Smart Sensor Market share to exceed $80bn by 2024

The research report “Smart Sensor Market Size By Product (Temperature & Humidity, Pressure, Motion, Position, Flow, Image, Touch), By Technology (MEMS, CMOS), By Network (Wireless, Wired), By Application (Commercial/Industrial [Retail, Education, Healthcare, Manufacturing, Hospitality], Residential/Smart Homes [Home Security, Energy Management & Climate Control, Lighting, Window & Appliance Control, Audio-Visual & Entertainment, Assisted Living], Consumer Electronics, Automotive, Oil & Gas, Aerospace & Defense), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Taiwan, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024”, by Global Market Insights, Inc. says Smart Sensor Market size is set to exceed USD 80 billion by 2024; driven by rising security risks leading to high demand for advanced smart sensors.

Growing demand for smart electronics & wearable devices in the consumer electronics space is a major factor driving the smart sensor market across the globe. The mounting investments and reductions in development costs for speed & accuracy will be achieved in the coming years through measurement methods with innovative manufacturing technologies, high-tech signal processing methods and high performance. For instance, Notch, a wearable motion tracker app for rebuilding of body and motion structure helps increase performance, enhance movement techniques and reduces injury risks. The app allows movements which are captured by using wireless sensors and are linked to the smartphones.

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Technological advancements since the last few years have led to substantial miniaturization in sensors, making them cost-effective, compatible and efficient, which is anticipated to fuel the smart sensor market growth. The growing implementation of MEMS technology has led to extensive usage in several industries such as aviation, automotive, consumer electronics, and healthcare. Several participants are focusing on environmental safety on account of the rising demand for eco-friendly protection, which is expected to boost the smart sensor market size.

High demand for smart wearable devices and IoT is contributing towards the growth of MEMS technology. The commoditization of the technology is projected to ensure increased usage in other industries such as automotive, industrial, medical, semiconductor and telecommunication. Technological advancements in MEMS technology such as sensor fusion is anticipated to propel the smart sensor market size over the forecast timeframe.

The automotive smart sensor market share is predicted to grow considerably over the next few years. Automatic climate control in vehicles is achieved by using smart sensors which help control the cooling systems and improve passenger comfort. In addition, the products are incorporated within the air-conditioned seats to control humidity and temperature and help reduce the overall energy consumption in the vehicles.

North America dominates the smart sensor market owing to the increasing demand for IoT and smart homes in the U.S. and the presence of major industry players in the region. The APAC smart sensor market is primarily driven by India, Japan and China, mainly due to the developing infrastructure and government initiatives to support projects such as smart cities and homes. India serves as the manufacturing base for various consumer electronics and automotive verticals which will further surge the regional industry demand.

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Smart sensor market players include ABB Group Ltd., Analog Devices, Inc., Atmel Corporation Eaton Corporation PLC, Emerson Electric Company, General Electric, Honeywell International, Inc., Infineon Technologies AG, InvenSense, Inc., Legrand S.A., NXP Semiconductors N.V., Robert Bosch AG, Sensirion AG, Smart Sensors, Inc. and TE Connectivity Ltd.

Companies in the smart sensor market are entering numerous partnerships and agreements such as plant manufacturing partnerships and sales & supply agreements to provide their consumers in an improved manner. In 2016, Analog Devices Inc., announced that the company has signed an agreement with LifeQ for health management applications to improve efficiency of body monitoring devices.

Browse key industry insights spread across 640 pages with 1041 market data tables & 11 figures & charts from this 2017 report Smart Sensor Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/smart-sensor-market

Smart sensor market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume (Unit shipments) and revenue (USD) from 2013 to 2024, for the following segments:

Smart Sensor Market By Product

• Temperature & humidity sensors
• Pressure sensors
• Touch sensors
• Position sensors
• Motion sensors
• Image sensors
• Flow sensors
• Others

Smart Sensor Market By Technology

• MEMS technology
• CMOS technology

Smart Sensor Market By Network

• Wired
• Wireless

Smart Sensor Market By Application

• Commercial/Industrial building
• Retail
• Education
• Healthcare
• Manufacturing
• Hospitality
• Residential building/Smart home
• Home security
• Energy management and climate control systems
• Lighting, window & appliance control systems
• Audio-visual & entertainment systems
• Assisted living
• Consumer electronics
• Automotive
• Oil & gas
• Aerospace & defense

The above information is provided for the following regions and countries:

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• South Korea
• Taiwan
• Latin America
• Brazil
• Mexico
• Middle East
• Saudi Arabia
• UAE
• South Africa

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://gminsights.wordpress.com

Smart Sensor Market share to grow at 18% CAGR from 2016 to 2024

The research report on “Smart Sensor Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024”, Global Smart Sensor Market share to exceed $52 billion by 2024.

