Smart Sensors contain integrated circuits, which analyses the environment and acts according to pre-defined built in logic. The Smart Sensor Market is anticipated to grow at a healthy rate owing to its various applications in several industries, reliability, and cost effectiveness. In different verticals such as defense, aerospace, automobile, consumer electronics, and industrial automation sector these devices are used as temperature controller, acceleration controller, used in fuel system, safety-warning devices, used in height measurement devices, and speed sensors.
These devices are reliable,
accurate, and save energy. The increase in demand of automobiles is one of the
factors that have increased the production of sensors. Its adoption in
automotive sectors is extensive in applications such as Anti Breaking System
(ABS), cooling system, parking and air bag system due to this the market is
expected to grow at a dynamic rate over the forecast period. It senses the condition and acts as per
built in logic. In defense sector, it is used as a tracking device, heat
sensing, and thermal imaging.
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Sensor Market at: https://www.millioninsights.com/industry-reports/smart-sensor-market
Smart sensors are made of highly
sensitive material and complex circuit therefore its deployment cost is huge.
These are very complex in design; any repair or replacements are expensive. It
acts on a pre-defined set of commands for a particular situation so sometime it
may fail to act on some undefined situation. On the basis of types, this
industry can be segmented as dissolved oxygen flow, turbidity, pH, Oxidation
Reduction Potential (ORP), temperature, touch, pressure, and others. Based on
technology it is segmented as Complementary Metal–Oxide–Semiconductor (CMOS)
technology, optical spectroscopy, and MEMS technology. Based on component, it
is segmented as digital to analog converter, transceivers, amplifiers,
microcontrollers, analog to digital converter, and others.
North America is expected be the
largest market for the forecast period geographically owing to technological
advancement in automobile, aerospace, and industrial automation sector. Europe
and, Asia Pacific are expected to have highest growth rate in this industry.
Countries such as China, India, and Germany are anticipated to contribute the
most to this industry owing to developing infrastructure, government regulation
for safety, and huge automobile industry of Europe.
European automobile and aerospace
companies such as BMW, Audi, Airbus, and DassaultAviation are major user of
smart sensors. Key players in the industry are ABB LTD., Eaton
Corporation Plc., Analog Devices Inc., NXP Semiconductors, Honeywell International
Inc., Emerson Process Management, and Infineon Technologies AG. Companies in
this industry have adopted various strategic initiatives such as new product
development, merger &acquisition, and partnerships &collaboration in
order to have a competitive advantage and strong market share.
In March 2015, ABB, the leading
power and automation technology, launched Transformer Intelligence which is
used as a monitoring system for transformer parts. It helps in condition-based
maintenance of transformer, which reduces failure risk and decreases the
regular maintenance cost. Thereby, enhancing the overall efficiency of
transformer. In August 2015, Honeywell introduced Amplified Basic Pressure
(ABP) sensor, a smallest amplified digital pressure sensor. It helps in
reducing the size of the machine, reduces manufacturing cost, improves the
performance, and reliability of the machine.
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In August 2015, Honeywell
launched MagspeedQuadurature, SNG-Q series. It is a speed and direction sensor
that has high performance accuracy and reliability. It is tested to perform
under harsh conditions; it reduces the downtime of the system and improves the
efficiency and productivity. In March 2015, NXP merged with Freescale. Both the
companies are leader in production of automobile sensors. Both companies manufacture
same product but not on same platform. Freescale produces on MEMS technology.
Merger will help NXP to expand their product portfolio and market share.
In May 2016, Analog Devices acquired SNAP Sensor; this acquisition will help
Analog devices Inc. to get leading position sensor industry. Analog devices
Inc. design semi-conductor. SNAP Sensor's will offers optical sensors by
ensuring accurate image detection. It will improve sensing reliability and
accuracy in a range of detection, guidance and identification uses. Analog
Devices acquisition will enhances IoT Sensing Portfolio with SNAP sensor.
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