A smart/intelligent sensor is a device, which acquires input in the form of physical, chemical or biological mode, converts the input into digital form and relays the output on a monitoring device. The smart/intelligent sensor market can be classified on the basis of the input it measures, as smart flow sensors, smart pressure sensors, smart temperature sensors, smart position sensors and smart load/force sensors. Classification is further possible on the basis of its application in automobiles, medical sector, industry, avionics, meteorology and aerospace. Geographically the market can be segmented into North America, Europe, Asia Pacific and Rest of the world.
The smart/intelligent sensor market is expected to grow at a CAGR of 9.8% from 2012-2018 and is expected to reach USD 6.9 billion by 2018. The largest market is Europe followed by North America. The highest growth is seen in the Asia Pacific region. The primary driver for the smart/intelligent sensor market is the growth of the automobile sector. The automobile sector is the largest end user for the smart/intelligent sensor. The constant innovation and the increase in the application areas of smart sensors are also propelling the growth of the market. The constant miniaturization of computers has made smart sensors into devices that can be used to replace human effort significantly with higher speed and accuracy.
Like all technological inventions, even the smart sensor market is affected by the cost factor. The reduction in the cost of the smart sensor installation so as to make the implementation of the technology feasible is a major hindrance. The recession in the global market is making the process of research and development a challenging task. Smart sensors can be used to replace almost all human sensory functions and in that sense can be used in all practical domains of life. Developing countries have started to use the smart/intelligent sensor in various domains, which provides for a large market. Also the increase in the applications of smart sensors by continual innovation would guide the market in a positive direction.
Some of the major players in this industry are Siemens AG (Germany), Motorola Solutions Inc, ABB, Analog Devices, Oceana Sensor Technologies and Custom Sensor and Technologies (CST).
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a technological growth map over time to understand the industry growth rate
- It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments