China's sensor market may exceed 120 billion yuan

In recent years, flow sensors, pressure sensors and temperature sensors have been the best-selling devices in the sensor market in China, accounting for more than half of the market share. These three types of sensors have emerged as significant market characteristics. With the advancement of intelligence, it is believed that various emerging sensors, such as wireless sensors, microsystem sensors and biosensors, will vigorously promote the development of the sensor market. Sensors have been widely used in various sectors of the national economy. They have also been applied in national defense construction and have effectively promoted modernization.

With the continuous development of the Internet of Things in China, the entire sensor market is effectively driven. In the next five years, it is expected that the domestic sensor market will achieve a growth rate of about 31%. The demand for sensors in the areas of logistics, automobiles, coal mines, and security has seen a leap forward.

Due to the constraints of science and technology, local sensors are still in the early stages of development. There are about 1,688 companies engaged in the production and development of sensors in China, but only 50 of them are engaged in the development and production of MEMS, and their scope and monopoly are relatively small.

This status quo has caused sensor prices to remain high and it is unable to exert price advantage in the international market. Sensors are needed in all areas of human life, such as security, home appliances, transportation, resource development, and ocean exploration. The rapid development of the Internet of Things has benefited the domestic sensor industry. The global sensor industry is developing rapidly. It is expected that by 2015, the sensor market size may exceed 120 billion yuan.