The industry is anticipated to witness substantial growth across numerous applications sectors such as automotive, electronics, healthcare and textile.

These products include integrated electronics that perform data conversion, bi-directional communication, decision execution and logical applications. Features such as wireless data transmission, ease of installation, signal conditioning, low cost, low power and small size are predicted to propel smart sensor market size. In addition, rising concern regarding surveillance & security accompanied by rising demand for energy efficient devices is expected to drive revenue in the coming years.

Increasing applications in various industries such as transport & logistics, military, surveillance, and automotive is predicted to positively impact demand. In addition, favourable government initiatives and high reliability offered by these devices is projected to boost consumption. Notable growth barriers include smart sensor market price trend, and the lack of privacy as well as complex structure.

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The industry is segmented on the basis of product into image, pressure, level, and position sensors. Network connectivity is segregated into wired and wireless network. Automotive, industrial, energy & power, healthcare, logistics and agriculture are the major application segments. The healthcare sector is anticipated to offer significant growth opportunities owing to massive implementation of these products. Micro-sensor implants are expected to track the healing process for internal injuries by 2020. In the same year, it is also likely to alarm healthcare professionals to take remedial actions based on continual data. Resulting in precision agriculture, these devices help determine the amount of water required across different parts of the field in order to conserve resources and increase yield.

Vibration powered microscopic devices monitor battlefield activities, structural strength of buildings and clogged arteries. Rising R&D is forecast to augment growth in sensing biohazards, material stress, smell, pathogens, level of corrosion and chemicals in material. Limited bandwidth, stringent performance requirements for advanced applications, and lack of computational framework will act as a challenge to industry growth.

Asia Pacific smart sensor market share is expected to witness high growth prospects, owing to rising demand for tablets, notebooks and smartphones, across the region. Furthermore, rising investment in wireless technology may drive revenue. Evolution of growing energy conservation needs across counties such as China, India, South Korea, and Japan is predicted to impact positive regional growth over the forecast timeframe.

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Europe smart sensor market is projected to experience considerable growth due to presence of leading automobile manufacturers such as Volkswagen, BMW and Mercedes-Benz. For instance, Mercedes-Benz uses a wide range of smart sensors for its technologies such as magic body control, lane assist and park assist feature. In 2015, BMW has launched its new series which is equipped with automatic parking technology. This technology is likely to be implement in medium-budget vehicles over the next few years.

U.S. smart sensor market share is leading the industry and is also expected to continue its dominance over the forecast period due to early adoption paired with growing demand for smart homes. National Renewable Energy Laboratory (NREL) has developed a low-cost detector, which increases the accuracy of detecting people upto 90%. This has lead to enormous energy savings in commercial buildings to control lighting and reduce energy costs.

Autonomous (autopilot) driving technologies are being developed by Google and Tesla. ABB Ltd has developed a compact wireless sensor for low voltage induction motor which reduces motor downtime by upto 70%, extend lifetime by 30% and lower the consumption by 10%. It relays information about the motor’s health, via smartphone and over the internet, to a secure server. The solution would be initially launched in North America and would further be available for other regions.

Key industry participants dominating smart sensor market size are Analog Devices, Infineon Technologies, STMicroelectronics N.V., Atmel Corporation, NXP Semiconductors N.V., Honeywell, General Electric, ABB Ltd., Invensense Inc., Robert Bosch GmbH, Legrand SA, Sensirion AG, Emerson and Eaton.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde

Corporate Sales, USA

Global Market Insights, Inc.

Phone: 1-302-846-7766

Toll Free: 1-888-689-0688

Email: sales@gminsights.com

Web: https://www.gminsights.com

Blog: https://gminsights.wordpress.com

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