Pune, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Market Size and Growth Outlook:
“The Smartphone Sensors Market Size was valued at USD 83.59 billion in 2023 and is expected to reach USD 367.94 billion by 2032 and grow at a CAGR of 17.9% over the forecast period 2024-2032 - As Per the Research by SNS Insider”
Phone sensors are boosting the AI-based agricultural revolution.
The rapid adoption of AI technology in US farming is driving up demand for advanced smartphone sensors. Farmers depend on sensors for important activities such as monitoring crop health, detecting pests, enhancing irrigation, and predicting yields. The growth potential for the smartphone sensor industry is substantial due to the increasing use of AI in agriculture and the rising global demand for food. The possible impacts of AI on American farms may have far-reaching implications for worldwide agriculture, as climate change poses significant risks to crop production.
The growth of smartphone sensor market is propelled by cybersecurity.
The rise of IoT devices, particularly in mobile technology and automotive sectors, has led to significant expansion in the smartphone sensor market. The rise in Internet of Things has led to a higher demand for advanced sensors like biometric, environmental, and motion sensors, essential for the operation and safety of connected devices. The growing emphasis on cybersecurity and consumer protection measures, such as the U.S. Cyber Trust Mark Labeling Program and the EU's Cyber Resilience Act, is also driving this growth. While encountering challenges with compliance, these rules provide smartphone manufacturers the opportunity to differentiate their products by enhancing security elements. The smartphone sensor market will see growth and innovation as market demands meet regulatory advancements, enhancing its role in the IoT ecosystem.
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Key Market Players Covered in this Research Report are:
- Epson Europe Electronics
- DYNA IMAGE Corporation
- NEXT Biometrics
- Samsung Electronics
- Panasonic Corporation
- Everlight Electronics
- Maxim Integrated
- Omron Corporation
- Sony Corporation
- STMicroelectronics
Smartphone Sensors Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 83.59 Billion |
| Market Size by 2032 | USD 367.94 Billion |
| CAGR | CAGR of 17.9% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Growth Drivers |
|
The Important Role of Image Sensors and High-End Smartphone Technologies in Influencing the 2023 Smartphone Sensor Market
In 2023, image sensors dominated the smartphone sensor market, taking a significant 29% share, increasing consumer desire for better photo and video features on smartphones, driven by social media and user-created content, has resulted in the image sensors becoming the dominant product in the market. CMOS sensors have become the top choice for smartphone manufacturers due to their excellent performance and affordability. These sensors provide major enhancements in image quality, low-light photography, and energy efficiency. The smartphone sensor market has grown due to the adaptability and significant input of top players such as Sony, Samsung, and Omni Vision.
Based on Application, the High-End Dominate the smart phone sensor market with 42% of share in 2023. These devices come with advanced sensors such as magnetometers, 3D sensing, EIS, and OIS, providing improved features and user experience. Both Apple and Samsung have led the way in incorporating these sensors into their high-end smartphones, with Apple's True Depth camera system allowing for features like Face ID and AR, while Samsung's devices use EIS and OIS for better image stabilization. Sony and STMicroelectronics are also important suppliers providing crucial components for these advanced smartphones. The incorporation of these advanced sensors has played a key role in pushing the development of smartphone technology and has produced substantial profits.
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Key Market Segmentation
By Product Type
- Magnetometer
- Biometric Sensors
- Gyroscope
- Image Sensors
- Accelerometer
- GPS Ambient Light Sensor
By Structure Type
- Standard Smartphones
- Smart watches
- Rugged Smartphones
- Other Wearables
By Application
- High-end
- Mid-range
- Low-end
Market dominance in North America versus rapid growth in the smartphone sensor industry in Asia-Pacific.
In 2023, North America dominated the smartphone sensor market with a 34% market share, driven by its cutting-edge technology and robust demand for premium smartphones. Major companies in the area, such as Apple and Qualcomm, are catalysts for advancing technology and expanding the market.
The Asia-Pacific region, capturing 29% of the market, is the second most rapidly expanding area due to strong manufacturing abilities and technological progress in nations such as China, South Korea, and India. The strong market presence in the area is due to its large number of consumers and increasing disposable incomes.
The latest developments in smartphone sensor technology consist of:
- On February 26, 2024, Sony released the Alpha 9 III with a global shutter system for fast and clear imaging.
- On January 17, 2023, Samsung unveiled a 200-megapixel camera sensor, improving picture quality for top-of-the-line smartphones.
- In June 2024, Qualcomm revealed the Snapdragon 8 Gen 3 chip, incorporating sophisticated camera sensors and capabilities for machine learning.
- April 18, 2024: STMicroelectronics broadened its range of edge-AI sensors by introducing an inertial module designed to enhance movement analysis.
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Key Points in the smartphone sensor industry will experience advantages from:
- Increased use of advanced sensors will be fueled by the growing adoption of technology in agriculture and IoT.
- New possibilities for innovation are created by new technologies and improvements in regulations.
- Businesses that invest in advanced sensor technologies will have a competitive edge and secure a portion of the market.
TABLE OF CONTENTS – Key Points Analysis
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Sensor Production Volumes, by Region (2023)
5.2 Chip Design Trends (Historic and Future)
5.3 Fab Capacity Utilization (2023)
5.4 Supply Chain Metrics
5.5 Innovation and R&D
6. Competitive Landscape
7. Smartphone Sensors Market Segmentation, by Product
8. Smartphone Sensors Market Segmentation, by Smartphone Type
9. Smartphone Sensors Market Segmentation, by Application
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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