Taiwan Sensors Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.70 Billion |
| Market Size (2029) | USD 5.11 Billion |
| CAGR (2024 - 2029) | 6.67 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Taiwan Sensors Market Analysis
The Taiwan Sensors Market size is estimated at USD 3.70 billion in 2024, and is expected to reach USD 5.11 billion by 2029, growing at a CAGR of 6.67% during the forecast period (2024-2029).
- The demand for sensors is increasing in Taiwan owing to the rapidly evolving consumer electronics market, increased demand for 5G smartphones and gaming laptops, and the adoption of cutting-edge technologies such as AI and ML in electronic devices. Smartphones gained traction across the country owing to several factors, like increasing disposable income, the advent of 5G, the development of telecom infrastructure, etc.
- Sensors in smartphones are employed to detect various aspects of the environment. With the growing evolution of smartphones, the number of sensors embedded in the body is also increasing. Several types of sensors like motion sensors, environmental sensors, position sensors, ambient light sensors, proximity sensors, accelerometer sensors, gyroscope sensors, and barometer sensors. etc., are utilized in smartphones. The increasing penetration of smartphones would offer robust opportunities for boosting the market studied.
- The increase in the use of wearable devices is a significant trend in the market. Market growth is anticipated as consumer interest grows due to advancements in technology. Due to the growing demand for wearable devices, key manufactuers focus on new product launches and innovative product developments. In March 2024, Samsung unveiled its latest wearable, the Galaxy Ring, at the Galaxy Unpacked event. Scheduled for a late summer 2024 release, this ring-shaped device promises to track health metrics, offering insights akin to a smartwatch's.
- Further, according to GSMA, in 2023, the number of mobile 4G connections in Taiwan increased to 37% compared to the previous year. Taiwan initiated the implementation of its 5G network. According to forecasts, over 50% of all mobile internet connections in the country are expected to be based on 5G technology by 2025. Thus, the growth of 5G technology significantly drives the demand for sensors as 5G technology operates at higher frequencies, including sub-6 GHz and millimeter-wave bands.
- As machines evolve to become more intelligent and intuitive in the Industry 4.0 revolution, the demand for sensor applications in industrial settings is surging. These advanced devices prioritize efficiency, safety, and flexibility, autonomously monitoring their performance, usage, and potential failures.
- The high costs associated with research and development for creating new products pose a significant challenge, especially for smaller sensor manufacturers that may lack funds. The technological requirements necessitate that the sensing elements operate at a high bias voltage of 5V and generate signal voltages in the range of a few microvolts (μV). Fluctuations in the supply voltage and temperature significantly impact the stability and accuracy of the device's outputs.
- The rising inflation rates have increased the cost of goods and services, including consumer electronics. Higher costs lead to reduced purchasing power for consumers and businesses, slowing market growth. Further, the ongoing war between Russia and Ukraine has disrupted the global supply chain, particularly affecting the availability and cost of electronic components and raw materials used in electronic devices. This is leading to delays in production and increased costs for manufacturers. The reduced demand for consumer electronics significantly hampers the market growth.
Taiwan Sensors Market Trends
Environmental Sensors are Expected to Register Significant CAGR
- An environmental sensor is a device that measures and monitors various environmental parameters. These parameters include temperature, humidity, pressure, light, rainfall, wind speed, wind direction, noise, and specific particulate matter sizes like PM2.5 and PM10. Typically, these sensors consist of a sensitive element and a conversion element. The sensitive element detects environmental changes, while the conversion element translates these changes into an electrical signal for measurement and recording.
- Environmental monitoring plays an important role in protecting the environment from toxic contaminants and pathogens. It is commonly used to prepare environmental impact assessments and establish the circumstances in which human activities risk harmful effects on the natural environment. Environmental monitoring sensors can measure air quality, water purity, and soil composition.
- Environmental sensors find diverse applications across environmental protection, agriculture, meteorology, and industry. In environmental protection, they play a crucial role in detecting air quality, pollutant emissions, and other environmental parameters, aiding in timely environmental assessments and formulating effective countermeasures.
- These sensors come in various types, each tailored to detect specific environmental parameters. These sensors operate on diverse measurement principles, including the thermoelectric effect and resistive, capacitive, and photoelectric technologies.
- Moreover, the Taiwanese government has enacted a series of regulations and policies to curb pollution, safeguard natural resources, and uphold environmental integrity. Environmental sensors play a pivotal role in ongoing monitoring to ensure adherence and gauge advancements.
- After witnessing a successful reduction in the mean concentration of fine particulate matter (PM2.5) over the past seven years, the government plans to elevate air quality standards in central and southern Taiwan, as announced by the Ministry of Environment. To combat transportation-related air pollution, local governments nationwide established 63 air quality maintenance zones.
