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Smart Sensor Market by Emerging Trends and Future Opportunities Till 2024

Author : Ronak Bora | Published Date : 2020-08-28 

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.

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.

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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.

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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 4   Smart Sensor Market, By Product

4.1    Smart sensors market by product, 2015 & 2024

4.2    Temperature and humidity sensors

4.3    Pressure Sensors

4.4    Touch Sensors

4.5    Position Sensors

4.6    Motion Sensors

4.7    Image Sensors

4.8    Flow Sensors

4.9    Others

4.10   Smart sensors market penetration, 2016

Chapter 5   Smart Sensors Market, By Technology

5.1    Smart sensors market share by technology, 2015 & 2024

5.2    MEMS Technology

5.3    CMOS Technology

5.4    Others

Chapter 6   Smart Sensor Market, By Network

6.1    Smart sensors market share by network, 2015 & 2024

6.2    Wired

6.3    Wireless

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.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

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