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The Expanding Market of Electronic Sensors and Sensor Product Applications

Posted by bead electronics on Dec 2, 2020 4:15:27 PM

As the internet of things continues to expand, sensors are becoming increasingly common and the market is growing. Why? Sensors gather data and this data is useful for real-time analysis (Wired) for safety, precision, detection, and more. Safety applications and automation increasingly use sensors for precision. Products that use sensors include temperature sensors, automotive electronic stability control systems, carbon monoxide detectors, televisions, ambient light sensors in phones, RFID scanners, and motion detectors.

One example where the use of sensors is rapidly increasing is automotive light radar which is useful in autonomous driving. Despite the shorter distance of light radar, the resolution is much higher. Collision avoidance is a rapidly growing industry with a predicted compound annual growth rate of 21.2% in 2020-2025 (Marketwatch).

The healthcare field is another industry in which the use of sensors is quickly expanding, especially in the form of diagnostics and wearables, sensors for which require miniaturization and a high degree of reliability. The Medical Sensors Market is expected to expand at a 9.9% CAGR from 2018 to 2026 (Biospace). Overall, the market size for Iot Sensors is predicted to reach $58.9 Billion by 2026 (Valuates Reports), and the overall “global sensor market is expected to reach an estimated $238 billion by 2025 with a CAGR of 9.3% from 2020 to 2025 (ResearchAndMarkets).

Since most sensors used in current product applications are electrical in nature - converting data into electrical data - connectivity and the types of electronic pin connectors used in the manufacturing of sensors is key to the successful application of a sensor. Bead Electronics designs and manufactures pins for many types of sensors used throughout the sensor marketplace. Click below to learn more and/or contact one of our pin specialists today.

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