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The global smart sensor market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 15% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A smart sensor is an electronic device used for receiving inputs from the environment and performing predefined functions through in-built computer resources. It transforms the input into measurable electrical signals, which are processed by the microcontrollers, transceivers and amplifiers to perform the required actions. Smart sensors are integrated with the Internet of Things (IoT) and are used for measuring temperature, mass, speed, pressure and heat. Some of the commonly available smart sensors include touch, image, temperature, motion, pressure and position sensors, which are used for configuration, verification and communication of information. They offer advanced functionalities, such as self-calibration, cloud-support and multiple sensing and computation capabilities. As a result, they are widely used across industries, such as healthcare, defense, electronics and aerospace.
Rapid digitization, along with the increasing requirement for industrial automation, is one of the key factors driving the growth of the market. For instance, smart sensors are widely used in automobiles for auto-braking, blind-spot detection, lane departure alerts and safety errors. Moreover, the increasing deployment of smart grids, smart cities and automated forest fire control, snow level monitoring and early earthquake detection systems, are providing a thrust to the market growth. In line with this, the widespread adoption of smart sensors in wearable devices is also contributing to the growth of the market. Various product innovations, such as the development of cost-effective and stick-on or printed sensors, are acting as other growth-inducing factors. These sensors can be attached to devices and labels to measure various physical parameters, such as humidity, temperature and gas. Other factors, including extensive research and development (R&D) activities, along with the implementation of favorable government policies promoting infrastructural development, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart sensor market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on type and end user.
Breakup by Type:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Analog Devices Inc., Eaton, Honeywell International Inc., Infineon Technologies AG, NXP Semiconductors, Renesas Electronics Corporation, Robert Bosch GmbH, Siemens AG, STMicroelectronics, TDK Corporation and Texas Instruments Incorporated.
|Base Year of the Analysis||2020|
|Segment Coverage||Type, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||ABB Ltd., Analog Devices Inc., Eaton, Honeywell International Inc., Infineon Technologies AG, NXP Semiconductors, Renesas Electronics Corporation, Robert Bosch GmbH, Siemens AG, STMicroelectronics, TDK Corporation and Texas Instruments Incorporated.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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