Human Sensor IC Market Size (2023 – 2030)

According to our research report, the global human sensor IC market was valued at $1.70 billion in 2022, and is projected to reach a market size of $3.24 billion by 2030. The market is projected to grow with a CAGR of 8.4% per annum during the period of analysis (2023 - 2030).

Industry Overview

Body sensors are tiny medical gadgets that are used to continuously measure temperature, pressure, and other important health indicators. These sensors have electrodes built in to detect such parameters. A person can prevent more health problems by taking preventive action and being under constant observation. The growth of this market is influenced by the widespread use of wearable medical devices, technical development, and a decline in the number of visits to the hospital or clinic. Large medical device manufacturers put a strong emphasis on ongoing product innovation, which raises consumer demand for these sensors.

The market will benefit from the widespread use of Micro-electro-mechanical Systems (MEMS) technology, which has led to the miniaturization of motion sensors. The necessity to identify and predict natural disasters like earthquakes, volcanic eruptions, and tsunamis has led to an increase in the use of MEMS-based motion sensors. For instance, the State of California has implemented an early warning system for earthquakes that employs motion sensors placed throughout the state to find earthquakes. Additionally, the growing use of motion sensors in step and distance counters for smartwatches, noise, vibration, and harshness indicators, has raised product demand.

Currently, in its infancy, the market is expected to substantially replace manually operated equipment during the ensuing years. For instance, gestures and movements without the actual use of gadgets are gradually replacing battery-operated remote controllers. In 2018, Intel Corporation created a sophisticated motion sensing technology that enables TVs to change channels and adjust the volume in response to human motions. Manufacturers have a strong incentive to stimulate the market for advanced generation CPUs and semiconductors.

Impact of Covid-19 on the Industry

COVID-19 has a major impact on consumers and the economy. To stop the COVID-19 spread, manufacturing hubs have temporarily operated at reduced efficiency. This has significantly impacted the market's supply chain by resulting in a lack of raw materials, intermediate components, and completed items. The interaction sensor sector is projected to have financial disruptions as a result of the severe negative effects that a lack of company continuity has had on shareholder returns and revenue.

In addition, a lot of electronic components are imported from China, including sensors, PCBs, LED chips and wafers, ICs, and other semiconductor devices. Due to a shortage of supplies brought on by the temporary shutdown of manufacturing facilities, semiconductor component prices have increased by 2-3%. Despite the downturn in the economy, demand for industry 4.0, the IIoT, and 5G has been increasing across several sectors, which is expected to open up prospects for the market for interaction sensors to expand once the epidemic has passed.

Market Drivers

Growth in the popularity of technology will drive the market growth

Throughout the forecast period, the market is anticipated to benefit from the rising popularity of gesture technology. High manufacturing costs, however, limit market expansion. Additionally, an increase in the demand for connected devices, an increase in disposable income, and the introduction of numerous goods by market participants are some other aspects that support market expansion.

Rising demand for interactive gaming technology will drive the market growth

The market for interaction sensors is expanding primarily due to the rising demand for interactive gaming. The growth of the interaction sensor market is also accelerated by the expansion of safety and security features in the vehicle sector. In addition, the market expansion is facilitated by sensor advances and their expanding use in smartphones and other electronic devices. Given these elements, it is predicted that the market for interaction sensors would expand exponentially in the coming years.

Market Restraints

Covid-19 hampered the supply chain all across the world

In addition, a lot of electronic components are imported from China, including sensors, PCBs, LED chips and wafers, ICs, and other semiconductor devices. Due to a shortage of supplies brought on by the temporary shutdown of manufacturing facilities, semiconductor component prices have increased by 2-3%. Despite the downturn in the economy, demand for industry 4.0, the IIoT, and 5G has been increasing across several sectors, which is expected to open up prospects for the market for interaction sensors to expand once the epidemic has passed.

Human Sensor IC Market Report Coverage:

This research report on the global human sensor IC market has been segmented and sub-segmented based on, Geography & region.

Global Human Sensor IC Market- By Technology

• Camera-Based

• Voice Recognition

• Others

The market for interaction sensors is divided into segments based on technology, industrial vertical, and geographic location. The market is divided into speech recognition, camera-based, and other categories based on technology. In terms of revenue, the camera-based segment dominated the market in 2020, and it is anticipated that this trend would continue throughout the forecast period. The market is segmented into consumer electronics, entertainment, automotive, and other sectors based on industry verticals. In 2020, the consumer electronics sector held the biggest market share, but from 2021 to 2030, the automotive sector is anticipated to grow at a considerable CAGR.

Global Human Sensor IC Market- By Geography & Region

• North America

• Europe

• Asia-Pacific

• Latin America

• The Middle East and Africa

The interaction sensor market trends in North America (the U.S., Canada, and Mexico), Europe (the German-speaking countries, the United Kingdom, France, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and the rest of Asia-Pacific), and LAMEA are examined regionally (Latin America, the Middle East, and Africa). In 2020, North America dominated the market for interaction sensors, and during the forecast period, it is expected to increase significantly. However, the forecast period is expected to have the highest growth rate in Asia-Pacific, followed by Europe.

Global Human Sensor IC Market- By Companies

• Acconeer AB

• Google Inc.

• Infineon Technologies

• KEMET Corporation

• Microchip Technology Inc.

• Neonode Inc.

• NXP Semiconductors NV

• Robert Bosch GmbH

• TDK Corporation

• Texas Instruments

NOTABLE HAPPENINGS IN THE GLOBAL HUMAN SENSOR IC MARKET IN THE RECENT PAST:

• Merger & Acquisition: - In 2021, Teledyne completed the acquisition of Flir, which is a designer and producer of thermal imaging cameras, components, and imaging sensors.
• Merger & Acquisition: - In 2021, Arcline takes the majority stake in Dwyer instruments. Dwyer Instruments is a designer and manufacturer of sensors and instrumentation services.
• Merger & Acquisition: - In 2021, ATL partners take the majority stake in Geost, which is a designer and integrator of electro-optical and infrared sensors used in space missions.