Smart Sensors Market Forecasts to 2030 – Global Analysis By Sensor Type (Temperature & Humidity Sensors, Pressure Sensors, Flow Sensors, Touch Sensors, Image Sensors and Other Sensor Types), Technology (MEMS, CMOS, Optical Spectroscopy, Microsystem Techno

Smart Sensors Market Forecasts to 2030 – Global Analysis By Sensor Type (Temperature & Humidity Sensors, Pressure Sensors, Flow Sensors, Touch Sensors, Image Sensors and Other Sensor Types), Technology (MEMS, CMOS, Optical Spectroscopy, Microsystem Technology (MST) and Other Technologies), Component (Analog-to-Digital Converters (ADC), Digital-to-Analog Converters (DAC), Transceivers, Amplifiers, Microcontrollers and Other Components), Application (Animal and Agriculture Tracking, Flood and Water Level Monitoring, Industrial Applications, Traffic Monitoring and Control and Other Applications), End User and By Geography


According to Stratistics MRC, the Global Smart Sensors Market is accounted for $47.34 billion in 2023 and is expected to reach $184.82 billion by 2030 growing at a CAGR of 21.48% during the forecast period. Smart sensors are gadgets that gather information from the outside world, process it before sending it, and use internal computing power to carry out predetermined actions when specific inputs are identified. Smart sensors make it possible to collect environmental data more accurately and automatically, with less error-causing noise interfering with the information that is accurately collected. The Internet of Things (IoT) is an increasingly popular environment where almost anything imaginable can be provided with a unique identity and the ability to transmit data via the Internet or a similar network. The smart sensor is an essential component of the IoT.

According to the India Brand and Equity Foundation, in India, the 'Smart City Mission' was given a total investment budget of US$28.31 billion in 2020.

Market Dynamics

Driver

Increasing demand for smart sensors in consumer electronics and IoT-based devices

The global Smart Sensors market expected to drive growth during the forecast period. The development of sensors has advanced significantly thanks to the Internet of Things. The IoT platforms deliver intelligence and data using a variety of sensors, enabling devices to operate independently and the ecosystem as a whole to become smarter. Devices share information and enhance their effectiveness and functionality by combining a set of sensors and a communication network. In 2020, the consumer market will account for about 60% of all IoT-connected devices, with IoT devices being used in all kinds of industry verticals and consumer markets.

Restraint

High cost of smart sensor installation and maintenance

The global Smart Sensors market expected to hinder growth during the forecast period, due to the high cost of the sensors due to their expensive components and batteries, the deployment 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 poor radio range and the use of technologies 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 costs.

Opportunity

Increased demand for smart wearables with sensors

The global Smart Sensors market expected to drive growth during the forecast period. Wearable technology typically includes smart sensors and an internet connection for data transmission, logging, and analysis. Wearable technology is used to monitor a variety of biometric factors, including body temperature and heart rate. Users are embracing this technology to improve their overall health and fitness, particularly for medical and fitness tracking purposes, which is causing a rapid increase in the adoption of various wearable devices. Smart sensors are used in a variety of products, including smart textiles, headbands, and neckwear. They are also used in ring- and finger-worn scanners, athletic, fitness, and sports shoes, wristwear, advanced electronic watches, and wristbands. These devices have smart sensors built in to transmit health-related information about the patient to a caregiver or healthcare provider so that the patient can receive quick medical attention at a lower cost.

Threat

Demanding performance standards from cutting-edge sensor applications

The global Smart Sensors market expected to hamper growth during the forecast period. As the sensor parameters vary depending on the end use or application, ensuring accuracy in the measurement and sensing performance of smart sensors is a key challenge for the growth of this market. Critical applications in industrial automation companies (chemicals, oil & gas, textile) have different requirements, such as the higher level of accuracy required in this industry. On the other hand, building automation applications like access control, HVAC, and RFID demand constant oversight and management. As a result, manufacturers must adhere to strict standards based on end-use applications. This problem is further complicated by volume discounting in the case of inexpensive sensors.

