APAC Consolidating its Lead Position in Sensors Market in Consumer Electronics
Key countries like China, Japan and India are driving the overall sensors market. Major global players from APAC region operating in consumer electronics segments are Sony Corp (Japan), Panasonic (Japan), Toshiba (Japan), Lenovo (China), Samsung (Korea). These companies are investing heavily in R&D activities to increase their product’s performance and marketability.
Traditionally, Europe and North America have dominated the consumer electronics market due its large buying power and high standards of living of the people. The key sensor manufacturing companies operating in this field are mainly located in the US and Europe like STMicroelectronics (Switzerland), Aptina Imaging (US), Bosch Sensortec (Germany), Texas Instruments (US), Omnivision Technologies (US). This has changed in last decade with low manufacturing cost of electronics products, large pool of low cost manpower with better skill set are easily available in APAC region, as compared to their western counterpart. Also, the cost of shipment of sensors used as electronics components is very low and as this is considered as a labor intensive sector, APAC is moving forward with leaps and bounds in consumer electronics segment.
In the last decade, the GDP growth rate of the APAC region has been higher when compared to North America and Europe and with ever increasing buying power of its population; the APAC region is consolidating its lead position in the sensors for consumer electronics market.
Most of the major US based sensors manufacturers have a good presence in Europe and North America. However, such companies are still establishing themselves in the Asian region. Local giants, especially China, are surely expected to make their job tougher to a great extent. Nevertheless, the penetration of this market through mergers and acquisitions with the local players would surely increase the revenue of the global players to a great extent. While all the other regions are expected to grow at less than 9% CAGR 2013-2020, the APAC region is expected to grow at a CAGR of nearly 11% during the forecast period.
Related Reports:
Sensors Market in Consumer Electronics by Product (Touch, Image, Motion, Temperature, Position, Pressure), Application (Entertainment, I.T., Communication Products, Home Appliances), & Geography (North America, Europe, APAC, ROW) - Worldwide Market Forecasts and Analysis (2013 - 2020)
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