That’s Right, I’m Talking About Sensors

Why Don’t We Talk About This More?

I’m pretty paranoid about nails.

I can’t tell you how many times someone in my family ran over a nail that fell out of a truck and caused one of the tires to leak.

That’s why I place so much faith in my car’s sensors. They warn me if a tire might be low on the air almost the moment I start the ignition.

Without it, I could easily be stranded on the highway.

Two major tire firms are taking that to the next level by adopting AI and sensors as a play on the $70 billion last-mile delivery market.

It’s all about making smart tires that can facilitate e-commerce deliveries.

Today I’m going to show you a great way to invest in an even bigger high-tech sector, the $166.7 billion sensor market…

macro photography of black circuit board
Image Source: Unsplash

The Microchip’s Thankless Cousin

Tragically, sensors get no respect.

Sensors are tiny devices that detect changes in their surroundings and generate signals based on them. For example, accelerometers in phones and smartwatches let those devices know when they’re moved, in what direction, and with what force.

Instead, everyone focuses on the global, almost $450 billion-sized chip industry. Especially now with the chip shortage that’s slowing down the production of everything from cars to computers to phones.

Yes, chips power all our modern electronics. Which is just another way of saying that they power all modern life, really.

But sensors are just as important, and yet they’re largely unheralded – even though it’s a huge global market.

Nothing to See Here, just a Hundred-Billion Dollar Market

Allied Market Research estimates the sensor market was worth $166.7 billion in 2019 and projects it will balloon to $345.8 billion by 2028.

That’s a compounded annual growth rate of a whopping 8.9% for the next seven years.

It’s a no-brainer, really. Sensors are everywhere, from your phone, tablet, or smartwatch to your car to medical devices and even security hardware.

1 2 3
View single page >> |

Disclosure: None.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.