Markets and Markets : Smart / Intelligent Sensor Market to Reach $10.46 Billion by 2020
(M2 PressWIRE Via Acquire Media NewsEdge) The market research report "Smart / Intelligent Sensor Market by Type (Flow Sensor, Dissolved Oxygen Sensor, Temperature Sensor, Pressure Sensor, Touch Sensor), Technology (MEMS, CMOS), Application (Aerospace, Automotive, Industrial, Building Automation), & by Geography - Forecasts & Analysis 2013 - 2020", the total market is expected to generate revenue of $10.46 Billion by 2020 growing at an estimated CAGR of 36% from 2012-2020.
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The Smart Sensor is a device which consists of transduction element, signal conditioning electronics and controller or processor. It has the ability to take decisions and it is a complete system which is also known as a system on chip. The main aim of smart sensors is to integrate electronics and sensors. Smart sensor enables the sensor to stand alone with the processing power normally associated with much larger data acquisition systems.
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The Smart sensor contains a sensing element, analog interface circuit, an analog-to-digital converter (ADC), and a bus interface, all in one platform. Smart sensors have the capabilities such as self-calibration and self-diagnosis, the ability to use signal processing, and multi-sensing capabilities. In current scenario, the Americas are the leader in the Smart sensor market. The North American market is more dominated currently wherein; the U.S. constitutes of 44%, Canada 31% and Mexico 25%. APAC is expected to overtakethe U.S. and change this situation for smart sensor market because APAC is considered as a center for supplying consumer electronics products and consumer electronics embedded with smart sensors is expected to penetrate into the market.
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The smart sensor market is expected to reach $10.46 billion by the end of 2020 at a CAGR of 36.25%.Latest technological breakthroughs have assisted the advance of new sensors that can make the overall processes more efficient and can significantly improve accuracy in various applications. Among all the sensors, pressure sensor temperature sensor, flow sensor and touch sensor are widely being used across various applications. The flow sensors market is driven majorly by the growing medical sectors, industries, and automotive industries. Temperature sensors are widely used in measurement, control systems and instrumentation. Pressure sensors are used to measure the intake of manifold pressure, atmospheric pressure, vapor pressure and so on. Touch sensors are used across different types of consumer electronics products, in automotive, healthcare, aerospace and defense and in industrial and commercial sectors.
Apart from biomedical and industrial automation, building automation and consumer electronics are also having an increasing demand of smart sensors. In building automation smart sensors are used for close monitoring and adaptive control of building equipment, monitoring materials performance, and environmental conditions, including temperature, air flow, and air chemistry. In consumer electronics, CMOS sensors are used in cameras, from high-end DSLR (digital single-lens reflex) cameras to smartphones. In smart phones, the sensors used are accelerometer, gyroscope, magnetometer, pressure sensor, image sensors, location sensor, and so on.
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