Intelligent Sensor Market Global Market – Overview
Intelligent sensors are the sensors possessed by the capability of modifying and monitoring internal behaviour and performing several predefined intelligent functions. These functions include self-checking, self-validation, self-identification, self-diagnosis, self-testing, and others, appropriately when the sensors recognize an apposite input from peripheral devices or systems. These sensors are executed with the embedded microcontrollers and microprocessors including all functions of a processing unit. The global market of intelligent sensors is expected to grow at USD 60 billion with a CAGR of 18% during the forecast period.
Intelligent sensors are of great interest in several industrial sector such as medical, manufacturing, consumer electronics, and others. These industries utilize energy on a large scale as a result government and manufacturers are empahsized on sustainability growth strategy and focused on saving energy. Industries have started investing in energy efficient applications and utilize energy in an optimum manner. Hence, growing need for energy efficient devices in medical, industrial, and consumer electronics sector is expected to propel the growth of the intelligent sensor market. The market has witnessed a positive growth in the MEMS technology, owing to the spread of numerous applications across various commercial sectors. These applications include embedded processing and sensors with bus capabilities, and are expected to drive the intelligent sensor market. However, high price of raw materials is one of the factors which is expected to hinder the growth of the market.
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The prominent players in the market of Intelligent Sensor Market are – Custom Sensors & Technologies, Inc. (U.S.), Delphi Automotive LLP (U.K.), ABB Ltd. (Australia), Analog Devices, Inc.(U.S.), Honeywell International, Inc. (U.S.), Robert Bosch GmBH (Germany), Meggitt Sensing Systems (U.S.), Siemens AG (Germany), Yokogawa Electric Corporation (Japan) and Infineon Technologies AG (Germany) among others.
Intelligent Sensor Market Global Market – Segmentation
The global intelligent sensor market has been segmented on the basis of technology, type, output, and applications. These segments are further sub-segmented based on the following:
- Segmentation by technology: the intelligent sensor market is segmented into system on chip, system in package, hybrid technologies, CMOS process, and IC compatible 3D micro structuring
- Segmentation by type: this segmented is bifurcated into capacitive pressure centers and linear variable differential transformers
- Segmentation by output: this is further segmented into analog, digital, and quasi digital
- Segmentation by application: the application segment is further segmented into industrial, medical, automotive, consumer electronics, and infrastructure
- Segmentation by region: North America, Europe, Asia-Pacific and rest of the world
Intelligent Sensor Market Global Market – Regional Analysis
The regional analysis of intelligent sensor market is studied for North America, Europe, Asia-Pacific and rest of the world.
Developed nations such as Germany, UK, France, and Italy have witnessed advancements in healthcare standards along with growing infrastructure related to consumer electronics. This leads to higher utilization of sensors by manufacturers in the countries, resulting in the dominance of Europe in the intelligent sensor market during the forecast period. North America is expected to witness a positive growth in the market, owing to the advancements and frequent replacements of consumer electronics devices. Furthermore, countries such as Canada, US, and Mexico have rich manufacturers and IT industries which is a major factor influencing the growth on intelligent sensors during the forecast period.
China is among the biggest producers of semiconductor equipment in the world, which generates a greater demand for consumer electronic products. Hence, Asia-Pacific is predicted to experience a significant growth in the intelligent sensor market during the forecast period.
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- Component Manufacturers
- Electronic components
- Government bodies
- Research organizations
- Chip designers
- Equipment manufacturers
- Electronic manufacturers
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