+1-888-308-5802     
News Contact Us

Smart Sensor Market Report to 2024 - Upcoming Trends and Revenue Forecasts

Author : Ronak Bora | Published Date : 2020-09-14 

Looking at the commercial aspect, automotive industry is one of the major sectors propelling smart sensor market share. The sensors are installed in automobiles to regulate the temperature inside the vehicles and optimize the energy consumption by the vehicles. Moreover, the driverless cars which are the next big thing in the automotive business space will further augment the smart sensors industry size, attributed to the technology’s pivotal role in making these cars truly intelligent. Auto industry giants such as Mercedes-Benz, Toyota, Volvo, etc. have a strong pipeline for the launch of these smart cars in the coming years.

The exponentially increasing driverless cars industry is itself a testimony to the remarkable growth of the smart sensor market. These smart sensors comprise self-diagnostics and data gathering features that enhance the control, reliability, and interoperability features of the vehicle. Audi, the renowned automotive giant has embedded 16 smart sensors in its Smart Car A7 model, making it one of the chief driverless cars in the luxury car segment.  These sensors assist the car in analyzing the surrounding environment with impending dangers, communicating with other vehicles, and navigating the travel route.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/678

The Internet of Things revolution worldwide is providing a remarkable impetus to the smart sensor market, the testimony of which is the huge share of USD 20 billion recorded by this industry in 2015. Over the past few years, smart and sustainable technologies have generated a significant momentum in the global business space and the growth chart depicts a linear adoption curve for these devices in the years ahead. In this regard, the government support indeed holds a significant credit in nurturing the expansion of smart sensor industry.

Smart home and smart city development are the prominent initiatives of the government bodies, exponentially increasing the deployment of smart sensors globally. These projects are substantially contributing toward the smart sensor industry share by incorporating this technology in a series of applications such as energy management and climate control, home security, windows and appliance control, lighting, assisted living, and audio-visual entertainment. Among these applications, home security and energy management applications are anticipated to exhibit massive contribution toward smart sensor market share in the coming years. The security needs of the houses can be met by the installation of image sensors at the doors to keep a check on visitors entering the house or alerting the residents in case of emergencies such as fire, thefts, etc. Moreover, the growing inclination toward sustainable energy is also fueling the smart sensor industry size from residential applications, where these sensors can enable optimal usage of the energy.

Advancements in MEMS technology such as sensor fusion led to high usage in various industrial verticals such as automotive, healthcare, aviation and consumer electronics. Rising adoption of wearable technology such as smart watches and wrist bands is expected to surge the demand for MEMS technology in the smart sensor market. In automotive industry, this technology is widely implemented in the airbag systems pertaining to rising passenger safety concerns coupled with favourable government regulations further contributing to the smart sensor market growth.

In automotive industry, use of these components for automatic climate control improves passenger comfort by controlling the cooling systems. Reduction of energy consumption in vehicles is achieved by incorporating the products with air-conditioned seats for temperature & humidity control. All these factors significantly contribute to the automotive smart sensor market growth over the forecast timeline.

North America dominated the smart sensor market with major market share in 2015 pertaining to the rising adoption across various industry verticals to provide concerning consumer protection and safe working environment. The presence of major industry players such as Atmel Corporation, Infineon Technologies and Qualcomm Inc contributes to the industry growth in the region.

Request for customization @ https://www.gminsights.com/roc/678

Key players in the smart sensor market include ABB Group Ltd., Analog Devices Inc., Emerson Electric Company, Honeywell International Inc., General Electric, Eaton Corporation, Atmel Corporation, NXP Semiconductors and Infineon Technologies.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Methodology

1.1.1    Initial data exploration

1.1.2    Statistical model and forecast

1.1.3    Industry insights and validation

1.1.4    Definition and forecast paramters

1.2    Data Sources

1.2.1    Secondary

1.2.2    Primary

Chapter 2   Executive Summary

2.1    Smart sensors industry 3600 synopsis, 2013 – 2024

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Technology trends

2.1.4    Network trends

2.1.5    Application trends

2.1.6    Regional trends

Chapter 3   Smart Sensor Market Insights

3.1    Industry segmentation

3.2    Industry lanscape, 2013 - 2024

3.3    Industry ecosystem analysis

3.3.1    Vendor matrix

3.4    Technology & innovation landscape

3.4.1    Smart devices

3.4.1.1   Smart homes

3.4.1.1.1    Home Security

3.4.1.1.2    Energy management & climate control systems

3.4.1.1.3    Lighting, window & appliance control systems

3.4.1.1.4    Audio?visual & entertainment systems

3.4.1.2   Commercial/Industrial building

3.4.2    Internet of Things

3.5    Regulatory landscape

3.5.1    Europe

3.5.2    North America

3.5.3    Asia Pacific

3.5.4    Latin America

3.5.5    Middle East

3.6    Industry Impact forces

3.6.1    Growth drivers

3.6.1.1    Rising government initiatives

3.6.1.2    Rising security risks leading to high demand for advanced smart sensors

3.6.1.3    Rising focus on environment safety

3.6.1.4    Emerging demand across various applications

3.6.1.5    Growing demand for miniaturized products

3.6.1.6    Increasing demand in monitoring and diagnostics applications

3.6.2    Industry pitfalls and challenges

3.6.2.1    Product lifecycle concerns

3.6.2.2    Complex design

3.7    Growth potential analysis. 2016

3.8    Porter’s analysis

3.9    PESTEL analysis

3.10   Use cases/5W1H

3.10.1    Residential building/smart home

3.10.1.1   Home security

3.10.1.2   Energy management & climate control systems

3.10.1.3   Lighting, window & appliance control systems

3.10.1.4   Audio?visual & entertainment systems

3.10.1.5   Assisted living

3.10.2    Consumer electronics

3.10.3    Automotive

3.10.4    Oil & gas

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/smart-sensor-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

Related News

North America Dental Implants Market Size to Surpass USD 1.78 Billion by 2024

Published Date: 2020-09-25         Author: Ronak Bora

The research report on North America Dental Implants Market offers a thorough understanding on this industry with significant details subject to its overall foothold in the global landscape and its application across major end-user industries and sectors. According to this report, North America dent... Read More

North America Attapulgite Market - A USD 170 million Opportunity by 2024

Published Date: 2020-09-25         Author: Ronak Bora

The study on North America Attapulgite Market provides a complete view on the industry with intricate details subject to its overall stance in the global landscape along with specifying various applications across major end-user sectors. North America attapulgite industry, as per the given report... Read More

North America Biomedical Refrigerators and Freezers Market Size to Exceed USD 1.4 Billion by 2024

Published Date: 2020-09-25         Author: Ronak Bora

The research report on North America Biomedical Refrigerators and Freezers Market provides a comprehensive understanding of the overall market with substantial details including its position in the global economy and its applications across myriad end-users segments. According to the given report... Read More

© 2020 Fractovia. All Rights Reserved