Covid-19 Impact

The COVID-19 pandemic has had an impact on the market for smart sensors by raising demand for specific sensor types, like temperature and occupancy sensors, in order to monitor and manage the virus's spread. Production delays and supply chain disruptions have resulted from it, though, as it has also affected the manufacturing processes and supply chains of sensor manufacturers. The inability to obtain certain parts and raw materials required for the manufacture of sensors has also been impacted by factory closures and trade restrictions. Despite these difficulties, it is anticipated that the market for smart sensors will eventually rebound due to rising demand in a variety of industries, including healthcare, automotive, and industrial automation, as well as the growing popularity of the Internet of Things (IoT) and Industry 4.0.

The MEMS (Micro-Electromechanical Systems) technology segment is expected to be the largest during the forecast period

Over the anticipated period, MEMS (Micro-electrical mechanical systems) technology is anticipated to hold the largest market share for smart sensors. This technology enables the sensor to function intelligently by allowing it to store a sizable amount of data in the span of a single eyeblink. Prior to either erasing it or storing it based on a complex calculation, the microprocessor processes the typical data collected by the sensor. One of the primary benefits of MEMS technology is its reduced energy and material consumption. Other benefits include improved reproducibility, increased precision, and increased sensitivity and selectivity.

The touch sensor segment is expected to have the highest CAGR during the forecast period

During the forecast period, the touch sensor segment is anticipated to have the highest CAGR. The physical contact or embrace of an object or device may be recorded and captured by a touch sensor. It allows for the detection of touch or proximity, usually from a human user or operator, allowing a machine. With touch-sensitive input devices, there are countless options for novel interaction techniques. They can also be used to replace mechanical switches and buttons and reduce mechanical wear and tear. These can be set for basic sliders, rotary wheels, or touch pads for user interfaces.

Region with largest share

APAC is anticipated to have the largest share in the smart sensor market during the forecast period. With the highest demand coming from China, India, and Japan, the automotive, infrastructure, consumer electronics, and pharmaceutical industries all use it as the top market for smart sensors. As the global manufacturing hub for a number of industries, including semiconductor and automotive, which produce home appliances, smartphones, computers, and peripheral devices, China's manufacturing sector has experienced tremendous growth. This has greatly increased the potential for manufacturing and selling sensing devices. Along with the noticeable presence of numerous manufacturing facilities, the low cost of smart sensors, and the swift technological advancements in emerging markets, the growth of the smart sensors market in this region.

Region with highest CAGR

The highest CAGR over the forecast period is anticipated to be in North America. Early adoption of cutting-edge technology and rising per capita income are credited for the region's growth. Furthermore, the region's market growth is anticipated to be fueled by the rising demand for smart sensors from a variety of industries, including oil and gas, transportation, and others. For instance, the US Energy Information Administration predicted in a report released in January 2023 that US crude oil production would average 12.4 million barrels per day in 2023 and 12.8 million in 2024, exceeding the previous year's record of 12.3 million barrels per day in 2019. Thus, over the anticipated period, demand for smart sensors will increase due to the growing exploration and production activities in the oil and gas industry.

Key players in the market

Some of the key players in Smart Sensors market include ABB Ltd., Amphenol Corporation, Broadcom Limited, Customer Sensor & Technologies Inc. , Emerson Process Management, GE Measurement & Control Solutions, Hitachi, Ltd., Honeywell International, Inc. , Microchip Technology Inc., Murata Manufacturing Co., Ltd., NXP Semiconductors N.V., Omron Corporation, Panasonic Corporation , Qualcomm Technologies, Inc., Robert Bosch GmbH, Rockwell Automation, Inc., Schneider Electric, Siemens AG, STMicroelectronics and Texas Instruments Incorporated.

Key Developments

In March 2023, the PCB-less pressure sensor line of Melexis, a multinational microelectronics engineering company, now includes two additional products. Relative pressure sensors, such as the MLX90823 and MLX90825, can be employed in gauge mode. They measure the pressure difference between the two sides of the sensor, as opposed to absolute pressure sensors. These factory-calibrated instruments were made to measure pressure between 0.1 and 1.5 bars.

