Smart Sensor Market size forecast to reach USD 52 billion by 2024

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Smart Sensor Market size is forecast to reach USD
52 billion at 18 CAGR from 2016 to 2024 Global
Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
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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.
• Europe smart sensor market is projected to
  experience considerable growth due to presence of
  leading automobile manufacturers such as
  Volkswagen, BMW and Mercedes-Benz.
• U.S. smart sensor market share is leading the
  industry and is also expected to continue its
  dominance over the forecast period due to early
  adoption paired with growing demand for smart
  homes.

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Application Analysis of Smart Sensor Market

• 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.
• 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.

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Competitive Market Share of Smart Sensor Market

• 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.
• 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.

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Sensor Market _at_ https//www.gminsights.com/industr
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https//www.gminsights.com/roc/678
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