Market Research Future (MRFR) projects the sensor hub market 2020 to advance to a size of USD 33.77 Billion by 2023. It is also expected that the market can progress at a rate of 20.9% between 2017 and 2023, which is the appraisal period. We will provide covid-19 impact analysis with the report, offering an in-depth review following the coronavirus disease outbreak.
COVID-19 Impact Analysis
Since the SARS-CoV-2 outbreak, multiple companies have had to encounter tough decisions, with respect to financial decisions as well as cost-cutting measures that can ensure continuous flow of operations. The lockdown situation has been the short term impact of the novel coronavirus, which has led to a weaker demand from the hyperscale cloud service and smartphone providers. The plummeting demand has had a domino effect in the semiconductor industry, with the falling prices and vendors pulling back their current fab plans. COVID-19 outbreak has also led to shutting down of operations, e-commerce and retail stores, resulting in supply chains collapsing and creating a bigger gap between the demand and supply ratio.
Keeping in mind the long-term impact of COVID-19, governments across the globe are doing everything they can by coming up with favorable initiatives and policies such as exceptions in tax, financial packages as well as lower interest rate. The work from home strategies, which are the prevalent norm among companies at present and the emerging trend of the BYOD policies, can also induce demand for connected devices, computers, laptops, and various storage solutions in the post pandemic era. While the countries are rushing to achieve a COVID-19 breakthrough, the demand for sensor hub is expected to surge rapidly in the following period.
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The sensor hub industry has been considered for types, processor type, devices, applications and end-users.
The types of sensor hub available in the global market include gyro sensors, hall sensors, proximity sensors, temperature sensor, magnetic sensors and more.
The processors type-based categories are programmable and fixed logic, application sensor processor, sensor integrated microcontroller, discrete sensor processor and others.
Devices that are embedded with sensor hub are wearable devices, tablets, IoT and connected devices as well as smart phones.
Application areas of sensor hub are positioning and navigation, health and fitness, augmented reality and gaming, activity monitoring, voice command, gestures navigations and more.
The prime end-users in the target industry include automotive, healthcare, telecommunication education, government & defense, media and entertainment, consumer electronics, commercial, and others.
Leading competitors in the market include Rohm Co. Ltd. (Japan), Invensense Inc. (U.S), Analog Devices, Inc. (U.S), Texas Instruments Inc. (U.S), Broadcom Limited (U.S), Memsic, Inc. (US), Microchip Technology Inc. (US), Robert Bosch GmbH (Germany), Qualcomm Technologies (U.S), STMicroelectronics N.V. (Switzerland), NXP Semiconductors N.V (Netherland), Intel Corporation (U.S), Infineon Technologies AG (Germany), to name a few.
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