According to
the new market research report "Sensor Hub Market by Processor
Type (Application Sensor, Discrete Sensor, Sensor Integrated Microcontroller),
End-Use Application (Consumer Electronics, Automotive, Industrial, Military,
Healthcare), and Geography - Global Forecast to 2023", the sensor hub market
was valued at USD 9.87 Billion in 2016 and is expected to reach USD 32.53
Billion by 2023, at a CAGR of 18.9% during the forecast period.
The sensor
hub market is driven by factors such as the steady growth in the number of
integrated sensors in smartphones and the increasing use of 6-axis and 9-axis
sensor solutions or use of sensor fusion within devices.
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“Application
sensor processor segment expected to be the largest market during the forecast
period”
The
application sensor processor segment is anticipated to hold the largest share
in the sensor hub market. This solution reduces the cost of the system by
eliminating the need for a separate sensor data processor and reducing design
built complexities. Discrete sensor processor is expected to hold
second-largest share in the sensor hub market during the forecast period. This growth
is attributed to the extensive use of discrete sensor processors in wearable
devices.
“Consumer
electronics end-use application expected to grow at the highest CAGR between
2017 and 2023”
The sensor
hub market for the consumer electronics end-use application is expected to grow
at the highest CAGR during the forecast period. This growth is attributed to
the increasing use of sensors in consumer electronics devices, including
smartphones, tablets, wearables, and gaming equipment. The sensor hub technology
is used in these devices to provide logical on-loading and offloading of
different sensors used for various applications such as gesture recognition,
image stabilization, navigation, and motion-based gaming.
“North
America dominated the sensor hub market in 2016”
North
America is home to some of the prominent companies in the overall sensor hub
market including Microchip Technology, Inc. (US), Analog Devices, Inc. (US),
Qualcomm Incorporated (US), Intel Corporation (US), Acuity Brands (U.S.),
Memsic, Inc. (US) and Texas Instruments Inc. (US). This is the major reason for
its dominance in the sensor hub market. Growing demand for home automation
products and health monitoring devices are the factors boosting the growth of
the sensor hub market in the US. North America is an important hub for consumer
electronics products, especially smartphones and wearable devices, which
prominently use the sensor hub technology. This region has the highest number
of end users for healthcare wearable devices. This market is expected to grow
at a steady pace during the forecast period.
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Major players involved in the sensor hub market include Microchip Technology, Inc.(US), STMicroelectronics N.V. (Switzerland), Robert Bosch GmbH (Germany), NXP Semiconductors N.V.(Netherland), RoHM Co. Ltd. (Japan), Analog Devices, Inc.(US), InvenSense, Inc. (US), Intel Corp (US), Infineon Technologies AG (Germany), RoHM Co. Ltd. (Japan) and Memsic, Inc. (US).
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MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
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