Smartphone Sensors Industry is Expected to Grow at a CAGR of 6.2% Between 2021 to 2027

The global smartphone sensors market is growing at a significant CAGR of 6.2% during the forecast period (2021-2027). Smartphone sensors are the electronic element that enables smartphones to work intelligently. Smartphones and devices have various types of sensors such as gyroscope, light sensor, proximity sensor, and biometric sensor such as fingerprint sensor, face recognition, iris scan, and magnetometer among others.

Sensing technology is getting advanced over the years and every sector has various requirements of smartphone sensor that is driving the growth of the market. Rising smartphone users across the globe are one of the major reasons for the growth of the smartphone sensors market. Further, smartphone sensors are getting advanced according to the users that are pushing the market upwards.

The rising demand for IoT-based technology, rising demand for sensors in the development of smart cities is surging the growth of the smartphone sensors market. The higher competition among the smartphone manufacturers to gain higher market share is motivating them to increase their R&D expenditure on the advancement of sensors in smartphones to make them compact and efficient. Additionally, the key smartphone manufactures are constantly making attempts to improve the overall user experience to topple each other.

Based on the geography, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America is growing at a very significant pace owing to increasing sales of high-end smartphones in this region. Apart from that, rising awareness amongst consumers regarding smartphone hardware and sensors, increasing per capita income, and technological advancement and adoption in this region are the major motivating factors in the growth of the global smartphone sensors market during the forecast period.

Panasonic Corp., Samsung Group, Sony Corp., STMicroelectronics International N.V., AMS AG, Broadcom Ltd., Dyna Image, Epson Europe Electronics GmbH, and Omron Inc. among others are the key players operating in the global smartphone sensor market. To survive in the market, these players adopt different marketing strategies such as a merger, acquisitions, product launch, and geographical expansion so on. For instance, in 2020, Honor a Chinese smartphone-making company has launched its new product in China with a temperature sensor. The products are named Honor Play 4 pro. The infrared temperature sensor features of the smartphone will allow people to measure the temperature of the body or the object. The smartphone can measure the temperature between -20 degrees Celsius to 100 degrees Celsius.