Smart Sensor Market Size, Share & Analysis by 2028
The smart sensor market is expected to grow from US$ 31,731.1 million in 2021 to US$ 77,747.6 million by 2028. It is estimated to grow at a CAGR of 13.7% between 2021 to 2028.
Smart sensor is faster and more accurate than traditional sensors. These sensors are smaller and consume less power than conventional sensors. The use of smart sensors technology in IoT-based devices and consumers electronics and its application in the aerospace & defense, automotive, biomedical & healthcare, industrial automation, building automation, consumer electronics, education, robotics, agriculture, and transportation industries have attracted much interest in the past few years. The increase in usage of smart sensors across the applications is a key factor boosting the smart sensor market size.
With rising safety and security concerns, the demand for smart sensors in consumer electronics is increasing, impacting the smart sensor market. Various sensors, such as night vision IR sensors, sound sensors or microphones, and smart toilets, are used in home automation. Companies incorporate various features, such as automatic cleaning, automatic flushing, tank-leak monitoring, water overflow protection, and health monitoring, into their smart sensors. Lights and fans can be controlled with an automatic system that uses infrared or motion sensors.
Further, with the changing lifestyle and new modern standard of living thus, the demand for modular kitchens integrated with home automation is witnessing exponential growth, positively impacting the smart sensor market. Manufacturers are developing synthetic sensor-based devices to monitor vibration, kitchen sounds, light, gas, temperature, heat, and electromagnetic temperature and noise, increasing the the smart sensor market size. For instance, Analog Devices, Inc. offers HMC1126 GaAs pHEMT sensors. It is a low noise amplifier that operates at a range of 400 MHz-52 GHz and is used in several applications, such as microwave radios, very small aperture terminals (VSATs), test equipment, and 5G communication.
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Smart Sensor Market: Strategic Insights
Smart Sensor Market
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CAGR (2021 - 2028)
13.7%
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Market Size 2021
US$ 31.73 Billion
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Market Size 2028
US$ 77.75 Billion
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Analog Devices Inc
- Infineon Technologies Inc
- STMicroelectronics
- TE Connectivity
- Microchip Technologies
- NXP Semiconductor
- Siemens AG
- ABB Ltd
- Robert Bosch GmbH
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Technology
- MEMS
- CMOS
- Others
Type
- Temperature and Humidity Sensors
- Pressure Sensors
- Motion
- Others
End-use Industry
- Consumer Electronics
- Automotive
- Healthcare
- Manufacturing
- Retail
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Smart Sensor Market: Strategic Insights
-
CAGR (2021 - 2028)13.7% -
Market Size 2021
US$ 31.73 Billion -
Market Size 2028
US$ 77.75 Billion
Market Dynamics
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- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
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Key Players
- Analog Devices Inc
- Infineon Technologies Inc
- STMicroelectronics
- TE Connectivity
- Microchip Technologies
- NXP Semiconductor
- Siemens AG
- ABB Ltd
- Robert Bosch GmbH
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- MEMS
- CMOS
- Others
- Temperature and Humidity Sensors
- Pressure Sensors
- Motion
- Others
- Consumer Electronics
- Automotive
- Healthcare
- Manufacturing
- Retail
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Smart sensor technology has led to rapid technological advancements in smartphones and wearable devices. Automobile manufacturers are increasingly demanding smart sensors to improve safety and comfort. The use of wireless technology to monitor and control security devices equipped with smart sensors is becoming more common. Amid COVID-19, the surge in demand for smart sensor-enabled wearable devices, ongoing government support for green building construction, and predictive maintenance are offering lucrative opportunities for the smart sensor market players.
The rise in smartphone penetration has been substantially fuelling the smart sensor market growth. Smart sensors include popular sensors, such as motion, position, ambient light, accelerometer, and gyroscope. Specific Absorption Rate (SAR) sensors enhance connectivity for a wide range of wireless technologies, such as 5G sub-6/4G/Wi-Fi in smartphones, tablets, and laptops. SEMTECH, a leading semiconductor supplier, offers PerSeTM Connect, PerSe Connect Pro, and PerSe Control sensors, which can be used in various applications, such as smartphones, laptops, tablets, and wearables.
Many companies are developing new and advanced smart sensors that combine microcontrollers in a single package. Modern technologies, such as AI (Artificial Intelligence) and IoT, enable this combination within small packaging. For instance, Bosch Sensortec's BHA250 can combine a 32-bit microcontroller with a 14-bit acceleration sensor in a 2.2 x 2.2 x 0.95 mm3 package. Further, the TE Connectivity company has integrated sensors with connectors to pack functionality into a small space. These developments in smart sensor technology are positively impacting the smart sensor market growth. With the growth in the consumer electronic industry, such as in smart beverage vending machines, smart home automation systems, simple computers, digital assistants (such as Alexa), and human wearable devices, the demand for smart sensors has increased in the smart sensor market. Traditional consumer products, such as laptops, smartphones, and televisions, continue to exceed expectations as consumers continue to adopt new and emerging products, including wearables, voice-activated smart speakers, and smart home devices.
According to multiple studies, tens of billions of IoT devices will connect to the Internet in the coming years, which will greatly impact the smart sensors market. COVID-19 is driving urban resilience and digital transformation strategy agendas as city governments adjust to a new reality.
Impact of COVID-19 Pandemic on Smart Sensor Market
Impact of COVID-19 Pandemic on Smart Sensor Market
The emergence of COVID-19 has brought the need to harness and leverage digital infrastructure for remote patient monitoring into sharp focus. Due to the slow development of current viral tests and vaccines, it has been determined that a greater need exists for more robust disease detection and monitoring of individual and population health, which wearable sensors could aid. While the utility of this technology has been used to correlate physiological metrics to daily living and human performance, it is still necessary to apply it to predict the occurrence of COVID-19.
The growing demand for energy-saving devices is driving up market demand for smart sensors in the smart sensors market in North America. Companies are shifting towards energy-efficient energy-saving equipment, as the changing scenario necessitates energy-efficient equipment and products. Further, sensor demand in the smart sensor market has increased across a variety of industries with the lifting of governments' stringent regulations, which are gaining traction in automation industries. In addition, the demand for sensors in the automotive sector is being driven by the desire to reduce the average weight of a car. Lightweight automobiles aid in both fuel efficiency and energy optimization.
Smart Sensor Market Report Scope
Report Attribute
Details
Market size in 2021
US$ 31.73 Billion
Market Size by 2028
US$ 77.75 Billion
Global CAGR (2021 - 2028)
13.7%
Historical Data
2019-2020
Forecast period
2022-2028
Segments Covered
By Technology - MEMS
- CMOS
- Others
By Type - Temperature and Humidity Sensors
- Pressure Sensors
- Motion
- Others
By End-use Industry - Consumer Electronics
- Automotive
- Healthcare
- Manufacturing
- Retail
- Others
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key company profiles
- Analog Devices Inc
- Infineon Technologies Inc
- STMicroelectronics
- TE Connectivity
- Microchip Technologies
- NXP Semiconductor
- Siemens AG
- ABB Ltd
- Robert Bosch GmbH
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Attribute | Details |
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Market size in 2021 | US$ 31.73 Billion |
Market Size by 2028 | US$ 77.75 Billion |
Global CAGR (2021 - 2028) | 13.7% |
Historical Data | 2019-2020 |
Forecast period | 2022-2028 |
Segments Covered |
By Technology
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Regions and Countries Covered | North America
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Market leaders and key company profiles |
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Smart Sensor Market Segmentation
Based on technology, the smart sensor market is segmented into MEMS, CMOS, and Others. In 2021, the MEMS segment led the market. Based on type, the smart sensor market is segmented into temperature & humidity sensors, pressure sensors, motion sensors, position sensors, and others. In 2021, the temperature & humidity sensors segment accounted for the largest market share. Based on end-use industry, the smart sensor market is segmented into consumer electronics, automotive, healthcare, manufacturing, retail, and others.
Analog Devices Inc., Infineon Technologies Inc., STMicroelectronics, TE Connectivity, Microchip Technologies, NXP Semiconductor, Siemens AG, ABB Ltd., Robert Bosch GmbH, and Honeywell International are among the key smart sensor market players. In addition to these, several other players were analyzed to understand the overall dynamics of the global smart sensor market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology, Type, and End-use Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The Internet of Things (IoT) has accelerated the evolution of sensors to new heights. With the industry 4.0-powered cyber-physical transformation of manufacturing industries, many production facilities are taking up smart sensors. IoT platforms use a variety of sensors to deliver intelligence and data, allowing devices to function autonomously and the entire ecosystem to become more intelligent. Devices share information and improve their efficiency and functionality by combining a set of sensors and a communication network. The demand for IoT is growing in various industrial verticals, which, in turn, is supporting the growth of the smart sensor market.
