Global Market for Smart Sensors is Anticipated to grow at a Significant Pace i.e., USD 91.14 Billion during the Forecast Period 2021-2027

Published Date: Aug, 2021

The smart sensor market is expected to witness a CAGR of 19.4% during the forecast period 2021-2027. The smart sensor industry is anticipated to have significant growth during the forecast period due to the massive investment in R&D activities, adoption of IoT, autonomous cars, industrial automation, and smart wearable networks in healthcare, resulting in the development of smart sensors during the forecast period. Smart sensors are used in developed IT solutions like machine-to-machine communication and analytics and measure temperature or pressure acceleration fluctuations that are crucial for a process and used in smart grids, smart cities, and smart environments. These devices are also implemented in the automobile, defense, sports, and electronics sectors too. Furthermore, the rising government initiatives, rising trend towards miniaturization are the factors that bolster the growth of the smart sensor market. Nevertheless, the development of smart sensors in the biomedical sector will create promising opportunities for the growth of smart sensors globally.

Infineon Technologies AG, Elliptic Labs, a global AI software company and world leader in virtual smart sensors, has announced a partnership. This collaboration adds new capabilities such as breathing and heartbeat detection to Elliptic Labs' existing presence and gesture detection capabilities.

The COVID-19 outbreak has adversely affected the electronics and semiconductor sector owing to which production facility and new projects were stalled, resulting in a slowdown in the growth of the smart sensor market. However, the adverse impact of COVID-19 on the smart sensor market is anticipated to remain for a short period and the market will recover by 2021 owing to rising demand for the installation of IoT devices in various industries and increasing initiatives for smart cities and smart grid technologies.  

Browse 73 market data Tables and 47 Figures spread through 200 Pages and in-depth TOC on " Smart Sensor Market by Type (Pressure Sensors, Temperature & Humidity Sensors, Flow Sensors, Image Sensors, Touch Sensors, Water Sensors, Motion & Occupancy Sensors, Position Sensors, Light Sensors, Ultrasonic Sensors, and Others), by Component (Transceivers, Amplifiers, Analog to Digital Converters, Digital to Analog Converters, and Microcontrollers), by Technology (CMOS, MEMS, and Others), by Connectivity (Wired Network Connectivity and Wireless Network Connectivity), by End-Use Industry (Biomedical & Healthcare Industry, Automotive Industry, Aerospace & Defense Industry, Building Automation Industry, Consumer Electronics Industry, Industrial Automation Industry, and Others), and Region - Global Forecast to 2027"

By type, temperature sensor to project high growth during the forecast period.

Temperature sensors will witness significant growth during the forecast period owing to the mounting demand for reliable, high-performance, and low-cost sensors, resulting in the development of innovative technologies such as microtechnology and nanotechnology. Moreover, temperature sensors are used in a smart thermostat that is a smart home device. There is a growing demand for smart homes during the forecast period because of the rise in consumer awareness, industrial advancement, and easy accessibility.

Global Smart Sensor Market Segmentation Analysis

Segment

Categorization

Leading Category

 Type

Pressure Sensors, Temperature & Humidity Sensors, Flow Sensors, Image Sensors, Touch Sensors, Water Sensors, Motion & Occupancy Sensors, Position Sensors, Light Sensors, Ultrasonic Sensors, and Others

Temperature & Humidity Sensors

 (High CAGR)

Image Sensors (Largest)

Light Sensors

(High CAGR)

Component

Transceivers, Amplifiers, Analog to Digital Converters, Digital to Analog Converters, and Microcontrollers

Digital to Analog Converters (Fastest)

Technology

CMOS, MEMS, and Others

MEMS (Significant CAGR)

Connectivity

Wired Network Connectivity and Wireless Network Connectivity

Wireless Network Connectivity

(High CAGR)

End-Use Industry

Biomedical & Healthcare Industry, Automotive Industry, Aerospace & Defense Industry, Building Automation Industry, Consumer Electronics Industry, Industrial Automation Industry, and Others

Automotive Industry (Largest)

Consumer Electronics Industry (High CAGR)

Region

North America, Europe, Asia-Pacific, and Rest of the World

Asia-Pacific (Largest)

 

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“Asia-Pacific to hold the largest regional market share in 2020.”

Asia-Pacific is the largest contributor in the smart sensor market owing to massive investment, business expansion opportunities, growth in healthcare, automobiles, and consumer electronics in the region. Moreover, the penetration of smartphones, appliances in residential buildings like heating, washing machine, refrigerators, and cooling equipment uses smart sensors, resulting in the growth of smart sensors in the region.

Some of the major players in the global smart sensor market include Analog Devices, Inc., ABB, Honeywell International Inc., NXP Semiconductors, Siemens, Infineon Technologies AG, Eaton, Texas Instruments Incorporated, STMicroelectronics, Robert Bosch GmbH.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Type, Component, Technology, Connectivity, End-Use Industry and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Analog Devices, Inc., ABB, Honeywell International Inc., NXP Semiconductors, Siemens, Infineon Technologies AG, Eaton, Texas Instruments Incorporated, STMicroelectronics, Robert Bosch GmbH

Global Smart Sensor Market Coverage

Type Insight and Forecast 2021-2027

  • Pressure Sensors
  • Temperature & Humidity Sensors
  • Flow Sensors
  • Image Sensors
  • Touch Sensors
  • Water Sensors
  • Motion & Occupancy Sensors
  • Position Sensors
  • Light Sensors
  • Ultrasonic Sensors
  • Others

Component Insight and Forecast 2021-2027

  • Transceivers
  • Amplifiers
  • Analog to Digital Converters
  • Digital to Analog Converters
  • Microcontrollers

Technology Insight and Forecast 2021-2027

  • CMOS
  • MEMS
  • Others

Connectivity Insight and Forecast 2021-2027

  • Wired Network Connectivity
  • Wireless Network Connectivity

End-Use Industry Insight and Forecast 2021-2027

  • Biomedical & Healthcare Industry
  • Automotive Industry
  • Aerospace & Defense Industry
  • Building Automation Industry
  • Consumer Electronics Industry
  • Industrial Automation Industry
  • Others

Geographical Segmentation

Smart Sensor Market by Region

North America

  • By Type
  • By Component
  • By Technology
  • By Connectivity
  • By End-User industry
  • By Country – U.S., Canada, and Mexico

Europe

  • By Type
  • By Component
  • By Technology
  • By Connectivity
  • By End-User industry
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Type
  • By Component
  • By Technology
  • By Connectivity
  • By End-User industry
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Type
  • By Component
  • By Technology
  • By Connectivity
  • By End-User industry
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
Our Industry
Global Market for Smart Sensors is Anticipated to grow at a Significant Pace i.e., USD 91.14 Billion during the Forecast Period 2021-2027