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Sensor market projected to grow by USD 422.7 billion from 2024-2028, driven by rising demand for IoT devices and AI-driven market transformation – Technavio

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NEW YORK, Sept. 6, 2024 /PRNewswire/ — Report with the AI impact on market trends- The global sensor market size is estimated to grow by USD 422.7 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  21.92%  during the forecast period. Rise in demand for IoT technology-based devices is driving market growth, with a trend towards rise in adoption of wearable devic. However, increasing usage of network-embedded systems  poses a challenge. Key market players include ABB Ltd., Amphenol Corp., ams OSRAM AG, Dwyer Instruments Inc., Honeywell International Inc., Infineon Technologies AG, Johnson Controls International Plc, Microchip Technology Inc., NXP Semiconductors N.V., OMRON Corp., Panasonic Holdings Corp., Qualcomm Inc., Robert Bosch GmbH, Rockwell Automation Inc., Siemens AG, Sony Group Corp., Spectris Plc, STMicroelectronics International N.V., TE Connectivity Ltd., and Texas Instruments Inc..

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Sensor Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 21.92%

Market growth 2024-2028

USD 422.7 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

17.71

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

North America at 39%

Key countries

US, China, Japan, Germany, and France

Key companies profiled

ABB Ltd., Amphenol Corp., ams OSRAM AG, Dwyer Instruments Inc., Honeywell International Inc., Infineon Technologies AG, Johnson Controls International Plc, Microchip Technology Inc., NXP Semiconductors N.V., OMRON Corp., Panasonic Holdings Corp., Qualcomm Inc., Robert Bosch GmbH, Rockwell Automation Inc., Siemens AG, Sony Group Corp., Spectris Plc, STMicroelectronics International N.V., TE Connectivity Ltd., and Texas Instruments Inc.

Market Driver

Wearable gadgets, including smartwatches, smart bands, and headsets, have become increasingly popular in the consumer electronics industry. These devices, which are designed to be worn on the body, offer intelligent operation capabilities. In the healthcare sector, wearable electronics featuring sensors have gained significant traction, particularly in developing economies. Sensors, such as those found in fitness trackers, pulse oximeters, and medical-grade wearables, provide real-time health monitoring solutions with benefits like high accuracy, compact size, and resistance to electromagnetic radiation. The global sensor market is poised for growth due to the rising adoption of these devices. 

The sensor market is thriving with innovative technologies like Humidity sensor tech, led by Molybdenum sulfide (MoS2), reducing detection time. Sensor components such as microcontrollers, transceivers, amplifiers, ADC & DAC, and NEMS are key players. Industries like Industrial IT & telecom, Aerospace & defense, and Consumer electronics are major consumers. Trends include Luna Ring tech for noise reduction, Glucowear for healthcare, Sensirion for surveillance cameras, and RFID sensors for retail. NEMS sensors in IT/telecom, industrial sector, and aerospace & defense sector are game-changers. Smart devices, healthcare, security, automotive, and industrial sensors market are growing. Smartphone OEMs and biomedical applications use MEMS technology-based sensors. Weather forecast systems and IoT platforms also leverage sensor tech. 

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 Market Challenges

•         Embedded networking, a result of digital telecommunications advancements, connects embedded systems through network architecture, topology, hardware devices, and communication protocols. Embedded systems offer wired and wireless communication options for integrating networking features into devices. These systems are utilized in various smart gadgets and electronic goods, forming part of wireless sensing networks. However, adding sensors to devices increases cost and shortens their lifespan, which may limit the growth of the global sensor market during the forecast period.

•         The sensor market is experiencing significant growth due to the increasing demand for remote connectivity in various industries. Key sectors include automotive and industrial, where applications range from airbags and side airbags in motor vehicles to automated intelligent controls in manufacturing. The rise of electric vehicles and IoT-connected devices is driving the need for wireless networks, analytics solutions, and communication networks for remote monitoring. In the automotive sector, sensors like image sensors, radar sensors, and biosensors are crucial for security & surveillance and autonomous driving. The industrial sector relies on pressure sensors, temperature sensors, and humidity sensors for process control and optimization. Wearable electronics, medical equipment, and transportation & logistics sectors also contribute to the sensor market revenue. Challenges include ensuring reliable remote connectivity, designing chips and microelectronic packaging, and developing photonics for advanced sensor applications. Market segmentation includes optical sensors, motion sensors, and proximity sensors, among others, with revenue opportunities in gas or liquid sensors, touch sensors, and level sensors. Overall, the sensor market is diverse and dynamic, offering significant growth potential for businesses.

