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Smart/Intelligent Sensor Market: Size, Opportunities, Challenges, Trends and Growth by 2023
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Due to the advancement in microelectronics, telecommunications, data analysis, and sensor manufacturing techniques, new possibilities have been opened up for using smart sensors in the digital health ecosystem, to achieve a range of health outcomes. The size of conventional sensors and front-end electronics has made it very difficult to be used in the wearable technology, for to the purpose of capturing movement, and physiological data. However with microcontroller functions, miniature circuits, wireless data transmission, and front-end amplification, smart sensors can be used in the digital health monitoring systems.
North America dominates the global smart sensors market, followed by Europe; which is due to the high adoption rate, and proper consumer awareness in the region. In addition, increasing incidences of chronic diseases, and eagerness to adopt new technology, is also supporting the growth of the smart sensor market, in the region. In Asia-Pacific, Australia is witnessing fastest growth in the smart sensors market, owing to high interest of Australian consumers, for buying the latest gadgets, even at high price.
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On the basis of type, the smart sensor market can be categorized, as oxidation reduction potential sensor, dissolved oxygen sensors, pressure sensors, flow sensors, temperature sensors, turbidity sensors, touch sensors, and pH sensors. The smart sensor market can also be categorized on the basis of technology, as micro electro mechanical systems (MEMs) technology, complementary metal oxide semiconductor technology, and optical spectroscopy.
The increased use of smart sensors in counter terrorism applications, such biometrics and cargo tracking is supporting its growth. Some of the factors restraining the growth of the smart sensor market are high deployment cost, absence of customization, and complex nature of smart sensor.
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Some of the competitors in the smart sensor market are Eaton Corporation, Honeywell International Inc., Airmar Technology Corporation, ABB Ltd., Nanjing IOT Sensor Technology Co. Ltd, Freescale Semiconductor Inc., Analog Devices Inc., Vishay Intertechnology Inc., Smart Sensors Inc., Colibrys Ltd., Siemens AG, Banpil Photonics Inc., Infineon Technologies AG, Sensirion AG, Comus International Inc., Oceana Sensor Technologies Inc., and Gira Giersiepen GmbH & Co. KG.
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