Capacitive Sensor Market worth 59.83 Billion USD by 2023 | MarketsandMarkets
According to the new market research report "Capacitive Sensor Market by Sensor Type (Touch Sensor (Displays & Input Devices), Motion Sensor (Accelerometer, Gyroscope & Magnetometer), Position Sensor (Displacement & Proximity Sensor)), Industry, and Geography - Global Forecast to 2022", the capacitive sensor market is estimated to reach USD 31.79 Billion by 2022, at a CAGR of 5.4% during the forecast period. The capacitive sensor market size, in terms of volume, is estimated to register a shipment of 21.14 Billion units by 2022, at a CAGR of 9.3% during the forecast period.
Factors such as rising consumer electronics industry across the world, growing trend of miniaturization of sensors, and increasing use of scratch-resistant non-glass surfaces are driving the growth of capacitive sensor market. However, declining demand for all-in-one PCs and, short supply of indium tin oxide are some of the major challenges faced by the capacitive sensor market at large.
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Displacement sensors to grow at the highest rate during the forecast period among all position sensors
In the capacitive position sensor market, the highest growing sensor type is displacement sensor; the market for this type of sensor is expected to grow rapidly during the forecast period due to its increasing demand in industries, ranging from automotive to manufacturing to consumer electronics, healthcare, and others.
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The automotive industry is expected to grow at the highest CAGR between 2016 and 2022
The capacitive sensor market for the automotive industry is growing over the past decades; it is also expected to grow during the forecast period because the automotive industry has recently been experiencing rapid changes in manufacturing technology. There is great scope for capacitive sensors in manufacturing and supplying companies in all the nations since capacitive sensors are in high demand in all the manufacturing units of the automotive industry for almost all processing machines and other supporting functions.
The market in APAC expected to grow at the highest CAGR during forecast period
The capacitive sensor market in APAC held the largest share of the global market in 2015; it is expected to grow at the highest CAGR between 2016 and 2022. This growth can be attributed to the rising automotive sales, growing need for automatization in industries, increasing security concerns, and ongoing technological developments in consumer electronics in countries such as India, South Korea, and Japan in the APAC region.
Major players operating in the capacitive sensor market are Synaptics Inc. (U.S.), Microchip Technology, Inc. (U.S.), Cypress Semiconductor Corp. (U.S.), and STMicroelectronics N.V. (Switzerland) among others.
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