Smart Sensor Market Growth, Opportunities, Industry Applications, Analysis and Forecast To 2024

How will growing demand for eco-efficient protection systems propel global smart sensor market over 2016-2024?
Global smart sensor market share is poised to witness considerable growth in coming years, owing to prolific developments in consumer electronics. Industry expansion is further facilitated by beneficial legislative reforms, diminishing cost trends and increased financial interest from the government.
Rapid advancements in industrial robotics and vast acceptance in the aerospace and automotive sectors will boost product demand. In recent times, the demand for mobile devices like tablets and smartphones with integrated touch-screen displays is observing steady growth. This rising demand is expected to add significant impetus to the global smart sensor market size in the foreseeable future.
North America smart sensor industry held majority shares in 2015, given intense product penetration across myriad industries. Smart sensors demonstrate significant application potential in numerous industry verticals which involve consumer safety and protection of working environments. Industry growth in the region is backed by prominent smart sensor market players including Infineon Technologies, Qualcomm Inc. and Atmel Corporation, among others.
According to credible reports, the global smart sensor market is set to depict growth at 17% CAGR and reach $80 billion through 2024.
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How is the growing need for carbon emission mitigation influencing global smart sensor market trends over the projected timeline?
Innovations in manufacturing technologies alongside enhanced performance and advanced signal processing is likely to help diminish development expenses. To illustrate, Notch, a fitness motion tracker that helps improve performance, enhance motion-based techniques and lower injury rates. The system is integrated with smartphones and operates through wireless sensors that capture movement.
The burgeoning demand for environment-friendly safety systems is also encouraging industry participants to shift their focus towards eco-efficient protection options, thereby fostering smart sensor industry outlook.
What impact will the rising prevalence of smart homes and cities assert on the global smart sensor market over 2016-2024?
The innovative miniaturization trend being increasingly adopted by producers is anticipated to expedite smart sensor market expansion. This trend enables multiple functionalities in a solitary chip, presenting lucrative growth prospects for industry players.
Broadening scope of technological innovations is also paving the way for the advent of digitally proficient smart cities and smart homes. The global smart sensor industry is poised to amass hefty proceeds in the years ahead, owing to the emergence of these technologies.
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Smart sensors are gaining massive approval owing to their eco-friendly features like capacity to mitigate carbon emissions, leading to their increasing adoption power plants. The products help optimize various power plant operations and thereby increase overall efficiency.
How will the use of advanced technologies like MEMS stimulate smart sensor industry growth from the automotive application segment?
Many commercial verticals including healthcare, automotive, aviation and consumer electronics are leveraging smart sensors owing to progressive developments in the MEMS technology, for instance, sensor fusion. The rise in popularity of wearable technologies like smart wrist bands and watches is likely to further bolster smart sensor market demand from the MEMS technology segment.
Meanwhile, in the automotive sector, MEMS technology demonstrates commendable application scope in passenger safety components like airbag systems. Product penetration in this segment is further fueled by propitious government norms regarding vehicle and passenger safety.
In addition to protective features, the product also aids in enhancing passenger comfort. This is demonstrated by the extensive use of smart sensors in automatic temperature control of the vehicle’s cooling system to ensure optimum temperature levels. These sensors also help reduce the vehicle’s energy usage through their use in developing air-conditioned seats which control humidity and temperature levels.
Table Of Content
Chapter 1   Methodology & Scope
1.1    Methodology
1.1.1    Initial data exploration
1.1.2    Statistical model and forecast
1.1.3    Industry insights and validation
1.1.4    Definition and forecast paramters
1.2    Data Sources
1.2.1    Secondary
1.2.2    Primary
Chapter 2   Executive Summary
2.1    Smart sensors industry 3600 synopsis, 2013 – 2024
2.1.1    Business trends
2.1.2    Product trends
2.1.3    Technology trends
2.1.4    Network trends
2.1.5    Application trends
2.1.6    Regional trends
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