The Global Smart Sensor Market size is expected to reach $89. 9 billion by 2027, rising at a market growth of 12. 8% CAGR during the forecast period. An emerging and crucial technological development that allows superior control and monitoring of various operations is known as a smart sensor.
New York, May 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Smart Sensor Market By Type, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06073609/?utm_source=GNW
In order to detect physical input like moisture, light, motion, heat, pressure, or any other entity, and respond by generating an output on a display or send the information electronically for further processing using signal conditioning, integrated algorithms, and digital interface. These sensors can gather extremely precise environment data with the lowest noise level.
Smart sensors find potential applications in new-age IT solutions, like machine-to-machine communication and analytics, and to calculate fluctuations in terms of temperature or pressure acceleration that are crucial for a process. Smart cities, smart grids, and smart environments (forest fire control, snow level monitoring, and earthquake early detection); and defense, automobile, sports, and electronic sectors are increasingly installing these devices.
Due to the lockdown restrictions, the Asian and European countries have witnessed disruptions and significant decline in business and revenue, due to the closure of manufacturing facilities in these regions. The growth of the smart sensor market is declined as the activities of manufacturing and production industries have been hit hard by the COVID-19 pandemic. Due to the increasing aim of companies to cater to spurring demand for smart technologies driven by a fast acceleration in IoT-based infrastructures like smart grids and smart cities around the world, the smart sensor market would gain recovery in the next few years. Moreover, the global pandemic has encouraged numerous organizations to upgrade their framework with IoT-based advanced technology with an aim to continue their production activities if such kind of pandemic will again arise in the future.
Based on Type, the market is segmented into Image Sensor, Motion Sensor, Touch Sensor, Pressure Sensor, Temperature Sensor, Position Sensor, Light Sensor and Others. The humidity & temperature sensors type would witness maximum CAGR during the forecast period. Smart temperature sensors are utilized extensively in measurement control systems and instrumentation. Temperature sensors offer temperature readings that can be interpreted in a digital format and also simple to use in various applications like automotive, healthcare, and building automation.
End User Outlook
Based on End User, the market is segmented into Consumer Electronics, Automotive, Industrial, Healthcare, Infrastructural and Other. Due to growing competition among leading players, the consumer electronics industry is constantly changing and dynamic industry. Presently, manufacturers of consumer electronics face massive pressure to create innovative and advanced products into the market. Smart sensors like image, motion, temperature, touch, and pressure sensors are the crucial parts used in all these products in order to provide comfort and control to the user.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia-pacific emerged as the dominating region in terms of revenue in 2020. This is mainly due to the penetration of smartphones and deployment of smart electronic appliances in commercial, industrial, and residential sectors. Moreover, due to technological developments, the appliances in residential buildings, like heating, washing machine, and cooling equipment, and refrigerators can be used in a remote manner using the internet.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; ABB Group, Honeywell International, Inc., Siemens AG, and General Electric (GE) Co. are the forerunners in the Smart Sensor Market. Companies such as Infineon Technologies AG, Analog Devices, Inc., and STMicroelectronics N.V. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Infineon Technologies AG, STMicroelectronics N.V., Microchip Technology, Inc., NXP Semiconductors N.V., ABB Group, Siemens AG, Robert Bosch GmbH, Honeywell International, Inc., General Electric (GE) Co., and Analog Devices, Inc.
Recent strategies deployed in Smart Sensor Market
Partnerships, Collaborations, and Agreements:
Dec-2020: Honeywell came into partnership with Signify, the world leader in lighting. The partnership aims to deploy integrated, smart lighting solutions for commercial buildings. The purpose of the partnership is to enhance the occupant experience aiming at productivity and well-being and to decrease the consumption of energy.
Nov-2020: STMicroelectronics came into collaboration with Schneider Electric. Together, the companies are demonstrating a prototype IoT sensor that allows the latest building-management services and effective gains by understanding building-occupancy levels and uses.
Nov-2020: STMicroelectronics collaborated with Qualcomm Technologies, an American multinational corporation. In this collaboration, STMicroelectronics strengthened its leadership in sensor technologies by making innovative software solutions utilizing the technology from Qualcomm Technologies via the Qualcomm Platform Solutions Ecosystem program.
