[250 Pages Report] The global smart sensor market reached around US$ 37.6 Billion in 2022. However, with growing adoption of smart sensors across diverse end-use verticals such as consumer electronics, automotive, security & defense and healthcare, the overall sales of smart sensors are projected to rise at a prolific CAGR of around 19.2% between 2022 and 2032, totaling a valuation of over US$ 88 Billion by 2032.
| Report Attributes | Details |
|---|---|
| Estimated Base Year Value (2021) | US$ 36.8 Billion |
| Expected Market Value (2022) | US$ 37.6 Billion |
| Anticipated Forecast Value (2032) | US$ 88 Billion |
| Projected Growth Rate (2022 to 2032) | 19.2% CAGR |
Smart sensors are intelligent devices that capture data from environments and transform their physical properties such as temperature, speed, and pressure into measurable electrical signals. The electric signals are then processed by a microprocessor to initiate further actions. They are highly sensitive to any change and take some predefined action when they sense the appropriate input.
Smart sensors enable more accurate and automated collection of environmental data and are mostly used for monitoring and control mechanisms in a wide range of environments such as smart grids, security systems, flood and water level monitoring, fault detection in equipment, and several other applications. Increasing usage of smart sensors for these applications will continue to generate sales prospects during the forecast period.
The rising penetration of internet of things (IoT) and industry 4.0 has put smart sensor technology into the spotlight. These sensors are integrated with IoT for measuring temperature, mass, speed, pressure and heat. They are being widely used across multiple industries on account of their self-calibration, cloud support and multiple sensing capabilities.
Rapid advancements in semiconductor technology and growing demand for consumer electronics have a profound impact on the smart sensor market. Various types of smart sensors including touch sensors, flow sensors, smart temperature sensor and Smart Position Sensor are available in the market. These sensors find their usage in majority of modern consumer appliances including smartphones, intelligent lighting systems, security cameras, wearables etc. Rise in sales of these electronic products will directly boost the growth of smart sensor market.
Moreover, rising demand for MEMS technology in smart sensors will further accelerate the market growth. MEMS technology helps smart sensors to handle massive amounts of data in a fraction of seconds. Adoption of MEMS technology thus makes these smart sensors more flexible and facilitates their self-calibration capabilities.
Rapid digitalization, rising security and surveillance concerns, surging demand for consumer electronics, exponential growth of end use verticals and growing trend of miniaturization are some of the major factors driving the smart sensor market.
Smart sensors have become the heart of modern technology in the contemporary world. They have gained immense traction across industries such as consumer electronics and automotive. Right from autobraking and blind spot detection in vehicles to navigation systems in smartphones, smart sensors have become talk of the town.
They are being increasingly adopted in automated vehicles, wearables, lighting systems, security systems, medical devices etc. for monitoring and diagnostic purposes. Smart sensors have the ability to detect switch failures, open coils and sensor contamination. Increasing penetration of automation across industries will continue to spur the sales of smart sensors in the future.
Governments across the world are investing large amounts in smart technologies for developing smart cities as well as for addressing environmental challenges. Moreover, growing trend of smart homes is anticipated to provide a strong push to the growth of smart sensors market. These devices are being extensively employed in automatic doors, smoke and fire detectors, and security systems.
Similarly widespread adoption of smart sensors in wearable devices and growing demand for smart temperature sensors in numerous applications will generate lucrative opportunities for the market players during the forecast period.
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Despite exceptional growth of smart sensors market, there are various factors that are acting as impediments for the market growth. Some of these factors are lack of privacy, high replacement rates and deployment cost, complex structure, and lack of customization.
Asia Pacific spearheaded by China and India, is forecast to emerge as the most lucrative market for smart sensors, owing to rapid industrialization, presence of leading consumer electronics manufacturers, strong economic development and growing adoption of smart sensors in defense and automotive industries.
Over the last few years China become a global leader in the production and consumption of electronic products. In fact, the industry (electronics) forms a key pillar of the country’s economy. Electronics manufacturers across the country are increasingly adopting smart sensors in majority of advanced products.
Similarly, rapid growth of end use industries across India is creating opportunities for the manufacturers of smart sensors. The country is witnessing enormous demand for smart electronic products such as smartphones, wearables, motion detectors, security alarms etc.
Moreover, robust expansion of residential sector due to rapid urbanization and increasing populations will continue to support the growth of smart sensors market in Asia Pacific region during the forecast period.
Principal Consultant
According to Future Market Insights, Western Europe dominated the global smart sensor market in 2022, owing to increasing penetration of automation, rising demand for electronic devices with advanced features and the rapid adoption of smart sensors in a multitude of applications.
Countries such as Germany and the United Kingdom are experiencing huge demand for smart sensors due to increasing production and sales of consumer electronics. These sensors are being increasingly integrated into fire detection systems, security alarm systems, autonomous vehicles, wearables, and several other motion monitoring and diagnostic appliances.
