Smart Sensors Market is Expected to Exceed US$ 72.39 Billion by 2023, growing at a CAGR of 18.64% | ABB, Honeywell, Eaton, Analog Devices, Infineon Technologies AG, NXP Semiconductors NV, STMicroelectronics, Siemens AG

Marketprognosis.com Publish a New Market Research Report On “Global Smart Sensors Market 2018 - 2023” which contains global key player’s survey information and forecast to 2023.

Overview of the Global Smart Sensors Market:

The Global Smart Sensors Market was valued at USD 25.96 Billion in 2017, and is forecasted to reach USD 72.39 Billion by the end of 2023, with a CAGR of 18.64% during the forecast period (2018 - 2023).

The scope of this report is limited to the type of smart sensors, such as flow, humidity, occupancy, position, pressure, speed, temperature, torque, touch, ultrasonic, vibration, and water, technologies used in smart sensors, such as mems, cmos, and optical spectroscopy, network connectivity used by smart sensors, such as enocean, wi-fi, zigbee, and z-wave, components of smart sensors, such as analog-to-digital converter, digital-to-analog converter, and amplifier, and applications of smart sensors, such as aerospace & defense, automotive & transportation, healthcare, industrial automation, building automation, and consumer electronics. The regions considered in the scope of the report include - North America, Europe, Asia-Pacific, Latin America and The Middle East & Africa.

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Over the last few decades, smart sensors have evolved to become fully integrated sensor systems, from discrete analog devices. Originally, they performed simple functions, like converting impulses into electrical energy. However, rapid advancements in technology have led to the emergence of miniaturized versions of smart systems with enhanced reliability and sensitivity metrics. The smart sensors offer sensing and computing capabilities in a single device. The size of these sensors is rapidly diminishing, with changes in nanotechnology and material science. Silicon is the most used material in the manufacturing of smart sensors. Silicon-based miniaturization techniques offer better integration capabilities. Since, smaller versions of sensors are more flexible, they can be embedded in a variety of devices to obtain real time information.

The advent of MEMS (Micro Electrical Mechanical Systems) & on-board intelligence techniques has resulted in technological disruption in the field of smart sensors. MEMS comprise of three-dimensional structures, designed using micro-fabrication techniques. They enable the development of micron-sized sensors that can effectively interact with external environment. MEMS can be used to develop a wide variety of smart sensors, ranging from simple arrangements to high-end systems with multi-sensor capabilities, through the use of integrated microelectronics. Within the next decade, the market for MEMS devices is expected to surpass 1trillion units, per year, globally. MEMS-based smart sensors include equipment, like accelerometer, magnetometer, pressure sensors, environmental sensors, and many more.

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North America is expected to dominate the smart sensors market during the forecasted period, owing to the growing demand of IoT and Smart homes. IoT can be defined as an environment where various objects are connected to each other, through internet. Sensors embed IoT functionality into a wide range of systems and objects. The Growing trend of IoT, and increasing number of connected devices, is fuelling the growth of smart sensor market. Also, the emergences of new technologies, such as Zigbee, that work on inexpensive batteries, aid the growth of smart sensors. The overall demand for smart homes is forecasted to grow rapidly, owing to strong consumer interest, incremental technological innovations, and greater accessibility.

Major Key Players:

1 ABB Ltd

2 Honeywell International

3 Eaton Corporation

4 Analog Devices, Inc.

5 Infineon Technologies AG

6 NXP Semiconductors N.V.

7 STMicroelectronics

8 Siemens AG

9 TE Connectivity Ltd and More…………….

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This study answers to the below key questions:

1 What will the market size be in 2023 and what will the growth rate be?

2 What are the key market trends?

3 What is driving this market?

4 What are the challenges to market growth?

5 Who are the key vendors in this market space?

6 What are the market opportunities and threats faced by the key vendors?

7 What are the strengths and weaknesses of the key vendors?

In the end, this report covers data and information on capacity and production overview, production, market share analysis, sales overview, supply, sales, and shortage, import, export and consumption as well as cost, price, revenue and gross margin of Smart Sensors Market.

Table of Contents:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Key Inferences

5 Market Overview

6 Drivers, Restraints, Opportunities and Challenges Analysis (Droc)

7 Market Segmentation

8 Competitive Landscape

9 Key Players

10 Future Outlook of the Market

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