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Sensors Market Size to Reach Around USD 508.64 Billion by 2032

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Ottawa, Jan. 20, 2023 (GLOBE NEWSWIRE) — According to Precedence Research, the global sensor market size is expected to hit around USD 226.91 billion in 2023. Rising automobile & machine production, IoT applications, and an inclination towards digitalization & process optimization in the private and industrial sectors drive the sensors industry. Furthermore, the development of novel technologies, including microelectromechanical systems, photoelectronic & optoelectronics, will propel industry development.

Key Highlights:

  • Asia Pacific has captured revenue share of more than 40% in 2022.
  • The North American sensors market is Expected to reach at a CAGR of 8.2% between 2023 to 2032.
  • By type, the biosensor segment has accounted revenue share of 11.93% in 2022.
  • Others type segment has generated revenue share of 60.45% in 2022.
  • By technology, the CMOS segment has held the maximum share in 2022.
  • By end user, the electronics segment has generated highest revenue share of 51% in 2022. However, industrial segment is expected to lead the market in the near future.

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Type Landscape

The market is segmented into biosensors, optical, RFID, image, temperature, touch, proximity, pressure, and level sensors, among others. With a CAGR of 8.7% between 2023-32, the image sensor demand is anticipated to grow due to its increasing use in smartphones coupled with the growing demand for these devices. Moreover, on-demand photography is one of the key factors driving the development of image sensors to produce sophisticated cameras embedded in these devices. 

In addition, the growing trend toward connected automobiles due to the increase in traffic accidents is fueling the demand for small, reliable, and affordable image sensors. These sensors are used in camera-based systems for driver monitoring, automated emergency braking, 360-degree surround vision, autonomous driving, video mirror, rearview, comfortable and secure riding, and more. Additionally, they are used widely in barcode scanners that are becoming more popular in the healthcare sector to obtain real-time information about assets, medical supplies, and personnel. Moreover, the growing need for medical care brought on by the prevalence of chronic diseases is fueling market expansion.

Technology Landscape

Based on technology, the sensor market is differentiated into CMOS, MEMS, and NEMS. The MEMS technology is expected to expand with a CAGR of 8.6% in the projected period, 2023-2032. Inertial sensors made with MEMS technology are low-cost, high-precision devices that can be applied in various industrial settings. There are benefits to MEMS technology on its own, and MEMS sensors offer practical features in every other sensor line with no space limitations.

Additionally, MEMS uses minimal micromachine parts; each MEMS sensor is so tiny that it may easily fit in the palm of your hand. MEMS sensors also feature an IP67 seal. This is necessary since the sensors must be able to tolerate extreme temperatures between 40 and +85 ℃. The majority of sectors that employ MEMS sensors work in harsh environments.

End User Landscape

Based on end users, the sensors market is segmented into healthcare, IT/telecom, automotive, industrial, and aerospace & defense. Due to the demand for safety-critical, safety-related, or high-reliability solutions, the aerospace and defense industry is one of the major consumers of sensors. For instance, sensors can alert a pilot or maintenance professional to most internal faults, decreasing downtime and maintenance expenses. Additionally, sensors are used frequently in various aviation systems, including landing gear, flight control, aircraft doors, cargo loading systems, and evacuation side locks.

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Scope of the Report

Report Attributes Details
Market Size in 2022 USD 204.8 Billion
Revenue Forecast by 2032 USD 508.64 Billion
CAGR 8.40% from 2023 to 2032
Asia Pacific Revenue Share 40% in 2022
Biosensor Revenue Share 11.43% in 2022
Image Sensor Revenue Share 5.37% in 2022
Base Year 2022
Key Players Demant A/S, Starkey Laboratories, Inc., Cochlear Ltd., RION Co., Ltd, Microson, GN Store Nord A/S, Sonova Group

Regional Landscape

Asia Pacific will see the fastest growth rate, accounting for approximately 42% of the global sensors market share by 2032. In contrast to established nations, the APAC region’s application of sensors is still developing and expanding due to the trend of smart devices, industry 4.0, and IoT. The Asia Pacific region’s major sensor markets are nations like China and Japan. 