Majority of factories across Western Europe use smart temperature sensors to monitor the overheating of machines and equipment. This helps them to protect their assets from any damage. Rising sales of these smart temperature sensors is one of the major forces triggering the growth in the Western Europe market.
Some of the key participants present in the global smart sensor market include ABB LTD., Analog Devices Inc., Customer Sensor & Technologies Inc., Eaton Corporation Plc., NXP Semiconductors, Honeywell International, Inc., Infineon Technologies AG, Emerson Process Management.
These prominent players are investing vigorously in research and development activities for launching new innovative products with efficient features. Moreover, they are using various strategies such as price reduction acquisitions, new facility establishments, partnerships, and collaborations to penetrate attractive markets.
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| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 19.2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, Application, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | ABB LTD; Analog Devices Inc.; Customer Sensor & Technologies Inc.; Eaton Corporation Plc.; NXP Semiconductors; Honeywell International, Inc.; Infineon Technologies AG; Emerson Process Management |
| Customization | Available Upon Request |
By Type:
By Application:
By Region:
FMI projects the global smart sensor market to expand at a 19.2% value CAGR by 2032
With rapid industrialization and growing adoption of smart sensors in consumer electronics, Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period.
ABB LTD., Analog Devices Inc., Customer Sensor & Technologies Inc., Eaton Corporation Plc., NXP Semiconductors, Honeywell International, Inc., Infineon Technologies AG are some prominent smart sensor manufacturers
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. Value Chain Analysis
3.5.1. Profit Margin Analysis
3.5.2. Service Providers
3.6. PESTLE and Porter’s Analysis
3.7. Regulatory Landscape
3.7.1. By Key Regions
3.7.2. By Key Countries
3.8. Regional Parent Market Outlook
4. Global Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) Analysis By Type, 2017-2021
5.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Type, 2022-2032
5.3.1. Temperature
5.3.2. Force/Pressure Sensor
5.3.3. Acceleration
5.3.4. Flow
5.3.5. Position
5.3.6. Light Intensity
5.3.7. Touch Sensor
5.3.8. Others (Dissolved Oxygen Sensor)
5.4. Y-o-Y Growth Trend Analysis By Type, 2017-2021
5.5. Absolute $ Opportunity Analysis By Type, 2022-2032
Deep-dive segmentation will be available in the sample on request
6. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Component
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Mn) Analysis By Component, 2017-2021
6.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Component, 2022-2032
6.3.1. Microprocessor
6.3.2. Sensing Unit
6.3.3. Memory
6.3.4. Communication Module (RFID, Transceiver)
6.3.5. Battery
6.3.6. Others (Analog to Digital Converter, Amplifiers etc.)
6.4. Y-o-Y Growth Trend Analysis By Component, 2017-2021
6.5. Absolute $ Opportunity Analysis By Component, 2022-2032
Deep-dive segmentation will be available in the sample on request
7. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Vertical
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Mn) Analysis By Vertical, 2017-2021
7.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Vertical, 2022-2032
7.3.1. Transportation
7.3.2. Consumer Electronics
7.3.3. Healthcare
7.3.4. Industrial Application
7.3.5. Avionics & Defence
7.3.6. Oil & Gas
7.3.7. Energy & Utility
7.3.8. Environment & Geotechnics
7.4. Y-o-Y Growth Trend Analysis By Vertical, 2017-2021
7.5. Absolute $ Opportunity Analysis By Vertical, 2022-2032
Deep-dive segmentation will be available in the sample on request
8. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Mn) Analysis By Region, 2017-2021
8.3. Current Market Size Value (US$ Mn) Analysis and Forecast By Region, 2022-2032
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. East Asia
8.3.5. South Asia & Pacific
8.3.6. MEA
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2017-2021 and Forecast 2022-2032, By Country
