Lucintel Forecasts Smart Sensor Market to Reach $94.4 billion by 2030

CITY, Country, 2024-May-30 — /EPR Network/ —

According to the recent study the smart sensor market is projected to reach an estimated $94.4 billion by 2030 from $41.5 billion in 2023, at a CAGR of 12.4% from 2024 to 2030. Growth in this market is primarily driven by increasing use of these sensors in vehicles to deliver enhanced safety and comfort, rising demand for sensor based wearable devices, and growing government support for promoting construction of green buildings.

A more than 150 — page report is developed to understand trends, opportunities and forecast in smart sensor market by sensor type (image sensors, smart motion sensors, smart position sensors, smart pressure sensors, smart temperature sensors, and touch sensor), technology (MEMS, CMOS, and other), network connectivity (wired and wireless), end use industry (automotive industry, consumer electronics, industrial, infrastructure, medical equipment, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

Lucintel forecasts that smart pressure sensors will remain the largest sensor type segment over the forecast period due to growing concern for the comfort and safety level of drivers and passengers of vehicles and significantly growing consumer electronics industry.

Within the smart sensor market, consumer electronics will remain the largest end use industry and it is also expected to witness the highest growth over the forecast period due to the increasing adoption in smartphones, gaming consoles, PCs, home appliances, and kitchen appliances.

Download sample by clicking on smart sensor market

MEMS, CMOS, and Optical spectroscopy are the major technologies in the global smart sensor market. Lucintel forecasts that MEMS based smart sensors will remain the largest technology due to the increasing adoption in automotive, industrial, healthcare, and consumer electronics industries.

APAC will remain the largest region over the forecast period, and it is also expected to witness the highest growth due to rapid modernization, increasing adoption of new technologies, and significant growing consumer electronics, automotive, and healthcare industries.

ABB, Analog Devices, Eaton Corp, Emerson Process Management, Infineon Technologies, NXP Semiconductors, Renesas Electronics, Siemens, STMicroelectronics, and Yokogawa Electric Corp are the major suppliers in the smart sensor market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1–972–636–5056 or write us at helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972 636 5056

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