Lucintel’s latest market report analyzed that smart sensor provides attractive opportunities in the automotive, consumer electronics, infrastructure, and medical equipment sectors. The smart sensor market is expected to reach $41.5 billion by 2028 with a CAGR of 12.5%. In this market, smart pressure sensor is the largest segment by sensor type, whereas consumer electronics is largest by end use industry.
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Based on sensor type, the smart sensor market is segmented into image sensors, smart motion sensors, smart position sensors, smart pressure sensors, smart temperature sensors, and touch sensor. The smart pressure sensors segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during 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.
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The Smart Sensor Market is marked by the presence of several big and small players. Some of the prominent players offering smart sensor include ABB, Analog Devices, Eaton Corp, Emerson Process Management, Infineon Technologies, NXP Semiconductors, Renesas Electronics, Siemens, STMicroelectronics, and Yokogawa Electric Corp.
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