The sensor hub market is expected to be valued at USD 32.53 billion by 2023, growing at a CAGR of 18.9% between 2017 and 2023. The key driving factors for the growth of the sensor hub market are the growing need for low power generating solutions. The consumer electronics end-use application requires low power utilizing devices, which can function for a long duration without draining the battery at a fast rate. However, the hardware/architecture complexity to integrate multiple sensors with microcontrollers and manage it requires a huge effort and advanced programming skills, thereby making it difficult to integrate sensor hubs into low range smart phones.
- Application sensor processor segment is expected to grow at the highest rate during the forecast period
- Consumer electronics is expected to hold the largest share of the sensor hub market for end-use application during the forecast period
- Asia Pacific is expected to be the fastest-growing market during the forecast period
Break down of the profiles of primary participants for the report: By Company Type: Tier 1-45%, Tier 2-30%, and Tier 3-25%, By Designation: C-Level Executives-63%, and Directors-37% and By Region: North America-33%, Europe-23%, APAC-32%, and RoW-12%.
The key players in the sensor hub market include Microchip Technology, Inc. (US), STMicroelectronics N.V. (Switzerland), Robert Bosch GmbH (Germany), NXP Semiconductors N.V.(Netherland), RoHM Co. Ltd. (Japan), Analog Devices, Inc.(US),Inven Sense, Inc. (US), Infineon Technologies AG (Germany), and Memsic, Inc. (US).
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