There is a high demand for various components used in the development and manufacturing of different automotive products and consumer electronics since the Asia Pacific region represents a hub for the manufacturing facilities of numerous companies operating in various industrial verticals, such as the automotive industry. The demand for consumer devices is also fueled by increased consumer discretionary income, accelerating the development of battery-free sensors.

For instance, because of the government’s pro-market policies, the migration to smart or automated manufacturing has quickened in nations like South Korea as businesses quickly change to integrate Industry 4.0 aspects. Over the past few decades, South Korea’s automobile industry has evolved from a small, government-controlled sector to one dominated by major global businesses. Significant companies like Kia, Hyundai, and Renault are based in the nation, and demand for cars is anticipated to increase gradually.

Market Dynamics for the Global Sensors Market 

Market Driver

Elevated Demand for Wearable Devices

Portable electronics are typically used to recognize external signals and act accordingly. The expansion of flexible wearable electronics’ engineering applications for artificial intelligence and health monitoring is a result of their rapid development. Sensing devices are regarded as crucial components of flexible wearable electronics. They are used in health monitoring to transform physiological information into electrical signals, such as blood pressure, heartbeat, and joint bending. 

Due to their straightforward structural design, which translates physical motion into electrical impulses, they are the most often used in human health monitoring and human-machine interface. These sensors can pick up on daily activities carried out by people, such as breathing, pulsation, joint and muscle movement, etc. Significant research efforts have been performed to create a new generation of sensors with mechanical flexibility and potential sensibility. As a result, the aspects above will propel the market for sensors during the anticipated period.

Market Restraint

Rigorous Performance Specifications from a Sophisticated Sensor Application:

Since sensor characteristics differ depending on the final use or application, sensing performance and ensuring measurement accuracy is a critical issue for the growth of this industry. Essential applications for industrial automation firms have unique specifications, such as an enhanced standard of precision. Building automation applications call for ongoing management and supervision. As a result, producers must adhere to strict specifications based on end operations. This issue is amplified by volume discounting in the case of inexpensive sensors. Simplicity in integration, expertise, and high precision levels are requirements for sensors to meet market demand.

Market Opportunity 

Advancements in Environmental Sensors:

Global adoption of customizable environmental-based sensors for environmental condition monitoring has increased. The advancement of artificial intelligence-based interfaces in environmental sensors, such as gas, temperature, and smoke sensors, has resulted in preserving climatic conditions. The system has several advantages on an industrial scale, including constant monitoring of chemical discharges and helping to reduce them to safeguard natural resources. Various environmental-based sensors, including biosensors, are being brought to the market to track adverse environmental pollutants. Thus, several businesses are trying to create and develop environment-based sensors to fulfill the demand.

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Key Developments in the Sensors Market 

  1. In September 2022, DENSO Corporation revealed that it had increased the detecting angle of its vision sensor to improve road safety. This will enable the sensor to identify bicycles and people near a car better.
  2. In May 2022, Advanced global-shutter image sensors from STMicroelectronics were available for reliable, cost-effective driver monitoring safety systems. Using investment in cutting-edge 3D-chip technology, the second-generation automobile global-shutter image sensor streamlines the design of driver monitoring systems (DMS).
  3. In March 2022, the brand-new barometric pressure sensor BMP581 was presented by Bosch Sensortec. The new Bosch BMP581 sensor provides a new level of accuracy while building on the excellent performance and low power consumption of earlier generations of Bosch sensors. 

The key players operating in the global sensor market:        

  1. STMicroelectronics NV
  2. Bosch Sensortec GmbH.
  3. ABB Group
  4. Siemens AG
  5. OMRON Corporation
  6. Texas Instrumental Incorporated
  7. Drägerwerk AG & Co. KGaA
  8. Samsung Electronics Co Ltd.
  9. International Sensor Technology
  10. DENSO Corporation
  11. NXF Semiconductors
  12. Honeywell International Inc.

