LONDON--(BUSINESS WIRE)--Technavio’s latest hardware and semiconductor industry report covers the present scenario and growth prospects of the global CP sensor for consumer applications market 2016-2020.
In this report, Technavio’s research experts announce their key market highlights for the global capacitive pressure (CP) sensor for consumer applications market. Their findings include:
Global CP sensor for consumer applications market grew by 11.11% year-over-year in 2015
CP sensors are an integral part of consumer electronics, essentially in multiple applications such as touchscreens, and, thus, play a crucial role in the manufacturing of consumer electronics. Technavio estimates that the CP sensor for consumer applications market will reach USD 772 million by 2020, growing at a striking CAGR of close to 21% during the forecast period.
“Capacitive pressure sensors offer better accuracy and sensitivity than resistive sensing technology, and are devoid of wear and tear problem. Due to these advantages, they are replacing resistive sensors in many applications,” says Asif Gani, a lead analyst at Technavio for sensors research.
Growing adoption of smartphones and tablets is considered as one of the major drivers for the market. Capacitive pressure sensors for smartphones and tablets have a huge demand as these sensors almost eliminate the problem of wear and tear in devices compared to mechanical input devices. Laptops, cameras, and wearables that include smartwatches and fitness bands are using these sensors. Demand for capacitive sensors will rise significantly in line with the growing consumer electronics industry during the forecast period.
Shipments of smartphones have grown substantially during 2009-2014. Unit shipments increased from 174 million in 2009 to 1.3 billion in 2014. Samsung, a major smartphone manufacturer, shipped close to 307 million units in 2014. The company employs capacitive touch sensors in touch screens, and as input mechanism in their devices.
APAC: largest market for global CP sensor in terms of revenue
The CP sensor for consumer applications market in APAC was valued at USD 121.7 million in 2015. Technavio foresees the market to reach USD 326.2 million by 2020, growing at a CAGR of almost 22% during the forecast period. The region is expected to continue its dominance over the forecast period due to rising production of consumer electronics in countries such as Japan, South Korea, and China.
The market growth is also attributed to high level of industrialization in these countries due to lower cost of operations by virtue of cheap labor and raw materials, availability of cheap land for initiating foundries and manufacturing units, and presence of growing middle class, especially in China. “Some of the emerging economies are present in the APAC region as well. Therefore, we anticipate a substantial number of buyers for consumer electronic products to come from these regions,” adds Asif.
Smartphone segment: biggest end-user of CP sensors, accounting for almost 75% of the global market
The smartphone segment is the largest segment of the global CP sensor for consumer applications market. Reduction in sizes and better performance due to advanced manufacturing methods, such as micromachining, has helped in the rapid adoption of pressure sensors in smartphones, despite continuous upgrade of these devices. Performance of the touch, camera, and proximity sensors in a smartphone depends on the effectiveness of inbuilt capacitive sensors. In addition, ever-increasing sales of the devices indicate that the smartphone segment would continue to be the largest segment throughout the forecast period.
However, with increasing proliferation of wearables and emergence of technologies such as gesture control, the smartphone market is estimated to take a hit in its growth momentum after 2018, as by then, wearables will make a big part of CP sensor revenue, and gesture sensing technology will also improve its market presence.
Browse Related Reports:
- Global Capacitive Touchscreen Market 2015-2019
- Global Retail Touch Screen Display Market 2015-2019
- Global MEMS Pressure Sensors Market 2015-2019
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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