The global smart sensors market is growing at a significant CAGR of around 18.2% during the forecast period (2020-2026). The market for smart sensors is driven by rising adoption of smart sensors across consumer electronics, security and surveillance, healthcare, and automotive industry. In addition, the rising trend for wearable devices, autonomous cars, and industrial automation are further offering growth opportunity to the global smart sensors market. With the ever-increasing demand in urban mobility and modern logistics sector, the vehicle population has been steadily growing over the past few decades. The ADAS image sensors improve driver safety, it assists the car to gather information about the outside world. ADAS embraces a number of technologies such as LIDAR (light detection and ranging), RADAR (radio detection and ranging), sensors and integrated cameras to provide an all-around image of the surrounding to the driver. However, the high installation and maintenance cost of smart sensors will affect the market growth during the forecast period.
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The global smart sensors market is classified on the basis of geography, which includes North America, Europe, Asia-Pacific, and Rest of the World. North America is expected to project a considerable growth in the global smart sensors market during the forecast period. With the growth in advanced technologies in the region, demand for smart sensors is estimated to increase in the region during the forecast period. North American region is one of the most established and significantly growing markets in terms of consumer electronic products sale. Further, the region is projected to mount up the need for smart sensors in healthcare applications such as ultrasound, MRI, and others. Due to rapid growth in the health-conscious population in North America, companies are bringing wearable devices in their product portfolio which as a result is projected to contribute a huge share in the market.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Smart Sensors Market by Type
- Pressure Sensor
- Temperature Sensor
- Flow Sensor
- Image Sensor
- Others (Humidity Sensor and Position Sensor)
Global Smart Sensors Market by Application
- Aerospace and Defense
- Healthcare
- Industrial Automation
- Automotive and Transportation
- Consumer Electronics
- Others (Building Automation)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- ABB Ltd.
- Analog Devices, Inc.
- Eaton Corporation PLC
- Honeywell International Inc.
- Infineon Technologies AG
- LEGRAND
- NXP Semiconductors N.V.
- OMRON Corp.
- Renesas Electronics Corp.
- Robert Bosch GmbH
- Rockwell Automation, Inc.
- Samsung Electronics Co., Ltd.
- Siemens AG
- Smart Sensors, Inc.
- STMicroelectronics N.V.
- TDK Corp.
- TE Connectivity Ltd.
- Vishay Technology Inc.
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global smart sensors market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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