Smart Sensor Market

Introduction of the Global Smart Sensor Market Report

Smart sensor refers to a device that captures data from the physical environment and uses built-in compute resources to perform predefined functions upon detection of specific input and then process data. Smart sensors help in transforming the physical properties including temperature, mass, speed, pressure, and presence of heat bodies into measurable electrical signals, which is to be processed and communicated to the intended devices for favourable functioning. Smart sensors are used in various devices such as smart grids, environmental monitoring system, traffic monitoring and control system, smart lighting, remote system monitoring, flood and water level monitoring systems, and wearable electronic devices among others.

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Market Dynamic

Key Drivers and Emerging Trends

The global smart sensor market is expected to grow at a significant rate during the forecast period. This can be attributed to the increasing trends toward Internet of Things (IoT), rise in adoption of wearable devices, and advancements in the consumer electronics, coupled with the rising trend of miniaturization of electronic devices. Additionally, several advantages offered by smart sensors that includes high reliability, compact size, low power consumption, high performance, wireless network connectivity, easy designing & maintenance is further anticipated to augment the demand of smart sensors over the forecast period. Moreover, the increasing application of smart sensors in various industries including defence, healthcare, manufacturing, automobile, retail, hospitality, and education among others owing to the increasing implementation of touch-enabled devices for improved safety and comfort is projected to escalate the growth of the smart sensor market. Furthermore, the growing number of smart cities, connected homes, development of connected cars and implementation of Intelligent Transportation System (ITS) is expected to provide lucrative growth opportunities for the smart sensors market size.

Restraints in the Global Smart Sensor Market

High installation and maintenance cost of smart sensors is one of the major factors that might hamper the growth of the market. Moreover, lack of privacy and complex structure as compared to traditional sensors are further anticipated to restraint the growth of the market during the forecast period.

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Type – Segment Analysis

Based on type, the smart temperature and humidity sensors segment is expected to grow at a higher CAGR over the forecast period. This is primarily due the wide range of application of smart temperature sensors in several industries including healthcare, automotive, defence, food processing, chemical, consumer electronics, and building and construction. Additionally, the low cost, smaller size availability, and ease in utilization benefit offered by smart temperature sensors are further boosting the demand of the smart temperature and humidity sensors segment.

Technology – Segment Analysis

On the basis of the technology, CMOS (Complementary Metal Oxide Semiconductor) technology segment is anticipated to lead the market primarily due to its low static power consumption and high noise immunity. In addition, increasing application of CMOS technology in image sensors and temperature sensor used in consumer electronics, robot vision, biotechnology, and medical devices is further stimulating the growth of the market.

Component – Segment Analysis

On the basis of component, the microcontroller segment is expected to grow at a faster CAGR during the forecast period owing to its very small size, flexibility, higher integration, and ease of use & maintenance. Moreover, increasing use of smart sensors in various electronic devices including smart thermostat, smart lightings, smart watches, automobiles, traffic control systems, medical devices, and others are further contributing to the demand of the microcontrollers.

Connectivity – Segment Analysis

On the basis of connectivity, wireless network connectivity segment is expected to dominate the market over the forecast period owing to its easy installation & maintenance, cost effectiveness, secure connectivity, flexibility, and scalability.

Industry – Segment Analysis

On the basis of industry, the building and construction segment is projected to lead the market during the forecast period. This is primarily due to the increasing development of connected homes and the growing adoption of smart security devices and smart home electronic devices. Increasing use of temperature sensors, humidity sensors, motion sensors, and contact sensors for automating heating, ventilation and air conditioning controls, and smart locking devices is stimulating the growth of the market.

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Regional – Segment Analysis:

Based on the Region, Asia-Pacific region is anticipated to witness a faster CAGR in the smart sensor market during the forecast period. This is primarily due to the rising demand of consumer electronics in countries such as China, India and South Korea. On the other hand, North America is projected to dominate the market owing to the rapid adoption smart wearable electronics and connected vehicles in the region. Moreover, rapid economic development, high standard of living, the growing number of smart homes are further supporting the growth of US smart sensor market. 

Top Market Players

Various notable players operating in the market include Analog Devices, Inc., Infineon Technologies AG, TE Connectivity Ltd., Microchip Technology Inc., NXP Semiconductors N.V., ABB Ltd., Siemens AG, TDK Corporation, STMicroelectronics, and Petasense Inc., among others.

