Hermetic Packaging Market Revenue to Cross $77,747.6 million by 2028: The Insight Partners

According to the new research report published by The Insight Partners, titled "Smart Sensor Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Technology (MEMS, CMOS, and Others), Type (Temperature and Humidity Sensors, Pressure Sensors, Motion, and Others), and End-use Industry (Consumer Electronics, Automotive, Healthcare, Manufacturing, Retail, and Others)', extensive uptake of smart sensors in IoT-Based devices and consumer electronics is driving the growth of the smart sensor market.

The smart sensor market is expected to grow from US$ 31,731.1 million in 2021 to US$ 77,747.6 million by 2028. It is estimated to grow at a CAGR of 13.7% between 2021 to 2028.

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The Internet of Things (IoT) has accelerated the evolution of smart sensor market to new heights. With the industry 4.0-powered cyber-physical transformation of manufacturing industries, many production facilities are taking up smart sensors. IoT platforms use a variety of sensors to deliver intelligence and data, allowing devices to function autonomously and the entire ecosystem to become more intelligent. Devices share information and improve their efficiency and functionality by combining sensors and a communication network. The demand for IoT is growing in various industrial verticals, which, in turn, is supporting the the smart sensor market growth.

Smart sensors are well-suited to safety-critical applications, such as gas detection, fire detection, and intruder detection. Simply attach to a suitable surface (portable surface), such as a desk, wall, or door, and wirelessly transmit data to the cloud, making them easy to install and retrofit into existing structures. They are eco-friendly because they use low-power wireless technology and are self-powered, use ultra-long-life batteries, power over ethernet (PoE), or are mains-powered, eliminating the need to keep replacing batteries. Smart sensors have advantages, such as high reliability, withstand in a rugged environment, flexibility in size, and weight requirements which in turn have positive impact on smart sensor market size.

The demand for motion sensors in smart TVs is high. Many companies are investing in smart sensor market with the rising demand for consumer electronics. Multi-communication interfaces, such as Wi-Fi, Bluetooth, near-field communication (NFC), and cellular communication features are provided by smart TV manufacturers. They also have embedded operating systems (OSs). For instance, the Samsung Smart control in the H series makes it simple to operate the TV and navigate the menu options. The Samsung smart control's motion sensor (gyro sensor) allows its movement and easily controls the TV by holding it after a pointer appears on the screen when a finger is placed on the touchpad. The pointer moves similarly on the control when the Samsung Smart Control is held in hand and moved around. On scrollable screens, it can also scroll up and down.

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Smart sensor technology has led to rapid technological advancements in smartphones and wearable devices. Automobile manufacturers are increasingly demanding smart sensors to improve safety and comfort. The use of wireless technology to monitor and control security devices equipped with smart sensors is becoming more common. Amid COVID-19, the surge in demand for smart sensor-enabled wearable devices, ongoing government support for green building construction, and predictive maintenance are offering lucrative opportunities for the smart sensor market players.

The rise in smartphone penetration has been substantially fuelling the smart sensor market growth. Smart sensors include popular sensors, such as motion, position, ambient light, accelerometer, and gyroscope. Specific Absorption Rate (SAR) sensors enhance connectivity for a wide range of wireless technologies, such as 5G sub-6/4G/Wi-Fi in smartphones, tablets, and laptops. SEMTECH, a leading semiconductor supplier, offers PerSeTM Connect, PerSe Connect Pro, and PerSe Control sensors, which can be used in various applications, such as smartphones, laptops, tablets, and wearables.

Many companies are developing new and advanced smart sensors that combine microcontrollers in a single package. Modern technologies, such as AI (Artificial Intelligence) and IoT, enable this combination within small packaging. For instance, Bosch Sensortec's BHA250 can combine a 32-bit microcontroller with a 14-bit acceleration sensor in a 2.2 x 2.2 x 0.95 mm3 package. Further, the TE Connectivity company has integrated sensors with connectors to pack functionality into a small space. These developments in smart sensor technology are positively impacting the smart sensor market growth. With the growth in the consumer electronic industry, such as in smart beverage vending machines, smart home automation systems, simple computers, digital assistants (such as Alexa), and human wearable devices, the demand for smart sensors has increased in the smart sensor market. Traditional consumer products, such as laptops, smartphones, and televisions, continue to exceed expectations as consumers continue to adopt new and emerging products, including wearables, voice-activated smart speakers, and smart home devices.

Hermetic Packaging Market: Competitive Landscape and Key Developments
NFC IC: Broadcom, NXP; GPS (GNSS) IC: Qualcomm, Broadcom; and Accelerometer IC: STMicroelectronics, MYTHINGS Smart Sensor, XENSIVETM are among the key players in the global Hermetic Packaging market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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Smart Sensor Market Segmentation
Based on technology, the smart sensor market is segmented into MEMS, CMOS, and Others. In 2021, the MEMS segment led the market. Based on type, the smart sensor market is segmented into temperature & humidity sensors, pressure sensors, motion sensors, position sensors, and others. In 2021, the temperature & humidity sensors segment accounted for the largest market share. Based on end-use industry, the smart sensor market is segmented into consumer electronics, automotive, healthcare, manufacturing, retail, and others.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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