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Global Smartphone Sensors Market to Garner USD 309.7 BN by 2032, with 17.8% CAGR from 2023 to 2032

Sep 30, 2023 2:00 AM ET

Global Smartphone Sensors Market to Garner USD 309.7 BN by 2032, with 17.8% CAGR from 2023 to 2032

Smartphone Sensors Market Insights

The global smartphone sensors market is likely to garner significant traction. The proliferation of smartphones worldwide would drive the market growth. Market Research Future (MRFR) asserts that the smartphone sensors market value will escalate from USD 70.9 BN in 2022 to USD 309.7 BN by 2032, growing at a 17.8% CAGR throughout the assessment period (2023-2032). 

Improvements in 5G/4G/LTE technologies and connectivity drive the market growth, powering new applications. Besides, vast advances in wireless technologies suitable for personal health assistants and wearables would boost the smartphone sensors market size.

Increasing adoption of wireless technologies for low-end, mid-level, and high-end applications and rapid advances & increasing use of wearables & other intelligent sensing devices are major smartphone sensors market trends. Moreover, rising uses of wireless technologies for energy & environment monitoring applications influence the market revenues. 

Conversely, several security concerns coming along with innovative smartphone applications hamper the smartphone sensors market growth. Nevertheless, the emergence of 5G networks, vast digital transformation & automation across industries, and the proliferation of Industry 4.0 would support the market growth throughout the assessment period. 

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Major Players

Leading smartphone sensors market players are

  • Broadcom Inc. (US),
  • MS AG (Austria),
  • DYNA IMAGE Corporation (China),
  • NEXT Biometrics Group ASA (Norway),
  • Murata Electronics Oy (Finland),
  • Omron Corporation (Japan),
  • Sony Corporation (Japan), and
  • Samsung Electronics Co., Ltd. (South Korea), among others. 

Smartphone Sensors Market – Segmentation

The market analysis is segmented into smartphone types, prices, manufacturers, applications, and regions. The type segment is sub-segmented into standard & rugged smartphones, smartwatches, and other wearables. The price segment is bifurcated as under USD 100, USD 100 to USD 300, USD 300 to USD 500, and above USD 500.

The manufacturer segment is bifurcated as Apple Inc., Samsung Electronics, Xiaomi Inc., Huawei Technology, Oppo, HMD, Sony Corporation, and others. Further, the application segment is bifurcated into low-end, mid-level, high-end, and smartphones. By region, the smartphone sensors market is segmented into the Americas, Europe, Asia-Pacific, and the rest of the world. 

Smartphone Sensors Market – Geographical Analysis

The Asia-Pacific region accounts for the largest smartphone sensors market share. The strong presence of major technology providers, the well-established semiconductor industry, and the raw material & component advantage contribute to the region’s smartphone sensors market share. Moreover, substantial growth in the smartphone industry is a major driving force behind the growing landscape of the market.

The increasing number of users of smartphones, smartwatches, and wearables provides significant market opportunities for the smartphone sensors market growth. Besides, the spurring rise in consumer electronics and electronic devices and the growing demand for smartphone sensors from the gaming, medical device, and automobile electronics industries create substantial market demand. 

Smartphone Sensors Market – Competitive Landscape

Highly competitive, the smartphone sensors market appears fragmented with several well-established players. These players increasingly focus on product development and incorporate strategic approaches, such as collaboration, mergers & acquisitions, expansions, and product launches, to gain a larger competitive share.

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Industry/ Innovation/ Related News

Sept. 12, 2023 — Elliptic Labs (ELABS), a leading global AI software company and AI Virtual Smart Sensors provider, announced securing a new expansion agreement with an existing smartphone customer. Under the new contract, ELABS will supply its AI virtual proximity sensor, named INNER BEAUTY, for these customer’s future smartphone releases. 

The company will continue introducing new products offering smartphone OEMs unparalleled power, value, and scalability by combining AI/machine learning, ultrasound, and sensor fusion. This contract demonstrates that ELABS’ AI virtual smart sensors make smartphones greener, smarter, and more user-friendly.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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