Interaction Sensor Market Size Probable to Spread Approximately USD 44.75 Billion by 2023

Global Interaction Sensor Market Research Report, By Technology (Camera-Based, Voice Recognition), Industry Vertical (Consumer Electronics, Entertainment, Automotive,) Region (North America, Europe, Asia-Pacific, Rest of the World)- Forecast till 2023

Interaction Sensor Market - Synopsis

Global interaction sensor market is expected to grow from USD 11.66 billion in 2017 to USD 44.75 billion by 2023, at a compound annual growth rate (CAGR) of 25.13% during the forecast period. Increasing demand for interactive gaming is one of the major factors enhancing the growth of interaction sensors market. Previously, human interaction in games was restricted to pushbuttons on a controller. However, with emergence of advance technologies and use of various sensors such as interaction sensors, proximity sensors, touch sensors among others, the gaming space is no longer constrained, resulting in increased interaction between the user and the game. Additionally, interactive sensors offer real time experience, thereby allowing physical and active involvement of players in the game. Moreover, interaction sensors enable handling and managing wide range of devices such as personal navigation device, computers, laptops and mobile handsets through gestures or touch as input, delivering a high degree of convenience to the user. Additionally, increasing safety and security concerns in automotive industry is driving the growth of this market. Also, proliferation of interactive sensors along with motion sensors in autonomous vehicle, smart homes and interactive television is expected to have direct impact on the dynamics of the industry.

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Interactive sensors refer to a type of sensor that interacts with different devices through touched or through gestures. In gesture recognition technology, the interactive sensors enable interaction between human and devices without requiring physical, touch, or contact based input mechanisms. Interactive sensor receives wireless sensor data, recognize and translate it into commands. Continuous innovations in manufacturing and adoption of advance technologies have allowed many sensing technologies to find application in consumer products. Additionally, factors such as small size and lower power consumption gives a competitive edge to industry players such as Google Inc., Analog Devices, Inc., Omron Corporation, TDK Corporation among others, operating in the intense competitive environment.

Interaction Sensor Market - Key players

The prominent players in the interaction sensor market are Google Inc. (US), Analog Devices, Inc. (US), Omron Corporation (Japan), NXP Semiconductors N.V. (Netherlands), Infineon Technologies (US), ABB Ltd. (Switzerland), Texas Instruments Inc. (US), TDK Corporation (US), STMicroelectronics N.V. (Switzerland), Robert Bosch GmbH (Germany), Atmel Corporation (US) among others.

Interaction Sensor Market - Segmentation

Interaction sensor market is segmented on the basis of technology and industry vertical and region.

Based on the technology, the market is segmented into RFID, camera-based, voice recognition and others.

On the basis of industry vertical, the market is segmented into consumer electronics, entertainment, healthcare, automotive, aerospace & defense and others.

By region, the market is segmented into North America, Europe, Asia-Pacific and the rest of the world.

Interaction Sensor Market - Regional analysis

The global market for interaction sensor is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of interaction sensor market is done for North America, Europe, Asia-Pacific, and the rest of the world.

North America is expontionally expanding at high growth rate owing to its continuous focus on adopting advance technologies. Also, growing security concerns for both physical and cyber access is enhancing the growth of this market. Asia-Pacific is expected to be the fastest growing region during the forecast period owing to increasing domestic automotive demand in the emerging markets of countries such as India and China, thereby increasing the demand for interaction sensor market.

Interaction Sensor Market - Competitive Analysis

The interaction sensor market is gaining momentum owing to rapid adoption of advance technologies such as IoT across the world. Most of the key players are continuously focusing on innovation in production technologies to improve efficiency and shelf life. Also, the companies are focusing on ongoing process improvements and financial flexibility to invest in the optimal strategies to gain long term growth opportunities. Moreover, companies are adopting inorganic startegies such as partnership & collaboration and merger & acquisition to expand their geographic presence and customer base.

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Interaction Sensor Market - Intended Audience

Original equipment manufacturers (OEMs) of interaction sensors

Original design manufacturers (ODMs)

Installers and maintenance service providers

Integrated device manufacturers

Consumer electronics manufacturers

Research organizations and consulting companies

Subcomponent manufacturers

Technology providers

Electronic hardware equipment manufacturers

Technology standards organizations, forums, alliances, and associations

Universities and research organizations

Government bodies

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Published in M2 PressWIRE on Wednesday, 02 January 2019
Copyright (C) 2019, M2 Communications Ltd.


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