Global Smart/Intelligent Sensors Market Size, Trends & Growth Opportunity and, By Sensor Type (Temperature & Humidity Sensors, Pressure Sensors, Flow Sensors, Touch Sensors, Image Sensors, Motion & Occupancy Sensors, Water Sensors, Position Sensors, Light Sensors, and Ultrasonic Sensors) By Technology (MEMS, CMOS, and Others) By Component (Analog-to-Digital Converters (ADC), Digital-to-Analog Conv

Global Smart/Intelligent Sensors Market

The Global Smart/Intelligent Sensors Market is expected to grow from US$ 42.09 Billion in 2021 to US$ 104.5 Billion by 2027; it is estimated to grow at a CAGR of 17.9% from 2021 to 2027.

Drivers: The development of sensors has reached a completely new level thanks to the Internet of Things. The IoT platforms use a range of sensors to deliver insight and data, enabling gadgets to operate independently and the ecosystem as a whole to grow smarter. Devices share information and enhance their functionality and efficacy by integrating a network of sensors and a communication system. Consumer markets and other business verticals both employ IoT devices, with the consumer market expected to account for over 60% of all IoT-connected devices by 2020. The market for smart sensors for IoT-connected devices will grow as a result of all these causes.

Restraints: Due to the high cost of the sensors due to their expensive components and batteries, the implementation of smart sensors has been restricted. These batteries have a shorter lifespan and are depleted more quickly because of the energy demands of the sensors and wireless network. Last but not least, because of the energy requirements of the sensors and wireless link, as well as the weak radio range and the usage of technology intended for short-range applications, there is a limited amount of battery life. The potential for fusing signal processing intelligence with a network or sensing technologies is included in the implementation expenses.

Impact of Covid-19

The WHO has deemed it a public health emergency as the disease has spread to nearly 110 countries worldwide since the outbreak. Due to flight cancellations, quarantine and travel restrictions, restricted events, and temporary production facility closures, sales of Smart/Intelligent Sensors have decreased.

Industry 4.0 adoption is accelerating due to the COVID-19 outbreak, which is driving businesses from all sectors into a more advanced state of IoT technology and workflow using sensors that have an impact on production, maintenance with altered service intervals, human resources with new job requirements, and marketing with new and in-depth knowledge of customers' individual use cases.

Segmentation By Sensor Type: The Global Smart/Intelligent Sensors Market is classified on the basis of Sensor Type into Temperature & Humidity Sensors, Pressure Sensors, Flow Sensors, Touch Sensors, Image Sensors, Motion & Occupancy Sensors, Water Sensors, Position Sensors, Light Sensors, and Ultrasonic Sensors. The greatest market in 2021 was that for intelligent pressure sensors. The market for pressure sensors is primarily driven by the rise in safety, comfort, and emission-reduction considerations for vehicles.

Segmentation By Technology: The Global Smart/Intelligent Sensors Market is classified on the basis of Technology into MEMS, CMOS, and Others In 2021, it is predicted that the market for MEMS technology-based sensors would hold the greatest part of the overall smart Sensors market. Small, miniature electromechanical and mechanical systems, including actuators, sensors, and microelectronics, are used in MEMS.

Segmentation By Component: Global Smart/Intelligent Sensors Market is classified on the basis of Component into Analog-to-Digital Converters (ADC), Digital-to-Analog Converters (DAC), Transceivers, Amplifiers, Microcontrollers, and Others

Segmentation By Region: Smart/Intelligent Sensors Market is classified on the basis of Region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape: The key players of Smart/Intelligent Sensors Market are Siemens AG, Honeywell, Analog Devices, Inc., Infineon Technologies, STMicroelectronics, TE Connectivity, Microchip Technology, NXP Semiconductors, Robert Bosch GmbH, ABB Ltd., and Eaton Corporation.

Industrial Development

• Honeywell introduced a new software solution in June 2020 to assist industrial facility operators and safety managers in tracking workers' exposure to gas, weather, and certain physiological parameters in real-time to aid in incident prevention and swift emergency response. Additionally, Honeywell started testing sensors in flight that would direct urban air mobility (UAM) vehicles to land on their own. Honeywell sensors and cameras aboard the testing aircraft scan visual marks that resemble QR codes and direct the vehicle to a predetermined landing location.
• June 2020 - As a "new normal" emerges in the wake of the global COVID-19 outbreak, Salesforce and Siemens AG have combined their workplace management solutions in a new IoT package to assist firms in reopening following lockdown and embracing new workplace norms. The idea is to offer improved space management solutions using IoT-based sensors, sense-making tools, and user apps in the social media manner.

Market Taxonomy

By Sensor Type

• Temperature & Humidity Sensors
• Pressure Sensors
• Flow Sensors
• Touch Sensors
• Image Sensors
• Motion & Occupancy Sensors
• Water Sensors
• Position Sensors
• Light Sensors
• Ultrasonic Sensors

By Technology

• MEMS
• CMOS
• Others

By Component

• Analog-to-Digital Converters (ADC)
• Digital-to-Analog Converters (DAC)
• Transceivers
• Amplifiers
• Microcontrollers
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Smart/Intelligent Sensors Market?
• What will be the growth rate from 2020 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?