Global Smart Sensor Market 2024-2028

Global Smart Sensor Market 2024-2028
The smart sensor market is forecasted to grow by USD 51427.89 mn during 2023-2028, accelerating at a CAGR of 12.74% during the forecast period. The report on the smart sensor market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand for smart temperature sensors, increasing implementation of smart sensors in various manufacturing industries, and rise in demand for smart sensors in the development of smart cities.

Technavio's smart sensor market is segmented as below:

By TypePressure sensorTemperature and humidity sensorFlow sensorTouch sensorOthersBy ApplicationAutomotiveIndustrial automationConsumer electronicsOthersBy GeographyAPACEuropeNorth AmericaSouth AmericaMiddle East and AfricaThis study identifies the increase in partnership and M and A by the vendors in the market as one of the prime reasons driving the smart sensor market growth during the next few years. Also, rising demand for smart sensors by automobile manufacturers and an increase in demand for micro-electro-mechanical systems (MEMS) technology in smart sensors will lead to sizable demand in the market.

The report on the smart sensor market covers the following areas:Smart sensor market sizingSmart sensor market forecastSmart sensor market industry analysisThe robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading smart sensor market vendors that include ABB Ltd., Airmar Technology Corp., Analog Devices Inc., Balluff GmbH, Eaton Corp. Plc, Emerson Electric Co., General Electric Co., Honeywell International Inc., Infineon Technologies AG, Legrand SA, Microchip Technology Inc., NXP Semiconductors NV, Robert Bosch GmbH, Sensirion AG, Siemens AG, STMicroelectronics International N.V., TDK Corp., Vishay Intertechnology Inc., TE Connectivity Ltd., and Texas Instruments Inc.. Also, the smart sensor market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.