Segments Covered in the Report

By Type

  • Biosensor
  • Optical Sensor
  • RFID Sensors
  • Image Sensor
  • Temperature Sensor
  • Touch Sensor
  • Flow Sensors
  • Pressure Sensor
  • Level Sensor
  • Others

By Technology

  • CMOS
  • MEMS
  • NEMS
  • Others

By End User

  • Healthcare
  • IT/Telecom
  • Automotive
  • Industrial
  • Aerospace & Defense
  • Others

By Region

  • North America
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • Rest of MEA

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Artificial Intelligence

Astro, Malaysia’s Largest Broadcaster Selects Amagi and AWS to transition Playout Services to the Cloud

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KUALA LUMPUR, Malaysia, May 29, 2024 /PRNewswire/ — Amagi, the leader in cloud-based SaaS technology for broadcast and connected TV (CTV), deployed on Amazon Web Services (AWS), today announced its partnership with Malaysia’s leading media and entertainment company – Astro Malaysia Holdings Berhad (Astro). 

Astro, Malaysia’s leading content and entertainment company, in partnership with Amagi, is modernizing systems and infrastructure for the playout and origination of its existing Linear Channels and Playout Disaster Recovery capabilities and transitioning them to AWS, the world’s most comprehensive and broadly adopted cloud. This marks a milestone in ASEAN’s broadcast industry. The Amagi playout deployment will help Astro optimize its media operations, enhance business agility, increase service resilience, and mitigate the risks of maintaining legacy systems.
The upcoming launch of the AWS Asia Pacific (Malaysia) Region complements Astro’s ongoing broadcast transformation journey, which aims to further enable the deployment of innovative media and entertainment solutions. By capitalizing on the robust cloud infrastructure, unparalleled scalability, and advanced services provided by AWS, Astro aims to further improve enhanced in-country network infrastructure resiliency and performance, thus delivering enriched customer experiences.
Defining the Future of Broadcast
Broadcasters have traditionally managed their channel automation and playout systems within on-premises data centers. As Astro continues its expansion across multiple regions, the organization will see workflows being optimized, media operations enhanced, and playout system management streamlined. To further complement the company’s pursuit of these goals, Astro will implement Amagi’s flagship products on AWS: the Amagi CLOUDPORT channel playout platform and the Amagi MONITORING solution. These advanced solutions will support Astro’s commitment to operational excellence, offering enhanced resiliency and enabling quicker upgrades to service capabilities, thereby meeting the evolving needs of the broadcasting landscape.
Mauro Di Pietro Paolo, Chief Technology Officer at Astro said, “As Malaysia’s leading broadcaster, Astro continues to drive innovation, and our partnership with Amagi underscores our continuous dedication to pioneering advancements in the industry. At Astro, we needed a playout platform that would align with our vision for transformation in our broadcast and media operations, have in-built disaster recovery capabilities, and provide a modernization path for our end-of-life on-premises systems. We’ve selected Amagi because of their proven track record of deploying playout systems on AWS and have demonstrated their ability to be a transformational platform.”
Srinivasan KA, Co-Founder and Chief Revenue Officer at Amagi said, “We are delighted to partner with Astro, one of the most innovative and forward-looking media companies in Asia, to help them achieve their cloud transformation goals. By leveraging our cloud-native solutions built on AWS’s global infrastructure, we can provide Astro with a scalable, secure, and cost-effective playout platform to support their current and future needs. This collaboration also demonstrates our commitment to empowering media companies with cutting-edge cloud technology and best-in-class service.”
