Rise in adoption in military surveillance, intelligence ordinance, and combat system and advancements in earth mapping and observation technologies have boosted the growth of the global active sensor market. Based on region, the market across North America accounted for the highest share in 2021, contributing to nearly one-third of the total market share.
Portland, OR, Aug. 15, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global active sensor market generated $18.8 billion in 2021, and is estimated to reach $50.7 billion by 2031, witnessing a CAGR of 10.6% from 2022 to 2031. The report offers a comprehensive study of dynamic market trends, key investment pockets, top segments, regional landscape, value chain, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report Coverage and Details:
Market Size in 2021
Market Size in 2031
No. of Pages in Report
Sensor, End Use Verticals, and Region.
Increase in adoption of military surveillance, intelligence ordinance, and combat systems
Advancements in earth mapping and observation technologies
Use of active sensor type in several applications such as scanning electron microscopes, radar, LiDAR, GPS, X-ray, sonar, infrared, and seismic
High product cost due to the use of multiple sensors in single unit and complexities associated with the same
High initial cost and maintenance costs
The Covid-19 pandemic hampered the growth of the market due to lack of skilled workforce availability, partial or complete lockdown, and delay or cancelation of projects.
Lack of business continuity, financial disruptions, and gap in demand and supply are some of the major factors that hampered the market growth during the pandemic. Moreover, these factors negatively impacted on revenue and shareholder returns.
Most of the electronic parts such as sensors integrated circuits are imported from China. Since the Covid-19 outbreak, the prices of semiconductor components increased by 2–3% due to temporary stoppage of manufacturing facilities.
The report offers detailed segmentation of the global active sensor market based on sensor, end use verticals, and region. The report provides analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on sensor, the radar segment accounted for the highest share in 2021, contributing to more than half of the total share, and is expected to maintain its leadership status during the forecast period. However, the LiDAR segment is expected to manifest the highest CAGR of 12.44% from 2022 to 2031.
Based on end use verticals, the automotive segment held the largest share in 2021, accounting for around one-fifth of the market, and is expected to maintain its dominance in terms of revenue by 2031. Furthermore, the segment is estimated to witness the largest CAGR of 12.49% during the forecast period.
Based on region, the market across North America accounted for the highest share in 2021, contributing to nearly one-third of the total market share. However, the market across Asia-Pacific is projected to dominate in terms revenue by 2031. Moreover, the region is anticipated to portray the fastest CAGR of 11.45% during the forecast period. The research also analyzes regions including North America and LAMEA.
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Leading players of the global active sensor market analyzed in the research include Emerson Electric Co., Baumer Group, Honeywell International Inc., General Electric Company, KEYENCE Corporation, Infineon Technologies AG, Murata Manufacturing Co., Microchip Technology Inc., NXP Semiconductors., Northrop Grumman LITEF GmbH, Robert Bosch GmbH, OMRON Corporation, SIEMENS AG, ROHM Co. LTD., Taiwan Semiconductor Manufacturing Company Limited, STMicroelectronics, TDK Corporation, and TE Connectivity are provided in this report.
The report analyzes these key players of the global active sensor market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Key Benefits For Stakeholders:
This study comprises analytical depiction of the active sensor market size along with trends and future estimations to depict the imminent investment pockets.
The overall active sensor market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and active sensor market opportunity
The current active sensor market forecast is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the active sensor market overview.
The report includes the active sensor market share of key vendors and active sensor market trends.
Active Sensor Market Key Segments:
By End Use Verticals:
Aerospace and Defence
Earth Observation and Mapping
Rest of Europe
Rest of Asia-Pacific
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