75% of the growth will originate from APAC for the sensors market for smartphones market. China, South Korea (Republic of Korea), Japan, and Taiwan are the key markets for sensors market for smartphones in APAC. Market growth in this region will be slower than the growth of the market in North America. The presence of major smartphone OEMs like Huawei Technologies, Lenovo Group, HTC Corp. (HTC), Guangdong OPPO Mobile Telecommunications, SAMSUNG ELECTRONICS, Xiaomi, and ZTE Corp. (ZTE) will facilitate the sensors market growth for smartphones in APAC over the forecast period. The sensors market for smartphones market is set to grow by USD 634.54 million from 2020 to 2025. However, the growth momentum is likely to decelerate at a CAGR of 2.29% as per the latest market report by Technavio.
The sensors market for smartphones market covers the following areas:
- Sensors Market For Smartphones Market Sizing
- Sensors Market For Smartphones Market Forecast
- Sensors Market For Smartphones Market Analysis
Sensors market for smartphones market – Driver
The increasing implementation of mobile AR applications by enterprises is one of the key factors driving the sensors market for smartphones market. The marketing and advertising sector is one of the earliest adopters of augmented reality (AR) and is also one of the largest markets for mobile AR. Several companies, such as Fitbit and Inter IKEA Systems BV, are using AR-based mobile advertising to engage with target audiences. The increasing use of AR technology by enterprises in the marketing and advertising sector has led to the integration of depth-sensing 3D cameras and sensors in smartphones by OEMs. Google and Apple are introducing AR apps for mobile devices.
Sensors market for smartphones market – Challenge
The major challenge faced by the global sensors market for smartphones is the limitation associated with the board size. Smartphone vendors in the market are integrating several sensors into their smartphones to provide additional features such as fingerprint sensing and facial recognition. However, the use of a discrete or standalone sensor will require more board space, which will be detrimental to the miniaturization of devices. Manufacturers of sensors need to reduce the IC size and maintain the manufacturing costs, which is a challenge for them. Therefore, the manufacturers of sensors have to design a high-performance sensor chip with a reduced size by optimizing the cost of manufacturing.
Sensors market for smartphones market – Segmentation
The sensors market for smartphones market analysis includes segmentation by price (premium range, medium-range, and low range) and geography (APAC, North America, Europe, South America, and MEA).
Technavio report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
Companies Mentioned
The sensors market for smartphones market is fragmented and the vendors are deploying growth strategies such as product differentiation to compete in the market.
- Alps Alpine Co. Ltd.
- ams AG
- Fujitsu Ltd.
- Murata Manufacturing Co. Ltd.
- OmniVision Technologies Inc.
- Panasonic Corp.
- Qualcomm Inc.
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
- STMicroelectronics NV.
- List.