Press release
Smart Sensor Market – Competitive Landscape & Product Benchmarking 2016-2024
Global Smart Sensor Market is anticipated to grow at a CAGR of over 17% to reach USD 80 billion by 2024. Advancements in consumer electronics coupled with favourable government initiatives is anticipated to drive the smart sensors industry growth over the forecast timeline. Increasing government spending on these technologies and the declining price trend is expected to fuel the overall industry demand.
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Increasing adoption of miniaturization trend by the manufacturers to provide several functionalities in a single chip offer significant growth opportunity for the smart sensor market growth. Growing trends such as smart cities and smart homes across the globe provide impetus to the demand for smart sensors over the forecast timeline. Pertaining to the features such as reducing carbon emission levels, these sensors have witnessed huge adoption in the power plants for efficient operation of various processes.
Innovative manufacturing technologies coupled with high tech signal processing and enhanced performance, is expected to contribute to reduction in development costs of these products. For instance, motion tracker application, Notch, helps optimizing the performance, improved movement related techniques and lower the injury rate. The application is linked to the smartphone and enables movement captured by the wireless sensors. With the growing demand for eco-friendly protection, industry players are concentrating more on environmental safety propelling the smart sensor market growth across the globe.
Development in industrial robotics followed by the rising adoption in aerospace and automotive industry is expected to boost the demand for smart position sensors over the forecast timeline. The gradual rise in demand for mobile devices such as smartphones and tablets integrated with enhanced touch enabled displays will drive the demand for touch sensors demand.
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.
Browse key industry insights spread across 640 pages with 1041 market data tables & 11 figures & charts from the 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” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/smart-sensor-market
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 Content (TOC-)
Chapter 3 Smart Sensors Industry 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 related report:
https://www.gminsights.com/pressrelease/carsharing-market
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.
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