Smart/Intelligent Sensors Market - Global Industry Analysis and Forecast by 2019

Smart/ intelligent sensors refer to devices that exhibit preset responses on sensing inputs such as light, sound, touch, heat, motion, etc. Smart/intelligent sensors that are small in size and have diverse functional capabilities are rapidly finding place in varied applications such as healthcare monitoring, collision prevention, automotive application, and oil platforms. Driven by incessant sales of electronics such as smartphones, tablet computers, and other electronic devices, and the expanding automobiles industry, the global smart/intelligent sensors market is expected to be valued at US$21.60 billion by 2019, increasing from US$9.0 billion recorded in 2012. The market will register an impressive 12.2% CAGR between 2013 and 2019.

 

Widespread Application across Diverse Industries to Drive Demand for Smart/Intelligent Sensors

 

The increasing penetration of mobile devices such as smartphones and tablet computers, and increasing demand for technologically advanced versions of existing models is primarily driving the smart/intelligent sensor market in the electronics sector. Smart/intelligent sensors add advanced features to electronic devices, automobiles, and medical equipment, helping the market generate demand. Additionally, smart sensors are also finding application in the transportation and logistics sector. Smart/ intelligent sensors are also increasingly in demand from the military and defense sector, contributing to growth of the overall smart/intelligent sensors market.Broadly, the global market for smart/ intelligent sensors is segmented on the basis of product type, end user, and geography. Product-wise, the global market for smart/intelligent sensors is segmented into smart position sensor products, image sensor products, smart temperature products, touch sensor products, and smart pressure products.

 

Image Sensors to Dominate the Product Segment of the Market

 

Among all, image sensors led the market in 2012, due to the exploding demand for smartphones, tablets, and PCs.By end user, the smart/intelligent sensors market includes consumer electronics, automotive, infrastructure, medical, and others. Of all, the automotive sector accounted for the largest consumption of smart/intelligent sensors in 2012, which was followed by the industrial sector. Both these end-use sectors are likely to maintain their leading position in the coming years.In the Asia Pacific, economic development leading to the flourishing automobile industry and increasing consumer spending on electronic devices augurs the need for smart/ intelligent sensors in the region.

 

Top-Tier Automobile Industry to Lead Europe to Dominate Regional Market

 

Region-wise, the global market for smart/intelligent sensors is divided into North America, Asia Pacific, Europe, and Rest of the World (RoW). Of all the broad regional segments, Europe stood as the leader of the smart/intelligent sensors market in 2012, holding 34% of the total market.While the thriving healthcare industry is the primary factor for the growth of the European regional smart/intelligent sensors market, the high number of leading automobile manufacturers based in Europe also contributes significantly to the growth of the regional market.Some of the classic names in the automobile sector such as Volkswagen, BMW, Renault, and Audi are based in Europe, which has contributed substantially to the growth of the regional smart/intelligent sensors market.

 

North America ranks second in the market and the growth is attributed to the soaring demand for automobiles. Upsurge in demand for advanced consumer electronics and medical equipment will also drive demand for smart/intelligent sensors from the region in the near future.

 

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