Smart/Intelligent Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019
Albany, NY -- (SBWIRE) -- 07/23/2015 -- In a recent market study, Transparency Market Research (TMR), a market intelligence company based in the U.S., projects the global smart/intelligent sensors market to reach US$21.60 billion by 2019, increasing from US$9.0 billion in 2012 at a 12.2% CAGR from 2013 to 2019.The report, titled "Smart/Intelligent Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019", is available for sale on the company website.Incessant sales of consumer electronics and automobiles in the last few years are the major factor driving demand for smart/intelligent sensors. Such devices are incorporated in smartphones, PCs, tablets, automobiles, and medical equipment to offer advanced features.Increasing demand for advanced mobile devices such as smartphones and tablets with the latest technological updates has led to the inclusion of image sensors and touch sensors, which makes these devices more advanced than their predecessors.
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Smart/intelligent sensors, in their present form, are smaller and diversely functional, which has led to a significant scope for application in the healthcare sector, collision prevention, automotive design, and oil platforms. Use of smart/intelligent sensors in transportation and logistics and defense operations at regional and national borders has considerably driven demand for the devices.The smart/intelligent sensors market covers four broad regions: North America, Asia Pacific, Europe, and Rest of the World (RoW). Among these regional markets, Europe registered the highest demand for smart/intelligent sensors, accounting for 34% of the overall market in 2012. While high healthcare standards and developed infrastructure is the primary reason for the high magnitude of the European smart/intelligent sensors market, leading automobile manufacturers such as BMW, Audi, and Renault having a firmly established base in the region has also contributed to the smart/intelligent sensors market in Europe.
North America ranks second in terms of market share in the global smart/intelligent sensors market. Ever-increasing demand for advanced features in automobiles and consumer preference for replacement of electronic devices for technologically advanced features drives the North America smart/intelligent sensors market. Additionally, surging demand for advanced medical equipment to improve overall healthcare facilities is also fueling the market in the region. Use of smart/intelligent sensors in infrastructural, industrial, and avionic applications has also given a thrust to the market in North America.By end users, the smart/intelligent sensors market is segmented into consumer electronics, automotive, infrastructure, industrial, medical, and others (avionics, food and beverages, etc.). Amongst all, the automobile sector dominated the market in 2012. This was followed by the industrial sector. Both these end-use segments are expected to maintain their leading positions in the near future.
Economic growth and changing lifestyle in Asia Pacific and Rest of the World has led to large-scale development of the automobile industry in these regions. This in turn has driven demand for smart/intelligent sensors, in order to offer high-end features in cars and other vehicles. Additionally, increased adoption of high-end electronics across various demographics in these regions has elevated demand for smart/intelligent sensors. The major companies operating in the smart/ intelligent sensors market are Wilcoxon Research, Inc., Vishay Intertechnology, Inc., Emerson Process Management LLLP, Yokogawa Electric Corp, and Custom Sensors & Technologies Inc.
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The smart/ intelligent sensors market is segmented as:
Product types segmentation of smart/ intelligent sensors market
Smart temperature sensors
Smart pressure sensors
Application base segmentation of smart/intelligent sensors market
Others (Food & beverage, avionics)
Geographical segmentation of smart/intelligent sensors market
Rest of the World (RoW)
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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