The Sensor Hub Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Sensor Hub Global Market Report 2024, The sensor hub market size is expected to see exponential growth in the next few years. It will grow to $78.54 billion in 2028 at a compound annual growth rate (CAGR) of 21.8%. The growth in the forecast period can be attributed to increasing internet penetration, increase in demand for low-power generating solutions, increase in internet usage and data consumption, consumer electronics evolution, growing urbanization and industrialization. Major trends in the forecast period include new product innovation, advancements in IoT technology, technological advancements in wireless communication, early adoption of smart home technology, and strategic mergers and acquisitions.
The increase in popularity of digitalization is expected to propel the growth of the sensor hub market going forward. Digitalization is the process of utilizing digital technologies to reshape a business model, creating new avenues for revenue generation and value creation. The increasing digitalization is due to the tech-savvy population, transparency, automation, reducing human errors, and optimizing operations. Sensor hubs provide the sensor integration, data processing, and management efficiency required to build advanced digital products, services, and IoT systems. For instance, in October 2023, according to the Australian Bureau of Statistics, an Australia-based government administration, from 2021 to 2022, digital activity in Australia surged by 8.6%, totaling $10.9 billion, whereas the overall Australian economy saw a growth of 11.7%. In 2021–22, all sectors of digital activity grew. Notably, e-commerce retail witnessed a remarkable increase of 12.6% in 2021–22, following a substantial surge of 41.8% in the preceding year. Therefore, the rise in popularity of digitalization is driving the growth of the sensor hub market.
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The sensor hub market covered in this report is segmented –
1) By Processor Type: Application Sensor Processor, Discrete Sensor Processor, Sensor Integrated Microcontroller, Other Processor Types
2) By Devices: Smart Phones, Tablets, Wearable Devices, Internet Of Things And Connected Devices, Other Devices
3) By Applications: Positioning And Navigation, Health And Fitness, Augmented Reality And Gaming, Activity Monitoring, Voice Command, Gestures Navigations, Other Applications
4) By End-Use Application: Consumer Electronics, Automotive, Industrial, Military, Healthcare, Telecommunications, Other End-Use Applications
Major companies operating in the sensor hub market are developing kits for IOT sensor engineering with printed electronics technologies. Kits for IoT sensor engineering with printed electronics technologies are tools and components designed to help engineers, researchers, and hobbyists create and prototype Internet of Things (IoT) sensors using printed electronics. For instance, in February 2023, Henkel, a Germany-based multinational chemical and consumer goods company, launched the Henkel Qhesive Solutions Sensor INKxperience Kit. The kit showcases Henkel’s innovative inks for smart product applications. It includes four core technologies such as, a leak detection sensor, a non-contact liquid level sensor, a positive temperature coefficient (PTC) heater, and single and multi-zone force sensitive resistors (FSR). The component is reusable and pre-configured with hardware and software for quick data readout, making it easier to design, prototype, and engineer next-generation IoT sensors.
The sensor hub market report table of contents includes:
1. Executive Summary
2. Sensor Hub Market Characteristics
3. Sensor Hub Market Trends And Strategies
4. Sensor Hub Market – Macro Economic Scenario
5. Global Sensor Hub Market Size and Growth
….
32. Global Sensor Hub Market Competitive Benchmarking
33. Global Sensor Hub Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Sensor Hub Market
35. Sensor Hub Market Future Outlook and Potential Analysis
36. Appendix
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