In February 2023, Henkel, a leading provider of material technologies worldwide, introduced a cutting-edge sensor experience kit designed specifically for IoT engineering across industries. Four different printed electronics technologies are available in the unique Henkel Qhesive Solutions Sensor INKxperience Kit, which comes pre-configured with hardware and software for prototype and engineering ideation. The kit, which was created for professional engineers, enables them to investigate and experiment with the technology of printed electronics for the creation of IOT sensor solutions rapidly and effectively.

In January 2023, Elliptic Labs, a global AI software company and the world leader in AI Virtual Smart Sensors introduced AI Virtual Distance Sensor, the recent addition to its AI Virtual Smart Sensor Platform. With the help of the AI Virtual Distance Sensor, which is a software-only solution, devices may dynamically measure their distance from one another and provide relative location detection.

Sensor Types Covered
• Temperature & Humidity Sensors
• Pressure Sensors
• Flow Sensors
• Touch Sensors
• Image Sensors
• Turbidity Sensor
• Motion & Occupancy Sensors
• Water Sensors
• Gas Sensor
• Position Sensors
• Light Sensors
• Ultrasonic Sensors
• Electrical Conductivity Sensors
• Gesture Sensors
• Radar Sensors
• Magnetic Field Sensors
• Oxidation-Reduction Potential (ORP) Sensors
• Other Sensor Types

Technologies Covered
• MEMS (Micro-Electromechanical Systems)
• CMOS (Complementary Metal-Oxide Semiconductor)
• Optical Spectroscopy
• Microsystem Technology (MST)
• IC-compatible 3D micro-structuring
• Hybrid Sensing
• Other Technologies

Components Covered
• Analog-to-Digital Converters (ADC)
• Digital-to-Analog Converters (DAC)
• Transceivers
• Amplifiers
• Microcontrollers
• Microprocessors
• Transistors
• Frequency-to-Digital Converters
• Transducers
• Other Components

Applications Covered
• Animal and Agriculture Tracking
• Flood and Water Level Monitoring
• Industrial Applications
• Traffic Monitoring and Control
• Remote System Monitoring and Equipment Fault Diagnostics
• Transport and Logistics
• Environmental Monitoring
• Other Applications

