Smart Sensor Market Size, Share | Industry Growth by 2027



The global smart sensor market was valued at $37,124.5 million in 2019, and is projected to reach $143,657.6 million by 2027, registering a CAGR of 18.6% from 2020 to 2027.

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The smart sensor market is currently in its growth stage and is expected to register substantial growth in the near future, attributed to the high investment in R&D activities by market players and focus of society toward Internet of Things (IoT). Other factors that drive the market growth include increase in demand for automobile & electronics and development of smart cities.

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Key Findings of The Study
• This study includes the analytical depiction of the smart sensor market forecast along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information regarding the key drivers, restraints, and opportunities in the smart sensor market.
• The smart sensor market trends is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry. Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Covid-19 scenario-
• The outbreak of the pandemic has increased the demand for online banking services, as shutdown of physical branches has led to shift of consumers toward online platforms.
• Also, the growing drift of social distancing has reinforced the incorporation of electronic payment system among consumers.

Smart Sensor Market Segmentation
By Type
• Touch Sensor
• Image Sensor
• Temperature Sensor
• Motion Sensor
• Position Sensor
• Gas Sensor
• Light Sensor
• Pressure Sensor
• Others
• Uncooled IR Camera
By End Use
• Automotive
• Consumer Electronics
• Industrial
• Infrastructure
• Healthcare
• Others

The key smart sensor market leaders profiled in the report include ABB Ltd., Analog Devices, Eaton, Honeywell, Infineon Technologies, NXP Semiconductors N.V., Renesas Electronics, Siemens, STMicroelectronics, and Texas Instruments. These key players adopt several strategies such as new product launch & development, acquisition, partnership &collaboration, and business expansion to increase the smart sensor market share during the forecast period.

Chapters Discussed in the Report:
Chapter: 1 Introduction
Chapter: 2 Executive Summary
Chapter: 3 Market Overview
Chapter: 4 World Smart Sensor Market, By Sensor Type
Chapter: 5 World Smart Sensor Market, By End User
Chapter: 6 World Smart Sensor Market, By Geography
Chapter: 7 Company Profiles