- The National Development Council approved the Phase II Air Pollution Prevention action plan in October 2023, which is set to run from 2024 until 2027 and is now pending approval from the Executive Yuan. The ministry aims to further decrease the mean PM2.5 concentration in central and southern Taiwan to 15 mg/m2.
Automotive is Expected to Witness Highest Growth Rate
- The automotive industry in Taiwan has experienced significant growth in recent years. With a focus on electric vehicles and smart mobility solutions, Taiwan has positioned itself as a key player in the global automotive industry. Additionally, Taiwan’s expertise in semiconductor manufacturing has allowed it to supply critical components for advanced driver-assistance systems (ADAS) and autonomous vehicles.
- Statistics from the Taiwan Transportation Vehicle Manufacturers Association revealed that from January to November 2023, Taiwan's vehicle industry production value surged to NTD 770.3 billion (USD 23.80 billion), representing about 4.8% of the nation's total manufacturing output.
- Advanced driver assistance systems (ADAS) require numerous integrated sensors to accurately determine situational assessment and action implementation. ADAS technologies, like cameras, ultrasonic, LIDAR, radar, and infrared (IR) sensors, are being utilized by OEMs and Tier 1 suppliers. The increasing penetration of ADAS in the automotive sector would offer several growth opportunities for the market studied.
- As the automotive industry endeavors to meet global environmental regulations, the need for increased efficiency and improved engine system control has become paramount. This requires the use of efficient wireless sensors to accurately monitor conditions through Bluetooth and battery-free RFID technology, thereby enhancing efficiency by targeting non-critical systems within vehicles.
- The automotive industry is presently undergoing a technology transition that focuses on increasing safety, comfort, and entertainment, providing ample opportunities for applying wireless sensors. Emerging applications like autonomous vehicles and drones further accelerate the need for wireless sensors.
Taiwan Sensors Industry Overview
The Taiwanese sensors market is highly competitive owing to the presence of several leading players like Texas Instruments Incorporated, STMicroelectronics Inc., Rockwell Automation Inc., Sony Corporation, ABB Limited, Omron Corporation, Bosch Sensortec GmbH, Infineon Technologies AG, amr Osram, and Siemens AG. Market participants strategically leverage partnerships and acquisitions to bolster their product portfolios and establish a sustainable competitive edge.
- In May 2024, Infineon Technologies AG unveiled the latest XENSIV TLE49SR angle sensor family, offering a unique blend of exceptional stray field immunity and precise accuracy. These sensors are perfectly suited for use in safety-critical automotive chassis systems, including electric power steering and vehicle height leveling.
- In January 2024, amr Osram announced its intention to showcase the latest member of the Mira product family, the Mira016 CMOS image sensor, at Photonics West in San Francisco. The Mira016 boasts a resolution of 400 x 400 pixels for a backside illuminated (BSI), a double-stack sensor that comes in a compact 1.8 mm x 1.8 mm sized package. It operates at a power of 20 mW at full resolution and 90 fps and also offers high quantum efficiency in the near-infrared, providing high performance with low power consumption.
Taiwan Sensors Market Leaders
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Texas Instruments Incorporated
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Bosch Sensortec GmbH
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Infineon Technologies AG
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STMicroelectronics Inc.
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Sony Corporation
*Disclaimer: Major Players sorted in no particular order
Taiwan Sensors Market News
- April 2024: TE Connectivity (TE) expanded its product line with the introduction of two cutting-edge wireless pressure sensors. The first, the 65xxN sensor, is tailored for short-range applications, while the second, the 69xxN sensor, is optimized for long-range coverage. Both sensors are specifically crafted for periodic condition monitoring. Notably, the 65xxN sensor utilizes BLE (Bluetooth Low Energy) 5.3 technology, enabling seamless localized data collection and transmission.
- February 2024: STMicroelectronics introduced an all-in-one, direct Time-of-Flight (dToF) 3D LiDAR module boasting a market-leading 2.3k resolution. Additionally, the company has disclosed an early design win for the world's smallest 500k-pixel indirect Time-of-Flight (iToF) sensor. The VL53L9, a novel direct ToF 3D LiDAR device, offers a resolution of up to 2.3k zones. Featuring a dual scan flood illumination, which is unparalleled in the market, this LiDAR is capable of detecting small objects and edges while simultaneously capturing both 2D infrared (IR) images and 3D depth map information.
