Interaction Sensor Market Projected to Reach $191.34 Billion By 2030: Allied Market Research

Rise in demand for interactive gaming, increased safety and security features in the automotive industry, advancement in sensors and its increasing usage in smartphones, and other electronics devices drive the growth of the global interaction sensor market. North America contributed to the highest share in terms of revenue in 2020, holding around half of the total market share.

Portland,OR, Dec. 09, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global interaction sensor market generated $22.91 billion in 2020, and is projected to reach $191.34 billion by 2030, witnessing a CAGR of 25.5% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Rise in demand for interactive gaming, increased safety and security features in the automotive industry, advancement in sensors and its increasing usage in smartphones, and other electronics devices drive the growth of the global interaction sensor market. However, high manufacturing cost and rise in popularity of gesture technology restrain the market to some extent. On the other hand, advancements in sensors and its increasing usage in smartphones, and other electronic devices present new opportunities in the upcoming years.

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COVID-19 Scenario:

• The outbreak of the COVID-19 pandemic has had a negative impact on the interaction sensor market.

• All manufacturing hubs were temporarily closed and the whole supply chain were disrupted. Also, rise in prices of raw materials and lack of labor force hampered the growth of the interaction sensor market.

• However, the global situation is getting better at a slow & steady pace, and the market is anticipated to revive soon.

The report offers detailed segmentation of the global interaction sensor market based on technology, industry vertical, and region. Based on technology, the camera-based segment held the highest market share in 2020, holding nearly half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover the same segment registered the highest CAGR of 27.6% from 2021 to 2030.

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Based on industry vertical, the entertainment segment held the largest market share in 2020, holding nearly half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the automotive segment is projected to register the highest CAGR of 29.0% from 2021 to 2030.

Based on region, North America contributed to the highest share in terms of revenue in 2020, holding around half of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 28.0% during the forecast period.

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List of companies profiled of the global interaction sensor market analyzed in the research include Acconeer AB, Google Inc., Infineon Technologies, KEMET Corporation, Microchip Technology Inc., Neonode Inc., NXP Semiconductors NV, Robert Bosch GmbH, TDK Corporation, Texas Instruments. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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