Market Research Report
Global Smart Sensors Market Research Report Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023
|Published by||Occams Business Research & Consulting Pvt. Ltd.||Product code||557019|
|Published||Content info||190 Pages
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|Global Smart Sensors Market Research Report Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023|
|Published: September 7, 2017||Content info: 190 Pages||
Smart sensors have built-in computing resources to process the data which is derived from the physical environment. The global smart sensor market is expected to rise at a CAGR of 18% during the forecast period 2016-2023. Rising penetration of smart phones contributes majorly to the growth of the global smart sensors market. Rising demand of smart sensors for consumer electronics also fuels growth in the global smart sensor market during the forecast period. However, high cost of development and complex structure of smart sensors than traditional sensors are the factors restraining the growth of global smart sensors market during the forecast period.
Geographically, North America accounted for the largest market share in terms of revenue for the smart sensors market in 2016 followed by Europe. North America is expected to dominate the smart sensors market during the forecast period due to rising demand for smart homes and Internet of Things in United States. Asia Pacific is expected to be the fastest growing region during the forecast period due to increasing demand for smart sensors from end user industries.
The growth in global smart sensors market is also influenced by the presence of major players such as Qualcomm Inc. (U.S.), Analog Devices, Inc. (U.S.), NXP Semiconductors N.V. (Netherlands), Atmel Corporation (U.S.), Infineon Technologies (U.S.) etc. Product launches, mergers & acquisitions etc. are some of the strategies which are adopted by the major market players to gain competitive advantage.
Global smart sensors market report covers segmentation analysis of type, technology, component, network connectivity and end users. Report further covers segments of type which includes flow sensors, image sensors, light sensors, motion & occupancy sensors, position sensors, pressure sensors, temperature & humidity sensors, touch sensors, ultrasonic sensors, water sensors and other sensors. Pressure sensors are expected to dominate the market during the forecast period due to its diverse disciplines its application in thermodynamics, fluid mechanics, and aerodynamics for measuring and monitoring pressure. Technology in smart sensors includes CMOS-based smart sensors, MEMS-based smart sensors and other technologies. Moreover, components of smart sensors include amplifiers, Analog to Digital Converters (ADCs), Digital to Analog Converters (DACs), microcontrollers, transceivers and other components. Furthermore, end users adopting smart sensors include aerospace & defense, automotive, biomedical & healthcare, building automation, consumer electronics, industrial automation and other end users. Consumer electronics is expected to dominate the market during the forecast period due to technological developments such as reduction in the size of sensors as well as adoption of MEMS technology. Also, network connectivity in smart sensors includes wired and wireless (Bluetooth, Enocean, Wi-Fi, Zigbee, Z-wave, and others).