The global market for sensors, valued at $101.9 billion in 2015, should reach $113.2 billion and $190.6 billion in 2016 and 2021, respectively, reflecting a five-year compound annual growth rate (CAGR) of 11%.
Key factors in the robust growth of the sensor market include growing motor vehicle and machinery production, increasing shipments of process equipment, and government regulations requiring the auto industry to use various sensor technologies in its light vehicles. Also, new applications for technologies such as MEMS and photoelectronics are driving growth, as well. Lower cost is a key factor, resulting from maturation of many sensor markets and improved fabrication techniques.
- Learn about the role of sensors in various applications, including the technology and innovation behind their development and production
- Review the latest industry developments and product innovations with respect to environmental performance
- Gain insight into the industry’s competitive atmosphere for various emerging technologies and the new products utilizing them