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Segment Overview 

This sensor market report extensively covers market segmentation by  

Technology 1.1 CMOS1.2 MEMS1.3 NEMS1.4 OthersEnd-user 2.1 Electronics2.2 IT and telecom2.3 Automotive2.4 Industrial2.5 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 CMOS-  The sensor market is experiencing significant growth due to increasing demand from various industries. Automotive, healthcare, and industrial sectors are major contributors. Advanced technologies like IoT and AI are driving innovation, leading to the development of smart sensors. Companies are investing in research and development to create more accurate and efficient sensors. This growth is expected to continue as sensors become essential components in modern technology.

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Research Analysis

The sensor market encompasses various industries, including consumer electronics, healthcare, and industrial applications. In consumer electronics, sensors enable features like touchscreens, motion detection, and biometric authentication in smartphones and smart devices. In healthcare, sensors are integral to medical equipment, such as heart rate monitors and glucose sensors. The healthcare sector also benefits from remote monitoring and IoT-connected devices for patient care. In the security and surveillance industry, sensors power surveillance cameras and access control systems. The automotive and transportation sector uses sensors for safety features, such as collision avoidance and lane departure warning systems. Industrial sensors are crucial for process control, quality assurance, and predictive maintenance in manufacturing and energy production. Smartphone OEMs integrate various sensors, including cameras, gyroscopes, and accelerometers, to enhance user experience. Cameras, including CMOS and NEMS sensors, are also used in security systems and industrial applications. Gas sensors detect hazardous gases in industrial settings and green energy technologies. Communication networks rely on RFID sensors for contactless data transfer and indoor navigation applications. High-accuracy motion sensors are used in video games and robotics.

Market Research Overview

The sensor market encompasses various industries, including consumer electronics, healthcare, smart devices, security and surveillance, automotive & transportation, industrial sensors, and more. Sensors play a crucial role in consumer products such as smartphones, wearable electronics, and cameras. In healthcare, sensors are used for biomedical applications, remote monitoring, and IoT-connected devices. MEMS technology-based sensors are popular in healthcare for applications like smart pills and biosensors. The automotive sector utilizes sensors for airbags, side airbags, and automated intelligent controls in electric vehicles. Industrial sectors rely on sensors for physical parameter detection in gas or liquid, temperature, pressure, humidity, and level. Radar sensors are used for security & surveillance and indoor navigation applications. The sensor market is segmented into various types, including optical, motion, pressure, temperature, humidity, and proximity sensors. The revenue for the sensor market is projected to grow significantly due to the increasing demand for IoT, wireless networks, and analytics solutions. Sensor components such as microcontrollers, transceivers, amplifiers, ADC & DAC, NEMS, and microelectronic packaging are essential for sensor functionality. The aerospace & defense industry uses sensors for Luna Ring technology and noise detection. In conclusion, sensors are integral to numerous industries, from consumer electronics to healthcare, automotive, industrial, and aerospace & defense.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyCMOSMEMSNEMSOthersEnd-userElectronicsIT And TelecomAutomotiveIndustrialOthersGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Lexmark Showcases New Printers and Technology Solutions for Retailers at NRF 2025

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NEW YORK, Jan. 12, 2025 /PRNewswire/ — Lexmark, a global imaging and IoT solutions leader, will showcase its cutting-edge, retail-ready printers and solutions at NRF 2025, Retail’s Big Show and Expo, Jan. 12 to 14, at the Jacob K. Javits Center in New York. The Lexmark showcase will be in booth #6321.

“Lexmark kicks off the year with a bang by showcasing our latest 9-Series family of A3 printers and MFPs at NRF for the first time,” said Tim Speller, Lexmark’s head of retail and manufacturing. “These sophisticated devices will usher in a new era of opportunity for retailers to maximize operational efficiency while increasing sales.”

Here’s what will be on display in Lexmark booth #6321:

New Lexmark 9-Series printers and MFPs are designed for challenging retail environments

Built by evolving Lexmark’s renowned A4 technology, the 9-Series delivers versatility, simplicity and sustainability. These solutions are easy to use and manage – perfect for any retail salesfloor or back office.

Key highlights of 9-Series:

Versatile and easy to use. The 9-Series offers a broad range of media size support (A6 to SRA3), high-volume duty cycles, a common set of modular paper-handling options, finishing capabilities and professional color features including PANTONE® calibration.Simple and easy to manage. The 9-Series’ intuitive interface streamlines workflows by providing simple instructions and prompts. For routine maintenance, toner cartridges can be replaced with one hand, easily understood visual cues are displayed, and serviceable areas are easy to access and identify.Sustainable and easy to feel good about. The 9-Series’ total post-consumer recycled (PCR) content is 56% by weight for all base-model MFPs and 73% by weight for the line’s base-model printer, based on IEEE calculation procedures. *Built to last. The 9-Series is designed and built to last seven years or more. Having few components helps reduce the likelihood of technical failure while also minimizing the service time required for repairs and maintenance. Experienced technicians can perform most common service actions, even highly complex tasks, in less than 15 minutes, according to Lexmark testing.

