Global Sensor Hub Market Size, Segments, Emerging Technologies and Market Growth by Forecast to 2030
Market Scope
Market Research Future (MRFR) projects the sensor hub market 2020 to advance to a size of USD 33.77 Billion by 2023. It is
also expected that the market can progress at a rate of 20.9% between 2017 and
2023, which is the appraisal period. We will provide covid-19 impact analysis
with the report, offering an in-depth review following the coronavirus disease
outbreak.
COVID-19 Impact Analysis
Since the SARS-CoV-2 outbreak, multiple companies have had to encounter
tough decisions, with respect to financial decisions as well as cost-cutting
measures that can ensure continuous flow of operations. The lockdown situation
has been the short term impact of the novel coronavirus, which has led to a
weaker demand from the hyperscale cloud service and smartphone providers. The
plummeting demand has had a domino effect in the semiconductor industry, with
the falling prices and vendors pulling back their current fab plans. COVID-19
outbreak has also led to shutting down of operations, e-commerce and retail
stores, resulting in supply chains collapsing and creating a bigger gap between
the demand and supply ratio.
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Keeping in mind the long-term impact of COVID-19, governments across
the globe are doing everything they can by coming up with favorable initiatives
and policies such as exceptions in tax, financial packages as well as lower interest
rate. The work from home strategies, which are the prevalent norm among
companies at present and the emerging trend of the BYOD policies, can also
induce demand for connected devices, computers, laptops, and various storage
solutions in the post pandemic era. While the countries are rushing to achieve
a COVID-19 breakthrough, the demand for sensor hub is expected to surge rapidly
in the following period.
Growth Inducers and Key Barriers
In April 2020, CEVA Inc., a renowned licensor of smart sensing and
wireless connectivity technologies, launched SensPro, which is touted to be the
first high performance sensor hub that can handle a vast range of sensor fusion
and sensor processing workloads for diverse devices such as AR/VR headsets,
automotive, voice assistants, robotics, smartphones, and more. This is one
instance of the many product launches currently taking place in the sensor hub market,
which not only helps the company survive but also thrive. Product launches and
similar strategies such as agreements and collaborations help the company improve
its revenue stream and induce market growth as well.
The sensors hub market can also be bolstered by the escalating
need for low power generating solutions in wearable and mobile devices. The
demand for low power using mobile devices is quite high that can function for longer
period at faster rate without less battery drainage. For this, mobile
manufacturers are increasingly embedding their mobile devices with sensor hubs,
since they help gather sensor data without using the main processor and helps
save the device’s battery life.
The persistent surge in the need for solutions such as sustainable
and renewable solar, biofuel energy can also drive the expansion rate of the
market in the following period. The rising adoption of different types of
latest technologies among consumers and the increasing popularity of wearable
devices could also result in revenue generating opportunities for market
vendors during the appraisal period.
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Market Segmentation
The sensor hub industry has been considered for types, processor
type, devices, applications and end-users.
The types of sensor hub available in the global market include gyro
sensors, hall sensors, proximity sensors, temperature sensor, magnetic sensors
and more.
The processors type-based categories are programmable and fixed
logic, application sensor processor, sensor integrated microcontroller, discrete
sensor processor and others.
Devices that are embedded with sensor hub are wearable devices, tablets,
IoT and connected devices as well as smart phones.
Application areas of sensor hub are positioning and navigation, health
and fitness, augmented reality and gaming, activity monitoring, voice command,
gestures navigations and more.
The prime end-users in the target industry include automotive, healthcare,
telecommunication education, government & defense, media and entertainment,
consumer electronics, commercial, and others.
Regional Insight
APAC or Asia Pacific, North America, Europe and the Rest of the
World or RoW are the primary markets for sensor hub across the globe.
North America is the clear leader in the global market, generating
the highest revenue due to the large number of renowned players present in the
region. The strong financial conditions and the well-developed automobile
industry that are generally use smart operating systems work in favor of the
regional market. The thriving smartphone market and the increasing integration
of sensor hubs in the smartphones developed by manufacturers also add to the
market strength in the region.
The market in APAC can record the most attractive growth rate in
the next several years, as a result of the mounting number of electronic device
manufacturing plants along with increasing digitalization. High investments in
smart city projects coupled with the widespread demand for consumer devices like
game consoles, smart TV’s, tablets, wearable devices and smartphones in India
and China have also led the market to great heights in recent years. COVID-19
impact on the regional market can be drastic, with manufacturing plants closing
down and workforces following the social distancing practice. However, experts
anticipate the semiconductor industry in the region to remain resilient in the
coming years, with surge in mergers and acquisitions as well as the sustainable
growth of the smartphone industry.
The market study reveals that the European market can perform well
in the next couple of years, with emerging opportunities in automotive,
consumer electronics, military, healthcare and industrial industries.
Leading Competitors
Leading competitors in the market include Rohm Co. Ltd. (Japan),
Invensense Inc. (U.S), Analog Devices, Inc. (U.S), Texas Instruments Inc.
(U.S), Broadcom Limited (U.S), Memsic, Inc.
(US), Microchip Technology Inc. (US), Robert Bosch GmbH (Germany),
Qualcomm Technologies (U.S), STMicroelectronics N.V. (Switzerland), NXP
Semiconductors N.V (Netherland), Intel Corporation (U.S), Infineon Technologies
AG (Germany), to name a few.
Latest Developments
May 2020
Samsung has unveiled its new offering; 50MP image sensor called ISOCELL
GN1 with gyro-based electronic image stabilization along with DSLR-Level autofocus
performance, as well as enhanced low-light chops.
Read More-
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