Global Smart Sensors Market, By Sensor Type (Temperature and Humidity Sensors, Flow Sensors, Touch Sensors, Image Sensors, Motion and Occupancy Sensors, Water Sensors, Light Sensors, Position Sensors and Ultrasonic Sensors), Technology (MEMS, CMOS, SiP, SoC and Other Technology), Component (Analogue To Digital Converters (ADCs), Digital To Analogue Converters (DACs), Transceivers, Amplifiers, Microcontrollers and Others), Network Connectivity (Wired and Wireless), End Users (Industrial Automation, Biomedical and Healthcare, Consumer Electronics, Building Automation, Automotive, Aerospace and Defence and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Rising demand for safety and monitoring solution has led to the rise in demand fir smart sensors globally. Data Bridge Market Research analyses that the smart sensors market will exhibit a CAGR of 19.12% for the forecast period of 2021-2028. This means that the smart sensors market value would stand tall by USD 171.11 billion by the year 2028.
Smart sensors are intelligent sensors that enable better control and monitoring of varied environmental operations. In other words, smart sensors take in input from the external environment and then perform predefined functions by using built-in compute resources. Smart sensors are used in a wide range of applications such as the detection of heat, light, pressure, and motion.
Escalating demand for smart sensors by the various end-user verticals will induce growth in the smart sensors market value. Rising security and safety concerns will further foster growth in demand for smart sensors globally. Rising internet penetration coupled with increased adoption of the internet of things will further create lucrative growth opportunities for the smart sensors market. Rising investment in research and development proficiencies in this direction will indirectly promote the growth of the market.
However, fluctuations in the prices of semiconductor raw materials will pose a big-time challenge to the smart sensors market growth. High prices of sensors, as a result, will then restrict the smart sensors market scope of growth. The complex structure and composition of smart sensors over traditional sensors will further restrict the market scope of growth.
This smart sensors market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on process smart sensors market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Sensors Market Scope and Market Size
The smart sensors market is segmented on the basis of sensor type, technology, component, network connectivity and end users. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
On the basis of sensor type, the smart sensors market is segmented into temperature and humidity sensors, flow sensors, touch sensors, image sensors, motion and occupancy sensors, water sensors, light Sensors, position sensors and ultrasonic sensors. Temperature and humidity sensors are further sub-segmented into thermocouples, thermistors, resistance temperature detectors, IR sensors, other types of temperature sensor, pressure sensors, capacitive, electromagnetic, resonant solid state and optical. Touch sensors are also further sub-segmented into capacitive, resistive and infrared. Motion and occupancy sensors are sub-segmented into smart motion sensors and smart occupancy sensors. Water sensors are sub-segmented into turbidity sensors, PH sensors, soil moisture sensors, level sensors and dissolved oxygen (DO2) sensors. Light sensors are sub-segmented into analogue and digital and positions sensors are sub-segmented into linear, rotary and proximity.
- On the basis of technology, the smart sensors market is segmented into MEMS, CMOS, SiP, SoC and other technology. Other technology segment is further sub-segmented into optical spectroscopy, microsystem technology (MST), integrated smart sensors, IC-compatible 3D micro-structuring and ASIC.
- On the basis of component, the smart sensors market is segmented into analogue to digital converters (ADCs), digital to analogue converters (DACs), transceivers, amplifiers, microcontrollers and others.
- On the basis of network connectivity, the smart sensors market is segmented into wired and wireless. Wireless is further sub-segmented into bluetooth, enocean, Wi-Fi, zigbee, Z-wave and others.
- On the basis of end users, the smart sensors market is segmented into industrial automation, biomedical and healthcare, consumer electronics, building automation, automotive, aerospace and defence and others. Consumer electronics is further sub-segmented into communication and IT, entertainment, home appliances and wearable electronics. Building automation is also further sub-segmented into access control, radio frequency identification (RFID), security and surveillance, lighting source, heating ventilation and air conditioning (HVAC) and others.
Smart Sensors Market Country Level Analysis
The smart sensors market is analysed and market size, volume information is provided by country, sensor type, technology, component, network connectivity and end users as referenced above.
The countries covered in the smart sensors market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific is set to undergo the highest compound annual growth rate during the forecast period owing to the growth and expansion of various end user verticals such as automotive industries, consumer electronics, and healthcare among others. Rising technological adoptions coupled with increased focus by the government to develop the infrastructure will further fuel up the demand for smart sensors in this region.
The country section of the smart sensors market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Sensors Market Share Analysis
The smart sensors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the smart sensors market.
The major players covered in the smart sensors market report are STMicroelectronics, Infineon Technologies AG, Microchip Technology Inc., Analog Devices, Inc., TE Connectivity., Eaton., Honeywell International Inc., NATIONAL INSTRUMENTS CORP., Emerson Electric Co., ABB, Siemens, Robert Bosch GmbH, TDK Corporation., General Electric, Vishay Intertechnology, Inc., Legrand., Balluff Automation India Pvt. Ltd., Airmar Technology Corp., MEMSIC Semiconductor (Tianjin) Co., Ltd. (c)., Sensirion AG Switzerland and Renesas Electronics Corporation. among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.