Taiwan Sensors Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumption and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Consumers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitute Products
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Industry Value Chain Analysis
- 4.4 Impact of COVID-19 Aftereffects and Other Macroeconomic Factors on the Market
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Rising Demand for IoT and Connected Devices
- 5.1.2 Increasing Adoption of Advanced Sensor Technologies in Automotive Industry
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5.2 Market Challenges
- 5.2.1 High Initial Cost Involved
6. MARKET SEGMENTATION
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6.1 By Product Type
- 6.1.1 Temperature
- 6.1.2 Pressure
- 6.1.3 Level
- 6.1.4 Flow
- 6.1.5 Proximity
- 6.1.6 Environmental
- 6.1.7 Chemical
- 6.1.8 Inertial
- 6.1.9 Magnetic
- 6.1.10 Vibration
- 6.1.11 Other Product Types
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6.2 By Mode of Operation
- 6.2.1 Optical
- 6.2.2 Electrical Resistance
- 6.2.3 Biosensor
- 6.2.4 Piezoresistive
- 6.2.5 Image
- 6.2.6 Capacitive
- 6.2.7 Piezoelectric
- 6.2.8 LiDAR
- 6.2.9 Radar
- 6.2.10 Other Modes of Operation
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6.3 By End-user Industry
- 6.3.1 Automotive
- 6.3.2 Consumer Electronics
- 6.3.3 Energy
- 6.3.4 Industrial and Other
- 6.3.5 Medical and Wellness
- 6.3.6 Construction, Agriculture and Mining
- 6.3.7 Aerospace
- 6.3.8 Robotics
- 6.3.9 Other End-user Industries
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles*
- 7.1.1 STMicroelectronics Inc.
- 7.1.2 Honeywell International Inc.
- 7.1.3 Infineon Technologies AG
- 7.1.4 Bosch Sensortec GmbH
- 7.1.5 Vishay Intertechnology Inc.
- 7.1.6 TDK Corporation
- 7.1.7 Texas Instruments Incorporated
- 7.1.8 ABB Limited
- 7.1.9 Siemens AG
- 7.1.10 ams OSRAM AG
- 7.1.11 Allegro MicroSystems, Inc.
- 7.1.12 Omega Engineering Inc.
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
** Subject To AvailablityTaiwan Sensors Industry Segmentation
A sensor is designed to detect and react to various inputs from the physical environment, such as pressure, heat, light, motion, and moisture. The study tracks the revenue accrued through the sale of sensor products by various players in Taiwan. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study further analyses the overall impact of COVID-19 aftereffects and other macroeconomic factors on the market. The report's scope encompasses market sizing and forecasts for the various market segments.
The Taiwanese sensors market is segmented by product type (temperature, pressure, level, flow, proximity, environmental, chemical, inertial, magnetic, vibration sensors, and other product types), mode of operation (optical, electrical resistance, biosensor, piezoresistive, image, capacitive, piezoelectric, LiDAR, radar, and other modes of operation), and end-user industry (automotive, consumer electronics, energy, industrial and other, medical and wellness, construction, agriculture and mining, aerospace, robotics, and other end-user industries). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Product Type | Temperature |
| Pressure | |
| Level | |
| Flow | |
| Proximity | |
| Environmental | |
| Chemical | |
| Inertial | |
| Magnetic | |
| Vibration | |
| Other Product Types | |
| By Mode of Operation | Optical |
| Electrical Resistance | |
| Biosensor | |
| Piezoresistive | |
| Image | |
| Capacitive | |
| Piezoelectric | |
| LiDAR | |
| Radar | |
| Other Modes of Operation | |
| By End-user Industry | Automotive |
| Consumer Electronics | |
| Energy | |
| Industrial and Other | |
| Medical and Wellness | |
| Construction, Agriculture and Mining | |
| Aerospace | |
| Robotics | |
| Other End-user Industries |
Taiwan Sensors Market Research FAQs
How big is the Taiwan Sensors Market?
The Taiwan Sensors Market size is expected to reach USD 3.70 billion in 2024 and grow at a CAGR of 6.67% to reach USD 5.11 billion by 2029.
What is the current Taiwan Sensors Market size?
In 2024, the Taiwan Sensors Market size is expected to reach USD 3.70 billion.
Who are the key players in Taiwan Sensors Market?
Texas Instruments Incorporated, Bosch Sensortec GmbH, Infineon Technologies AG, STMicroelectronics Inc. and Sony Corporation are the major companies operating in the Taiwan Sensors Market.
What years does this Taiwan Sensors Market cover, and what was the market size in 2023?
In 2023, the Taiwan Sensors Market size was estimated at USD 3.45 billion. The report covers the Taiwan Sensors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Taiwan Sensors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Taiwan Sensors Industry Report
Statistics for the 2024 Taiwan Sensors market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Taiwan Sensors analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
