Smart Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Smart Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • December 2021 •
  • 142 pages •
  • Report ID: 6197451 •
  • Format: PDF
The global smart sensor market exhibited strong growth during 2015-2020.

Looking forward, the analyst expects the market to grow at a CAGR of around 15% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

A smart sensor is an electronic device used for receiving inputs from the environment and performing predefined functions through in-built computer resources. It transforms the input into measurable electrical signals, which are processed by the microcontrollers, transceivers and amplifiers to perform the required actions. Smart sensors are integrated with the Internet of Things (IoT) and are used for measuring temperature, mass, speed, pressure and heat. Some of the commonly available smart sensors include touch, image, temperature, motion, pressure and position sensors, which are used for configuration, verification and communication of information. They offer advanced functionalities, such as self-calibration, cloud-support and multiple sensing and computation capabilities. As a result, they are widely used across industries, such as healthcare, defense, electronics and aerospace.

Smart Sensor Market Trends:
Rapid digitization, along with the increasing requirement for industrial automation, is one of the key factors driving the growth of the market. For instance, smart sensors are widely used in automobiles for auto-braking, blind-spot detection, lane departure alerts and safety errors. Moreover, the increasing deployment of smart grids, smart cities and automated forest fire control, snow level monitoring and early earthquake detection systems, are providing a thrust to the market growth. In line with this, the widespread adoption of smart sensors in wearable devices is also contributing to the growth of the market. Various product innovations, such as the development of cost-effective and stick-on or printed sensors, are acting as other growth-inducing factors. These sensors can be attached to devices and labels to measure various physical parameters, such as humidity, temperature and gas. Other factors, including extensive research and development (R&D) activities, along with the implementation of favorable government policies promoting infrastructural development, are anticipated to drive the market toward growth.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global smart sensor market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on type and end user.

Breakup by Type:
Touch Sensor
Image Sensor
Temperature Sensor
Motion Sensor
Position Sensor
Pressure Sensor

Breakup by End User:
Consumer Electronics

Breakup by Region:
North America
United States
South Korea
United Kingdom
Latin America
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Analog Devices Inc., Eaton, Honeywell International Inc., Infineon Technologies AG, NXP Semiconductors, Renesas Electronics Corporation, Robert Bosch GmbH, Siemens AG, STMicroelectronics, TDK Corporation and Texas Instruments Incorporated. Key Questions Answered in This Report:
How has the global smart sensor market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global smart sensor market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global smart sensor market and who are the key players?
What is the degree of competition in the industry?