End Users Covered
• Aerospace & Defense
• Automotive
• Avionics
• Biomedical & Healthcare
• Industrial Automation
• Building Automation
• Consumer Electronics
• Food and Beverages
• Education
• Infrastructure
• Robotics
• Agriculture
• Transportation
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Smart Sensors Market, By Sensor Type
5.1 Introduction
5.2 Temperature & Humidity Sensors
5.3 Pressure Sensors
5.4 Flow Sensors
5.5 Touch Sensors
5.6 Image Sensors
5.7 Turbidity Sensor
5.8 Motion & Occupancy Sensors
5.9 Water Sensors
5.10 Gas Sensor
5.11 Position Sensors
5.12 Light Sensors
5.13 Ultrasonic Sensors
5.14 Electrical Conductivity Sensors
5.15 Gesture Sensors
5.16 Radar Sensors
5.17 Magnetic Field Sensors
5.18 Oxidation-Reduction Potential (ORP) Sensors
5.19 Other Sensor Types
6 Global Smart Sensors Market, By Technology
6.1 Introduction
6.2 MEMS (Micro-Electromechanical Systems)
6.3 CMOS (Complementary Metal-Oxide Semiconductor)
6.4 Optical Spectroscopy
6.5 Microsystem Technology (MST)
6.6 IC-compatible 3D micro-structuring
6.7 Hybrid Sensing
6.8 Other Technologies
7 Global Smart Sensors Market, By Component
7.1 Introduction
7.2 Analog-to-Digital Converters (ADC)
7.3 Digital-to-Analog Converters (DAC)
7.4 Transceivers
7.5 Amplifiers
7.6 Microcontrollers
7.7 Microprocessors
7.8 Transistors
7.9 Frequency-to-Digital Converters
7.10 Transducers
7.11 Other Components
8 Global Smart Sensors Market, By Application
8.1 Introduction
8.2 Animal and Agriculture Tracking
8.3 Flood and Water Level Monitoring
8.4 Industrial Applications
8.5 Traffic Monitoring and Control
8.6 Remote System Monitoring and Equipment Fault Diagnostics
8.7 Transport and Logistics
8.8 Environmental Monitoring
8.9 Other Applications
9 Global Smart Sensors Market, By End User
9.1 Introduction
9.2 Aerospace & Defense
9.3 Automotive
9.4 Avionics
9.5 Biomedical & Healthcare
9.6 Industrial Automation
9.7 Building Automation
9.8 Consumer Electronics
9.9 Food and Beverages
9.10 Education
9.11 Infrastructure
9.12 Robotics
9.13 Agriculture
9.14 Transportation
9.15 Other End Users
10 Global Smart Sensors Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 ABB Ltd.
12.2 Amphenol Corporation
12.3 Broadcom Limited
12.4 Customer Sensor & Technologies Inc.
12.5 Emerson Process Management
12.6 GE Measurement & Control Solutions
12.7 Hitachi, Ltd.
12.8 Honeywell International, Inc.
12.9 Microchip Technology Inc.
12.10 Murata Manufacturing Co., Ltd.
12.11 NXP Semiconductors N.V.
12.12 Omron Corporation
12.13 Panasonic Corporation
12.14 Qualcomm Technologies, Inc.
12.15 Robert Bosch GmbH
12.16 Rockwell Automation, Inc.
12.17 Schneider Electric
12.18 Siemens AG
12.19 STMicroelectronics
12.20 Texas Instruments Incorporated
List of Tables
Table 1 Global Smart Sensors Market Outlook, By Region (2021-2030) ($MN)
Table 2 Global Smart Sensors Market Outlook, By Sensor Type (2021-2030) ($MN)
Table 3 Global Smart Sensors Market Outlook, By Temperature & Humidity Sensors (2021-2030) ($MN)
Table 4 Global Smart Sensors Market Outlook, By Pressure Sensors (2021-2030) ($MN)
Table 5 Global Smart Sensors Market Outlook, By Flow Sensors (2021-2030) ($MN)
Table 6 Global Smart Sensors Market Outlook, By Touch Sensors (2021-2030) ($MN)
Table 7 Global Smart Sensors Market Outlook, By Image Sensors (2021-2030) ($MN)
Table 8 Global Smart Sensors Market Outlook, By Turbidity Sensor (2021-2030) ($MN)
Table 9 Global Smart Sensors Market Outlook, By Motion & Occupancy Sensors (2021-2030) ($MN)
Table 10 Global Smart Sensors Market Outlook, By Water Sensors (2021-2030) ($MN)
Table 11 Global Smart Sensors Market Outlook, By Gas Sensor (2021-2030) ($MN)
Table 12 Global Smart Sensors Market Outlook, By Position Sensors (2021-2030) ($MN)
Table 13 Global Smart Sensors Market Outlook, By Light Sensors (2021-2030) ($MN)
Table 14 Global Smart Sensors Market Outlook, By Ultrasonic Sensors (2021-2030) ($MN)
Table 15 Global Smart Sensors Market Outlook, By Electrical Conductivity Sensors (2021-2030) ($MN)
Table 16 Global Smart Sensors Market Outlook, By Gesture Sensors (2021-2030) ($MN)
Table 17 Global Smart Sensors Market Outlook, By Radar Sensors (2021-2030) ($MN)
