Smart Sensors Market by Component, Technology, Application, Sensor Type, End User, and Geography- Global Forecast to 2030

Description

List of Tables

Smart Sensors Market by Component (Transceivers, Amplifiers), Technology (Optic, Ultrasonic), Application (Remote Monitoring, Wearable Devices), Sensor Type (Image Sensors, Pressure Sensors), End User (Automotive, Retail, BFSI), and Geography- Global Forecast to 2030

The research report titled, 'Smart Sensors Market by Component (Transceivers, Amplifiers), Technology (Optic, Ultrasonic), Application (Remote Monitoring, Wearable Devices), Sensor Type (Image Sensors, Pressure Sensors), End User (Automotive, Retail, BFSI), and Geography- Global Forecast to 2030', provides an in-depth analysis of the smart sensors market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2030.

The global smart sensors market is projected to reach $137.6 billion by 2030, at a CAGR of 16.3% from 2024 to 2030.

The growth of this market is driven by the growing demand for smart sensors in IoT-based devices, increasing demand for smart sensor-enabled wearable devices, and higher demand for smart sensors in the healthcare and automotive industries. The increasing demand for consumer electronics products and the increasing use of smart sensors for industrial automation are expected to offer significant growth opportunities for the stakeholders in the smart sensors market. The high installation & maintenance cost of smart sensors may restrain the market's growth. Furthermore, regulatory compliance and data security and privacy concerns are expected to pose challenges to the growth of the smart sensors market.

The smart sensors market is segmented by component(analog-to-digital converter, digital to analog converter, transceivers, amplifiers, microcontrollers, other components [microprocessors, transducers and frequency to digital converters]), technology(micro electronic mechanical systems, complementary metal-oxide semiconductor, capacitive, doppler, inductance, optic, ultrasonic, other technologies), application (environmental monitoring, remote monitoring, predictive maintenance, inventory management, advanced driver assistance systems, wearable devices, precision agriculture, livestock monitoring, traffic monitoring and controlling, building and infrastructure, and other applications), sensor type(temperature & humidity sensors, pressure sensors, flow sensors, proximity sensors, image sensors, motion & occupancy sensors, water sensors, position sensors, light sensors, ultrasonic sensors, other sensors), and end user (manufacturing, agriculture, retail, BFSI, logistics and transportation, aerospace & defense, automotive, biomedical & healthcare, industrial automation, building automation, consumer electronics, other end user). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on component, the smart sensors market is segmented into analog-to-digital converters, digital-to-analog converters, transceivers, amplifiers, microcontrollers, and other components. In 2024, the analog-to-digital converter segment is expected to account for the largest share of the smart sensors market. The large market share of this segment is attributed to the growing need for high accuracy and precision in measurements, growing use of embedded processing capabilities to analyze digital data, increasing popularity of battery-powered or energy-efficient smart sensors, and increasing use of ADC in smart sensors to support calibration and self-diagnostics. Moreover, this segment is projected to register the highest CAGR during the forecast period.

Based on technology, the smart sensors market is segmented into microelectronic mechanical systems, complementary metal-oxide semiconductors, capacitive, doppler, inductance, optic, ultrasonic, and other technologies. In 2024, the micro-electronic mechanical systems segment is expected to account for the largest share of above 24.0% of the smart sensors market. The large market share of this segment is attributed to the increasing need for miniaturization of mechanical components, making it possible to create compact and lightweight sensors, the growing need to manufacture the sensing elements within smart sensors, the increasing need for high precision and accuracy, and growing need to develop power-efficient sensors.

The use of MEMS technology in smart sensors has led to more advanced and capable devices for monitoring and controlling various physical parameters in fields such as consumer electronics, healthcare, automotive, industrial automation, and environmental monitoring. Such rapid applications are supporting the growth of this segment. Moreover, this segment is projected to register the highest CAGR during the forecast period.

Based on application, the smart sensors market is segmented into environmental monitoring, remote monitoring, predictive maintenance, inventory management, advanced driver assistance systems, wearable devices, precision agriculture, livestock monitoring, traffic monitoring and controlling building and infrastructure, and other applications. In 2024, the wearable devices segment is expected to account for the largest share of above 26.0% of the smart sensors market. The large market share of this segment is attributed to the growing use of wearable devices for fitness tracking and health monitoring, growing use of wearable devices for chronic disease management, increasing adoption of wearable devices for safety and emergency response, increasing use of sensor-enabled wearables to track performance, optimize training, and reduce the risk of injury for sports person. Moreover, this segment is projected to register the highest CAGR during the forecast period.

Based on type, the smart sensors market is segmented into temperature & humidity sensors, pressure sensors, flow sensors, proximity sensors, image sensors, motion & occupancy sensors, water sensors, position sensors, light sensors, ultrasonic sensors, and other sensors. In 2024, the image sensors segment is expected to account for the largest share of above 16.0% of the smart sensors market. The large market share of this segment is attributed to the increasing adoption of image sensors for enhanced functionality, improved user experiences, and the ability to collect and process visual data for a wide range of applications, the rising need for the collection of visual data from the environment, increasing adoption of image sensors for quality control and inspection tasks, and growing use of image sensor in security and surveillance systems. Moreover, this segment is projected to register the highest CAGR during the forecast period.

