Global Consumer Electronic Sensors Market: Overview
Sensors are not a new addition to consumer electronics design. However, they have undergone tremendous development, on account of savvy manufacturers pouring money to come up with more effective models. As a result, the market for consumer electronics is seeing smaller, more effective, and affordable products. This has made them highly suitable for portable devices, namely the ubiquitous tablets and smartphones, gaming in which the sensors follow the movement of the user to translate them on screen, home appliances, and navigation. However, one area, where they have brought in major disruption is in the area of “wearables” – fitness bands and various peripherals gather inputs from sensors to present requisite information.
The report by Transparency Market Research finds that the widespread uptake of sensors in consumer electronics is mainly on account of progress in the technology leveraged to design different kinds of sensors. Some such technologies are advanced raw materials applied for designing sensors, namely carbon nanotube (CNT), silicon carbide (SiC), and indium antimonide.
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Global Consumer Electronics Sensors Market: Key Trends
Advances in sensor technology has opened up numerous opportunities for the global market for consumer electronics sensors. From automation of home automation to robotics and digital health – sensors are now available to suit any requirement. They are advanced and smarter. For example, there are smartphone sensors that provide a touch-free analysis of heart rate of people by studying the skin tone! Such progresses along with increasing spending capacity of people worldwide has provided a major impetus to the demand for consumer electronics sensors.
Global Consumer Electronics Sensors Market: Regional Outlook
Regionally, Asia Pacific is likely to make impressive strides in the market for consumer electronics sensors on the back of fast expanding economies of China and India. The two nations with their large populations and their rising spending capacity is driving up sales of consumer electronics, particularly smartphones. Apart from that, embedding of webcams in laptops is also boosting the market in the region. The market in North America is another key one, whose growth has been sustained on account of the trend of replacement of old electronic devices for newer models.
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Global Consumer Electronics Sensors Market: Competitive Dynamics
Some of the prominent participants operating in the global market for consumer electronic sensors are Microchip Technology Inc., Panasonic Corp., Honeywell International Inc., InvenSense Inc., MEMSIC Inc., Sensata Technologies Inc., Asahi Kasei Microdevices Corp, and Hitachi Automotive Systems. The report throws light on their sales and revenues, market shares, and the winning strategies. It also leverages analytical tools of the likes of SWOT Analysis and Porter’s Five Forces to understand the opportunities and pitfalls awaiting companies operating in the global market for enterprise social networks.
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