Combination of sensor technology with consumer goods owing to technological advancements is expected to majorly drive the market growth over the forecast period. In addition to that, increasing demand of consumer electronic goods is going to impact the market growth positively. Growing awareness to invest in research and development to withstand the competition is going to be one of the prominent market drivers. Advantage by intelligent sensor system such as diagnosis of situation, decision making and interaction with environment is going impact the consumer buying electronic goods. This is going to lead the market growth in coming years.
Technological advancements and miniaturization of devices has driven the market growth currently Furthermore, chip level integration, low cost, wireless connectivity and low power are the prominent factors going to augment the market growth. However, alternative technologies available at low cost and lack of product differentiation are likely to hamper the market growth. Innovation in sensor technology by using new introduced raw materials such as polymer is expected to lower the cost, weight and size of the electronics good. This is expected to impact the market growth. Emerging retail and media applications, emerging applications of the capacitive sensors in the field of nanotechnology and curved touch sensors are the key opportunities to spur the market growth globally in coming years.
The products of electronic goods sensors market are categorized in to image sensors, touch sensors, motion sensors, position sensors, temperature sensors and pressure sensors. Continuous growth of the capacitive touch sensors, consumer preference of wearable devices, enabled devices in the consumer electronics sector and increasing demand of the all-in-one PCs are the major key drivers to spur the touch sensors market over the forecast period. Motion sensors are expected to spur the market growth due to growing demand for tablet PCs, notebooks & mobile phones, demand in gaming used and demand in image stabilization applications. It is also used in cars for anti braking system to avoid accidents. Hence increasing demand of automobiles is also going to increase the market growth. Temperature sensors are going to augment the market growth due to the need of temperature monitoring in hard drives of PC and laptops and increasing government intervention. Optical sensors have application in military sector to detect the threats, while electromagnetic sensors are used in measurement of efficient delivery of utility in smart grid technology and reduction of CO2 emission. Image sensors are expected to drive the market growth owing to demand for camera-based mobile phones and tablets, automation in factories and industries, improved efficiency due to BSI technology and need of security and surveillance cameras. In addition to that biosensors, position sensors, accelerometer sensors are expected to drive the global market growth in coming years.
The consumer electronic goods sensors include application segment such as comprises entertainment, IT, home appliances and communication devices. Electronics, military &avionic, industrial automation, mobile devices, medical equipments, building & infrastructure and security &transportation are also some of the prominent application sectors in consumer electronic goods sensors. Increasing acceptance of accelerometers & gyroscopes in consumer electronics combined with innovative applications such as biometrics, gesture recognition, motion sensing are expected to drive the market growth worldwide over the forecast period.
Being developed regions, North America and European countries are going to witness the highest growth owing to technological advancements. The U.S. is going to be largest regional market in North America. Asia Pacific is going to witness fastest growth owing to increasing population demanding for more consumer goods as well as developing economic conditions in region. Low manufacturing cost, availability of cheap labour and dominance of original equipment manufacturers are the key drivers in Asia Pacific for the growth of the market.
Bosch Sensortec, ST Microelectronics, Freescale Semiconductor, Texas Instruments, Knowles, Alps Electric Co. Ltd., Atmel Corporation, Analog Devices, Inc., Cypress Semiconductor Corporation, Toshiba Corporation and Panasonic Corporation are the key participants in the consumer electronic good sensors market. The players are going to face competition globally due to increasing technological explosion.
Research Support Specialist, USA