Based on end user, the smart sensors market is segmented into manufacturing, agriculture, retail, BFSI, logistics and transportation, aerospace & defense, automotive, biomedical & healthcare, industrial automation, building automation, consumer electronics, and other end users. In 2024, the consumer electronics segment is expected to account for the largest share of above 22.0% of the smart sensors market. The large market share of this segment is attributed to the increasing integration of smart sensors into consumer electronics to enhance user experience, improve functionality, and enable new features, increasing adoption of wearable devices, growing popularity of smart TVs and streaming devices, and growing use of smart sensors in smart home devices. Moreover, this segment is projected to register the highest CAGR during the forecast period.

Based on geography, the smart sensors market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of above 41.0% of the smart sensors market. Asia-Pacific's major market share is attributed to the growing demand for smart sensors from China, Japan, India, South Korea, and Singapore; the growing use of smart sensors in manufacturing for process optimization, predictive maintenance, and quality control; the adoption of smart sensors for vehicle tracking, traffic management, and cargo monitoring; and increasing need of smart sensors for wearable health devices and telemedicine applications. Furthermore, several cities in the Asia-Pacific region, including Singapore, South Korea, and Japan, invested in smart city projects. Smart sensors are heavily deployed for traffic management, waste management, environmental monitoring, and public safety. These initiatives aimed to improve the quality of life in urban areas.

However, North America is projected to register the highest CAGR of 17.5% during the forecast period. The growth of this market is driven by the increasing proliferation of smart thermostats, lighting systems, security cameras, and other devices to improve energy efficiency, security, and overall convenience, growing use of smart sensors for advanced driver assistance systems (ADAS) and self-driving technologies, rising need of smart sensors to monitor soil conditions, weather data, and crop health, and increasing use of smart sensors for remote patient monitoring, and wearable devices. Many cities in North America are heavily investing in smart city initiatives, which involve the deployment of smart sensors for traffic management, waste management, energy efficiency, and public safety.

Key Players:

The key players operating in the smart sensors market are Analog Devices, Inc. (U.S.), Infineon Technologies AG (Germany), STMicroelectronics N.V. (Netherlands), Honeywell International Inc. (U.S.), General Electric Company (U.S.), EATON CORPORATION plc (Ireland), Robert Bosch GmbH (Germany), Siemens AG (Germany), ABB Ltd. (Switzerland), NXP SEMICONDUCTORS N.V. (Netherlands), Ambetronics Engineers Pvt. Ltd. (India), RPL Automation Pvt. Ltd. (India), Total Control & Automation Pvt. Ltd. (India), Vighnaharta Technologies Pvt. Ltd. (India), and Ecobee (Canada).

Key questions answered in the report-

Which are the high-growth market segments in terms of component, technology, application, sensor type, and end user?
What is the historical market size for smart sensors across the globe?
What are the market forecasts and estimates for 2024-2030?
What are the major drivers, restraints, opportunities, and challenges in the smart sensors market?
Who are the major players in the smart sensors market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the smart sensors market?
What are the different strategies adopted by the major players in the market?
What are the geographic trends and high-growth countries?
Who are the local emerging players in the smart sensors market, and how do they compete with other players?

Scope of the report:

Smart Sensors Market Assessment-by Type

Temperature & Humidity Sensors
Pressure Sensors
Flow Sensors
Proximity Sensors
Image Sensors
Motion & Occupancy Sensors
Water Sensors
Position Sensors
Light Sensors
Ultrasonic Sensors
Other Sensors

Smart Sensors Market Assessment-by Component

Analog-to-Digital Converter
Digital to Analog Converter
Transceivers
Amplifiers
Microcontrollers
Other Components

Smart Sensors Market Assessment-by Technology

Micro Electronic Mechanical Systems
Complementary Metal-Oxide Semiconductor
Capacitive
Doppler
Inductance
Optic
Ultrasonic
Other Technologies

Smart Sensors Market Assessment-by Application

Environmental Monitoring
Remote Monitoring
Predictive Maintenance
Inventory Management
Advanced Driver Assistance Systems
Wearable Devices
Precision Agriculture
Livestock Monitoring
Traffic Monitoring and Controlling
Building and Infrastructure
Other Applications

Smart Sensors Market Assessment-by End User

Manufacturing
Agriculture
Retail
BFSI
Logistics and Transportation
Aerospace & Defense
Automotive
Biomedical & Healthcare
Industrial Automation
Building Automation
Consumer Electronics
Other End Users

Smart Sensors Market Assessment-by Geography

North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Rest of Asia-Pacific
Latin America
Middle East & Africa

Product Code: MRICT - 1041026

1. Introduction

1.1 Market Definition
1.2 Market Ecosystem
1.3 Currency & Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
1.4 Key Stakeholders

