Smart Sensor Market Worth $57.77B by 2022
May 9, 2016 | PRNewswireEstimated reading time: 3 minutes
The report "Smart Sensor Market by Type (Temperature & Humidity, Pressure, Touch, Motion & Occupancy, Water, Position, Light), Technology (Mems, CMOS), Component (ADC, DAC, Microcontroller), Connectivity, End-User Industry and Geography - Global Trends and Forecast to 2022", published by MarketsandMarkets, the market is expected to grow from USD 18.58 Billion in 2015 to USD 57.77 Billion by 2022, at a CAGR of 18.1% between 2016 and 2022.
The major drivers for this market include the growing concern toward security & surveillance, rising need for energy-efficient devices, and favorable government initiatives. The growing consumer electronics sector, surge in automotive industry on a global basis, and the growing trend of miniaturization in sensors are the other major factors driving the smart sensor market.
Smart pressure sensor type to hold a major share of the smart sensor market
Pressure sensors are among the key measuring and monitoring sensors used in most end-user industries. Pressure is an important parameter of diverse disciplines such as aerodynamics, thermodynamics, acoustics, fluid mechanics, and biophysics. MEMS-based pressure sensors have been widely utilized in consumer electronics, automotive systems, environmental monitoring, and medical diagnostics sectors among others. Thus, these sensors are expected to hold the major share of the smart sensor market between 2016 and 2022.
Trend of miniaturization in the sensors segment and growing consumer electronics sector are driving the smart sensor market
The tremendous technological developments in the past decade have led to considerable reduction in the size of sensors; for instance, the size of pressure sensor has been reduced from approximately 0.5um to 1 mm. The reduction in the size of these sensors and the adoption of MEMS technology have resulted in a wide horizon of applications for sensors in the fields of automotive, aviation, healthcare, wireless and optical communications, and consumer products. Moreover, the growing demand for smart devices and wearable electronics in the consumer electronics sector are some of the major growth drivers.
Americas to hold the largest market share, APAC to grow at the highest rate
The smart sensor market in the Americas is expected to hold the major market share between 2016 and 2022 owing to the growing demand for smart homes and IoT in the U.S., presence of major players in the region, early adoption of new technologies, and growing automotive and consumer electronics industry. The APAC market is expected to grow at the highest CAGR between 2016 and 2022 owing to the increasing demand from end-user industries such as consumer electronics and automotive.
The competitive landscape of the market presents valuable insights into the various players in the smart sensor market. The smart sensor market report profiles the 16 promising players in the market and describes their business overview, product portfolio, recent developments, and key strategies for growth. Some of the major players considered in the research study are Analog Devices, Inc. (U.S.), Infineon Technologies AG (Germany), STMicroelectronics N.V. (Switzerland), TE Connectivity, Inc. (U.S.), Atmel Corporation (U.S.), NXP Semiconductors N.V. (Netherlands), InvenSense, Inc. (U.S.), Robert Bosch GmbH (Germany), and Sensirion AG (Switzerland) among others.
About MarketsandMarkets:
MarketsandMarkets is the world's No. 2 firms in terms of annual published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
Suggested Items
Book Excerpt: The Printed Circuit Assembler’s Guide to... Factory Analytics
04/24/2024 | I-Connect007 Editorial TeamIn our fast-changing, deeply competitive, and margin-tight industry, factory analytics can be the key to unlocking untapped improvements to guarantee a thriving business. On top of that, electronics manufacturers are facing a tremendous burden to do more with less. If you don't already have a copy of this book, what follows is an excerpt from the introduction chapter of 'The Printed Circuit Assembler’s Guide to... Factory Analytics: Unlocking Efficiency Through Data Insights' to whet your appetite.
Listen Up! The Intricacies of PCB Drilling Detailed in New Podcast Episode
04/25/2024 | I-Connect007In episode 5 of the podcast series, On the Line With: Designing for Reality, Nolan Johnson and Matt Stevenson continue down the manufacturing process, this time focusing on the post-lamination drilling process for PCBs. Matt and Nolan delve into the intricacies of the PCB drilling process, highlighting the importance of hole quality, drill parameters, and design optimization to ensure smooth manufacturing. The conversation covers topics such as drill bit sizes, aspect ratios, vias, challenges in drilling, and ways to enhance efficiency in the drilling department.
Elevating PCB Design Engineering With IPC Programs
04/24/2024 | Cory Blaylock, IPCIn a monumental stride for the electronics manufacturing industry, IPC has successfully championed the recognition of the PCB Design Engineer as an official occupation by the U.S. Department of Labor (DOL). This pivotal achievement not only underscores the critical role of PCB design engineers within the technology landscape, but also marks the beginning of a transformative journey toward nurturing a robust, skilled workforce ready to propel our industry into the future.
Winner of The Science Show Rakett 69 Receives Incap Scholarship
04/24/2024 | IncapThe winner of the Rakett 69 science show, Andri Türkson, who stood out as an electronics enthusiast, received a scholarship from Incap Estonia, along with an internship opportunity in Saaremaa.
Alternative Manufacturing Inc. Awarded QML Requalification to IPC J-STD-001 and IPC-A-610
04/24/2024 | IPCIPC's Validation Services Program has awarded an IPC J-STD-001 and IPC-A-610 Qualified Manufacturers Listing (QML) requalification to Alternative Manufacturing Inc (AMI).