Lexmark Engagement Automation Platform (LEAP) helps retailers drive sales and foot traffic with hyper-local social media ads

LEAP automates one-to-one promotions that drive footfall to local stores. Store leaders can trigger hyper-personalized sale posts and boost ads based on individual store inventory conditions through loyalty program apps and social media platforms like Facebook and Instagram. With advanced analytics and reporting capabilities, LEAP provides the insights needed to measure success and make data-driven decisions.

Key highlights of LEAP:

Engagement: To engage shoppers, center promotions around customer buying patterns with an engagement automation platform that posts localized content – such as store-specific offers, events and locally grown produce initiatives.

Automation: Schedule and manage automatic localization and delivery of corporate promotional messaging with an engagement automation platform to reach consumers through social media with hyper-local content around each store or audience region.

Loyalty: Attract local customers with an engagement automation platform that sends store- and corporate-initiated offers to geo-fenced social media apps like Facebook and Instagram and loyalty program applications.

Supporting resources

Learn more about Lexmark’s booth at NRF 2025.

Read Lexmark’s NRF blog.

Schedule a booth meeting with our retail experts during NRF 2025.

Get more details about the Lexmark 9-Series.

Get more details about the Lexmark Engagement Automation Platform (LEAP).

Watch a video about LEAP.

Get the details on NRF 2025.

Follow us on LinkedIn for live NRF updates.

About Lexmark

Lexmark creates cloud-enabled imaging and IoT technologies that help customers worldwide quickly realize business outcomes. Through a powerful combination of proven technologies and deep industry expertise, Lexmark accelerates business transformation, turning information into insights, data into decisions, and analytics into action.

Lexmark and the Lexmark logo are trademarks of Lexmark International, Inc., registered in the United States and/or other countries. All other trademarks are property of their respective owners.

* PCR content measured in accordance with IEEE Std 1680.2a™ – 2017 Standard for Environmental Assessment of Imaging Equipment – Amendment 1 — which is the standard used by EPEAT.

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SOURCE Lexmark

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Pricer and Focal Systems Announce Strategic Collaboration to Drive the Next Step in Physical Store Digitalization

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Pricer, a global leader in digital shelf-edge solutions, and Focal Systems, a leader in shelf-edge AI, today announced a strategic collaboration to accelerate the digitization and optimization of the physical store for retailers worldwide.

STOCKHOLM, Jan. 12, 2025 /PRNewswire/ — This collaboration brings together Pricer’s innovations in dynamic pricing and shelf-edge communication with Focal Systems’ advanced computer vision and product availability solutions to maximize shopper satisfaction while optimizing retail operations.

As a pioneer in enabling dynamic pricing and digitizing shelf-edge shopper communication, Pricer has led the first step of the retail digitalization journey. Focal Systems has pioneered the application of computer vision to digitizing what products are available on-shelf or not in near real-time. Together, Pricer and Focal Systems will empower retailers to improve labor efficiency, reduce out-of-stocks, increase sales, and enhance shopper satisfaction like never before.

Enhancing the Shelf Edge Through Collaboration

By integrating Focal Systems’ AI-powered shelf vision cameras with Pricer’s leading electronic shelf label (ESL) platform, retailers will benefit from:

Real-Time Shelf Insights: Automated detection and alerting of out-of-stock or low items powering rapid replenishment and increased shopper satisfactionDynamic Task Automation: Streamlined workflows and prioritized tasks to improve operational efficiency for store staff.Patented Innovation: Camera-based out of stock detection and communication, flashing ESLs, alternate location communication.Seamless Integration: Standardized API connections that deliver out-of-the-box value, offering synchronized ESL flashes, messaging updates, and shelf-edge intelligence.

Together, Pricer and Focal Systems demonstrate that the combined offerings deliver measurable value for the retailers by enabling a fully digitalized shelf-edge ecosystem.

Strategic Collaboration for the Future of Retail

“We are proud to combine our leadership in ESL technology with Focal Systems’ AI-powered shelf vision,” said Chris Chalkitis, CDO at Pricer. “Both companies share a belief in the digitalization of the physical store. Pricer has been a pioneer in dynamic pricing and shelf-edge communication. With Focal Systems, we take the next step, digitizing what’s on the shelf – and what’s not – to drive greater efficiency and performance for retailers.”

