Sound Sensor Market Size

Sound Sensor Market size was valued at USD 1.53 billion in 2023 and is set to cross USD 3.03 billion by 2036, registering more than 5.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of sound sensor is evaluated at USD 1.6 billion. The growth in applications of sound sensors, along with the need to produce reliable sensor equipment, are expected to fuel the progress of this market in the future. Furthermore, cameras that have inbuilt sound sensing abilities can be of greater value to the safety system, which is another factor expected to drive market growth in the upcoming years. In addition, the growth of the sound sensor market can also be attributed to factors such as the ease of use of sound sensors and the advancements in sensing technologies.

According to the data collected from the World Bank, the gross fixed capital formation (GFCF) of the global economy as a percentage of GDP was 23.62% in 2019. The increase in GFCF denotes the rise in investments on fixed assets such as plant, machinery, equipment and others, which is predicted to invariably raise the need for sound sensors to secure and complement the growing infrastructure with the help of its applications. This factor is projected to contribute significantly to the sound sensor market growth.