Projections from a new market analysis indicate that the global
smart sensor market revenue will rise from an estimated US$ 26 Bn in
2018 end to more than US$ 82 Bn by the close of 2026, resulting in a
growth rate of 15.3% during the eight period from 2018 to 2026. Asia
Pacific is expected to be a key contributor towards this growth, with
increasing adoption anticipated to be witnessed across the automotive
industry in the region. The U.S is expected to maintain a leading
position in the global market for smart sensors, owing to the
presence of large global players operating in the smart sensor space
in the country. Significant growth potential exists in countries such
as Japan, India, and China predominantly due to the steadily
increasing demand for smart sensor technology from the automotive and
manufacturing industries in these countries.
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Rise of the Industrial Internet of Things (IIot) and Implementation of Sensor Technology in Supply Chain Management to Push Revenues in the Global Smart Sensor Market
The in-depth analysis of the global market for smart sensors Reveals attributes the stellar growth of this market to three key factors – proliferation of the IIoT, increasing use of smart sensors in wearable devices, and integration of sensor technology in supply chain management. IIoT is fast emerging as a future ready concept across diverse industries that deploy sensor-based measurements for analysis and decision making. Applications of smart sensors in system assembly lines, testing, and inspection are rapidly increasing in the manufacturing sector and this adoption is further fueled by constant innovation in sensor technology. A rapidly growing demand for automation in the process manufacturing sector is expected to push revenue growth of the global smart sensor market in the near future.
The use of smart sensors in wearables has been witnessing increasing traction of late. Smart sensors find application in several wearable medical devices and are used in blood glucose monitoring, sensor fusion, and smart biomedical sensing, to name a few. Technological breakthroughs in sensor technology have created new avenues in medical wearable technology. Wearable medical devices with embedded smart sensors send information about patient health to healthcare professionals and caregivers, thereby speeding the process of administering medical aid. The adoption of smart sensors in healthcare applications is expected to surge in the coming years, hence boosting revenue growth of the global smart sensor market.
On the basis of sensor type, the smart sensor market is segmented into motion sensors, temperature sensors, pressure sensors, image sensors, touch sensors, position sensors, and others. The revenue contribution of smart sensors from the touch sensors segment is expected to expand at a CAGR of 17.6% during the forecast period. On the basis of technology, the smart sensor market is segmented as MEMS-based smart sensors, CMOS-based smart sensors, and other technologies. The revenue contribution of smart sensor from the MEMS-based smart sensors segment is expected to expand at a CAGR of 16.1% during the forecast period. On the basis of end-use industry, the global smart sensor market is segmented into healthcare, automotive, infrastructure, industrial, consumer electronics, and others. The revenue contribution of smart sensors from the automotive segment is expected to expand at a CAGR of 16.1% during the forecast period.
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Key competitors in smart sensor market are Microsemi Corporation, STMicroelectronics, Infineon Technologies AG, Vishay Intertechnology; ABB Ltd.; Omron Corporation; Rockwell Automation, Inc.; SICK AG; Eaton Corporation; Honeywell International, Inc.; Texas Instruments Incorporated; Renesas Electronics Corporation; Yokogawa Electric Corporation; NXP Semiconductors; and Analog Devices, Inc.
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Download Exclusive Sample Of This Report: https://www.researchmoz.us/enquiry.php?type=S&repid=1907260
Rise of the Industrial Internet of Things (IIot) and Implementation of Sensor Technology in Supply Chain Management to Push Revenues in the Global Smart Sensor Market
The in-depth analysis of the global market for smart sensors Reveals attributes the stellar growth of this market to three key factors – proliferation of the IIoT, increasing use of smart sensors in wearable devices, and integration of sensor technology in supply chain management. IIoT is fast emerging as a future ready concept across diverse industries that deploy sensor-based measurements for analysis and decision making. Applications of smart sensors in system assembly lines, testing, and inspection are rapidly increasing in the manufacturing sector and this adoption is further fueled by constant innovation in sensor technology. A rapidly growing demand for automation in the process manufacturing sector is expected to push revenue growth of the global smart sensor market in the near future.
The use of smart sensors in wearables has been witnessing increasing traction of late. Smart sensors find application in several wearable medical devices and are used in blood glucose monitoring, sensor fusion, and smart biomedical sensing, to name a few. Technological breakthroughs in sensor technology have created new avenues in medical wearable technology. Wearable medical devices with embedded smart sensors send information about patient health to healthcare professionals and caregivers, thereby speeding the process of administering medical aid. The adoption of smart sensors in healthcare applications is expected to surge in the coming years, hence boosting revenue growth of the global smart sensor market.
On the basis of sensor type, the smart sensor market is segmented into motion sensors, temperature sensors, pressure sensors, image sensors, touch sensors, position sensors, and others. The revenue contribution of smart sensors from the touch sensors segment is expected to expand at a CAGR of 17.6% during the forecast period. On the basis of technology, the smart sensor market is segmented as MEMS-based smart sensors, CMOS-based smart sensors, and other technologies. The revenue contribution of smart sensor from the MEMS-based smart sensors segment is expected to expand at a CAGR of 16.1% during the forecast period. On the basis of end-use industry, the global smart sensor market is segmented into healthcare, automotive, infrastructure, industrial, consumer electronics, and others. The revenue contribution of smart sensors from the automotive segment is expected to expand at a CAGR of 16.1% during the forecast period.
Get Complete TOC With Tables and Figures @ https://www.researchmoz.us/global-market-study-on-smart-sensors-increasing-adoption-of-automotive-sensors-to-be-witnessed-in-the-coming-years-report.html/toc
Key competitors in smart sensor market are Microsemi Corporation, STMicroelectronics, Infineon Technologies AG, Vishay Intertechnology; ABB Ltd.; Omron Corporation; Rockwell Automation, Inc.; SICK AG; Eaton Corporation; Honeywell International, Inc.; Texas Instruments Incorporated; Renesas Electronics Corporation; Yokogawa Electric Corporation; NXP Semiconductors; and Analog Devices, Inc.
About ResearchMoz
ResearchMoz is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfil all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organisations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price.
For More Information Kindly Contact:
ResearchMoz
Mr. Nachiket Ghumare,
Tel: +1-518-621-2074
USA-Canada Toll Free: 866-997-4948
Email: sales@researchmoz.us
For More Reports Visit @ http://marketresearchlatestreports.blogspot.com/
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