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Smart Sensor Market to Witness Major Growth in Coming Years

Global Smart Sensors Market Report, published by Allied Market Research, forecasts that the global market is anticipated to account for $60 billion by 2022, growing at a CAGR of 19.2% from 2016 to 2022. Automotive industry dominated the smart sensors market in2015. In the same year, Europe led the global market, accounting for 32% market share.

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Smart Sensor Market to Witness Major Growth in Coming Years

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  1. Opportunity Analysis and Industry Forecast, 2016-2023 Smart Sensors Market Expected to Reach $60 Billion, Globally, by 2022 Global Opportunity Analysis and Industry Forecast, 2016-2023 • Pages: 120 Tables: 100 Charts: 35

  2. SMART SENSOR MARKET Global Smart Sensors Market Report, published by Allied Market Research, forecasts that the global market is anticipated to account for $60 billion by 2022, growing at a CAGR of 19.2% from 2016 to 2022. Automotive industry dominated the smart sensors market in2015. In the same year, Europe led the global market, accounting for 32% market share. Access Full Summary at:https://www.alliedmarketresearch.com/smart-sensors-market Smart sensors transmit data over all the available networks, and enable features such as digital processing, data conversion, and interaction with external devices. Such sensors hold significant importance in the current scenario, owing to the augmented usage across various application verticals such as consumer electronics, automotive, and healthcare. High cost of deployment and privacy concerns are expected to restrain the market growth. However, continuous efforts in R&D to develop improved product at reasonable price is an influencing factor for cost reduction, thereby boosting the growth of the sensor market.

  3. SMART SENSOR MARKET Key market players adopt various strategies to gain a stronger foothold in the market. Companies enter into various agreements and partnerships such as supply & sales agreements and plant manufacture partnerships to serve their customers in a better manner and increase their market outreach. Analog Devices, for instance, signed an agreement with LifeQ with an aim to improve effectiveness of body monitoring devices in health management in 2016. Request For Sample Report (PDF) @: https://www.alliedmarketresearch.com/request-sample/1861 In terms of revenue generation, the automotive end use application vertical accounted for the major market share with 23% in 2015, and is estimated to be dominant throughout the forecast period. This is attributed to increase in demand for vehicles, driver security measures, and introduction of advanced features by major automobile players.

  4. SMART SENSOR MARKET • Smart Sensors Market Key Findings: • In 2015, image sensors accounted for the major share of the market. • Automotive industry is expected to grow with the CAGR of 19.5%. • In 2015, touch sensors held the major market share, in terms of revenue generation, in Asia-Pacific, followed by image sensors. • The North American smart sensors market is expected to witness the fastest growth, in terms of CAGR from 2016 to 2022.

  5. SMART SENSOR MARKET Europe generates the highest revenue owing to rise in adoption of automotive, building, and consumer electronics along with wide acceptance of smart sensors. Europe accounted for 32% share of the overall market in 2015, and is expected to grow at a CAGR of 18.67% between 2016 and 2022. The major players profiled in this report include Infineon Technologies AG, ABB Ltd., NXP Semiconductors N.V., Yokogawa Electric Corp, Analog Devices, Siemens AG, Renesas Electronics, STMicroelectronics N.V., Eaton Corp, and Emerson Process Management. For More Enquiry About Report @: https://www.alliedmarketresearch.com/purchase-enquiry/1861 The smart sensors market is currently in its growth stage, with an expectation to register substantial growth in the near future attributed to high investments in R&D by the companies, and the growing inclination toward IOT. Other factors that drive the smart sensors market include increase in demand for automobile & electronics and development of smart cities. Moreover, increase in rate of terrorism activities and security issues further highlights the importance of smart sensor in counterterrorism application. However, lack of privacy, complex structure, high replacement, and deployment cost are projected to constraint the growth of the smart sensors market.

  6. SMART SENSOR MARKET • GLOBAL SMART SENSORS MARKET SEGMENTATION • By Type • Image sensors • Smart motion sensors • Smart position sensors • Smart pressure sensors • Smart temperature sensors • Touch sensors • By End User • Automotive industry • Consumer Electronics • Industrial • Infrastructure • Medical equipment • Others (Avionics, food & beverage)

  7. SMART SENSOR MARKET Thank You! For More Details Visit us at https://www.alliedmarketresearch.com/contact-us Follow Us On

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