Smart/Intelligent Sensors Market Growing Steadily with Improving Technology

Smart/Intelligent sensors, which are smaller and more diversely functional than ever before, are rapidly growing in importance in such diverse applications as healthcare monitoring, automotive application, collision prevention, and oil platforms.

Using an easily comprehensible chapter-wise layout augmented with an array of tables and graphs, the report systematically examines the data regarding the global smart/ intelligent sensors market.

The report also analyzes growth drivers, inhibitors, opportunities, and the value chain of the smart/intelligent sensors market. Further, the report analyzes the various product types and applications of smart/intelligent sensors on a regional and global basis.

The report makes extensive use of primary and secondary sources of information and industry-centric tools and research techniques for the purpose of the study. The report serves as a valuable asset for business and investment planning, competitive analysis, and scope of growth for manufacturers, suppliers, and wholesalers in the smart/intelligent sensors market.

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Driven by incessant sales of electronic devices and automobiles, the global smart/ intelligent sensors market, valued at US$ 9.0 billion in 2012, is expected to reach US$21.60 billion by 2019 at a CAGR of 12.2% from 2013 to 2019.

Technological advancement and growing demand for electronic devices with advanced features is currently driving the market for smart/ intelligent sensors. In current times, smart/intelligent sensors are an integral part of handheld electronic devices, cars, and medical equipment that offers advanced features. Additionally, smart/intelligent sensors have widespread application for transportation, logistics, and infrastructure. Further, the increasing demand for smart sensors in defense and other security agencies is also a major driver of the market.

Owing to their large application base, smart/intelligent sensors are available in various types such as smart pressure sensors, image sensors, smart temperature sensors, touch sensors, and others.

By regional distribution, Europe exhibited the highest demand for smart/ intelligent sensors in 2012 on account of high standards for healthcare in the region. This was followed by North America on account of high demand for consumer electronics and advanced medical devices in the region. Additionally, other applications such as avionics, infrastructure, and industrial are further driving the demand for smart/intelligent sensors in the region.

Although the smart/ intelligent sensors market looks promising for growth opportunities, cost factors and the global economic recession is posing a threat to the market. These factors restrict the funding granted to research and development activities in the field.

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Geographically, Europe held the largest share in the smart/intelligent sensors market in 2012. The demand for smart sensors in Europe is primarily driven by the medical industry that has set high standards in the field of health care. Some of the automobile manufacturers based in Europe are supporting the demand for smart/intelligent sensors in the region. Some of the Europe based automobile manufacturers are Volkswagen, Toyota, BMW, Ford and Renault among others.

North America followed Europe in terms of geographical market share. The growth in the region is attributed to the growing demand of consumer electronics and advanced medical equipments in the region. The market in this region is also supported by the automobile industry which has set strict regulations related to cars. Additionally, other end user segments such as infrastructure, industrial and avionics among others are also contributing to the growth of the smart/intelligent sensors in the region.

Smart/intelligent sensors market is highly fragmented. Custom Sensors & Technologies, Inc., ABB Ltd., Delphi Automotive LLP, Analog Devices, Inc., Eaton Corp., Honeywell International, Inc., Emerson Process Management, Invensys plc, Oceana Sensor Technologies, Robert Bosch GmBH, Meggitt Sensing Systems, Siemens AG and Yokogawa Electric Corporation among others are some of the key players in the smart/intelligent sensors market.

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