The sensor hub market is expected to reach USD 32.53 Billion by 2023, at a CAGR of 18.9% between 2017 and 2023. The growth of this market is propelled by the steady growth in the number of integrated sensors in smartphones, the need for a low-power solution, and the use of sensor fusion in devices.
The discrete sensor processor dominated the sensor
hub market in 2016. This dominance is attributed to the use of discrete sensor
processor hubs in wearable devices as well as the higher power saving
advantages offered by this processor type. The application sensor processor is
expected to hold the largest size of the sensor hub market during the forecast
period as it is being deployed by a large number of smartphone manufacturers
such as Apple, Inc. (US).
The consumer electronics end-use application is the
largest market for sensor hubs. This growth is attributed to the extensive use
of sensor hubs in smartphones, tablets, smart TVs, wearables, and gaming
consoles. All these devices use sensors for different activities such as
gesture recognition, image stabilization, navigation, motion-based gaming, and
health monitoring.
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North America dominated the overall sensor hub
market in 2016. Owing to the rising awareness for driver's safety and influence
of regulations and safety ratings for original equipment manufacturers (OEMs),
the system such as advanced driver-assistance systems (ADAS) is highly adopted
by automobile manufacturers, thereby driving the growth of the sensor hub
market in this region. The US is an important market in North America that
provides sensor hub solutions to OEMs of consumer electronics and automobiles.
North America is an important hub for consumer electronics products, especially
for smartphones and wearable devices, which prominently use the sensor hub
technology. This region has the highest number of end users for healthcare
wearable devices.
Technical complexity in sensor hub deployment is one
of the major challenges witnessed by the sensor hub market. There is a need for
advanced technical expertise for the effective deployment of sensor hubs in
products. Thus, emphasis needs to be given on the ease of integration of
sensors with microcontrollers as well as complete sensor hub systems for the
growth of the sensor hub market.
Market players such as Microchip Technology, Inc.
(US), Inc., NXP Semiconductors N.V. (Netherland), STMicroelectronics
N.V.(Switzerland), Robert Bosch GmbH (Germany), and Intel Corp (US) are
focusing on product launches and developments, mergers, acquisitions, and
collaborations to enhance their product offerings and expand their business.
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