Oct-2020: Analog Devices entered into collaboration with Microsoft Corporation. Under this collaboration, Analog uses Microsoft’s 3D time-of-flight (ToF) sensor technology that enables its users’ to effortlessly develop high-performance 3D applications, which bring more depth accuracy and work irrespective of the environmental condition.
Sep-2020: Infineon Technologies extended their partnership with Elliptic Labs, a global AI software company and virtual smart sensors world leader. This expansion aims to provide support for Infineon’s mmWave Radar sensor to Elliptic Labs’ Virtual Smart Sensor Hub. The partnership also delivers the latest capabilities like breathing and heartbeat detection, along with Elliptic Labs’ existing established position and gesture detection offerings.
Sep-2020: Bosch came into collaboration with Peachtree Corners, a smart city environment powered by real-world infrastructure and next-generation connectivity. The collaboration of the Bosch Building Technologies division and Peachtree Corners aims to test, demonstrate and create the future of video-as-a-sensor technology.
Jan-2020: STMicroelectronics announced a partnership with Fieldscale, an ST Authorized Partner and provider of simulation software. The partnership was focused on simplifying the development of touch-enabled user interfaces for smart devices containing ST’s STM32 microcontrollers (MCUs).
Nov-2019: ABB came into partnership with Exeger Operations AB for enabling Exeger to increase the production capacity of its unique photovoltaic material in its Stockholm factory. Also, the partnership is aimed at developing automation solutions for Exeger’s fully automated factory that will begin construction in the future.
Oct-2019: Bosch formed a partnership with SenRa, a PAN India Low-Power Wide-Area Networks provider for long-range-based Internet of Things (IoT) applications. The partnership aims to deploy smart solutions PAN India.
Jun-2019: Analog Devices collaborated with First Sensor AG. This collaboration aimed to launch the autonomous sensing technology serving unmanned automotive, underwater and aerial vehicles in smart agriculture, transportation, industrial manufacturing, and other industries. Both companies planned to develop LIDAR products that served automotive and industrial manufacturing applications.
Jun-2019: ABB extended its collaboration with HPE, an enterprise information technology company. Under this expansion, the companies proposed to integrate ABB Ability Smart Sensor technology with Aruba Wi-Fi access points and Bluetooth-enabled access points. The ABB smart sensor connected to a traditional motor, mounted bearings or pumps, to change them into wirelessly connected devices that can be used with Aruba access points, which further allow users with huge industrial sites and several access points to supervise the condition and performance of the tool.
Acquisition and Mergers:
Jul-2020: Analog Devices acquired Maxim Integrated. The acquisition broadened Analog Devices’ product offerings across multiple markets. It also strengthened its position as a leader in the semiconductor market.
Apr-2020: Infineon Technologies took over Cypress Semiconductor Corporation. Through the acquisition, a differentiated portfolio of microcontrollers, connectivity components, software ecosystems, and high-performance memories has been added to Infineon’s portfolio.
May-2018: Siemens announced the acquisition of Enlighted, a provider of smart IoT systems. The acquisition enhanced its business in producing smart sensors with the addition of Enlighted’s smart sensors and sensor platform to it.
Mar-2018: Analog Devices acquired Symeo GmbH, a manufacturer of precise sensor systems and robust radar solutions for position detection, distance measurement, collision avoidance & telemetry. The acquisition broadened its business capabilities in sensing technologies.
Jul-2017: ABB acquired B&R (Bernecker + Rainer Industrie-Elektronik GmbH), a company that provides product and software-based open-architecture solutions for machine and factory automation. The acquisition strengthened the position of the former company in automation solutions.
Product Launches and Product Expansions:
Nov-2020: STMicroelectronics introduced VL53L5. The product expanded the portfolio of FlightSense Time-of-Flight (ToF) sensors. It offers radical performance improvement in laser autofocus, presence detection, touch-to-focus, and gesture interfaces while helping developers make more innovative imaging applications.