“The broadcast industry is rapidly changing, requiring broadcasters to stay competitive with increased agility, resiliency, cost efficiency, and unified workflows, which can be achieved with AWS cloud. AWS is proud to work with solutions providers like Amagi to drive the industry forward,” said Pete Murray, Country Manager at AWS. “We’re thrilled to see our long-term customer Astro continue its transformative journey to delight their customers, and with Amagi, we look forward to digitalizing and advancing the future of Malaysia’s media and entertainment industry.”
Amagi and Astro launched broadcast station playout origination on AWS for the first channels and disaster recovery services in May 2024. This marks the first large-scale, cloud-based playout solution by a broadcaster in Malaysia. To meet the ever-changing needs of these networks, Amagi will continue to work closely with Astro to scale and evolve its Amagi CLOUDPORT solution.
About Astro
Astro Malaysia Holdings Berhad (Astro) is Malaysia’s leading content and entertainment company, serving 5.3 million homes or 67% of Malaysian TV households, 8,400 enterprises, 18.2 million weekly listeners across FM radio and online, and 15.6 million visitors to our digital brands every month. We serve Malaysians with 3 distinct services – Astro Pay-TV, NJOI Prepaid and sooka, our own OTT for the millennials; and Astro Fibre, our own broadband service, offers greater value with its content-broadband bundles. Close to a million homes are already streaming the best of home entertainment via our Hybrid 4K UHD Ultra Box and HD Ulti Box, which can be self-installed and run on both satellite and broadband. Today, our customers enjoy streaming our local signatures, Astro Originals, live sports and the best global shows from Netflix, Disney+ Hotstar, HBO GO, iQIYI, TVBAnywhere+, beIN SPORTS CONNECT, BBC Player, Viu, ZEE5, WeTV, Qalbox by MuslimPro, and our own TV companion app Astro GO. Astro Radio, home to the country’s highest-rated radio brands across all key languages, and our digital brands including AWANI, SYOK, Gempak, Xuan and Astro Ulagam, connect Malaysians to content and stories that matter.
About Amagi 
Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute, and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24×7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 800+ content brands, 800+ playout chains, and over 3800+ channel deliveries on its platform in over 150 countries. Amagi has a presence in New York, Los Angeles, London, Paris, Melbourne, Seoul, Singapore, and broadcast operations in New Delhi, and innovation centers in Bangalore, Zagreb, and Lodz.
About Amazon Web Services
For over 15 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS offers over 200 fully-featured services for compute, storage, databases, networking, analytics, machine learning, and AI, Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 102 Availability Zones (AZs) within 32 geographic regions around the world.
In March 2023, AWS announced plans to launch an AWS Infrastructure Region in Malaysia in 2024. As part of its commitment to the region, AWS is planning to invest $6 billion (approx. MYR 25.5 billion) in Malaysia by 2037.
Amagi Contact: Aashish WashikarDirector – Corporate CommunicationsEmail: [email protected] : +91 9533390005
Photo: https://mma.prnewswire.com/media/2423741/Amagi_and_AWS.jpg
 

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The European Patent Office, The world’s most powerful permanent magnet: Japanese inventor selected as finalist for the European Inventor Award 2024

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MUNICH, May 29, 2024 /PRNewswire/ — Magnets are all around us, they drive a wide array of modern technologies and exist in one way or another in almost every field on Earth. Permanent neodymium magnets are found nowadays in mobile phones, MRI scanners, electric vehicle motors, wind turbines and security systems as well as in jewellery, ABS brakes, pumps and generators. Their roles go from fastening boxes to helping generate electricity, guiding medical equipment and levitating components. The multifunctional benefits of magnets have changed the way our world works, and Sagawa’s neodymium magnets are a driving force behind the pervasive use of magnets worldwide. In recognition of his achievement, Sagawa is a finalist in the “Non-EPO Countries” category of the European Inventor Award 2024, having been selected by an independent jury from among 550 candidates for this year’s edition.

