valencell &#; a leader in performance biometric data sensor technology &#; to build a powerful Biometric Sensor Platform for wearables and IoT.

2. NXP Semiconductors:

NXP Semiconductors is an American Dutch manufacturer of semiconductors that designs and manufactures software and semiconductors for mobile applications, car infotainment, consumer electronics, networking, wireless infrastructure, identification, lighting, and security applications. The company&#;s portfolio of products includes motion sensors, capacitive sensors, pressure sensors, touch sensors, and magnetic sensors. The company generated revenues of USD 8.88 billion for FY.

In January , the company partnered with Momenta, a leader in software solutions for autonomous driving, for developing automotive-grade Driver Monitoring Solutions (DMS). The collaboration between the two companies aims to allow automakers to deploy DMS applications into mass auto production. In May , NXP Semiconductors signed a deal with Tata Consultancy Services (TCS) to build applications for automotive, security, and IoT verticals and solve problems in the high-tech areas.

3. Analog Devices, Inc. (U.S.)

The name Analog Devices, Inc. needs no introduction in the sensor market. It is one of the favorite names for sensors. The company&#;s MEMS accelerometer and gyroscope solutions provide designers with discrete parts and components and iSensor® MEMS subsystems. Its iSensor MEMS IMUs are highly-integrated, multiaxis solutions that are combined with pressure sensors, accelerometers, gyroscopes, magnetometers, and new technologies for high degrees of freedom applications under dynamic conditions.

In March , Analog Devices, Inc. announced the completion of Linear Technology Corporation for a staggering USD 14.8 billion to supplement its analog and sensor business. In , the company generated sales of nearly USD 6 billion.

4. ams AG (Austria)

Formerly known as austriamicrosystems AG, the Austria-based ams AG is a world leader in the design and manufacture of advanced sensor solutions and services. The company entered into a joint venture with Sunny Optotech to design and market 3D sensing camera solutions for automotive and mobile applications.

For the financial year , the company posted revenues of USD 2.085 billion. In June , the company collaborated with China&#;s AI provider Megvii to develop and market complete, plug-and-play 3D face recognition solutions. In January , ams AG completed the acquisition of German manufacturer Osram Licht AG, allowing the company to build new sensor solutions and accelerate the growth plans.   

5. Honeywell International, Inc.

Honeywell International, Inc. is among the world&#;s leading sensor technology companies offering IoT-based sensors and related solutions. The company&#;s portfolio includes more than 50,000 products ranging from a wide range of switches to position, speed, and airflow sensors. In , the company generated revenues of nearly USD 41.80 billion, marking an increase by 3.13% than the previous year. In July , Honeywell acquired Intelligrated for a staggering USD 1.5 billion in cash, enhancing its product offerings in sensors.

6. Sensirion AG

Sensirion is a Swiss leader in designing, manufacturing, and marketing high-performance digital microsensors and systems. The company&#;s product portfolio includes gas and liquid flow sensors, CO2 sensors, environmental sensors for the measurement of humidity and temperature, and particulate matter (PM2.5) sensors, among others. Sesirion&#;s proven CMOSens® Technology allows customers to generate a high-speed, high-precision sensor signal. In , the company generated revenues of nearly USD 177.75 million, of which the automotive business contributed 30 %.

In September , Sensirion AG acquired the automotive division of Auto Industrial Co. Ltd. (AIC), a provider of automotive sensor modules. AIC&#;s main products include auto defogging sensors (ADS), air quality sensors (AQS), and CO2 sensors, and this acquisition helped Sensirion to strengthen its OEM automotive sensor module business.

7. Knowles Electronics, LLC.

Knowles Electronics, LLC ranks among the world&#;s leading manufacturers of advanced micro-acoustic and human interface solutions and provides services to consumer electronics, mobile communications, medical technology, military, space, and other industrial end markets. The company was acquired by Dover Electronics in , allowing Knowles Electronics to find new opportunities to leverage its technology into other markets. The company&#;s revenue for FY was USD 826.9 million.

In December , Knowles Electronics acquired the MEMS microphone ASIC design business from ams AG, enhancing the company&#;s leading position in the MEMS microphone market.

Industrial Sensor Market Size, Status, and Forecast Report

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