Press release
Global Smart Sensors Market By Growth Revenue, Future Trends and Leading Players: ABB, Analog Devices, Atmel, Eaton, Emerson Electric, General Electric, Honeywell, Infineon, InvenSense, Legrand S.A., Robert Bosch, Sensirion, Smart Sensors
Smart Sensor Market
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.
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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.
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.
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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.
APAC smart sensor market size is anticipated to grow significantly due to the growing establishment of manufacturing industries and rapid industrialization. Strong economic development across China, India and Japan is helping to contribute to the global revenue. The consumer inclination towards energy conservation and wireless technology has augmented adoption in the energy management or monitoring devices. The capabilities such as self-diagnosis and self-calibration will also fuel the regional growth.
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.
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