Market Research Future published a research report on “Interaction Sensor Market Research Report – Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The interaction sensor market 2020 held the value of USD 11.66 billion in 2017 and is expected to gain considerable valuation of USD 44.75 billion by 2023, reveals Market Research Future (MRFR). MRFR also anticipates the market growth to be at a tremendous rate of 25.13% from 2018 to 2023 (assessment period). We will provide COVID-19 impact analysis with the report, offering an in-depth review of the Interaction Sensor Market following the coronavirus disease outbreak.
The health-care professionals, industries and governments are grappling with the after effect of the COVID-19 outbreak, for which they are deploying various types of sensors, predictive analysis, artificial intelligence and big data in every way possible to minimize the risk on the public health as well as the worldwide economy. Experts understand the potential of sensors in supporting medical government and professionals in response to SARS-CoV-2.
The closure of gyms, restaurants, schools, theaters, and various public venues has brought a decline in social interactions, leading to a massive curb on people’s mobility to reduce the spread of novel coronavirus. Therefore, the use of interaction sensors has boosted in recent months, with the rising consumption of devices like computers, laptops, mobiles and personal navigation device. Speaking of favorable aspects, companies across industries are rushing to find a COVID-19 breakthrough, for which semiconductor firms are lending helping hands with the adoption of strategies like product innovation and launches. For instance, in June 2020, BlueSemi R&D Pvt. Ltd. (Hyderabad, India) has built the first wireless, contactless scanner integrated with Neem, a thermal sensor. The sensor helps with fast detection and recording of the person’s exact temperature, with no manual contact.
Interaction sensor industry has been segregated with respect to technology as well as the industry vertical.
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Market Segmentation technologies covered in the market study are voice recognition, camera-based, RFID, and more.
The various industry verticals that deploy interaction sensors are aerospace & defense, entertainment, consumer electronics, automotive, healthcare, among others.
The interaction sensor market size along with the current trends and growth prospects have been evaluated across the key regions of North America, Asia Pacific/APAC, Europe, and the rest of the world/ROW.
The interaction sensor market in North America has observed notable advancements in recent years. The region stands at the forefront when it comes to fast adoption of latest technologies, such as virtual reality (VR) and augmented reality (AR) in the entertainment and gaming industries. Other than this, promotional initiatives by the government to boost security operations and regulatory activities also encourage the growth of the interaction sensors market in the region.
The fastest growth rate can be gained by the APAC market as a result of the increasing consumption of Internet of Things and consumer electronics. The soaring demand for convenience and comfort in product usage also stokes the market growth in the region. India and China are some of the fastest-expanding economies, marked with a massive surge in disposable income and digitization across diverse industries, which works in favor of interaction sensor industry.
Notable contenders in the worldwide market for interaction sensor include Robert Bosch GmbH (Germany), Infineon Technologies (US), Texas Instruments Inc. (US), TDK Corporation (US), Atmel Corporation (US), Google Inc. (US), Analog Devices, Inc. (US), ABB Ltd. (Switzerland), NXP Semiconductors N.V. (Netherlands), STMicroelectronics N.V. (Switzerland), Omron Corporation (Japan), to mention a few.
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