The detailed report published by Market Research Future (MRFR) projects that the global smart sensors market is marked to expand notably at a CAGR of 21% during the forecast period of 2016-2022 and reach the market valuation of USD 60 Bn by the end of the review period. Increasing demand for incorporation of technologically advanced solutions in various industries in order to optimize various functions and processes are inducing high demand for smart sensors, which in turn is propelling the growth of the global smart sensors market during the assessment period.

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Segmental Analysis

The global smart sensors market has been segmented on the basis of type, technology, and end-user. Based on type, the global smart sensors market has been segmented into image sensors, motion sensors, position sensors, pressure sensors, temperature sensors, touch sensors, and others. The image sensors segment commands the maximum market share of the global smart sensors market with the market valuation of USD 5.18 Bn in the year 2016. Whereas, the touch sensor segment is projecting the fastest growth at a CAGR of 27.51% during the assessment period. Based on technology, the global smart sensors market has been segmented into CMOS and MEMs among others. The CMOS segment commands for the major share of the global smart sensors market and is marked to reach the market valuation of USD 40 Bn by the end of the year 2022, expanding at a remarkable CAGR of 25.01% During the review period. Based on end-user, the global smart sensors market has been segmented into automotive, consumer electronics, industrial, infrastructure/construction, medical and others.

Regional Analysis:

The regional segmentation of the global smart sensors market segments the market into the global market into regional markets known as North America, Europe, Asia Pacific, and the Middle East & Africa (MEA). North America is the biggest regional market due to technological advancement, the presence of many key market players, and many established industries being present in this region.

The Asia Pacific has been estimated to rise as the fastest growing regional [FURL=https://www.marketresearchfuture.com/reports/smart-sensors-market-2768]Smart Sensors Market[/FURL] during the forecast period. In this region, the market is growing due to the government initiatives to improve infrastructure and increasing technology adoption. However, the high installation cost of smart sensors is one of the major reason for slow growth because most countries in this region are developing countries.

Key Players

Some of the prime players profiled by Market Research Future (MRFR) that are operating in the global smart sensors market are Rockwell Automation, ABB Ltd., Emerson Electric Company, NXP Semiconductor N.V., Honeywell International Inc., Eaton Corporation PLC, Renesas Electronics Corporation, Texas Instruments, Yokogawa Electric Corporation, and Omron Corporation.

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