Global Smartphone Sensor Market Grows Steadily at a CAGR of 6.44%

Sensors are devices or equipment that detect various factors, like fingerprints, pressure, and temperature. Sensors play a crucial function in smartphones since they are increasingly being incorporated to collect more information and data related to the loaded applications. In addition, applications connected to photography and cameras require image sensors to perform the task, while smartphones require an accelerometer, gyroscope, and touch sensors to operate gaming applications. Market Dynamics Increasing Demand for Smartphones across the Globe Drives the Global Market Global smartphone shipments are anticipated to reach over 1.5 billion units by the end of 2023, according to a study. This expansion is expected to lead to a rise in the production of smartphone sensors over the forecast period. Changes in the environment and movement are detected by sensors and converted into electronic signals that can be processed by the phone. These sensors are susceptible to damage from strong magnetic fields, excessive humidity, and extreme temperatures. As a result, the demand for sensors has increased over the years and is anticipated to expand further over the projection period. Development of New Smartphone Applications Creates Tremendous Opportunities Smart devices enable designers and developers to incorporate sensors and processors into compact electrical devices. Sensors improve these gadgets' usefulness and the experience's quality by collecting and analyzing data. Increasing life expectancy, increased smartphone penetration, the development of embedded sensors, and the availability of current communication technology have permitted the continuous and remote monitoring of a person's health and well-being. This gives more potential for smartphone sensor makers to incorporate cutting-edge technology into their existing product lines and develop sophisticated sensors. The development of smartphone applications for remote monitoring and analysis is anticipated to generate profitable prospects for smartphone sensor market participants over the forecast period. Regional Analysis Asia-Pacific is the most significant global smartphone sensor market shareholder and is anticipated to grow at a CAGR of 7.75% during the forecast period. In recent years, the region has become a global focal point for significant investments and corporate expansions since it is a vital center for industrial manufacturing. Sony Corporation, Panasonic Corporation, Samsung, Murata Manufacturing Co., Ltd., and Huawei Technologies Co., Ltd. are some of the leading smartphone sensor manufacturers in the Asia-Pacific region. In addition, China is the dominant nation in the area. The nation is home to significant manufacturing enterprises such as Foxconn, which makes electronic components for corporations including Apple and Samsung. Due to their vast production capacities, manufacturers are focusing on increasing their presence in other countries, which is anticipated to impact China's smartphone sensor market and, in turn, lead to the expansion of the Asia-Pacific region over the forecast period. Europe is expected to grow at a CAGR of 5.84% over the forecast period. Young people's increased smartphone use has fueled the demand for smartphone sensors in the region. Moreover, the explosion of AI and VR technology in smartphones has facilitated the use of smartphone sensors in this region. In Europe, notable smartphone sensor manufacturers include NXP Semiconductors NV, Infineon Technologies AG, Bosch Sensortec, AMS AG, ARM Holdings plc, and ABB Ltd. Regional market expansion is aided by the existence of powerful nations such as the United Kingdom, Germany, France, and Italy. In addition, some companies in Germany have used industrial digital technology to improve their productivity and efficiency. This has pushed the local and regional smartphone sensor players to capture a large portion of the German market by producing devices that adhere to the country's government requirements. Established firms worldwide have access to several expansion prospects in France. Furthermore, the popularity of smartphone fingerprint sensors results from the widespread concern for the safety and security of citizens in the nation. Key Highlights The global smartphone sensor market was valued at USD 82,418 million in 2022. It is estimated to reach USD 144,533 million by 2031, growing at a CAGR of 6.44% during the forecast period (2023–2031). By smartphone type, the global smartphone sensor market is divided into standard smartphones, rugged smartphones, smartwatches, and other wearables. The standard smartphone segment owns the highest market share and is estimated to grow at a CAGR of 6.87% over the forecast period. By price, the global smartphone sensor market is divided into USD 300 to USD 500, USD 100 to USD 300, above USD 500, and under USD 100. The USD 300 to USD 500 segment is the highest contributor to the market and is expected to grow at a CAGR of 4.73% during the forecast period. By manufacturers, the global smartphone sensor market is divided into Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD, and others. The Apple Inc. segment owns the market and is anticipated to grow at a CAGR of 8.12% over the forecast period. By application, the global smartphone sensor market is divided into high-end, mid-level, and low-end. The high-end segment is the highest contributor to the market and is expected to grow at a CAGR of 5.96% during the forecast period. Asia-Pacific is the most significant global smartphone sensor market shareholder and is anticipated to grow at a CAGR of 7.75% during the forecast period. Competitive Players The key players in the global smartphone sensor market are AMS AG Broadcom Inc. DYNA IMAGE Corporation Epson Europe Electronics GmbH Epticore Microelectronics Co. Ltd. Everlight Electronics Co. Ltd. Maxim Integrated Melexis Murata Electronics Oy NEXT Biometrics Group ASA Omron Corporation Samsung Electronics Co. Ltd Sony Corporation Panasonic Corporation STMicroelectronics Vishay Intertechnology, Inc. Market News In October 2022, Samsung introduced the ISOCELL HPX as the latest in its steadily-growing portfolio of mobile image sensors with the current class-leading resolution of 200 megapixels (MP). In January 2023, Samsung Electronics introduced its new Neo QLED, MICRO LED, and Samsung OLED product lines, along with lifestyle products and accessories today, in advance of CES® This year's list comprises new, cutting-edge items emphasizing better connectivity and individualized user experiences. Global Smartphone Sensor Market: Segmentation By Smartphone Type Standard Smartphones Rugged Smartphones Smartwatches Other Wearables By Price USD 300 to USD 500 USD 100 to USD 300 Above USD 500 Under USD 100 By Manufacturers Apple Inc. Samsung Electronics Huawei Technology Xiaomi Inc. Oppo Sony Corporation HMD Others By Applications High-End Mid-Level Low-End By Regions North America Europe Asia-Pacific Rest of the World (RoW)