Smart Sensor Market in MEMS technology to grow at 15% CAGR from 2016 to 2024

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.

Report Content

Chapter 1   Methodology & Scope

1.1    Methodology

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

1.2.1    Secondary

1.2.2    Primary

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

3.4.1.1   Smart homes

3.4.1.1.1    Home Security

3.4.1.1.2    Energy management & climate control systems

3.4.1.1.3    Lighting, window & appliance control systems

3.4.1.1.4    Audio?visual & entertainment systems

3.4.1.2   Commercial/Industrial building

3.4.2    Internet of Things

3.5    Regulatory landscape

3.5.1    Europe

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

3.6.1.1    Rising government initiatives

3.6.1.2    Rising security risks leading to high demand for advanced smart sensors

3.6.1.3    Rising focus on environment safety

3.6.1.4    Emerging demand across various applications

3.6.1.5    Growing demand for miniaturized products

3.6.1.6    Increasing demand in monitoring and diagnostics applications

3.6.2    Industry pitfalls and challenges

3.6.2.1    Product lifecycle concerns

3.6.2.2    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

3.10.1.1   Home security

3.10.1.2   Energy management & climate control systems

3.10.1.3   Lighting, window & appliance control systems

3.10.1.4   Audio?visual & entertainment systems

3.10.1.5   Assisted living

3.10.2    Consumer electronics

3.10.3    Automotive

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:

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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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Global Smart Sensor Market to register a stupendous CAGR of 17% over 2016-2024

The latest Smart Sensor Market analysis and research report talks about major applications of Smart Sensor, growth of these segments as well as offers insights into companies active in this industry and their information.

The Internet of Things revolution worldwide is providing a remarkable impetus to the smart sensor market, the testimony of which is the huge share of USD 20 billion recorded by this industry in 2015. Over the past few years, smart and sustainable technologies have generated a significant momentum in the global business space and the growth chart depicts a linear adoption curve for these devices in the years ahead. In this regard, the government support indeed holds a significant credit in nurturing the expansion of smart sensor industry.

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Smart home and smart city development are the prominent initiatives of the government bodies, exponentially increasing the deployment of smart sensors globally. These projects are substantially contributing toward the smart sensor industry share by incorporating this technology in a series of applications such as energy management and climate control, home security, windows and appliance control, lighting, assisted living, and audio-visual entertainment. Among these applications, home security and energy management applications are anticipated to exhibit massive contribution toward smart sensor market share in the coming years. The security needs of the houses can be met by the installation of image sensors at the doors to keep a check on visitors entering the house or alerting the residents in case of emergencies such as fire, thefts, etc. Moreover, the growing inclination toward sustainable energy is also fueling the smart sensor industry size from residential applications, where these sensors can enable optimal usage of the energy.

The industry players are also taking immense interests to gain significant profits from the smart technology investments. One such move in this respect was from General Electric. Earlier this year, the giant announced its plan for smart city development in San Diego. The company would provide sensors to be incorporated on 3200 street lights in the city with an aim to monitor traffic and detect the crime. Some other participants sharing the smart sensor market space are ABB Group Ltd., Atmel Corporation, Analog Devices, Inc., Eaton Corporation PLC, Honeywell International, Inc., NXP Semiconductors, Robert Bosch AG, and Smart Sensors, Inc.

Looking at the commercial aspect, automotive industry is one of the major sectors propelling smart sensor market share. The sensors are installed in automobiles to regulate the temperature inside the vehicles and optimize the energy consumption by the vehicles. Moreover, the driverless cars which are the next big thing in the automotive business space will further augment the smart sensors industry size, attributed to the technology’s pivotal role in making these cars truly intelligent. Auto industry giants such as Mercedes-Benz, Toyota, Volvo, etc. have a strong pipeline for the launch of these smart cars in the coming years.

The exponentially increasing driverless cars industry is itself a testimony to the remarkable growth of the smart sensors market. These smart sensors comprise self-diagnostics and data gathering features that enhance the control, reliability, and interoperability features of the vehicle. Audi, the renowned automotive giant has embedded 16 smart sensors in its Smart Car A7 model, making it one of the chief driverless cars in the luxury car segment.  These sensors assist the car in analyzing the surrounding environment with impending dangers, communicating with other vehicles, and navigating the travel route.

