January 22, 2020 by Market-NewsFlash
Market Research Future (MRFR), in their latest report on the global sensor hub market, revealed that the market could achieve 20.9% CAGR during the forecast period during the forecast period (2017–2023) and exceed a valuation of USD 33.77 billion by 2023. The sensor hub provides information using different sensors. The market is evolving in sync with developing technologies. There are a number of factors contributing in the growth of the sensor hub market, such as power management, consumer demand, cost of components, “always on sensing”, algorithm & contextual awareness, connectivity, and others. Its application is widespread, from smart wearables to smartphone processors that in sync with the camera’s sensors reduces the power consumption. Smart watches are also including the technology to provide different services. In such devices, services such as position, direction, altitude, proximity, and touch-sensing capabilities are results of the sensor hub technology.
MRFR takes a route of segmenting the sensor hub market for a better analysis of the market. Their segmentation includes types, processor type, devices, application, and end-users.
Based on the type, the global sensor hub market can be segmented into gyro sensors, hall sensors, proximity sensors, temperature sensors, magnetic sensors, and others.
Based on the processor, the global sensor hub market can be segmented into programmable and fixed logic application sensor processor, sensor integrated microcontroller, discrete sensor processor, and others. The fixed logic application sensor processor segment is getting substantial traction and its prospects are quite promising for coming years.
Based on devices, the sensor hub market can be segmented into smartphones, tablets, wearable devices, IoT and connected devices, and others. The smartphone segment is expected to grow substantially with latest innovations.
Region-specific study of the sensor hub market, as conducted by MRFR, includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
Technological superiority is giving edge to North America and Europe. At the same time, robust infrastructure is backing up the market substantially. In Europe, the U.K. is leading the market with integration of the system in several industries. The regional market is benefitting much from the presence of several market players. In North America, the market is growing with the participation of major companies such as Apple, Samsung, and Motorola.
The APAC market is growing rapidly with countries like China, Japan, and India contributing the most. Growing digitalization and inclusion of the system in other technological sectors are expected to help in the expansion of the global market.
More Information@ https://www.marketresearchfuture.com/reports/sensor-hub-market-3221
Companies impacting the global sensor hub market are STMicroelectronics N.V. (Switzerland), Texas Instruments Inc. (U.S.), Invensense, Inc. (U.S.), NXP Semiconductors N.V (Netherland), Intel Corporation (U.S), Memsic, Inc. (US), Rohm Co. Ltd. (Japan), Robert Bosch GmbH (Germany), Infineon Technologies AG (Germany), Analog Devices, Inc. (U.S.), Broadcom Limited (U.S.), Qualcomm Technologies (U.S), and Microchip Technology Inc. (U.S.), among others. These companies are implementing strategic moves that benefit them not just in their individual growth but taking the market forward as well.
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