The Global Consumer Electronic Sensors Market 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 consumer electronic sensors 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.
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.
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.
Learn more Full Market Insight Details here: Global Consumer Electronic Sensors Market Report