Autonomous & Sensor Technology - Worldwide

The autonomous and sensor technology market is currently experiencing a surge in demand as industries seek to automate processes and reduce costs. The use of LiDAR technology for autonomous vehicles, which enables them to better sense their environment and avoid collisions, is one notable trend. Another is the use of AI and machine learning in sensors, which allow for more precise and accurate data collection and analysis. A third is a growing demand for sensors that can operate in harsh environments, such as oil rigs and mining operations.

The autonomous and sensor technology market is projected to continue growing at a steady pace over the next decade. A major factor is the increasing adoption of automation across industries, which is driving demand for autonomous vehicles and robotics. Another factor is the rise of the Internet of Things (IoT), which is creating a massive demand for sensors that can collect and transmit data. However, challenges such as data privacy concerns and the excessive cost of implementing autonomous and sensor technology may hinder the market's growth to some extent.

The Autonomous and Sensor Technology market is expected to grow at a CAGR of 15.3% from 2023 to 2030. Key factors driving this growth are the increasing adoption of automation across industries, the rise of the IoT, and advancements in AI and machine learning.

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.