According to the latest report by IMARC Group, titled “Smart Sensor Market Size: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026″ provide the global smart sensor market exhibited strong growth during 2015-2020 and expects the market to grow at a CAGR of around 15% during 2021-2026. The report provides a detailed analysis of the market by region, type and end user also, the report analyzes the market’s competitive landscape.
Base Year: 2020
Forecast Year: 2021-2026
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Smart Sensor Market Industry Definition and Application:
A smart sensor refers to an electronic device that performs predefined functions after receiving inputs from a particular environment. It incorporates the Internet of Things (IoT) and is used for measuring mass, pressure, temperature, speed, heat, etc. Some common variants of sensors include image, motion, position, touch, temperature, pressure, etc., which are used for configuration, verification, and communication of information. Smart sensors offer advanced functionalities, such as self-calibration, multiple sensing and computation capabilities, cloud-support, etc. As a result, they are widely used across various industries, such as healthcare, electronics, defense, aerospace, etc.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Smart Sensor Market Trends and Drivers:
Increasing digitization and the growing requirement for industrial automation are driving the smart sensor market. For instance, smart sensors are extensively used in automobiles for blind-spot detection, auto-braking, lane departure alerts, safety errors, etc. Furthermore, the elevating deployment of smart grids, smart cities, automated forest fire control, snow level monitoring, early earthquake detection systems, etc., is fueling the market growth. Additionally, various product innovations, such as cost-effective and printed or stick-on sensors, are also augmenting the market growth. These products can be attached to labels and devices to measure several physical parameters, including temperature, gas, humidity, etc. Besides this, the widespread adoption of smart sensors in wearable devices is anticipated to fuel the market growth in the coming years.
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Smart Sensor Market Segmentation:
The report has segmented the market on the basis on region, product and application.
Breakup by Type:
Breakup by End User:
Breakup by Region:
North America:( United States, Canada)
Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico,Others)
Middle East and Africa
Who are the Major Smart Sensor Market Key players?
The report provides a detailed analysis of the market leaders, including.
ABB Ltd., Analog Devices Inc., Eaton, Honeywell International Inc., Infineon Technologies AG, NXP Semiconductors, Renesas Electronics Corporation, Robert Bosch GmbH, Siemens AG, STMicroelectronics, TDK Corporation and Texas Instruments Incorporated.
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