Jun-2020: Bosch announced the launch of the Bosch MEMS sensor: the SMI230. This highly precise sensor constantly registers changes in the vehicle’s direction and speed, evaluates the information, and transmits it to the navigation system. The capabilities of Bosch’s SMI230 MEMS sensor also make it ideal for use in fleet management and toll systems, as these areas also require precise motion detectors. Moreover, the sensor is suited for use in vehicle alarm systems because of its ability to detect vibrations and impacts.
Jan-2020: GE introduced various new C by GE technologies to its portfolio of smart home products. The innovative lighting switch and dimmer technologies, and also new comfort, safety & security solutions, have developed to combine and interact with prevailing C by GE products to offer an easy-to-use, enhanced, and more comprehensive smart home network.
Nov-2019: NXP Semiconductors introduced a new automotive UWB IC. This launch added to the UWB portfolio of the company. UWB offers accurate, safe, real-time localization offerings unrivaled by other wireless technologies like Bluetooth, Wi-Fi, and GPS. The technology is developed to offer spatial awareness to UWB-equipped mobiles, cars, and other smart devices, to allow cars to know the exact position of the user.
Dec-2019: Bosch released a new interior monitoring system featuring cameras and artificial intelligence. This system enhances driver and passenger safety. It has a camera embedded in the steering wheel that identifies when they are distracted, when drivers’ eyelids are getting heavy, and when they turn their heads to the passenger seats.
Oct-2019: NXP Semiconductors unveiled the i.MX RT1170 family of crossover MCUs. This launch strengthens the Company’s aim to advance edge computing with its EdgeVerse portfolio of solutions and bring a technology development with MCUs that can be operated up to 1GHz and also maintain low-power efficiency.
Jul-2019: Bosch together with its automation arm, Bosch Rexroth, introduced the sensor device SCD (Sense Connect Detect). This device was aimed to help Industrial Internet of Things (IIoT) specialists improve availability and efficiency on machines and equipment. SCD has been equipped with four different sensors (acceleration sensor, temperature sensor, light sensor, and magnetometer). SCD records vibration profiles, whose analysis indicates the wear status of machines, components, or tools.
Jun-2019: Infineon Technologies unveiled XENSIV TLE5109A16 for extending the product portfolio of AMR-based angle sensors. This sensor aimed to direct the needs of fast and yet cost-efficient angle measurement and for position measurement of DC brushless motors for wipers or brakes, pumps, and valves.
Jun-2019: Infineon Technologies launched XENSIV PAS210, photoacoustic spectroscopy (PAS) miniaturizes the CO2 sensor. This sensor built automation and smart home appliances to detect the gases.
Jun-2019: Infineon Technologies released XENSIV KP276, a digital Turbo MAP sensor. This sensor measures manifold air pressure in turbo or aspirated gasoline engines, diesel engines, and exhaust gas recirculation.
Mar-2019: NXP Semiconductor extended its 5V microcontroller (MCU) family for greater product scalability and cost-effectiveness. The company launched the 5V KE1xZ family, based on the Arm Cortex-M0+. It enabled embedded control systems in harsh electrical environments with an integrated CAN controller and capacitive touch from 32KB flash.
Feb-2019: STMicroelectronics introduced the LSM6DSOX motion sensor. The sensor has been embedded with machine-learning technology for improving activity tracking performance and battery life in wearable and mobiles.
Feb-2019: STMicroelectronics launched an innovative full-color ambient light sensor (ALS), VD6281. The VD6281 lets the camera correct white balance and enhance the color presentation and set an appropriate exposure for the camera to avoid flicker artifacts and remove banding in pictures and videos.
Scope of the Study
Market Segments covered in the Report:
• Image Sensor
• Motion Sensor
• Touch Sensor
• Pressure Sensor
• Temperature Sensor
• Position Sensor
• Light Sensor
By End User
• Consumer Electronics
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Infineon Technologies AG
• STMicroelectronics N.V.
• Microchip Technology, Inc.
• NXP Semiconductors N.V.
• ABB Group
• Siemens AG
• Robert Bosch GmbH
• Honeywell International, Inc.
• General Electric (GE) Co.
• Analog Devices, Inc.
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