Increasing incorporation of artificial intelligence technology in various industrial sectors for the automation of manufacturing and other processes and collaboration of smart sensors with consumer electronics have led to the increased penetration of advanced sensor technology on various electronic platforms. Market Research Future (MRFR) has published a report stating that the global intelligent sensors market is marked to expand remarkably at a CAGR of 18% during the forecast period of 2016-2022 and reach the valuation of USD 60 Bn by teh end of 2022.
Market Drivers and Restraints:
With increasing emphasis on automation of services and process in various industrial sectors, the demand for intelligent sensors is increasing, leading to the significant expansion of the global Intelligent Sensor Market. Rise in demand for intelligent sensors in automotive, aerospace, manufacturing and packaging, healthcare and other industries is majorly propelling the growth of the global intelligent sensor market.
Recent development in wearable medical devices that are embedded with advanced sensors and automation of healthcare sector are some other factors that are fueling the growth of the global intelligent sensor market. Rapid adoption of smart sensors to optimize the security surveillance in military and defense sector, various organizations and enterprises and also in smart homes, is impacting positively on the expansion of the global intelligent sensors market. However, low penetration of advanced technology in the underdeveloped regions is likely to pose a threat to the growth of the global intelligent sensor market during the forecast period.
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In October 2018, OmniVision Technologies, a corporation that designs and develops advanced digital imaging technologies, has launched a new intelligent image sensor that works equally well in all lighting conditions. The new OS02C10 is 2-megapixel image sensor which combines ultra-low-light technology with OmniVision’s Nyxel near-infrared technology to produce precise color as well as monochrome images for security applications.
In October 2018, LINET, a North Carolina-based supplier of hospital and nursing care equipment, has announced that it is launching a new line of product to serve as an intelligent sensor system, the Sentida Series. It includes moisture detection, automated lighting and other safety sensor-based safety features.
In September 2018, Firestone Industrial Products Company has launched a new fully integrated, intelligent air-spring sensor at the IAA Commercial Vehicles show in Germany. The intelligent air-spring sensor aids in reducing air compressor times by up to 80% which improves vehicle efficiency.
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.
The global intelligent sensor market has been segmented on the basis of technology, types, output and applications. Based on technology, the intelligent sensor market has been segmented into chip, system in package, hybrid technologies, CMOS process and IC compatible 3D micro-structuring. Based on types, the intelligent sensor market has been segmented into capacitive pressure centers, linear variable differential transformers and others. Based on output, the intelligent sensor market has been segmented into analog, digital, quasi-digital and others. Based on application, the intelligent sensor market has been segmented into industrial, medical, automotive, consumer electronics, infrastructure and others.
geographically, the global intelligent sensors market has been segmented into four major regions such as Asia Pacific, North America, Europe, and the rest of the world. The Europe region is forecasted to dominate the global intelligent sensors market owing to the high demand for intelligent sensors in the rapidly developing automotive industry, for production of technologically advanced automobiles in this region. The North America region is projecting to expand at a significant growth rate in the global intelligent sensor market owing to the increasing usage of smart sensors in consumer electronic devices in this region. Increasing incorporation of intelligent sensors in various industrial sectors for automation of manufacturing and production process and increasing awareness regarding the use of intelligent sensors in the healthcare sector are propelling the growth of the intelligent sensors market in the Asia Pacific region.
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- Component Manufacturers
- Electronic components
- Government bodies
- Research organizations
- Chip designers
- Equipment manufacturers
- Electronic manufacturers
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