NEW YORK, May 23, 2016 /PRNewswire/ -- "The increasing demand for smart sensor in consumer electronics would drive the smart sensor market"
The smart sensor market is expected to grow from USD 18.58 billion in 2015 to USD 57.77 billion by 2022, at a CAGR of 18.1% between 2016 and 2022. The studied market is primarily driven by factors such as growing concern toward security & surveillance, rising need for energy-efficient devices, growing consumer electronics sector, surge in automotive industry on a global basis, favorable government initiatives, and growing trend of miniaturization in sensors.
"MEMS-based smart sensor to gain maximum traction during the forecast period"
The market for MEMS-based smart sensor is expected to hold the largest share of the studied market during the forcast period. MEMS help smart sensor to work in a smarter way by allowing it to handle huge amounts of data in a fraction of seconds. The usual data that is recollected by the sensor is processed with the microprocessors, which, through advanced computation, clear or store the data. This type of technology makes these sensors more adaptable and enhances its self-calibration abilities.
"Americas expected to lead the global smart sensor market during the forecast period (2016–2022)"
The key players in the smart sensor market mostly operate in the Americas and APAC region to address the growing demand among the end–user industries toward smart sensors. The North American market is expected to hold the major market share between 2016 and 2022 owing to the growing demand for smart homes and IoT in the U.S., presence of major players in the region, early adoption of technology in the Americas, and growing automotive and consumer electronics industries in the region. The APAC market is expected to grow at the highest CAGR between 2016 and 2022.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of the profiles of primary participants is given below:
- By Company Type: Tier 1 – 52 %, Tier 2 – 20%, and Tier 3 – 28%
- By Designation: C-Level Executives – 35%, Directors – 25%, Others – 40%
- By Region: North America – 45%, Europe – 17%, APAC – 23%, RoW – 15%
The key smart sensor vendors profiled in the report are:
1. Analog Devices, Inc. (U.S.)
2. Infineon Technologies AG (Germany)
3. STMicroelectronics N.V. (Switzerland)
4. TE Connectivity, Inc. (U.S.)
5. Atmel Corporation (U.S.)
6. NXP Semiconductors N.V. (Netherlands)
7. ABB Ltd. (Switzerland)
8. Siemens AG (Germany)
9. InvenSense, Inc. (U.S.)
10. Robert Bosch GmbH (Germany)
11. Honeywell International Inc. (U.S.)
12. Eaton Corporation Plc (Ireland)
13. Emerson Electric Company (U.S.)
14. General Electric Company (U.S.)
15. Legrand S.A. (France)
16. Sensirion AG (Switzerland)
The report would help the market leaders/new entrants in this market in the following ways:
1. This report comprehensively segments the smart sensor market and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals, segments, and regions.
2. The report would help stakeholders to understand the pulse of the market and would provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to better understand the competitor and gain more insights to enhance their position in the business.
4. The competitive landscape section includes competitor ecosystem, new product develpoments, partnerships, and mergers and acquisitions.
5. It would help to gain detailed understanding of the Porter's five forces analysis of the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them.
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