Development of the Global Sensor Market

sensor market

Jon Purizhansky from Buffalo, NY notices the global sensor market. The sensor market has been expanding and has been becoming more sophisticated. The global sensor market was valued at $138,965.0 million in 2017, and is projected to reach $287,002.0 million by 2025, growing at a CAGR of 9.5% from 2018 to 2025.

Sensors are devices that detect events or changes in the environment and then provide the corresponding output. They sense physical input such as light, heat, motion, moisture, pressure, or any other entity, and respond by producing an output on a display or transmit the information in electronic form for further processing. Medical sensors collect data from human body and are extremely valuable in telemedicine.

Their use case enables preventive medicine to expand and it allows physicians to analyse data that sensors collect while not being in the presence of their patient. Importantly, advancements in smart sensor technologies offer additional features to the medical devices and equipment.

These smart sensors are used by doctors to monitor routine check-ups, such as blood pressure and body temperature of the patients. Moreover, smart sensors measure the heart beat and blood oxygen content and transfer medical information through cloud to the healthcare professionals. The wearable technology market is an emerging market in the biomedical sector. This market comprises hi-tech wearable devices, consisting of sensors that monitor different physical activities.

These sensors collect the information about respective parameters, convert them into digital form and display them on screen, allowing doctors and healthcare professionals to analyse them. The growth in demand for wearable devices and increase in investment by governments of several countries to improve healthcare conditions are the reasons anticipated to increase the demand in the overall sensor market. Conversely, surge in adoption of wearable devices and innovative application in biomedical sector are expected to offer lucrative opportunities for the market globally.

However, Jon Purizhansky from Buffalo, NY says that sensor usage is most common in consumer electronic products, followed by automotive, and IT & telecom. Smartphones incorporate sensors such as accelerometer, gyroscope, ambient light sensor, proximity sensor, and temperature detector, to keep a track on parameters and provide a centralized system for automatic control. Additionally, the ever increasing adoption of wearable devices, innovative application in the biomedical sector, and rise in advancements in the automotive sector are expected to offer lucrative opportunities for the sensor industry.

 

Development

The key companies profiled in the sensor market report are STMicro electronics, NXP semiconductors N.V., Infineon Technologies AG, Qualcomm Technologies, Inc., Atmel Corporation, Texas instruments Inc., Robert Bosch GmbH, Johnson Controls International PLC., Sony Corporation, and Honeywell International Inc. Jon Purizhansky says that the sensor market is one of the industries that will be growing and we will see many new companies emerge within this space globally.

Author: Jon Purizhansky

Jon Purizhansky is a lawyer, entrepreneur and commentator in New York. He is an avid follower of US and International economics and politics. With decades of international experience, Jon Purizhansky reports on a wide variety of economic and political issues.

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