Sensor Hub Market Share, Demand, Growth, Key Opportunities, Key Players and Industry Analysis By 2023
February 25, 2020 by Market-NewsFlash
Sensor hub is a microcontroller unit that uses various sensors to provide information. It can be a system-on-chip with ability to provide information as a wearable device. The sensor hub industry finds prolific use in the smartphone sector as the latter uses several types like gyro sensors, proximity sensors, temperature sensor, hall sensors, magnetic sensors, and others. Advanced algorithms are used for message updates. The global sensor hub market is getting driven by such applications in diverse sectors owing to which scaling of USD 33.77 billion with a CAGR of 20.9% during the forecast period (2017–2023) seems to be achievable.
The sensor hub industry is getting traction from several sectors such as electronics and smart technologies. In healthcare, its percolation is mostly due to wearable technologies. Advanced technologies have made it easy to monitor patients which is subsequently providing traction to sensor hub market. Its projected leap from USD 9.87 billion in 2016 is indicative of its growing popularity.
The global sensor hub market has been segmented on the basis of type, processor type, device, application, and end-user.
Based on the types, the sensor hub market constitutes gyro sensors, hall sensors, proximity sensors, temperature sensor, magnetic sensors, and others.
Based on the processor type, the sensor hub market can be segmented into programmable & fixed logic, application sensor processor, sensor integrated microcontroller, discrete sensor processor, and others.
Based on the devices, the sensor hub market comprises smartphones, tablets, wearable devices, IoT & connected devices, and others.
Based on the applications, the sensor hub market can be segmented into positioning & navigation, health & fitness, augmented reality & gaming, activity monitoring, voice command, gestures navigations, and others.
By end-users, the sensor hub market can be segmented into consumer electronics, commercial, healthcare, media & entertainment, educations, automotive, government & defense, telecommunications, and others. The consumer electronics segment is expecting substantial growth during the forecast period.
MRFR in their sensor hub market analysis included Asia Pacific (APAC), North America, Europe, and Rest-of-the-World (RoW). This regional analysis is targeting mostly the growth pockets that it can reveal to make a comprehensive understanding of the market much easier.
The market in North America is leading and is making substantial changes to the product accordingly. The region is the global hub for all kinds of technology both in terms of implementation and integration. Several market giants are from the region owing to which the market is bound to gain substantially from their expenditure during the forecast period.
Europe’s market is also showing a similar surge in the sector owing to the presence of several economically advanced countries. These countries are Germany, France, the U.K., Spain, and others. Their presence, along with several upgrades in software, and major companies like Bosch Sensortec (Germany) are expected to drive the market.
In the APAC, the market is getting much traction from countries such as India, Japan, China, South Korea, Taiwan, and others. Several technologies such as navigation-satellite-system-integrated sensor hub from Broadcom in its Note 4 and S6 smartphones are fast becoming examples of growth that the region is expecting.
More Information@ https://www.marketresearchfuture.com/reports/sensor-hub-market-3221
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