The importance of sensors in the market is no doubt unquestionable. The kind of growth and new development have been seen in the sensor market is beyond anyone’s imagination. The major role in automation but also in the automobile industry in case of autonomous vehicles is a significant boost to its usage, development and conceptualizing the new growth.
The sensor market globally can generate revenue of about $14.11 billion, $15.35 billion and $16.74 billion respectively in 2025, 2026 and 2027. The projected value in billion dollars are a clear sign of venturing in this market can create more profit. If more investment is made in the R&D and the improvement of such technology, then definitely more precise and refined form of sensors can help us out in technology planning and designing for better tomorrow.
The forecasted automotive LiDAR (used for measuring distance) sensor market size in 2028 is 7,238.4 million US dollars. The forecasted shipment of LiDAR sensors globally is in a million units, it is in 1.4 to 34 million units. The market is volatile and in huge demand.