Smart Sensors Market Overview :
Global Smart Sensors Market is estimated to reach $101 Billion by 2025; growing at a CAGR of 18.5% from 2017 to 2025. Smart sensor is the arrangement of a sensing element with processing capacities imparted by a microprocessor. That is, smart sensors are basic sensing elements with embedded intelligence. Some of the functions that can be performed by smart sensor are data conversion, digital processing, providing a digital output, interaction with external devices, logic functions, two-way communication, and to make decisions. It can also perform such functions as compensation of secondary parameters failure prevention and detection, self-testing, autocalibration, and various computationally intensive operations. It can be used throughout numerous industries such as consumer electronics, automotive, industrial, medical, security & defense and entertainment as of increasing usage of sensing element and process controls in this zone.
The major factors boosting the growth of the global smart sensor market are rising demand for electronics & automobile, increasing concern towards surveillance & security, wireless technology, and development of smart cities. Additionally, promising government initiatives have also stimulated the market growth. However, high prices, and complex structure are the key restraint for the market growth. Moreover, inclination of people towards IoT, increase in demand for vehicles & smart phones, advancement of smart cities, and enhanced security measures would unfold profitable growth opportunities for the market in the forthcoming future.
The bifurcations of the global smart sensors market are product, end user and geography. Product segment is classified into image sensors, touch sensors, smart motion sensors, smart temperature sensors, smart pressure sensors and smart position sensors. By end user, the market comprises industrial, medical equipment, automotive industry, consumer electronics, infrastructure, and other end users (avionics, food & beverage).
Based on geography, the global smart sensors market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexica, whereas Europe consists of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Some of the major players operating in the market include Emerson Electric Co., Infineon Technologies AG, NXP Semiconductors, Renesas Electronics Corporation, Siemens AG, ABB Ltd., Analog Devices, Inc., Eaton Corporation, STMicroelectronics, and Yokogawa India Ltd., among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Smart Sensors Market with respect to major segments such as product, end user and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Smart Sensors Market has been included in the report
- Profile of the key players in the Global Smart Sensors Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Smart Sensors Market
- Image Sensors
- Touch Sensors
- Smart Motion Sensors
- Smart Temperature Sensors
- Smart Pressure Sensors
- Smart Position Sensors
End User Segments
- Medical Equipment
- Automotive Industry
- Consumer Electronics
- Other end users (Avionics, Food & Beverage)
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East