Market Scenario
Intelligent Sensor is a device which has capabilities such self-learning of and adaptability. It can be used for auto correction of errors from input end as well as output end. It also holds capabilities such as self-testing, self-validation and self-identification which makes it different from other similar devices. Need of energy efficient devices in the application area’s such as industrial medial and in consumer electronics are the major factor for the growth of Intelligent Sensor Market. Also, growth in the MEMS technologies and sensors with bus capabilities and embedded processing is also expected to drive the market of intelligent sensor whereas factors such as high price of raw materials and high replacement cost are some of the restraints of the market.
Smart Sensors Market is expected to grow from USD 18 billion in 2017 to USD 47.20 billion by 2027, at a compound annual growth rate (CAGR) of 12% during the forecast period.
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Key Players:
The prominent players in the market of Intelligent Sensor Market are – Custom Sensors & Technologies, Inc. (U.S.), Delphi Automotive LLP (U.K.), ABB Ltd. (Australia), Analog Devices, Inc.(U.S.), Honeywell International, Inc. (U.S.), Robert Bosch GmBH (Germany), Meggitt Sensing Systems (U.S.), Siemens AG (Germany), Yokogawa Electric Corporation (Japan) and Infineon Technologies AG (Germany) among others.
Segmentation
The industry for Intelligent Sensor is fragmented by technology, by output, by applications and by regions. Technology is divided by system on chip, system in package, hybrid technologies, CMOS process and IC compatible 3D micro structuring. The output can be categorized as analog, digital and quasi digital among others. The application segmented by industrial, medical, automotive, consumer electronics. Out of these, medical and automotive sector will grow in coming years.
The regional analysis of Intelligent Sensor Market is being studied for areas such as Asia Pacific, North America, Europe and rest of the world. North America lead the global market, followed by Europe.
In Asia-Pacific, Australia is witnessing fastest growth in the market, consumers in this countries are more interested in buying the latest gadgets, and price does not matter. Even the countries such as China and India is generating new opportunities for the consumer electronic products which is expected to fuel the market in this region.
Regional Analysis
The regional analysis of Intelligent Sensor Market is being studied for areas such as Asia Pacific, North America, Europe and rest of the world. The Europe region is expected to dominate the global intelligent sensor market owing to the factors such as improving infrastructure in the European countries such as Germany, France, Italy and U.K. among others and advancements in healthcare standards. North America will experience a growth owing to the factors such as frequent replacements of electronic devices and the increase in the demand of advanced features in consumer electronics device. Rich manufacturing and IT industry in U.S. and Canada is also one of the major factor which is driving the market of Intelligent Sensor in North America. The Asia-Pacific region is expected to see a significant growth in the market of intelligent sensors. Countries such as China and India is generating huge demand for the consumer electronic products which is expected to drive the market of intelligent sensor in this region. Also, China is one of the biggest producer of semiconductor equipment leading to high demand for the intelligent sensor from manufacturing industry.
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Intended Audience
- Component Manufacturers
- Electronic components
- Government bodies
- Research organizations
- Chip designers
- Equipment manufacturers
- Electronic manufacturers
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