The global smart sensor market is expected to witness high growth during the forecast period due to increasing demand in the automotive and consumer electronics industries.
The factors such as growing concern towards security & surveillance, up surging consumer electronics sector, favourable government initiatives, growth in automotive industry, increasing need for energy-efficient appliances, and growing trend of miniaturization in the sensors segment are expected to boost the growth of market during the forecast period.
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Based on sensor type, the smart pressure sensor is expected to hold the largest market during the forecast period, as this category has wide utilization in automotive, industrial, healthcare, and consumer electronics industries. Based on technology, MEMS-based smart sensor is expected to hold the largest share in the smart sensor market during 2016-2022.
Smart sensors are defined as the combination of a sensor with signal conditioning, embedded algorithms and digital interface. Smart sensors are also termed as intelligent sensors and are basically used for digital processing of signals such as voice, audio, video, temperature, pressure, or position to provide decision making for an individual/machinery on the basis of mathematical manipulation.
Among the end-user industries of smart sensors, the consumer electronics industry is expected to be the largest user of smart sensors during 2016-2022. Also, the smart sensor market is expected to witness highest growth in consumer electronics industry during the forecast period.
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The key players in the global smart sensor market are ABB LTD., Customer Sensor Technologies Inc., Analog Devices Inc., Eaton Corporation Plc., Honeywell International Inc., NXP Semiconductors, Infineon Technologies AG, Emerson Process Management, STMicroelectronics, TE Connectivity Ltd., Legrand S.A, Sensirion AG, Siemens AG, General Electric, InvenSense, Inc., Atmel Corporation and NXP Semiconductors N.V.
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