Smart sensor market worth $104.5 billion by 2027, at a CAGR


Chicago, Aug. 25, 2022 (GLOBE NEWSWIRE) — Smart Sensors Market by Type (Temperature & Humidity Sensors, Pressure Sensor, Touch Sensor, Motion & Occupancy Sensors, Water Sensor, Image Sensor), Technology, End-User Industry and region (2022-2027)”, The major players in the Smart Sensors market are companies operating at different stages of the value chain. These include Analog Devices, Inc. (US), Infineon Technologies (Germany), STMicroelectronics (Switzerland), TE Connectivity (Switzerland), Microchip Technology (US), NXP Semiconductors (Netherlands) , Robert Bosch GmbH (Germany), Seimens AG (Germany), ABB Ltd. (Switzerland) and Eaton Corporation (Ireland). Many of these companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, expansions, acquisitions, and collaborations, to strengthen their market position.

  • Projected market – $104.5 billion by 2027
  • At a CAGR -17.9%
  • Market Size Available for Years – 2018-2027
  • Base year – 2021
  • Forecast Period – 2022-2027
  • Segments Covered –
  • Type, technology, component, end-user industry and region
  • Geographical regions covered – North America, APAC, Europe and RoW

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TE Connectivity (Switzerland): TE Connectivity (Switzerland) is a leading provider of connectivity and sensor solutions for various industries including automotive, energy, broadband communications, consumer devices, healthcare, aerospace and defense. TE Connectivity sells its products in more than 150 countries, primarily through direct-to-manufacturer sales efforts. Its market-leading portfolio of connectivity and sensor businesses gives it a significant competitive advantage. TE Connectivity is a leading provider of connectivity and sensor solutions for the automotive, energy, broadband communications, consumer devices, healthcare, aerospace and defense. The company has an established brand in the market for various operating segments including measurement and analytics. Its global footprint, backed by strong local capabilities, helps achieve consistent growth and results throughout the business cycle. It also allows the company to seize profitable global growth opportunities.

Analog Devices, Inc. (USA): Analog Devices, Inc. (USA) is a world leader in the design, manufacture and marketing of a broad portfolio of analog, mixed-signal and digital signal processing (DSP) integrated circuits (ICs). ) high performance. The company is well known for its innovation and comprehensive product offerings. It invests heavily in R&D activities and its diverse customer base helps the company deliver sustainable performance in the cyclical industry, enabling it to improve its overall business. The company’s strong product portfolio helps it meet the changing needs of its customers and provides it with a significant competitive advantage.

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The Internet of Things has taken the evolution of sensors to a whole new level. IoT platforms deliver information and data using a variety of sensors, allowing devices to operate autonomously and the entire ecosystem to become smarter. By combining a set of sensors and a communication network, the devices share information and improve their efficiency and functionality. IoT devices are used in all types of industry and consumer verticals with the consumer segment accounting for approximately 60% of all IoT-connected devices in 2020. All these factors will drive the smart sensor market for IoT connected devices.

The deployment of smart sensors has been limited due to the high cost of sensors due to their expensive components and batteries. Due to the energy requirements of the sensors and the wireless network, the limited life of these batteries which are consumed at a faster rate. Finally, due to the energy needs of the sensors and the wireless link; and low radio range, the use of technologies designed for short-range applications, and limited battery life. Implementation costs include the potential for integrating sensing technologies with network or signal processing intelligence.

Wearable devices usually have smart sensors and are connected to the internet to transmit, record or analyze data. Wearable devices are used to track several biometric parameters, such as heart rate and body temperature. The adoption of various wearable devices is increasing rapidly as users embrace this technology to improve their fitness and overall health, especially for fitness tracking and medical purposes. They are used in applications such as smart glasses/masks; ring/finger-worn scanners; shoes such as athletic, fitness and sports shoes; bracelets such as advanced electronic watches and bracelets; smart textiles; and smart sensors for headbands and ties are used. These devices are integrated with smart sensors to send patient health information to a caregiver or medical professional so that these patients get prompt medical help at a reduced cost.

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Temperature Sensor Market by system (smart payment systems, smart vending machines), application (pedestrian traffic monitoring, inventory management), retail offering (fast moving consumer goods, durable and leisure goods) and geography – global forecasts up to in 2025


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