2. Research Methodology

2.1 Research Approach
2.2 Process of Data Collection & Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3 Market Sizing and Forecast
- 2.3.1 Market Size Estimation Approach
- 2.3.2 Growth Forecast Approach
2.4 Assumptions for the Study

3. Executive Summary

3.1 Market Analysis, by Component
3.2 Market Analysis, by Technology
3.3 Market Analysis, by Application
3.4 Market Analysis, by Sensor Type
3.5 Market Analysis, by End User
3.6 Market Analysis, by Geography
3.7 Competitive Analysis

4. Market Insights

4.1 Introduction
4.2 Factors Affecting Market Growth
- 4.2.1 Drivers
  - 4.2.1.1 Growing Demand for Smart Sensors in IoT-based Devices
  - 4.2.1.2 Increasing Demand for Smart Sensor Enabled Wearable Devices
  - 4.2.1.3 Higher Demand for Smart Sensors in the Healthcare and Automotive Industries
- 4.2.2 Restraints
  - 4.2.2.1 High Installation & Maintenance Cost of Smart Sensors
- 4.2.3 Opportunities
  - 4.2.3.1 Increasing Demand for Consumer Electronics Products
  - 4.2.3.2 Increasing Use of Smart Sensors for Industrial Automation
- 4.2.4 Challenges
  - 4.2.4.1 Regulatory Compliance
  - 4.2.4.2 Data Security and Privacy Concerns

5. Smart Sensors Market Assessment-by Component

5.1 Overview
5.2 Analog-to-Digital Converter
5.3 Digital to Analog Converter
5.4 Transceivers
5.5 Amplifiers
5.6 Microcontrollers
5.7 Other Components

6. Smart Sensors Market Assessment-by Technology

6.1 Overview
6.2 Micro Electronic Mechanical Systems
6.3 Complementary Metal-Oxide Semiconductor
6.4 Capacitive
6.5 Doppler
6.6 Inductance
6.7 Optic
6.8 Ultrasonic
6.9 Other Technologies

7. Smart Sensors Market Assessment-by Application

7.1 Overview
7.2 Environmental Monitoring
7.3 Remote Monitoring
7.4 Predictive Maintenance
7.5 Inventory Management
7.6 Advanced Driver Assistance Systems
7.7 Wearable Devices
7.8 Precision Agriculture
7.9 Livestock Monitoring
7.10 Traffic Monitoring and Controlling
7.11 Building and Infrastructure
7.12 Other Applications

8. Smart Sensors Market Assessment-by Sensor Type

8.1 Overview
8.2 Temperature & Humidity Sensors
8.3 Pressure Sensors
8.4 Flow Sensors
8.5 Proximity Sensors
8.6 Image Sensors
8.7 Motion & Occupancy Sensors
8.8 Water Sensors
8.9 Position Sensors
8.10 Light Sensors
8.11 Ultrasonic Sensors
8.12 Other Sensors

9. Smart Sensors Market Assessment-by End User

9.1 Overview
9.2 Manufacturing
9.3 Agriculture
9.4 Retail
9.5 BFSI
9.6 Logistics and Transportation
9.7 Aerospace & Defense
9.8 Automotive
9.9 Biomedical & Healthcare
9.10 Industrial Automation
9.11 Building Automation
9.12 Consumer Electronics
9.13 Other End User

10. Smart Sensors Market Assessment-by Geography

10.1 Overview
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 Germany
- 10.3.2 U.K.
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Rest of Europe
10.4 Asia-Pacific
- 10.4.1 China
- 10.4.2 Japan
- 10.4.3 India
- 10.4.4 South Korea
- 10.4.5 Singapore
- 10.4.6 Rest of Asia-Pacific
10.5 Latin America
10.6 Middle East & Africa

11. Competition Analysis

11.1 Overview
11.2 Key Growth Strategies
11.3 Competitive Benchmarking
11.4 Competitive Dashboard
- 11.4.1 Industry Leaders
- 11.4.2 Market Differentiators
- 11.4.3 Vanguards
- 11.4.4 Emerging Companies
11.5 Market Share Analysis

12. Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)

12.1 Analog Devices, Inc.
12.2 Infineon Technologies AG
12.3 STMicroelectronics N.V.
12.4 Honeywell International Inc.
12.5 General Electric Company
12.6 EATON CORPORATION plc
12.7 Robert Bosch GmbH
12.8 Siemens AG
12.9 ABB Ltd.
12.10 NXP SEMICONDUCTORS N.V.
12.11 Ambetronics Engineers Pvt. Ltd.
12.12 RPL Automation Pvt. Ltd.
12.13 Total Control & Automation Pvt. Ltd.
12.14 Vighnaharta Technologies Pvt. Ltd.
12.15 Ecobee

(Note: SWOT Analysis of the Top 5 Companies Will Be Provided)

13. Appendix

13.1 Available Customization
13.2 Related Reports