Smart Sensor Market share to grow at 18% CAGR from 2016 to 2024

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Smart Sensor Market share to exceed 52bn by
2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Regional Analysis of Smart Sensor Market

• Asia Pacific smart sensor market share is
  expected to witness high growth prospects, owing
  to rising demand for tablets, notebooks and
  smartphones, across the region. Furthermore,
  rising investment in wireless technology may
  drive revenue. Evolution of growing energy
  conservation needs across counties such as China,
  India, South Korea, and Japan is predicted to
  impact positive regional growth over the forecast
  timeframe.

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• Application Analysis of Smart Sensor Market
• Increasing applications in various industries
  such as transport logistics, military,
  surveillance, and automotive is predicted to
  positively impact demand. In addition, favourable
  government initiatives and high reliability
  offered by these devices is projected to boost
  consumption. Notable growth barriers include
  smart sensor market price trend, and the lack of
  privacy as well as complex structure.
• The industry is anticipated to witness
  substantial growth across numerous applications
  sectors such as automotive, electronics,
  healthcare and textile. These products include
  integrated electronics that perform data
  conversion, bi-directional communication,
  decision execution and logical applications.
  Features such as wireless data transmission, ease
  of installation, signal conditioning, low cost,
  low power and small size are predicted to propel
  smart sensor market size. In addition, rising
  concern regarding surveillance security
  accompanied by rising demand for energy efficient
  devices is expected to drive revenue in the
  coming years.

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Competitive Market Share of Smart Sensor Market

• Autonomous (autopilot) driving technologies are
  being developed by Google and Tesla. ABB Ltd has
  developed a compact wireless sensor for low
  voltage induction motor which reduces motor
  downtime by upto 70, extend lifetime by 30 and
  lower the consumption by 10. It relays
  information about the motors health, via
  smartphone and over the internet, to a secure
  server. The solution would be initially launched
  in North America and would further be available
  for other regions.
• Key industry participants dominating smart sensor
  market size are Analog Devices, Infineon
  Technologies, STMicroelectronics N.V., Atmel
  Corporation, NXP Semiconductors N.V., Honeywell,
  General Electric, ABB Ltd., Invensense Inc.,
  Robert Bosch GmbH, Legrand SA, Sensirion AG,
  Emerson and Eaton.

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