Increasing incorporation of artificial intelligence technology in various industrial sectors for the automation of manufacturing and other processes and collaboration of smart sensors with consumer electronics have led to the increased penetration of advanced sensor technology on various electronic platforms. Market Research Future (MRFR) has published a report stating that the global intelligent sensors market is marked to expand remarkably at a CAGR of 18% during the forecast period of 2016-2022 and reach the valuation of USD 60 Bn by teh end of 2022.
Market Drivers and Restraints:
With increasing emphasis on automation of services and process in various industrial sectors, the demand for intelligent sensors is increasing, leading to the significant expansion of the global Intelligent Sensor Market. Rise in demand for intelligent sensors in automotive, aerospace, manufacturing and packaging, healthcare and other industries is majorly propelling the growth of the global intelligent sensor market.
Recent development in wearable medical devices that are embedded with advanced sensors and automation of healthcare sector are some other factors that are fueling the growth of the global intelligent sensor market. Rapid adoption of smart sensors to optimize the security surveillance in military and defense sector, various organizations and enterprises and also in smart homes, is impacting positively on the expansion of the global intelligent sensors market. However, low penetration of advanced technology in the underdeveloped regions is likely to pose a threat to the growth of the global intelligent sensor market during the forecast period.
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The prominent players in the market of Intelligent Sensor Market are – Custom Sensors & Technologies, Inc. (U.S.), Delphi Automotive LLP (U.K.), ABB Ltd. (Australia), Analog Devices, Inc.(U.S.), Honeywell International, Inc. (U.S.), Robert Bosch GmBH (Germany), Meggitt Sensing Systems (U.S.), Siemens AG (Germany), Yokogawa Electric Corporation (Japan) and Infineon Technologies AG (Germany) among others.
Intelligent Sensor Market – Segmentation
The global intelligent sensor market has been segmented on the basis of technology, type, output, and applications. These segments are further sub-segmented based on the following:
- Segmentation by technology: the intelligent sensor market is segmented into system on chip, system in package, hybrid technologies, CMOS process, and IC compatible 3D micro structuring
- Segmentation by type: this segmented is bifurcated into capacitive pressure centers and linear variable differential transformers
- Segmentation by output: this is further segmented into analog, digital, and quasi digital
- Segmentation by application: the application segment is further segmented into industrial, medical, automotive, consumer electronics, and infrastructure
- Segmentation by region: North America, Europe, Asia-Pacific and rest of the world
Intelligent Sensor Market Global Market – Regional Analysis
The regional analysis of intelligent sensor market is studied for North America, Europe, Asia-Pacific and rest of the world.
Developed nations such as Germany, UK, France, and Italy have witnessed advancements in healthcare standards along with growing infrastructure related to consumer electronics. This leads to higher utilization of sensors by manufacturers in the countries, resulting in the dominance of Europe in the intelligent sensor market during the forecast period. North America is expected to witness a positive growth in the market, owing to the advancements and frequent replacements of consumer electronics devices. Furthermore, countries such as Canada, US, and Mexico have rich manufacturers and IT industries which is a major factor influencing the growth on intelligent sensors during the forecast period.
China is among the biggest producers of semiconductor equipment in the world, which generates a greater demand for consumer electronic products. Hence, Asia-Pacific is predicted to experience a significant growth in the intelligent sensor market during the forecast period.
Industry/ Innovation/ Related News
May 16, 2019 – Lux Research Inc. (the US), a research and advisory firm, providing strategic advice and ongoing intelligence on emerging technologies presented its new research on enhanced AI analytics that is rapidly improving the capabilities of software-defined sensors. During the study, Lux Research established Artificial Intelligence’s (AI) role in unleashing intelligent sensing, identifying applications, and sensor types where AI is having the biggest impact.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Intelligent Sensors Market
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