Americas Sensor Market Size

Statistics for the 2023 & 2024 Americas Sensor market size, created by Mordor Intelligence™ Industry Reports. Americas Sensor size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Americas Sensor Industry

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Americas Sensor Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 38.27 Billion
Market Size (2029) USD 52.38 Billion
CAGR (2024 - 2029) 6.48 %
Market Concentration High

Major Players

Americas Sensor Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Americas Sensor Market Analysis

The Americas Sensor Market size is estimated at USD 38.27 billion in 2024, and is expected to reach USD 52.38 billion by 2029, growing at a CAGR of 6.48% during the forecast period (2024-2029).

The growing automotive, healthcare, and consumer electronics production substantiates the Americas' sensor demand.

  • In recent years, the government has taken several initiatives to drive the growth of the country's manufacturing industry, creating a favorable outlook for the market's growth. The Canadian government undertakes various initiatives to modernize the industrial sector infrastructure as per Industry 4.0 guidelines. Green manufacturing initiatives are also expected to positively contribute to the market's growth in Canada.
  • The increasing government spending in the defense industry and expanding sensor applications in the military and defense are anticipated to drive market demand. For instance, Canada ranks sixth in terms of contributions to the common budget of NATO. In 2022, Canada announced that it would spend USD 38.6 billion over 20 years to update the North American Aerospace Defense Command (NORAD), supported by an investment of USD 6.1 billion in equipment. Such investments may influence the rate of sensor adoption.
  • The American region is a mature market for the computing industry. Higher penetration of digital technologies and a tech-friendly population favors this claim. Some leading PC/desktop manufacturers, including HP, Dell, and Apple, are based in the American region. As sensors are widely used in computing and associated devices, higher demand for computing products is expected to support the market's growth during the forecast period.
  • High cost is involved in R&D activities to manufacture new products, further acting as a critical challenge for the cash-deficient small and medium-sized sensor manufacturers.

Americas Sensor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)