Motivated by the high price of cobalt at the time and inspired by the widespread availability and lower cost of iron, Sagawa set out in the late 70s and early 80s to find a replacement of cobalt-based magnet, but still be able to generate a robust, permanent magnetic field. He experimented with a wide variety of intermetallic compounds and phases before a breakthrough in the process led him to create the strong magnet. The process he developed is called sintering – a process that bonds the ground particles of his various magnetic components together using heat treatment. While magnets with similar compounds were being developed at the same time, this process made Sagawa’s magnet the strongest in the market.
Masato Sagawa is one of three finalists in the “Non-EPO Countries” category of the European Inventor Award 2024. The other finalists recognised for outstanding work are a Brazilian team led by Fernando Catalano and Micael Carmo for reducing noise and carbon emissions in air travel and American-based David Fattal for his advancements in display optics and software to create glasses-free 3D imaging. The EPO will announce the winners during a ceremony live-streamed here from Malta on 9 July 2024. In addition to each category, the EPO will reveal the Popular Prize winner, chosen by online public vote. Voting will remain open until the day of the ceremony. 
Web: https://www.epo.org/en

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TREEFROG THERAPEUTICS PICKS-UP BEST POSTER AWARD AT THE INTERNATIONAL SOCIETY FOR CELL & GENE THERAPY (ISCT) ANNUAL MEETING FOR THEIR CELL THERAPY PROGRAM IN PARKINSON’S DISEASE

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–  Treefrog will present two posters on their cell therapy program in Parkinson’s Disease and their proprietary encapsulation technology, C-Stem™ –  
BORDEAUX, France, May 29, 2024 /PRNewswire/ — TreeFrog Therapeutics has a busy schedule at the ISCT’s 30th annual meeting, taking place in Vancouver, Canada this week, with two posters being presented, one of which has been awarded the Best Poster in the iPSC category. A poster on their transformational encapsulation technology, C-Stem™, will also be presented. 

TreeFrog is a cell therapy company with a lead program in Parkinson’s disease, a complex neurodegenerative disease with no cure and treatments that offer symptomatic relief only. Decades of research demonstrate that cell therapy holds immense promise for Parkinson’s disease, with multiple clinical trials ongoing. However, the manufacturing of these cells must overcome major pharmaceutical challenges, including scalability, to be compatible with potential commercial phases. The cell therapy program at TreeFrog is based on C-Stem™, a proprietary technology platform that overcomes these challenges. In 2021, the company achieved a world-first of producing 15billion iPSCs in one run, in one week.
Michael Lanero Fidalgo, Chief Operating Officer, will represent the company for the Best Poster in the iPSC category, an award designed to recognize outstanding abstracts related to iPSC research. Poster #1219, First Off-The-Shelf Bioreactor Produced, iPSC-Derived Neural Microtissues Containing Dopaminergic Neurons Innervate the Striatum and Normalize Behavior in a Parkinson Rat Model, is also one of only twenty posters chosen for an elevator pitch presentation from the overall 600 considered.
Kevin Alessandri, co-founder and Chief Technology Officer, will present poster #1200 Cell encapsulation as a tool for stem cell-based cell therapy industrialization, a deep dive into how the C-Stem™ technology, can overcome the bottlenecks of the complex Chemistry, Manufacturing and Controls (CMC) in cell therapy. He will also participate as a KOL in the JSRM-ISCT iPSC workshop event iPSCs: From Bench to Bedside’ Scientific Signature Series.
Events:
Elevator Pitch presentation by Michael Lanero-Fidalgo, representing lead authors Nicolas Prudon & Lucia Cordero Espinoza May 29th, 2024 @ 12:00 – 13:00, Room 201iPSC Poster Presentation Networking reception (Posters #1219 & #1200) May 30th @ 18:00 – 19:30 Exhibit & Poster HalliPSC: Bench to Bedside: Scientific Signature Series, participation of Kevin Alessandri as KOL. June 1st, 2024 @ 7:30 – 16:00, Room 212-214www.treefrog.fr
CONTACT:  Rachel MooneyChief Communications OfficerTreeFrog Therapeutics [email protected]  
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