FREMONT, CA: Technavio, a market research company, announces the results of its latest research– stating that the global sensor module for mobile devices market is expected to reach over USD 52 billion in revenue by 2020.
The research report titled ‘Global Sensor Module for Mobile Devices Market 2016-2020’ by Technavio, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all leading regions.
The Technavio research report states that the global sensor module market for mobile devices will grow at a compound annual growth rate of the (CAGR) of 9% during the forecast period of 2016 to 2020.
The use of sensors in mobile phones enables an increasing number of applications such as motion sensing, navigation, gesture recognition, and ambient sensing. Therefore, mobile device manufacturers are increasingly focusing on sensor integration as it is an integral part of all mobile devices.
Factors such as the low-cost smartphones, growing adoption of wearables, and the rising demand for mobile devices from emerging markets will aid in the growth of this market as most mobile devices come integrated with sensor modules.
Comprehensive market research carried out by the analysts at Technavio has shown that the market for sensor modules for mobile devices will be positively affected by the demand for combo micro-electro-mechanical systems (MEMS) inertial sensors. A MEMS combo sensor is a combination of multiple sensors manufactured using microfabrication technology. In such sensors, two or more sensors, such as accelerometers, gyroscopes, and magnetometers, are fused together to enhance efficiency. Since these sensors take less space, they can be embedded into a single system. Due to the rising popularity of combo sensors, OEMs will be compelled to replace discrete sensors with combo sensors.
Global sensor module market for mobile devices by geography 2015
The APAC region occupies 51.9% of the mobile devices market. The Americas occupies 25.9%, and the EMEA 22.2% of the mobile devices market, according to the Technavio report.
The top three segments of the global sensor module for mobile devices market include Smartphones, tablets and wearables.
Smartphones are the largest segment of the global sensor module for mobile device market. The global sensor module market for smartphones was valued at close to USD 25.92 billion in 2015.Smartphones include sensor modules such as accelerometers, gyroscopes, magnetometers, GPS, proximity sensors, image sensors, Wi-Fi, and Bluetooth. These sensors are used to provide data with precision and accuracy, and offer the user multiple applications such as gesture control and detecting motion and position.
Smartphones also come with embedded environment sensors that monitor temperature, pressure, and humidity. These sensors are used for ambient sensing, which helps control heating, ventilation, and air conditioning (HVAC) in smart homes.
Tablets take the second largest segment of the global sensor module for mobile device market. The tablet market is going through a transition phase, wherein manufacturers are introducing hybrid variants to boost sales.
Global sensor module market for mobile devices by wearable application
The wearable market is in its nascent stage and is expected to grow significantly during the forecast period. The wearable segment was valued at around USD 2.24 billion in 2015 and is likely to grow at a steady pace until 2020.
Due to the steady adoption by consumers, the market for sensor modules is expected to witness substantial growth until 2020. Although, this segment will mostly be driven by smartwatches and smart bands, other wearables such as smart eyewear and fitness trackers will also contribute to growth.
“The market for mobile devices, which includes smartphones, tablets, and wearables, is growing at a rapid pace. Sensors help incorporate applications, such as motion sensing, navigation, gesture recognition, and ambient sensing. Therefore, sensors form an integral part of all mobile devices,” says Asif Ghani, a lead analyst in Technavio’s department for sensors research.