- 13 March 2019 21:56
Growing adoption of smart sensors in the various industries is a major factor driving growth of the global smart sensor market
Smart sensor is a combination of interfacing circuit and sensor. It analyzes and processes the data, and perform determined functions and operations. Smart sensor collects the data from surrounding physical environment. It is used for monitoring and controlling various factors, and provides accurate data to the end user. Smart sensor contains various components such as microcontroller, analog to digital converter, digital to analog converter, amplifier, transducers, transistors, transceivers, etc. It also has unique functionality that provides wired and wireless communication. Availability of various types of smart sensor and its advantages over conventional sensors is making consumers more incline towards its usage.
Increasing usage of electric vehicles and hybrid vehicles is another factor expected to propel demand for smart sensors and fuels growth of the global Smart Sensor Market. Growing consumer electronics sector coupled with increasing demand for smartphones, tablets, laptops, warbles is also anticipated to bolster growth of the target market. Furthermore, rising concern about data security and increasing IoT applications and its integration are factor expected to support growth of the global smart sensor market in the near future. The Smart Sensor Market is segmented on the Basis of Sensor Type, Technology and regions. On the basis of Sensor Type, the global market is segmented into Light Sensors, Flow Sensors, Ultrasonic, Sensors, Pressure Sensors, Touch Sensors, Position Sensors, Temperature & Humidity Sensors, Motion & Occupancy Sensors, Image Sensors, Water Sensors (Level Sensors, pH sensors, Soil Moisture Sensors) Others (Radar Sensors, Chemical Sensors, etc.). The Light Sensors segment accounts for highest revenue share and is expected to witness significant growth during the forecast period.
On the basis of Technology, the global market is segmented into CMOS-based Smart Sensors, MEMS-based Smart Sensors, Others (Integrated Smart Sensors, ASIC, Optical Spectroscopy, Microsystem Technology, and IC-Compatible 3D Micro-Structuring). The CMOS-based Smart Sensors segment is expected to account for highest market share in the global market and expected to witness highest growth in terms of revenue during the forecast period.
On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The market in Asia Pacific accounts for highest share in terms of revenue in the global market. The Asia Pacific market is expected to witness highest growth in terms of revenue over the forecast period.
Key players in the global market include Analog Devices, Inc., STMicroelectronics N.V., Infineon, Technologies AG, TE Connectivity Ltd., NXP Semiconductors N.V., InvenSense, Inc., Robert Bosch GmbH, Sensirion AG, Atmel Corporation, ABB Ltd.