Press release
Smart Sensor Global Market Analysis, Trends, Growth, Research And Forecast 2033
Smart Sensor Global Market
As per the report, the smart sensor market size has grown rapidly in recent years. It will grow from $50.94 billion in 2023 to $59.42 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The smart sensor market size is expected to see rapid growth in the next few years. It will grow to $108.67 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%.
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Consumer Electronics Fueling The Surge In Smart Sensor Market Growth
Growing demand for consumer electronics is expected to drive the smart sensor market going forward. Consumer electronics refers to any electronic equipment, gadgets, or devices made to be purchased and regularly used for non-commercial or professional purposes by consumers. Consumer electronics can create demand for smart sensors as they use various intelligent sensors to perform predetermined tasks to reduce time and operational costs. For instance, in June 2021, Oberlo, a Lithuania-based e-commerce platform, said globally 6.4 billion people use smartphones. Therefore, the growing demand for consumer electronics is propelling the smart sensor market.
Mems Technology Dominates Smart Sensor Trends
The penetration of MEMS technology in smart sensors is a key trend in the smart sensor market. Major players are focusing on creating innovative MEMS technologies to sustain their position in the smart sensor market. For instance, in January 2022, TDK Corporation, a Japan-based electronic devices and components manufacturing company, launched BalancedGyroTM (BG) technology. BalancedGyro technology is a gyroscope MEMS architecture that provides the best temperature stability and vibration rejection performance. This technology is used in smartphones, robotics, virtual reality, drones, and flight controllers.
The smart sensor market covered in this report is segmented -
1) By Type: Touch Sensors, Flow Sensors , Smart Temperature Sensor, Smart Position Sensor, Turbidity Sensor
2) By Components: Digital-To-Analog Converter, Analog-To-Digital Convertor, Amplifier, Other Components
3) By Technology: CMOS, MEMS, Optical Spectroscopy, Other Technologies
4) By End-Users: Automotive, Consumer Electronics, Infrastructure, Healthcare, Other End-Users
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Major companies operating in the smart sensor market report are Murata Manufacturing Co. Ltd., Skyworks Solutions Inc., Qorvo Inc., Broadcom Inc., NXP Semiconductors N.V., Analog Devices Inc., MACOM Technology Solutions Holdings Inc., STMicroelectronics N.V., Communications & Power Industries LLC, National Instruments Corporation (now part of NI), Infineon Technologies AG, Texas Instruments Inc., Mitsubishi Electric Corporation, Renesas Electronics Corporation, RFHIC Corporation, ON Semiconductor Corporation, Maxim Integrated Products Inc., Microchip Technology Inc., Renesas Electronics Corporation, Silicon Laboratories Inc., L3Harris Technologies, Mini-Circuits, Qorvo, TTM Technologies Inc., Kyocera Corporation, Johanson Technology Inc., TransDigm Group Inc., Yageo Corporation, Taiyo Yuden Co. Ltd., Vishay Intertechnology Inc.
Contents of the report:
1. Executive Summary
2. Smart Sensor Market Report Structure
3. Smart Sensor Market Trends And Strategies
4. Smart Sensor Market - Macro Economic Scenario
5. Smart Sensor Market Size And Growth
…..
27. Smart Sensor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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