Table 18 Global Smart Sensors Market Outlook, By Magnetic Field Sensors (2021-2030) ($MN)
Table 19 Global Smart Sensors Market Outlook, By Oxidation-Reduction Potential (ORP) Sensors (2021-2030) ($MN)
Table 20 Global Smart Sensors Market Outlook, By Other Sensor Types (2021-2030) ($MN)
Table 21 Global Smart Sensors Market Outlook, By Technology (2021-2030) ($MN)
Table 22 Global Smart Sensors Market Outlook, By MEMS (Micro-Electromechanical Systems) (2021-2030) ($MN)
Table 23 Global Smart Sensors Market Outlook, By CMOS (Complementary Metal-Oxide Semiconductor) (2021-2030) ($MN)
Table 24 Global Smart Sensors Market Outlook, By Optical Spectroscopy (2021-2030) ($MN)
Table 25 Global Smart Sensors Market Outlook, By Microsystem Technology (MST) (2021-2030) ($MN)
Table 26 Global Smart Sensors Market Outlook, By IC-compatible 3D micro-structuring (2021-2030) ($MN)
Table 27 Global Smart Sensors Market Outlook, By Hybrid Sensing (2021-2030) ($MN)
Table 28 Global Smart Sensors Market Outlook, By Other Technologies (2021-2030) ($MN)
Table 29 Global Smart Sensors Market Outlook, By Component (2021-2030) ($MN)
Table 30 Global Smart Sensors Market Outlook, By Analog-to-Digital Converters (ADC) (2021-2030) ($MN)
Table 31 Global Smart Sensors Market Outlook, By Digital-to-Analog Converters (DAC) (2021-2030) ($MN)
Table 32 Global Smart Sensors Market Outlook, By Transceivers (2021-2030) ($MN)
Table 33 Global Smart Sensors Market Outlook, By Amplifiers (2021-2030) ($MN)
Table 34 Global Smart Sensors Market Outlook, By Microcontrollers (2021-2030) ($MN)
Table 35 Global Smart Sensors Market Outlook, By Microprocessors (2021-2030) ($MN)
Table 36 Global Smart Sensors Market Outlook, By Transistors (2021-2030) ($MN)
Table 37 Global Smart Sensors Market Outlook, By Frequency-to-Digital Converters (2021-2030) ($MN)
Table 38 Global Smart Sensors Market Outlook, By Transducers (2021-2030) ($MN)
Table 39 Global Smart Sensors Market Outlook, By Other Components (2021-2030) ($MN)
Table 40 Global Smart Sensors Market Outlook, By Application (2021-2030) ($MN)
Table 41 Global Smart Sensors Market Outlook, By Animal and Agriculture Tracking (2021-2030) ($MN)
Table 42 Global Smart Sensors Market Outlook, By Flood and Water Level Monitoring (2021-2030) ($MN)
Table 43 Global Smart Sensors Market Outlook, By Industrial Applications (2021-2030) ($MN)
Table 44 Global Smart Sensors Market Outlook, By Traffic Monitoring and Control (2021-2030) ($MN)
Table 45 Global Smart Sensors Market Outlook, By Remote System Monitoring and Equipment Fault Diagnostics (2021-2030) ($MN)
Table 46 Global Smart Sensors Market Outlook, By Transport and Logistics (2021-2030) ($MN)
Table 47 Global Smart Sensors Market Outlook, By Environmental Monitoring (2021-2030) ($MN)
Table 48 Global Smart Sensors Market Outlook, By Other Applications (2021-2030) ($MN)
Table 49 Global Smart Sensors Market Outlook, By End User (2021-2030) ($MN)
Table 50 Global Smart Sensors Market Outlook, By Aerospace & Defense (2021-2030) ($MN)
Table 51 Global Smart Sensors Market Outlook, By Automotive (2021-2030) ($MN)
Table 52 Global Smart Sensors Market Outlook, By Avionics (2021-2030) ($MN)
Table 53 Global Smart Sensors Market Outlook, By Biomedical & Healthcare (2021-2030) ($MN)
Table 54 Global Smart Sensors Market Outlook, By Industrial Automation (2021-2030) ($MN)
Table 55 Global Smart Sensors Market Outlook, By Building Automation (2021-2030) ($MN)
Table 56 Global Smart Sensors Market Outlook, By Consumer Electronics (2021-2030) ($MN)
Table 57 Global Smart Sensors Market Outlook, By Food and Beverages (2021-2030) ($MN)
Table 58 Global Smart Sensors Market Outlook, By Education (2021-2030) ($MN)
Table 59 Global Smart Sensors Market Outlook, By Infrastructure (2021-2030) ($MN)
Table 60 Global Smart Sensors Market Outlook, By Robotics (2021-2030) ($MN)
Table 61 Global Smart Sensors Market Outlook, By Agriculture (2021-2030) ($MN)
Table 62 Global Smart Sensors Market Outlook, By Transportation (2021-2030) ($MN)
Table 63 Global Smart Sensors Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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