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2020 India Sensors Market Forecast and Opportunities
August 5, 2015 | PRNewswireEstimated reading time: 1 minute
India sensors market is one of the fastest growing markets in Asia-Pacific. Rising security concerns and growing trend towards miniaturization are shifting the focus of consumers to smart devices, which make extensive use of various sensors, in particular, touch and image sensors. Increase in sales of consumer electronics and medical devices is also contributing to growth of sensors market in the country. Further, automation in manufacturing sector is being driven by growing need for energy efficiency and complying with related government regulations. As sensors help in reducing energy consumption and wastage, while also reducing maintenance costs, the manufacturers are increasingly installing sensors in their manufacturing units.
According to "India Sensors Market Forecast & Opportunities, 2020", the country's sensor market is projected to grow at a CAGR over 20% through 2020. Consumer electronics, automotive, industrial and healthcare sectors are the key application areas for sensors in the country. In addition, adoption of MEMS technology in sensors is growing across various new application segments. Growing trend of Internet-of-things (IOT), to connect physical objects wirelessly to internet, is also boosting use of sensors in physical objects. Growing use of combination inertial sensors in Heating, Ventilation and Air-Conditioning (HVAC) industry is also one of the major drivers for the sensors market in the country. In 2014, STMicroelectronics held the largest share in the country's sensors market. "India Sensors Market Forecast & Opportunities, 2020" discusses the following aspects of the sensor market in India:
- India Sensors Market Size, Share & Forecast
- Segmental Analysis - By Sensor Type, By Application
- Policy & Regulatory Landscape
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
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