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18.64% CAGR growth by 2023 in Smart Sensors Market | Top Players - ABB LTD., HONEYWELL INTERNATIONAL, EATON CORPORATION, INFINEON TECHNOLOGIES AG, GENERAL ELECTRIC (GE), SIEMENS AG, amongst others

01-11-2019 07:47 PM CET | IT, New Media & Software

Press release from: Market Prognosis

Market Analysis:

North America to Hold the Largest Market Share

North America is expected to dominate the smart sensors market during the forecasted period, owing to the growing demand of IoT and Smart homes. The Growing trend of IoT, and increasing number of connected devices, is fuelling the growth of smart sensor market.

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The “intelligence” component of these sensors differentiates them from other variants in the market. These sensors have evolved from being discrete devices designed to detect specific properties, to fully integrated sensor systems, offering enhanced computing capabilities. There has been a steady shift towards miniaturization of these devices, using MEMS technology. The advent of MEMS (Micro Electrical Mechanical Systems) & on-board intelligence techniques has resulted in technological disruption in the field of smart sensors. Within the next decade, the market for MEMS devices is expected to surpass 1trillion units, per year, globally.

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Market Segments:
Smart Sensors Market is segmented by:
1. Type: Flow Sensors, Humidity Sensors, Occupancy Sensors, Position Sensors, Pressure Sensors, Speed Sensors, Temperature Sensors, Torque Sensors, Touch Sensors, Ultrasonic Sensors, Vibration Sensors, Water Sensors, Others
2. Technology: MEMS, CMOS, Optical Spectroscopy, Others
3. Network Connectivity: Enocean, Wi-Fi, Zigbee, Z-Wave, Others
4. Component: Analog-to-Digital Converter, Digital-to-Analog Converter, Amplifier, Others
5. Application: Aerospace & Defense, Automotive & Transportation, Healthcare, Industrial Automation, Building Automation, Consumer Electronics, Others
6. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market

• August 2017 - Honeywell International launched self-diagnosing sensors to improve performance and safety of Aircraft systems
• August 2017 - Honeywell International launched indoor air-quality monitoring sensor for building owners and consumers
• May 2017 - Analog Devices launched two MEMS Accelerometers in its series of low noise, low drift, low power, three-axis MEMS accelerometers to provide Wireless Condition Monitoring

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About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today's complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

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Email: sales@marketprognosis.com

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