Portland, April 14, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global smart sensor market was pegged at $37.12 billion in 2019, and is projected to reach $143.65 billion by 2027, growing at a CAGR of 18.6% from 2020 to 2027. The report provides an extensive analysis of changing market dynamics, market size & projections, top investment pockets, major segments, and competitive landscape.
Growing trend toward the Internet of Things, robust demand for smart sensors in the automobile sector, and growth in demand for smart sensors in the development of smart cities have boosted the growth of the global smart sensor market. However, incorporating smart sensors in devices reduces the life of the devices, which hampers the market growth. On the contrary, rise in adoption of wearable devices and innovative applications in the biomedical sector are expected to create lucrative opportunities in the near future.
Download PDF For Business Strategies of Global Leaders: https://www.alliedmarketresearch.com/request-sample/1861
The global smart sensor market is segmented on the basis of type, end use, and geography. Based on type, the market is categorized into touch sensor, image sensor, temperature sensor, motion sensor, position sensor, gas sensor, light sensor, pressure sensor, and others. The image sensor segment held the largest share in 2019, accounting for around one-fifth of the market. However, the light sensor segment is projected to register the highest CAGR of 25.2% during the forecast period.
Based on end use, the market is divided into automotive, consumer electronics, industrial, infrastructure, healthcare, and others. The automotive segment held the largest share in 2019, accounting for around one-fourth of the market. Moreover, the segment is anticipated to portray the highest CAGR of 21.7% during the study period.
The global smart sensor market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2019, accounting for nearly half of the market and is expected to manifest the highest CAGR of 19.8% during the forecast period. On the other hand, the market across LAMEA is expected to register a CAGR of 18.7% during the forecast period.
Want to Purchase Report – Get Additional Benefits: https://www.alliedmarketresearch.com/purchase-enquiry/1861
The global smart sensor market report includes an in-depth analysis of the major market players such as Analog Devices, ABB Ltd., Honeywell, Eaton, NXP Semiconductors N.V., Infineon Technologies, Siemens, Renesas Electronics, Texas Instruments, and STMicroelectronics.
Access Avenue (Premium on-demand, subscription-based pricing model) @ https:/www.alliedmarketresearch.com/Avenue-Membership-details
Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Related Studies:
Torque Sensor Market Expected to Reach $16.82 Billion By 2026
Global Magnetic Sensor Market Expected to Reach $4.22 Billion by 2026
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.