Smart Sensors Market Estimated to Witness High Growth Rate of 16% to Reach USD 50 Billion by 2022

“Smart Sensors Market”
Smart Sensors Market, By Type (Image Sensors, Smart Motion Sensors, Smart Position Sensors, Smart pressure Sensors, Smart Temperature Sensors, Touch sensors), By End-User (Automotive, Consumer Electronics, Industrial, Infrastructure, Medical) – Forecast to 2022

Market Highlights

Regional analysis for smart sensors market is studied in different geographic regions such as North- America, Europe, Asia-Pacific and rest of world. North America is expected to acquire high market share in smart sensors market due to increasing industry application of smart sensors including avionics systems in aviation industry. China and Japan is expected to support high adoption of smart sensors thereby driving the Asia- Pacific Smart sensor market.

The smart sensors market is growing rapidly over 16% of CAGR and is expected to reach at USD ~50 billion by the end of forecast period.

Key Players:

The prominent players in the Smart Sensors Market are

  • ABB Ltd (Switzerland)
  • NXP Semiconductors N.V (Netherlands)
  • Yokogawa Electric Corporation (Japan)
  • Analog Devices Inc. (U.S)
  • Siemens AG (Germany)
  • Eaton Corporation PLC (Ireland)
  • Honeywell International Inc. (U.S)
  • Emerson Electric Company (U.S)
  • Renesas Electronics Corporation (Japan)
  • STMicroelectronics (Switzerland)
  • Infineon Technologies AG (Germany)

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Smart Sensors Market Segmentation

The smart sensors market has been segmented on the basis of type and end-user. The type segment consists of image sensors, smart motion sensors smart position sensors, smart temperature sensors and smart pressure sensors. The end-user segment consists of automotive industry, consumer electronics, infrastructure, medical field. By end-user segment, smart sensors used in consumer electronics is showing potential growth in the forecast period. These sensors are used to compute, communicate, and measure parameters such as temperature, pressure and motion. These sensors are used in devices such as PCs, home, and kitchen appliances.

Market Research Analysis:

Smart sensors market is expected to revolutionize the future of the world in the forecast period. Due to its high performance and reliability, smart sensors are used in various range of applications such as medical field, consumer products, communication devices, infrastructure and automotive industries. Some of the smart sensors include accelerometers and barometers that can be used to study the activity in smart phone.

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Regional analysis for smart sensors market is studied in different geographic regions such as North- America, Europe, Asia-Pacific and rest of world. Europe region is mainly dominating the market because of advanced infrastructure growth and use of smart sensors in medical field. North America market is identified as fastest growing market because of high demand in adoption of security, surveillance, avionics systems and temperature sensors used in food & beverage sector. Asia- Pacific is driven in growth of smart city mission and infrastructure development.

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