Originally published by Technavio. The sensor market is projected to experience substantial growth, with an estimated increase of USD 274.2 billion and a compound annual growth rate (CAGR) of 17.89% from 2022 to 2027.
The expansion is driven by factors such as the rising demand for IoT technology-based devices, the utilization of sensors in smart city development, and the growing reliance on smartphones.
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This comprehensive market analysis encompasses segmentation by technology, end-user, and geography, providing insights into drivers, trends, and challenges. Furthermore, the report offers historical market data from 2017 to 2021.
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