Global Smart Sensors Industry

Global Smart Sensors Industry

  • September 2020 •
  • 166 pages •
  • Report ID: 98271 •
  • Format: PDF
Global Smart Sensors Market to Reach $105.8 Billion by 2027

Amid the COVID-19 crisis, the global market for Smart Sensors estimated at US$39.2 Billion in the year 2020, is projected to reach a revised size of US$105.8 Billion by 2027, growing at a CAGR of 15.3% over the analysis period 2020-2027. Smart Flow Sensors, one of the segments analyzed in the report, is projected to record a 14.2% CAGR and reach US$44.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Smart Pressure Sensors segment is readjusted to a revised 16.8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $11.6 Billion, While China is Forecast to Grow at 14.7% CAGR

The Smart Sensors market in the U.S. is estimated at US$11.6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$18.5 Billion by the year 2027 trailing a CAGR of 14.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.4% and 13.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.3% CAGR.

Smart Temperature Sensors Segment to Record 16% CAGR

In the global Smart Temperature Sensors segment, USA, Canada, Japan, China and Europe will drive the 15.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.3 Billion in the year 2020 will reach a projected size of US$9.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$12.8 Billion by the year 2027.We bring years of research experience to this 19th edition of our report. The 166-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others,
  • ABB
  • Analog Devices Inc.
  • Delphi Automotive Plc
  • Eaton Corporation Plc
  • Honeywell International, Inc.
  • Infineon Technologies AG
  • NXP Semiconductors
  • Omron Corp.
  • Raytek Corp.
  • Robert Bosch GmBH
  • Schneider Electric SE
  • Sensata Technologies Inc.
  • Siemens AG
  • Smart Sensors Inc.
  • Vishay Intertechnology Inc.
  • Yokogawa Electric Corp.