9.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021
9.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
9.2.1. By Country
9.2.1.1. U.S.
9.2.1.2. Canada
9.2.2. By Type
9.2.3. By Component
9.2.4. By Vertical
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Type
9.3.3. By Component
9.3.4. By Vertical
9.4. Key Takeaways
10. Latin America Market Analysis 2017-2021 and Forecast 2022-2032, By Country
10.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021
10.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
10.2.1. By Country
10.2.1.1. Mexico
10.2.1.2. Brazil
10.2.1.3. Rest of Latin America
10.2.2. By Type
10.2.3. By Component
10.2.4. By Vertical
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Type
10.3.3. By Component
10.3.4. By Vertical
10.4. Key Takeaways
11. Europe Market Analysis 2017-2021 and Forecast 2022-2032, By Country
11.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021
11.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. Italy
11.2.1.3. France
11.2.1.4. U.K.
11.2.1.5. Spain
11.2.1.6. BENELUX
11.2.1.7. Russia
11.2.1.8. Rest of Europe
11.2.2. By Type
11.2.3. By Component
11.2.4. By Vertical
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Type
11.3.3. By Component
11.3.4. By Vertical
11.4. Key Takeaways
12. East Asia Market Analysis 2017-2021 and Forecast 2022-2032, By Country
12.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021
12.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
12.2.1. By Country
12.2.1.1. China
12.2.1.2. Japan
12.2.1.3. South Korea
12.2.2. By Type
12.2.3. By Component
12.2.4. By Vertical
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Type
12.3.3. By Component
12.3.4. By Vertical
12.4. Key Takeaways
13. South Asia & Pacific Market Analysis 2017-2021 and Forecast 2022-2032, By Country
13.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021
13.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
13.2.1. By Country
13.2.1.1. India
13.2.1.2. ASEAN
13.2.1.3. Australia and New Zealand
13.2.1.4. Rest of South Asia & Pacific
13.2.2. By Type
13.2.3. By Component
13.2.4. By Vertical
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Type
13.3.3. By Component
13.3.4. By Vertical
13.4. Key Takeaways
14. MEA Market Analysis 2017-2021 and Forecast 2022-2032, By Country
14.1. Historical Market Size Value (US$ Mn) Trend Analysis By Market Taxonomy, 2017-2021
14.2. Market Size Value (US$ Mn) Forecast By Market Taxonomy, 2022-2032
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. Turkey
14.2.1.3. South Africa
14.2.1.4. Rest of MEA
14.2.2. By Type
14.2.3. By Component
14.2.4. By Vertical
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Type
14.3.3. By Component
14.3.4. By Vertical
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. U.S.
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2021
15.1.2.1. By Type
15.1.2.2. By Component
15.1.2.3. By Vertical
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2021
15.2.2.1. By Type
15.2.2.2. By Component
15.2.2.3. By Vertical
15.3. Mexico
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2021
15.3.2.1. By Type
15.3.2.2. By Component
15.3.2.3. By Vertical
15.4. Brazil
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2021
15.4.2.1. By Type
15.4.2.2. By Component
15.4.2.3. By Vertical
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2021
15.5.2.1. By Type
15.5.2.2. By Component
15.5.2.3. By Vertical
15.6. Italy
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2021
15.6.2.1. By Type
15.6.2.2. By Component
15.6.2.3. By Vertical
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2021
15.7.2.1. By Type
15.7.2.2. By Component
15.7.2.3. By Vertical
15.8. U.K.
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2021
15.8.2.1. By Type
15.8.2.2. By Component
15.8.2.3. By Vertical
15.9. Spain
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2021
15.9.2.1. By Type
15.9.2.2. By Component
15.9.2.3. By Vertical
15.10. BENELUX
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2021
15.10.2.1. By Type
15.10.2.2. By Component
15.10.2.3. By Vertical
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2021
15.11.2.1. By Type
15.11.2.2. By Component
15.11.2.3. By Vertical
15.12. China
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2021
15.12.2.1. By Type
15.12.2.2. By Component
15.12.2.3. By Vertical
15.13. Japan
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2021
15.13.2.1. By Type
15.13.2.2. By Component
15.13.2.3. By Vertical
15.14. South Korea
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2021
15.14.2.1. By Type
15.14.2.2. By Component
15.14.2.3. By Vertical
15.15. India
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2021
15.15.2.1. By Type
15.15.2.2. By Component
15.15.2.3. By Vertical
15.16. ASEAN
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2021
15.16.2.1. By Type
15.16.2.2. By Component
15.16.2.3. By Vertical
15.17. Australia and New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2021
15.17.2.1. By Type
15.17.2.2. By Component
15.17.2.3. By Vertical
15.18. GCC Countries
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2021
15.18.2.1. By Type
15.18.2.2. By Component
15.18.2.3. By Vertical
15.19. Turkey
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2021
15.19.2.1. By Type
15.19.2.2. By Component
15.19.2.3. By Vertical
15.20. South Africa
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2021
15.20.2.1. By Type
15.20.2.2. By Component
15.20.2.3. By Vertical
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Type
16.3.3. By Component
16.3.4. By Vertical
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. ABB LTD.
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. Analog Devices, Inc.
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. AuthenTec, Inc.
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Colibrys
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. Eaton Corporation
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. Gira Giersiepen Gmbh & Co. Kg
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. Honeywell international Inc.
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. Airmar Technology Corporation
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. NXP Semiconductors
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
17.1.10. Siemens AG
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.10.5.2. Product Strategy
17.1.10.5.3. Channel Strategy
17.1.11. Smart Sensors, inc.
17.1.11.1. Overview
17.1.11.2. Product Portfolio
17.1.11.3. Profitability by Market Segments
17.1.11.4. Sales Footprint
17.1.11.5. Strategy Overview
17.1.11.5.1. Marketing Strategy
17.1.11.5.2. Product Strategy
17.1.11.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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