Focal Systems’ AI technology transforms retail operations through real-time shelf monitoring and replenishment task optimization.

“Partnering with Pricer, a global leader with groundbreaking ESL technology and innovation, creates tremendous value for retailers,” said Kevin H. Johnson, CEO at Focal Systems. “Together, we deliver an integrated, data-driven solution that reduces operational complexity, automates workflows, and enhances the in-store experience. We look forward to demonstrating this powerful collaboration to retailers and their customers.”

Showcasing the Future at NRF 2025

The collaboration will officially debut at the National Retail Federation (NRF) Big Show in January 2025, where Pricer and Focal Systems will showcase the integrated solution at Pricer’s booth. This marks the beginning of an exciting journey to redefine the shelf edge and set new standards for retail innovation.

For further information, please contact:
Chris Chalkitis, Chief Digital Officer, +46 70 4849812
Finn Wikander, Chief Product Officer, +46 705 233077
info@pricer.com

About Pricer

Pricer is a leading global provider of digital shelf-edge solutions, helping retailers optimize pricing, improve operational efficiency, and enhance the customer experience. With patented innovations like camera-based product identification by ESL, Pricer continues to set the standard for dynamic, intelligent shelf-edge solutions. For more information, visit www.pricer.com.

About Focal Systems

Focal Systems is a leading provider of AI-powered computer vision solutions, helping retailers automate operations and optimize product availability through real-time shelf monitoring. Its advanced technology delivers actionable insights that drive efficiency and profitability. For more information, visit www.focal.systems.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/pricer/r/pricer-and-focal-systems-announce-strategic-collaboration-to-drive-the-next-step-in-physical-store-d,c4090287

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Blue Owl Capital Expands Tennis Player Sponsorship to All Grand Slam Tournaments in 2025

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Blue Owl to place logo patches on dozens of athletes competing across the Australian Open,
French Open, Wimbledon, and US Open

Jordan Thompson named as Blue Owl’s dedicated athlete ambassador for the Australian Open

NEW YORK, Jan. 12, 2025 /PRNewswire/ — Blue Owl Capital Inc. (“Blue Owl”) (NYSE: OWL), a leading alternative asset manager, announced today a marquee sponsorship agreement to expand their presence at all Grand Slam tournaments in 2025 and become the exclusive financial services partner for professional tennis’ Player Patch Program.

Blue Owl’s logo will be featured on the shirt of select players competing across men’s singles, women’s singles, mixed doubles, men’s doubles and women’s doubles competitions at this year’s Australian Open, French Open, Wimbledon, and US Open tournaments. In addition to Blue Owl’s presence on the courts, the firm will be featured in iconic Melbourne transit hubs, social media and digital media during the Australian Open in an effort to raise brand awareness within the country and the broader APAC market.

Blue Owl Chief Marketing Officer Suzanne Escousse said, “Just as Blue Owl is redefining alternative investing, we are supporting established and emerging professional players who are redefining the game of tennis. Tennis is a truly worldwide sport requiring peak performance in critical, high-pressure moments. This is the same ethos that underpins Blue Owl and allows us to focus on delivering results for our international client base. Following the success of our involvement with the Patch Program at the 2024 US Open, and given Blue Owl’s established presence within the country, Australia is the perfect place to kick off our presence across Grand Slam tournaments.”

Blue Owl has also partnered with Australian tennis professional Jordan Thompson, who will serve as the firm’s Athlete Ambassador at the 2025 Australian Open – January 12-26 in Melbourne. Most recently, Thompson won the men’s doubles at the 2024 US Open, where he was wearing a Blue Owl patch, and was a men’s doubles finalist at Wimbledon in 2024. He has also registered victories over several top-10-ranked opponents in singles competitions and previously represented Australia at the Olympics and the Davis Cup. Thompson will be one of several competitors wearing Blue Owl’s logo throughout the tournament.

Jordan Thompson said: “Blue Owl is focused on delivering excellence for its clients, which makes it a great fit for a partnership with professional tennis players. Support from firms like Blue Owl is tremendously beneficial for players who are preparing for career-defining events, especially the four Grand Slams. Our shared core values, including striving for success in every step of our journeys, whether that be in the financial services industry or competing as a professional athlete, is a perfect match. Alongside my coaches, my doubles teammate(s) and tennis fans, Blue Owl will play a key role for me here in Melbourne at the 2025 Australian Open.”

About Blue Owl

Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives.

With $235 billion in assets under management as of September 30, 2024, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Estate. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.

Together with over 1,050 experienced professionals, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.

Media Contact

Nick Theccanat
Principal, Corporate Communications & Government Affairs
Nick.Theccanat@blueowl.com

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