Key Developments:

• • In 2020, STMicroelectronics introduces L6983 38V/3A synchronous DC/DC converters. The L6983 converters have quiescent current of 17µA. Low current consumption (L6983C) and low-noise (L6983N) variants as smart-building controllers, and always-on devices including smart sensors.
  • In 2020, Petasense Inc. launched Vibration Mote Model 3 smart sensor that combines speed detection with vibration and temperature to enable continuous monitoring of variable speed equipment.

Segments covered in the Report:

The global Smart Sensor market has been segmented on the basis of type, technology, component, network connectivity, industry, and regions. Based on type, the market is segmented into pressure, temperature & humidity, flow, image, touch, water, motion & occupancy, position, light, ultrasonic, and others. On the basis of technology, the market is segmented into CMOS, MEMS, and others. Based on component, the market is segmented into ADC, microcontroller, transreceiver, amplifier, DAC, and others. Based on network connectivity, the market is segmented into wired and wireless. Based on industry, the market is segmented into industrial automation, biomedical & healthcare, consumer electronics, building and construction, automotive, aerospace & defence, others. 

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Key questions answered in this research report:

• • At what pace is global Smart Sensor market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Smart Sensor market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Smart Sensor market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various industries of global Smart Sensor market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Technology, By Component, By Network Connectivity, By Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Analog Devices, Inc., Infineon Technologies AG, TE Connectivity Ltd., Microchip Technology Inc., NXP Semiconductors N.V., ABB Ltd., Siemens AG, TDK Corporation, STMicroelectronics, and Petasense Inc., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global 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
  • Others

Global Smart Sensor Market by Technology

• • CMOS
  • MEMS
  • Others

Global Smart Sensor Market by Component

• • ADC
  • Microcontroller
  • Transceivers
  • Amplifier
  • DAC
  • Others

Global Smart Sensor Market by Network Connectivity

• • Wired
  • Wireless

 Global Smart Sensor Market by Industry

• • Industrial Automation
  • Biomedical & Healthcare
  • Consumer Electronics
  • Building and Construction
  • Automotive
  • Aerospace & Defence
  • Others

Global Smart Sensor Market by Region

• • North America Smart Sensor Market (Option 1: As a part of the free 25% customization)
    • North America Smart Sensor Market by Type
    • North America Smart Sensor Market by Technology
    • North America Smart Sensor Market by Component
    • North America Smart Sensor Market by Network Connectivity
    • North America Smart Sensor Market by Industry
    • US Smart Sensor Market All-Up
    • Canada Smart Sensor Market All-Up
  • Europe Smart Sensor Market (Option 2: As a part of the free 25% customization)
    • Europe Smart Sensor Market by Type
    • Europe Smart Sensor Market by Technology
    • Europe Smart Sensor Market by Component
    • Europe Smart Sensor Market by Network Connectivity
    • Europe Smart Sensor Market by Industry
    • UK Smart Sensor Market All-Up
    • Germany Smart Sensor Market All-Up
    • France Smart Sensor Market All-Up
    • Spain Smart Sensor Market All-Up
    • Rest of Europe Smart Sensor Market All-Up
  • Asia-Pacific Smart Sensor Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Smart Sensor Market by Type
    • Asia-Pacific Smart Sensor Market by Technology
    • Asia-Pacific Smart Sensor Market by Component
    • Asia-Pacific Smart Sensor Market by Network Connectivity
    • Asia-Pacific Smart Sensor Market by Industry
    • China Smart Sensor Market All-Up
    • India Smart Sensor Market All-Up
    • Japan Smart Sensor Market All-Up
    • Rest of APAC Smart Sensor Market All-Up
  • RoW Smart Sensor Market (Option 4: As a part of the free 25% customization)
    • RoW Smart Sensor Market by Type
    • RoW Smart Sensor Market by Technology
    • RoW Smart Sensor Market by Component
    • RoW Smart Sensor Market by Network Connectivity
    • RoW Smart Sensor Market by Industry
    • Brazil Smart Sensor Market All-Up
    • South Africa Smart Sensor Market All-Up
    • Saudi Arabia Smart Sensor Market All-Up
    • UAE Smart Sensor Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Smart Sensor Market All-Up

Major Players Operating in the Smart Sensor (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Analog Devices, Inc.
  • Infineon Technologies AG
  • TE Connectivity Ltd.
  • Microchip Technology Inc.
  • NXP Semiconductors N.V. 
  • ABB Ltd.
  • Siemens AG
  • TDK Corporation
  • STMicroelectronics
  • Petasense Inc.