In 2021, the market for temperature & humidity sensors held the largest market share. The demand for dependable, high-performance, low-cost sensors is growing, fueling the development of new technologies such as micro-and nanotechnology. Stick-on or printed sensors can be attached to equipment as labels to measure physical factors such as humidity, temperature, and gas pressure. Because of their inexpensive cost, compact size, and ease of use, the sensors are widely used in various sectors, including automobiles, homes, medical devices, the environment, food processing, and chemical. A temperature sensor's primary application is in a smart thermostat, a smart home device. Because of significant consumer interest, incremental technology breakthroughs, and increased accessibility, the total market for smart homes is expected to expand fast. Analog Devices, Inc., STMicroelectronics, TE Connectivity Corporation, Microchip Technology Inc., NXP Semiconductors, and other firms provide a wide range of temperature and humidity sensors to the global market.
MEMS is expected to dominate the smart sensor market during the forecast period. MEMS uses small miniaturized electromechanical and mechanical systems of actuators, sensors, and microelectronics. This technology is expected to continue to dominate the market for smart sensors in the coming years and to be the fastest-growing technology during the forecast period, owing to the numerous benefits it provides, including fast operations, high reliability, improved accuracy, easy maintenance, and replacement, and low energy and material consumption. This technology enables the sensor to perform intelligently by allowing them to store a significant quantity of data in the blink of an eye. The typical data obtained by the sensor is processed by the microprocessor, which erases or saves the data based on an advanced computation. The primary benefits of MEMS technology are reduced energy and material consumption, higher repeatability, increased accuracy, and increased sensitivity and selectivity. The MEMS segment is expected to have the most significant CAGR during the anticipated period. It is due to the increased use of IoT and wearable devices such as smartwatches. Smartwatches include tiny sensors, which contributes to an increase in the demand for MEMS technology for use in these devices. As a result, rising sales of smartwatches are likely to increase demand for MEMS technology throughout the forecasted period. Furthermore, the growing preference for smart homes would fuel the need for MEMS technology throughout the forecast period.
Many automotive manufacturers are coming up with new intelligent vehicles. They are more inclined toward cutting-edge smart sensors. APAC is expected to be the most important market for smart sensors vendors over the coming years in the automotive, infrastructure, consumer electronics, and pharmaceuticals industries, with China, India, and Japan demonstrating a significantly high demand. As the global manufacturing hub for various industries, including semiconductor and automotive, which produce home appliances, smartphones, computers, and peripheral devices, China's manufacturing sector has seen massive growth over the last few years. As a result, an enormous increase in the production and sale of sensing devices can be seen in this region. Long-range low-power wide-area network (LPWAN) technologies, such as NB-IoT, LoRa, LTE-M, and Sigfox, are fueling IoT vehicle connectivity innovation. LPWANs for IoT sensors allow low-power devices to wirelessly stream data packets over longer distances, as required in the automotive industry.
APAC dominated the smart sensor market in 2020. The APAC's vertical growth in the automotive, infrastructure, consumer electronics, and pharmaceuticals industries has positively impacted the smart sensor market. As the global manufacturing hub for various industries, such as semiconductor—which produces home appliances, smartphones, computers, and peripheral devices—and automotive, China's and India’s manufacturing sectors have seen massive growth. Consequently, an enormous increase in the sale and production of sensing devices can be seen in APAC. The growing population, low cost of smart sensors, the prominent existence of several manufacturing facilities, and rapid technological advancements in emerging markets are further contributing to the growth of the APAC smart sensor market.
Best-in-class sensors are highly secure and designed for indoor occupant analytics and energy savings, providing unprecedented precision in occupant detection, count, and movements and accurate reading of ambient lighting and motion sensing. These smart sensors can work as standalone devices or be integrated into other infrastructure appliances, such as thermostats or lighting fixtures, in keeping with the edge computing approach. As these intelligent building sensors can perform all analytics in-house, images are never stored or transmitted over the network, ensuring that occupants' privacy is fully protected. Biosensors and electronic, chemical, and smart grid sensors are in high demand in smart cities.
The List of Companies - Smart Sensor Market
- Analog Devices Inc.
- Infineon Technologies Inc.
- STMicroelectronics
- TE Connectivity
- Microchip Technologies
- NXP Semiconductor
- Siemens AG
- ABB Ltd.
- Robert Bosch GmbH
- Honeywell International Inc.