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North America Sensor Market Overview:
The North America sensor market will demonstrate steady growth in the future, with the increasing integration of sensors in vehicles defining the growing market landscape. Market Research Future (MRFR) states that the North America sensor market is poised to reach a valuation of USD 23121 MN by 2030, registering a 6.51% CAGR during the assessment period (2021-2030).
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Top Key Players of the North America Sensor Market:
Leading players in the North America sensor market include,
Sensors have garnered massive prominence over the past couple of years due to their capabilities in self-testing, self-identification, self-validation, and self-adaptation. Increasing sensor applications in medical and biomedical devices and smart connected devices create tremendous growth opportunities.
Besides, the rising demand for sensors from industries such as automotive, electronics, defense, and healthcare boosts the market size. Additional advantages of sensors, such as high performance, high reliability, minimal requirement of interconnecting cables, compact size, and low power consumption, escalate the market value further.
Ongoing deployments of LTE and technological advancements in various fields substantiate market revenues, increasing the number of connected devices. Increasing usage of IoT-based solutions fosters the demand for intelligent sensors. Also, considerable investments in research and development activities aimed at designing intelligent sensors and increasing product development & launches substantiate the size of the North America sensor industry.
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North America Sensor Market – Segments
The report is segmented into sensor type, technology, connectivity, end-users, and countries. The sensor type segment is sub-segmented into flow sensors, image sensors, touch sensors, motion sensors, temperature sensors, pressure sensors, position sensors, light sensors, proximity sensors, optical sensors, and others.
The technology segment is sub-segmented into system on package, system on chip, hybrid technology, IC compatible 3D micro structuring, CMOS process, machine vision, and vision sensing. The connectivity segment is sub-segmented into wired and wireless. The end-user segment is sub-segmented into industrial, medical, automotive, consumer electronics, aerospace & defense, and others. By countries, the market is segmented into the US, Canada, and the rest of North America.
North America Sensor Market – Country-wise Analysis
The US leads the North American sensor market due to technological advancement and developed network architecture. Besides, the increasing number of smartphone users fuels the market revenues. Moreover, the rising demand for sensors from consumer electronics and automotive sectors and the penetration of autonomous devices foster the market’s growth. The US sensor market is expected to register a steady CAGR during the assessment period.
North America Sensor Market – Competitive Analysis
Highly competitive, the North American sensor market appears fragmented due to several well-established players forming a competitive landscape. To gain a larger competitive share in this market, industry players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansions, and product/ technology launches.
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Industry/ Innovation/ Related News
Oct. 01, 2023 — Smartmicro, a radar sensor pioneer, announced commencing operations of its subsidiary in North America, Smartmicro US. This strategic move aligns with Smartmicro’s ongoing commitment to extending its global presence and providing top-tier service to customers across North and South America. Based in Lake Mary, Florida, Smartmicro US will help American warehouse businesses streamline order processing, inventory, and shipment handling.
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