Global Sensor Hub Market was valued at US$ 9.91 Bn in 2020 and is expected to reach US$ 39.71 Bn by 2026, at a CAGR of 18.95% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.Global Sensor Hub MarketThe objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding sensor hub market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, the report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders prioritizing the efforts and investment in the near future to emerging segments in the sensor hub market.
The Sensor Hub is a microcontroller unit that offers information and knowledge through different sensors. The global sensor hub had a market size of US$ 9.91Bn in 2017 and expected to reach a higher level in the forecast timeframe. Numerous trends are impacting sensor hub markets that include power management, always-on sensing, algorithm, consumer demand, and contextual awareness, cost of components, connectivity, and others.
The demand for sensor hubs has grown considerably due to elements used for low-power sensor processing tasks, is booming in the forecast period. The sensor hub is integrated as a system-on-chip (SoC) and is proposed for a wide range of wearable health devices and applications.
Likewise, Gyro sensors, temperature sensor, magnetic sensors, hall sensors, proximity sensors, and among others are several sensors are widely used in the smartphone. The smartphone processor that connects to the camera's sensors helps to decrease power consumption. This chip allows the phone to run progressive activity-recognition algorithms which allow consumers to check their notifications.
The growing need for low power generating solutions, steady growth in the number of integrated sensors in smartphones, and increasing use of 6-axis and 9-axis sensor solutions or use of sensor fusion within devices are the major driving factors of the sensor hub market. Advancements in consumer electronics applications and wearable devices and application processor-based sensor hubs to attract future market growth are the opportunities for the growth of the market.
Based on Processor Type, the Application sensor processor segment anticipated being the largest market during the forecast period. The application sensor reduces the cost of the system by reducing the need for a separate sensor data processor and reducing design built complexities. The Discrete sensor processor is likely to hold the second-largest share in the sensor hub market during the forecast timeframe.
Based on the application, the consumer electronics applications expected to grow at the highest CAGR during the forecast period. This growth is due to the growing demand and 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 several applications such as navigation, gesture recognition, image stabilization, and motion-based gaming.
Geographically, North America holds the highest CAGR and expected to remain dominant throughout the forecast period. Rising demand for home automation products and health monitoring devices are the factors increasing the growth of the sensor hub market in the US. North America is an important hub for consumer electronics products, mainly smartphones, and wearable devices, which prominently use the sensor hub technology. This region has the highest number of end-users and key players for healthcare wearable devices.
The Scope of the Global Sensor Hub Market:Global Sensor Hub Market Key Players Operating in the Global Sensor Hub Market:
• Texas Instruments Inc.• STMicroelectronics N.V.
• NXP .Semiconductors N.V
• Invensense, Inc.
• Rohm Co. Ltd.
• Intel Corporation
• Infineon Technologies AG
• Memsic, Inc.
• Microchip Technology Inc.
• Robert Bosch GmbH
• Analog Devices, Inc.
• Broadcom. Limited
• Qualcomm Technologies
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