The research report “Smart Sensor Market Size By Product (Temperature & Humidity, Pressure, Motion, Position, Flow, Image, Touch), By Technology (MEMS, CMOS), By Network (Wireless, Wired), By Application (Commercial/Industrial [Retail, Education, Healthcare, Manufacturing, Hospitality], Residential/Smart Homes [Home Security, Energy Management & Climate Control, Lighting, Window & Appliance Control, Audio-Visual & Entertainment, Assisted Living], Consumer Electronics, Automotive, Oil & Gas, Aerospace & Defense), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Taiwan, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024”, by Global Market Insights, Inc. says Smart Sensor Market size is set to exceed USD 80 billion by 2024; driven by rising security risks leading to high demand for advanced smart sensors.
Smart sensor market will change the landscape of impending technologies as sensors are getting embedded in the devices to ensure an interface between the equipment and the surrounding world. Smart sensors have become an integral part of consumer’s daily lives as one interacts with several sensors even while performing even a mundane task. This shows that the smart sensor technology is no longer in its infancy and has been widely adopted in several application segments. A report published by Global Market Insights, Inc., brings to light the growth prospects of global smart sensor market, which is foreseen to attain a valuation of over USD 80 billion by 2024. The worldwide smart sensor shipments stood over 15 billion units in 2015 and is further estimated to record a CAGR of 17% over the period of 2016-2024.
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The global smart sensor industry will chart out a lucrative growth path in the coming years with the increasing product penetration in consumer electronics and automotive industry. The automotive smart sensor market is estimated to grow considerably as sensor are deployed to achieve smart features such as automatic climate control, engine coolant temperature control, blind spot monitoring, etc. The expanding automotive electronics market which is projected to be worth USD 353 billion by 2023 will positively influence the smart sensor market trends over the years ahead.
The smart position sensor market is slated to substantially grow with the escalating demand from the automotive & aerospace industries. The smart sensor market is also gaining traction in the aerospace and defense applications to sense the climate changes. Climate sensors are basically used to screen the conditions in the spacecraft operations. They are proved to be extremely beneficial in detecting fire conditions of the spacecraft as they measure elements such as carbon monoxide, carbon dioxide, and oxygen.
Rising adoption of smart sensors in wireless networks, particularly in commercial spaces has further augmented the smart sensor industry share. The mounting inclination toward digitalization coupled with rising penetration of smartphones and tablets have enabled the touch sensor market to grow in terms of revenue & volume. Several government organizations are investing colossal amounts in R&D for the development of smart technologies. This has encouraged establishment of several manufacturing industries, particularly in Asia Pacific. Strong economic progression in India, Japan, and China has led to a growing inclination of consumers toward wireless and energy efficient technologies, which in turn has fueled regional smart sensor market Moreover, North America is leading the regional race in smart sensor industry, owing to the presence of prominent industry players and growing trend of IoT and smart homes.
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Several manufacturers and designers have opened doors to lucrative growth of smart sensor industry by making valuable advancements in micro-electro-mechanical systems (MEMS) technology. Over the period of 2016-2024, the MEMS technology is projected to grow at a rate of 15%, owing to rising adoption of wearable technology and growing trend of product miniaturization. Notable smart sensor industry players include General Electric, Eaton Corporation, Emerson Electric, Honeywell, and Robert Bosch.
Chapter 1 Methodology & Scope
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Definition and forecast paramters
1.2 Data Sources
Chapter 2 Executive Summary
2.1 Smart sensors industry 3600 synopsis, 2013 – 2024
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Technology trends
2.1.4 Network trends
2.1.5 Application trends
2.1.6 Regional trends
Chapter 3 Smart Sensors Industry Insights
3.1 Industry segmentation
3.2 Industry lanscape, 2013 – 2024
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Smart devices
184.108.40.206 Smart homes
220.127.116.11.1 Home Security
18.104.22.168.2 Energy management & climate control systems
22.214.171.124.3 Lighting, window & appliance control systems
126.96.36.199.4 Audio?visual & entertainment systems
188.8.131.52 Commercial/Industrial building
3.4.2 Internet of Things
3.5 Regulatory landscape
3.5.2 North America
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 Middle East
3.6 Industry Impact forces
3.6.1 Growth drivers
184.108.40.206 Rising government initiatives
220.127.116.11 Rising security risks leading to high demand for advanced smart sensors
18.104.22.168 Rising focus on environment safety
22.214.171.124 Emerging demand across various applications
126.96.36.199 Growing demand for miniaturized products
188.8.131.52 Increasing demand in monitoring and diagnostics applications
3.6.2 Industry pitfalls and challenges
184.108.40.206 Product lifecycle concerns
220.127.116.11 Complex design
3.7 Growth potential analysis. 2016
3.8 Porter’s analysis
3.9 PESTEL analysis
3.10 Use cases/5W1H
3.10.1 Residential building/smart home
18.104.22.168 Home security
22.214.171.124 Energy management & climate control systems
126.96.36.199 Lighting, window & appliance control systems
188.8.131.52 Audio?visual & entertainment systems
184.108.40.206 Assisted living
3.10.2 Consumer electronics
3.10.4 Oil & gas
Browse key industry insights spread across 640 pages with 1041 market data tables & 11 figures & charts from this report Smart Sensor Market in detail along with the table of contents at:
This latest Smart Sensor Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Smart Sensor industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Reasons to Buy This Report
- Global Smart Sensor Market size & forecast by product & application.
- Growth drivers, pitfalls & industry challenges.
- Key Smart Sensor Market growth opportunities & emerging business models.
- Competitive benchmarking with market share analysis and company profiles.
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