According to a new market report by Lucintel, the future of the smart sensor market looks promising with opportunities in the automotive, consumer electronics, industrial, infrastructure, medical equipment, avionics, and food and beverage industries. The smart sensor market is expected to grow with a CAGR of 18% from 2019 to 2024. The major drivers for this market are increasing vehicle production, growth in demand for smartphones, and development of smart cities.
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In this market, image sensors, smart pressure sensors, smart motion sensors, smart position sensors, smart temperature sensors, and touch sensors are used in various end use industries. Lucintel forecasts that the smart pressure sensor will remain the largest segment over the forecast period due to the growth in automotive and consumer electronics industries.
Within the smart sensor market, consumer electronics will remain the largest end use industry and it is also expected to witness the highest growth over the forecast period due to the increasing adoption in smartphones, gaming consoles, PCs, home appliances, and kitchen appliances.
MEMS and CMOS are the major technologies in the smart sensor market. Lucintel forecasts that MEMS based smart sensor will remain the largest technology due to the increasing adoption in automotive, industrial, healthcare, and consumer electronics industries.
APAC will remain the largest region over the forecast period and it is also expected to witness the highest growth due to the rapid modernization, increasing adoption of new technologies, and growth in consumer electronics, automotive, and healthcare industries.
ABB, Analog Devices, Eaton Corp, Emerson Process Management, Infineon Technologies, NXP Semiconductors, Renesas Electronics, Siemens, STMicroelectronics, Yokogawa Electric Corp are among the major manufacturers of smart sensors.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the smart sensor market by sensor type, technology, network connectivity, end use industry, and region. Lucintel has prepared a comprehensive research report titled "Smart Sensor Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the smart sensor market by sensor type, technology, network connectivity, end use industry and region as follows:
By Sensor Type [$M shipment analysis for 2019 – 2024]:
Image sensor
Smart temperature sensor
Smart pressure sensor
Smart motion sensor
Touch sensor
Others
By Technology [$M shipment analysis for 2019 – 2024]:
By Network Connectivity [$M shipment analysis for 2019 – 2024]:
Wired
Wireless (Bluetooth, Enocean, Wi-Fi, ZigBee, Z-Wave, and Others)
By End Use Industry [$M shipment analysis for 2019 – 2024]:
Automotive Industry
Consumer Electronic
Infrastructure
Others
By Region [$M shipment analysis for 2013 – 2024]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/smart-sensor-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.