Speaking of the smart sensor technologies prominent in the automobiles, LiDARs are the most robustly deployed sensors in the vehicles. Other major technologies include ultrasonic, radars, and vision-based sensors. The LiDAR sensor has been tested by Ford in its Ford Fusion Hybrid autonomous vehicles and has been acclaimed for providing the cars with precise navigation even in complete darkness.

Consumer electronics is another major sector influencing the growth dynamics of smart sensor industry. The increasing share of smartphones, tablets, wearable devices, smart watches, etc. is directly impacting the smart sensor market size. In response to the aforementioned fact, smart touch sensors are accumulating a major share of the smart sensor industry.

The expanding wearable devices market has built a huge scope for the smart sensors industry. The growing trend of device miniaturization has provided a remarkable push to the deployment of these sensors. Micro-electro-mechanical- systems or MEMS is the major technology incorporated in these wearable devices, prominently in the smart watches. Estimates suggest that the MEMS technology adoption in the smart sensor market is likely to grow at an annual rate of 15% over the period of 2016-2024.

The cost-curtailment in the infrastructure is becoming the priority of almost every industry today. Pertaining to this fact, wireless networks are gaining a competitive edge over their wired counterparts. The wireless network based smart sensor market is anticipated to accumulate a major chunk of the overall industry share, owing to their ease of installation, increased productivity, and cost-effectiveness.

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Talking about the geographical aspect, Asia Pacific is projected to have a strong foothold in smart sensors market over the coming years. The appreciable economic development of APAC countries such as China, India, and Japan, expanding consumer electronics industry, and efforts toward sustainable energy are the factors driving APAC smart sensor market growth over the years to come.

On grounds of technological advancements, North America is leading the race. This factor is also making the region a leading participant in smart sensor industry. Robust development of smart homes, especially across U.S. and increasing adoption of IOT devices are the chief driving forces behind North America smart sensor market.

With the growing energy sustainability trends and escalating efforts toward development of smart homes and smart cities, the global smart sensor market is poised to witness a strong trajectory roadmap ahead. A report by Global Market Insights, Inc. states that the smart sensor market will cross a revenue of USD 80 billion by 2024, with a CAGR of 17% over the period of 2016-2024.

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

3.4.1.1   Smart homes

3.4.1.1.1    Home Security

3.4.1.1.2    Energy management & climate control systems

3.4.1.1.3    Lighting, window & appliance control systems

3.4.1.1.4    Audio?visual & entertainment systems

3.4.1.2   Commercial/Industrial building

3.4.2    Internet of Things

3.5    Regulatory landscape

3.5.1    Europe

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

3.6.1.1    Rising government initiatives

3.6.1.2    Rising security risks leading to high demand for advanced smart sensors

3.6.1.3    Rising focus on environment safety

3.6.1.4    Emerging demand across various applications

3.6.1.5    Growing demand for miniaturized products

3.6.1.6    Increasing demand in monitoring and diagnostics applications

3.6.2    Industry pitfalls and challenges

3.6.2.1    Product lifecycle concerns

3.6.2.2    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

3.10.1.1   Home security

3.10.1.2   Energy management & climate control systems

3.10.1.3   Lighting, window & appliance control systems

3.10.1.4   Audio?visual & entertainment systems

3.10.1.5   Assisted living

3.10.2    Consumer electronics

3.10.3    Automotive

3.10.4    Oil & gas

This latest Smart Sensors 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 Sensors 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 Sensors Market size & forecast by product & application.
  • Growth drivers, pitfalls & industry challenges.
  • Key Smart Sensors Market growth opportunities & emerging business models.
  • Competitive benchmarking with market share analysis and company profiles.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde

Corporate Sales, USA

Global Market Insights, Inc.

Phone: 1-302-846-7766

Toll Free: 1-888-689-0688

Email: sales@gminsights.com

Web: https://www.gminsights.com

Blog: https://www.gminsights.com/blogs

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Parking Sensors Market share research by applications and regions for 2017-2024

Parking Sensors industry analysis is covered in this latest research report that aims to help those taking daily business decisions by providing market trends information, competitive landscape scenario, forecasts and more.

Parking Sensors Market size is anticipated to witness growth during the forecast period owing to the ability of these devices to alleviate risks to pedestrians and enhance the driver safety. The introduction of regulations that mandate the installation of rear cameras in vehicles is anticipated to drive parking sensors market growth over the next eight years.

