Northbrook, IL -- (SBWIRE) -- 12/18/2020 -- The global smart sensor market size is expected to grow from USD 36.6 billion in 2020 to USD 87.6 billion by 2025, at a CAGR of 19.0%.The drivers fueling the growth of the market are the increasing implementation of smart sensors in various manufacturing industries and escalating demand for smart sensors by automobile manufacturers to deliver improved safety and comfort.

The temperature & humidity smart sensor market to grow at the highest CAGR during the forecast period

The demand for temperature & humidity sensors type is expected to grow at the highest CAGR during the forecast period. Smart temperature sensors are used widely in measurement control systems and instrumentation. Temperature sensors provide an interpretable temperature reading in a digital format that is easy to use in many applications, such as healthcare, automotive, and building automation. Advancements in IC technology have allowed researchers to integrate bipolar transistors in temperature sensors, along with interface electronics, to make the temperature sensor smart.

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The smart sensor market for consumer electronics to hold the largest share during the forecast period

Consumer electronics are expected to hold a major share in the smart sensor market during the forecast period. The consumer electronics sector is a rapidly changing and dynamic industry with increasing competition among players. Currently, manufacturers of consumer electronics are under immense pressure to bring unique and differentiated products into the market. Smart sensors such as motion, temperature, image, touch, and pressure sensors are the critical components utilized in all these products to ensure comfort and control for the user.

APAC smart sensor market to grow at highest CAGR during 2020–2025

The smart sensor industry in APAC is projected to grow at the highest CAGR, in terms of value, during the forecast period. Asia Pacific is expected to be the fastest-growing market for smart sensors. In this study, APAC is divided into India, China, Japan, South Korea, and Rest of APAC.

Asia Pacific is a major market for various industries, such as consumer electronics, automobiles, and healthcare. Over the past few years, this region has witnessed large-value investments and business expansion opportunities. These factors are likely to drive the smart sensor market in the geography during the forecast period.

Key Market Players
Infineon Technologies (Germany), Microchip Technology (US), Analog Devices (US), TE Connectivity (Switzerland), STMicroelectronics (Switzerland), Eaton Corporation (Ireland), Honeywell (US), NXP Semiconductors (Netherlands), Emerson Electric (US), ABB (Switzerland), Siemens (Germany), Robert Bosch (Germany), TDK Corporation (Japan), General Electric (US), Legrand (France), Vishay Precision Group (US), Balluff (Switzerland), Airmar Technology Corporation (US), Memsic (US), and Sensirion (Switzerland) are a few major companies dominating the global smart sensor market.