Smart sensors are the tools which are used to study the environment. These sensors are capable of predicting, interpreting, communicating and interacting with the environment. Smart sensors are being developed to control and monitor robotics and automated systems. Wireless smart sensor networks are also one of the most important technologies that offer accuracy and ease of deployment. Smart sensors are also used to transform the Internet of Things (IoT). The key technologies that drive the Internet of Things (IoT) are related to smart sensor technologies which include nano technology, wireless sensor networks Thus, smart sensor market is having rapid growth all around the world.
According to segmentation, smart sensors are 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, the need of smart sensors is more in medical field. Smart sensors used in healthcare monitoring systems help doctors to inform the potential health issues in a timely manner. These sensors assist in monitoring an ageing population.
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According to Market Research Future Analysis, smart sensors market has been valued at US $ 50 Billion by the end of forecast period with 16% of CAGR during forecast period 2016 to 2022.
Market Research Future (MRFR) recognizes the following companies as the key 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), among others.
Global Smart Sensors Market can be segmented as follows:
- Segmentation by Type: image sensors, motion sensors, position sensors, pressure sensors, temperature sensors, touch sensors and others.
- Segmentation by Technology: CMOS and MEMS among others.
- Segmentation by End-User: automotive, consumer electronics, industrial, infrastructure/construction, medical and others.
By regional analysis, smart sensors market can be studied and segmented for regions like Asia Pacific, North America, Europe and rest of the world. North America has acquired the largest market shares in smart sensors market due to high demand of temperature sensors in temperature sensor industry which are used in food & beverage sector to maintain freshness and quality assurance of products. Europe is the second largest region leading due to infrastructure development and advancement in automotive industry in Germany. Asia-pacific region is third largest region which drives India and Japan in consumer electronics and smart city missions undertaken.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
- The global smart Sensors market is expected to reach USD 60 billion by 2022, growing with approximately 21% of CAGR during forecast period 2016-2022.
- By Type, Smart Image Sensors are dominating the market and has generated USD 5.18 billion in 2016. Whereas, Smart Touch sensor is expected to grow with fastest growing 27.51 % CAGR
- By Technology, CMOS based smart sensors is dominating the market and expected generate USD 40 billion market by 2022 and growing with 25.01% CAGR.
- North America is expected to dominate the market of smart sensors market throughout the forecast period.
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- Sensor manufacturer
- Consumer electronics
- MEMS and CMOS suppliers
- Research institutes
The report for Smart Sensors Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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