The global sensor market (henceforth, referred to as the market studied) was valued at USD 77.16 billion in 2019, and it is expected to reach USD 128.56 billion by 2025, registering a CAGR of 8.86%, during the period of 2020-2025

New York, May 07, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Sensors Market – Growth, Trends, and Forecast (2020 – 2025)” – https://www.reportlinker.com/p05891629/?utm_source=GNW
For instance, in case of drones, accurate measurement of barometric pressure is necessary for improving the stability and landing accuracy of flights. Moreover, industrial automation and the demand for miniaturized consumer devices, such as wearables and IoT-connected devices, among others, across regions, are among the major factors driving the sensors market. ?
– Industry 4.0 revolution, in which machines are becoming more intelligent and intuitive, is increasing the need for the industrial applications of sensors. The new machines are designed in order to be more efficient, safe, and flexible, with the ability to autonomously monitor their performance, usage, and failure. These applications, therefore, spur the demand for sensors that are highly sensitive. Besides, the smart city initiatives have pushed the acceptance of smart homes that incorporate the usage of smart devices. Increasing urbanization, as well as the need to manage the infrastructure and assets, is encouraging countries across the world to invest in multiple smart city projects. According to the Consumer Technology Association, the global spending on smart city developments is expected to reach USD 34.35 billion by 2020.?
– The market is witnessing innovations, which is set to further create competition in the market. For instance, Missouri University of Science and Technology is developing an electronic sensor that can detect viruses by analyzing someone’s breath. This can be used in future to manage the spread of an epidemic like coronavirus. A Dubai and Detroi-based startup, Derq, is developing a system, which uses a combination of sensors on roads, artificial intelligence, and computers in cars to notify drivers of potential hazards.
– In August 2019, MIT developed a new underwater sensor and communication system that neither requires batteries nor uses power. This could help set up an underwater IoT, which would allow for real-time sea temperature and marine life monitoring.Clare: clare@reportlinker.com
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