Global Smart Sensor Market Analysis by 2024 Key Player: Arm Holdings PLC., Omron Corporation, Infineon Technologies AG, Texas Instruments Incorporated, NXP Semiconductors, Broadcom, TE Connectivity Sensirion Holding AG

Market Overview: -

Smart Sensor Market set to reach USD 80 billion by 2024. Smart sensors are advanced platforms that enable automated collection of environmental data with the help of microprocessors and connectivity tools embedded in them. These devices are being used for monitoring applications such as smart grids. The increasing investment by the government on smart city development is one of the major drivers for the growth of the smart sensor market. The implementation of smart technology as a part of the country’s infrastructure has accelerated the demand for smart sensors.

For instance, in 2015 smart city initiative was announced by the White House for managing traffic congestion and improve city services by integrating IoT technology. To make cities more efficient, more than USD160 million in federal research was pledged by the U.S. government. Developing nations, such as India, are also investing in smart city development. In 2015, the government of India allocated USD1.27 billion funds for the development of 100 smart cities. This is augmenting the smart sensor market globally.

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Top Key Players: -

Arm Holdings PLC., Omron Corporation, Infineon Technologies AG, Texas Instruments Incorporated, NXP Semiconductors, Broadcom Inc. (Avago), TE Connectivity Ltd., Sensirion Holding AG are the major companies in smart sensor market.

Market share calculation in this report is not done based on companies covered in it. The calculation of smart sensor market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentations: -

North America is the major region of smart sensor market growth. This is due to the extensive R&D investments in smart city developments and the presence of numerous IoT companies. For instance, in August 2016, OMRON introduced human vision component sensing unit for identifying gender, age, human facial expression, gaze, and blink into a camera module. This is projected to fuel the smart sensor market for the forecast period.

Talking about the geographical aspect, Asia Pacific is projected to have a strong foothold in smart sensors market over the coming years. The appreciable economic development of APAC countries such as China, India, and Japan, expanding consumer electronics industry, and efforts toward sustainable energy are the factors driving APAC smart sensor market growth over the years to come.

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Partial Chapter of the Table of Content

Chapter 1 Methodology & Scope
1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Definition and forecast paramters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary
Chapter 2 Executive Summary
2.1 Smart sensors industry 3600 synopsis, 2013 – 2024
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Technology trends
2.1.4 Network trends
2.1.5 Application trends
2.1.6 Regional trends
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

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Technological advancements in sensor technology have furthermore propelled the smart sensor market. The developments in microprocessors and integrated chips have led to the miniaturization of sensors. This has resulted in the increasing demand for smart sensors across various applications. Smart sensors are used for communication, multi-sensing, computation of extreme weather, and self-calibration.

Moreover, developments are in progress that intend to build a sensor that will have the ability to sense an entire house or building. The improvements in wireless technology have made it possible to fix the sensor anywhere without the complications of handling any type of wire. Affordable wireless sensors have penetrated the market that have contributed immensely to the growing smart sensor market.

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