Europe Sensors Market Size (2024 - 2029)

Europe Sensors Market Analysis

The Europe Sensors Market size is estimated at USD 23.65 billion in 2024, and is expected to reach USD 32.62 billion by 2029, growing at a CAGR of 6.64% during the forecast period (2024-2029).

Demand for intelligent sensor technology is rapidly expanding, from navigation systems in smartphones to driver-assistance systems. Sensors play an increasingly crucial role in winning the technology. Megatrends like the Internet of Things (IoT), wearable systems for health monitoring, and vehicle automation are significant drivers behind the growing demand for sensors.

• In the European sensor market, innovations in sectors like healthcare, automotive, defense and aerospace, and consumer electronics are said to be responsible for the growth. Another factor propelling the market is several government investments and initiatives to improve semiconductor production capabilities.
• In May 2024, Dexcom launched the Dexcom ONE+ continuous glucose monitor (CGM), in the UK. Drawing on insights from both users and healthcare experts, Dexcom has fine-tuned its established sensor design for the ONE+. Notably, this iteration features the advanced G7 sensor, a significant upgrade from its predecessor, which relied on the G6 sensor.
• However, high initial costs and operational concerns are the major factors anticipated to restrain the market's growth over the forecast period. Further, high-quality raw materials are vital for manufacturers as an essential part of producing superior sensors. Metals and alloys used in manufacturing include platinum, copper, silicon, tungsten, nickel, and alloys, which are further categorized into type-K, type-M, type-E, and type-J. Fluctuations in prices and supply of raw materials could also cause hindrances in the growth of the sensors market.
• The UK's Department for Science, Innovation, and Technology unveiled the National Semiconductor Strategy, committing to invest GBP 1 billion over the next decade. This investment aims to enhance infrastructure accessibility, bolster research and development efforts, and foster increased international collaboration, with an initial allocation of up to GBP 200 million earmarked for the years 2023-2025.

Europe Sensors Industry Segmentation

A sensor detects and responds to the inputs from the physical environment. A typical input could be pressure, light, heat, motion, and moisture, among many others.

The European sensor market is segmented by parameters measured (temperature, pressure, level, flow, proximity, environmental, chemical, inertial, magnetic, vibration and other parameters measured), mode of operation (optical, electrical resistance, biosensors, piezoresistive, image, capacitive, piezoelectric, lidar, radar, and other modes of operation), end-user industry (automotive, consumer electronics (smartphones, tablets, laptops, and computers, wearable devices, smart appliances or devices, and other consumer electronics), energy, industrial and other, medical and wellness, construction, agriculture and mining, aerospace, and defense), and country (United Kingdom, France, Germany, and Other European Countries). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.