New York, US, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Capacitive Sensor Market information by Sensors, by end users – forecast to 2027” the Market was valued USD 27.03 billion in 2019 and is relied upon to develop at an accumulated yearly development rate (CAGR) of 5.2% from 2020 to 2027.
Capacitive Sensors Market Scope:
Rising Uses of Effective Capacitive Deionization for Tap Water Analysis Boost Market
The global Capacitive Sensor Market is proliferating, mainly due to the flourishing smartphone market. Besides, rising uses of effective capacitive deionization in tap water analysis for electrical impedance spectroscopy contribute to the market growth. Besides, the rising popularity of wearables and sales of consumer electronics are major factors driving the growth of the market. With extensive uses of capacitive sensors in automotive and aerospace & defense industries, the market is projected to witness significant traction in the next six years.
Dominant Key Players on Capacitive Sensor Market Covered Are:
Analog Devices, Inc.
Microchip Technology, Inc.
NXP Semiconductors N.V.
Infineon Technologies AG
Texas Instruments, Inc.
Cypress Semiconductor Corp.
Renesas Electronics Corp
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Proliferation of Biometric Technology Plays a Causal Role in Market Development
Despite In-display trend, capacitive sensors witness strong demand. The market for active capacitive fingerprint sensors remained strong despite the growing popularity of in-display fingerprint sensors in some recent smartphones. Moreover, updates in sensor designs to keep pace with the rate of innovation and deliver the same utility in a sleeker package boost the market size.
Capacitive sensors witness vast application areas, including automotive and aerospace & defense industries. Capacitive sensors are also largely used in advanced monitoring and safety systems, which creates substantial market demand. Rising adoption of capacitive sensors in advanced driver assistance systems (ADAS) to monitor proximity, acceleration, humidity, and position increases their demand in the automotive industry.
Limitations in Sensing Capabilities is a Major Headwind
Despite demonstrating promising prospects, the market still witnesses several challenges, such as limitations in sensing capabilities and the availability of low-cost counterfeit sensors. Also, declining interest for across-the-board PCs and a short stockpile of indium tin oxide are other significant factors challenging the growth of the capacitive sensor market.
In the future, capacitive sensors would be increasingly used for remote monitoring of health and environment. Rising uses of capacitive sensors in healthcare devices would support the market growth throughout the assessment period.
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Segmentation of Market Covered in the Research:
The capacitive sensor market forecast is segmented into types, end-users, and regions. The type segment is sub-segmented into proximity, acceleration, humidity, and position sensors. The end-user segment is sub-segmented into shopper gadgets, car, oil and gas, medical care, food and refreshments, aviation and guard, others. The region segment is sub-segmented into the Americas, Europe, APAC, and the Rest-of-the-World.
North America is projected to retain its dominance over the global capacitive sensor market throughout the assessment period. The region houses a huge number of well-established automobile manufacturers, increasing uses of cutting-edge capacitive sensor technology for gesture recognition and parking sensors to make phone calls to enhance consumers’ driving experience.
Besides, the largest market share attributes to the rising consumer demand for safety and development of smart cars, surging the adoption of capacitive sensors in North America. The soaring demand for smartphones and adoption of innovative technologies offer vast opportunities to market players in this region. Additionally, the rising application of these sensors in the healthcare industry also benefits the regional market to a great extent.
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COVID-19 Impact on the Global Capacitive Sensors Market
The COVID-19 outbreak has boosted the capacitive sensor industry. Momentum for biometric phones, PCs, payments remained robust despite COVID disruption. Besides, increasing transformations in the IT & telecom sectors, digital transformations across industries contributed to the market upend.
Capacitive sensors demonstrated how equipment manufacturers can make small design adjustments to improve the user experience in a meaningful way. Also, capacitive sensors offer a compelling blend of convenience and security, making them an appealing option over newer authentication technologies like in-display sensors and face and iris recognition.
The capacitive sensor market witnessed a constant uptick over the past few months. Industry players are also seen fostering R&D investments to advance sensor technologies. Besides, the proliferation of biometric technologies pushed the market growth further.
With the market penetration of capacitive fingerprint sensors, market sales are estimated to grow constantly during the next few years, remaining the most common biometric modality in smartphones.
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