Parking sensors are proximity sensors required in vehicles to assist the driver for hassle-free and safe car parking. These are installed in the car’s rear bumper and help in the detection of objects, which are concealed from the view & mitigate the risk of accidents when the car is in the reverse mode. In addition to its benefits, time effectiveness, fuel efficiency, and cost savings are expected to be major factors that drive the parking sensors market during the forecast period.

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These components are Advanced Driver Assistance Systems (ADAS) that alert drivers in case of obstacles. They assemble real-time information about coordinates between the cars in a parking lot and the availability of free space through changeable message signs. It makes use of advanced technologies to help cars locate, reserve, and pay for parking. Consumers are increasingly becoming aware of safety technologies and systems and are taking interest in improving vehicle safety, thus propelling parking sensors market growth.

The governments in several countries are implementing strict regulations that mandate the installation and development of these systems to ensure safety and reduce the impact & occurrences of collisions. Increasing number of vehicle accidents due to drivers’ faults is forcing the governing bodies to mandate adherence to regulatory standards for adopting advanced technologies in vehicles to minimize fatalities and accidents. For instance, 76% of vehicle fatalities are accounted to be due to drivers’ faults. Growing legislative pressure is anticipated to force the automobile manufacturers to install automotive safety systems, which would promote the growth of parking sensors market.

The limited detection range of this equipment is anticipated to be a major restraining factor. Furthermore, the lack of awareness regarding the technology is expected to hinder the market growth. The introduction of these systems in vehicles has increased the complexity of vehicle consoles, probability of system component failures, errors in system design, and spontaneous driver errors. This is anticipated to negatively impact parking sensors’ market growth.

Technological advancements in the artificial intelligence technology to make the system operator independent is expected to provide viable growth opportunities to the parking sensors market. One of the major trends in the market is the adoption of LiDAR. Growth and advent of LiDAR are attributed to the increasing need for better sensors. These have better capabilities in terms of detection of objects even in the absence of light.

The parking sensors market is segmented on the basis of installation and technology. On the basis of technology, these components are classified into electromagnetic and ultrasound. The ultrasonic sensors use sound waves to sense obstacles and electromagnetic type uses magnetic waves. The electromagnetic type is equipped with maintenance system and is self-diagnostic. Superior design due to transceiver adhesive strips and preservation of vehicles’ aesthetic appearance are expected to drive parking sensors market growth during the forecast period.

On the basis of installation, the parking sensors market is segmented into OEM and aftermarket. Aftermarket components are cost-effective as compared to OEM components. OEM components are made specifically for a vehicle model and ensure superior fitment & construction.

North America is expected to dominate the parking sensors market during the forecast period. The rapid growth is attributed to increased sales of mid- and high-level cars and rising population of baby boomers & resultant adoption of luxury cars by them is expected to propel parking sensors market growth in the region. The introduction of legislations compelling the OEMs to produce advanced systems is expected to propel the growth. The parking sensors market growth in the Asia Pacific region is anticipated to be driven by a consistent increase in demand for mid-sized and compact vehicles equipped with safety features, particularly in China and India.

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Some of the key parking sensors market players include Abbott Analog Devices, Inc., Volkswagen, Denso Corporation, Honda, Hyundai, Continental AG, Robert Bosch GmbH, Ford Motor Company, Audi, Mercedes Benz, NXP Semiconductors N.V., Texas Instruments, Inc., Freescale Semiconductor, Ltd., and BMW.

The global parking sensors market ecosystem comprises several international vendors. There are several domestic players, who cater to needs in respective regions. Increasing focus of automotive manufacturers to implement safety systems as a differentiator is anticipated to drive market during the forecast period. Driver safety system manufacturers including Autoliv and Bosch are collaborating with the OEMs to manufacture and develop low-cost ADAS for compact cars. This is anticipated to help these companies reduce price and attain economies of scale.

This latest Parking Sensors 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 Parking Sensors 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 Parking Sensors Market size & forecast by product & application.
  • Growth drivers, pitfalls & industry challenges.
  • Key Parking Sensors Market growth opportunities & emerging business models.
  • Competitive benchmarking with market share analysis and company profiles.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde

Corporate Sales, USA

Global Market Insights, Inc.

Phone: 1-302-846-7766

Toll Free: 1-888-689-0688

Email: sales@gminsights.com

Web: https://www.gminsights.com

Blog: https://www.gminsights.com/blogs

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