Market Research Future published a research report on “Intelligent Sensor Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Intelligent Sensor Market - Overview
The global intelligent sensors market is estimated to witness proliferation in growth over the forecast period, as stated in the report by the experts at Market Research Future (MRFR). It is estimated to garner a market valuation of USD 47.20 billion by the end of the forecast period, from USD 18 billion in the base year. This robust spike in the market revenue valuation can be owed to the fast-paced CAGR of 18.20% over the forecast period. Increasing use of sensors in different industry verticals is one of the primary most factors contributing to the ascension of the global intelligent sensor market. Such industry verticals include automotive, consumer electronics, logistics, healthcare, and defense. The Intelligent Sensor Market is estimated to witness tremendous opportunities in the biomedical, healthcare, and consumer electronics sectors, hence, supplementing the intelligent sensors market growth.
Intelligent sensors are capable of self-testing, self validation, self-identification, and self-adaptation. These sensors are known to provide several advantages such as high performance, high reliability, compact size, lower power consumption, and need minimal interconnecting cables. These features of the intelligent sensors are bound to attract new applications in different industry verticals, creating new growth and expansion prospects for market players. Disadvantages of intelligent sensors include the complexity of these devices, in comparison to traditional sesors as they consist both sensor and processing and logic unit and is required for managing sensor calibration that leads to a rise in the cost of the sensor.
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Intelligent Sensors Industry - Segmentation
The global market is segmented on the basis of type, component, technology, application, and region. Based on type, the global market is segmented into humidity, flow, motion, pressure, temperature, and speed. Based on component, the global intelligent sensors market is segmented into microprocessor, ADC, DAC, data acquisition, and transducers. Based on technology, the global market is segmented into CMOS, MEMS, and optical spectroscopy. Based on application, the global intelligent sensors market is segmented into healthcare, consumer electronics, industrial, automotive, and aerospace and defense.
The prominent players in the Intelligent Sensors Industry are – Custom Sensors & Technologies, Inc. (U.S.), Delphi Automotive LLP (U.K.), ABB Ltd. (Australia), Analog Devices, Inc.(U.S.), Honeywell International, Inc. (U.S.), Robert Bosch GmBH (Germany), Meggitt Sensing Systems (U.S.), Siemens AG (Germany), Yokogawa Electric Corporation (Japan) and Infineon Technologies AG (Germany) among others.
Intelligent Sensor Market Global Market - Regional Analysis
The global market is studied for various regional segments of the world to gain a deeper understanding of the global intelligent sensors market. Such regional segmentation is bound to aid the audience to this report to aid in better decision-making and faster results. The global intelligent sensors market is segmented into the regions of North America, South America, Europe, Asia Pacific, and the Middle East & Africa. Among these segments, Europe is estimated to upscale at a fast pace over the forecast period. The region is also expected to showcase a strong and dominant hold on the global intelligent sensors market during the forecast period. This can be owed to the advancements in the healthcare standards, along with an enhanced technical infrastructure in various European countries like Italy, Germany, France, and the UK.
North America is estimated to showcase considerable growth for intelligent sensors owing to the rising demand for the integration of the same in consumer electronics. Asia Pacific, on the other hand, is expected to see tremendous growth in the global intelligent sensors market over the assessment period. This can be owed to the rising demand for consumer electronics. Further, countries such as India and China are estimated to witness fast growth in the adoption of advanced technologies in almost all end-user industry verticals owing to fast technological growth and an ascension in the disposable income of consumers residing in the region.
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TABLE OF CONTENTS
LIST OF TABLES
Table 1 Global Intelligent Sensors Market, By Region, 2018–2023
Table 2 North America: Intelligent Sensors Market, By Country, 2018–202
Table 3 Europe: Intelligent Sensors Market, By Country, 2018–2023
Table 4 Asia-Pacific: Intelligent Sensors Market, By Country, 2018–2023
Table 5 Middle East & Africa: Intelligent Sensors Market, By Country, 2018–2023
Table 6 Latin America: Intelligent Sensors Market, By Country, 2018–2023
Table 7 Global Intelligent Sensors Type Market, By Region, 2018–2023
Table 8 North America: Intelligent Sensors Type Market, By Country, 2018–2023
Table 9 Europe: Intelligent Sensors Type Market, By Country, 2018–2023
Table10 Asia-Pacific: Intelligent Sensors Type Market, By Country, 2018–2023
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