How big is the Smart Sensors Market?

The Smart Sensors Market size is expected to reach USD 55.86 billion in 2024 and grow at a CAGR of 18.30% to reach USD 129.42 billion by 2029. Read More

What is the current Smart Sensors Market size?

In 2024, the Smart Sensors Market size is expected to reach USD 55.86 billion. Read More

Who are the key players in Smart Sensors Market?

ABB Ltd, Honeywell International, Analog Devices Inc., Siemens AG and General Electric are the major companies operating in the Smart Sensors Market. Read More

Which is the fastest growing region in Smart Sensors Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Smart Sensors Market?

In 2024, the North America accounts for the largest market share in Smart Sensors Market. Read More

What years does this Smart Sensors Market cover, and what was the market size in 2023?

In 2023, the Smart Sensors Market size was estimated at USD 47.22 billion. The report covers the Smart Sensors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Smart Sensors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Smart Sensors Market - Forecast, Share & Growth

Smart Sensors Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Smart Sensors Market Analysis and it is segmented By Type (Flow, Humidity, Position, Pressure, Temperature), Technology (MEMS, CMOS, Optical Spectroscopy), Component (Analog-to-Digital Converter, Digital-to-Analog Converter, Amplifier), Application (Aerospace and Defense, Automotive, and Transportation, Healthcare, Industrial Automation), and Geography (North America (United States, Canada), Europe (Germany, United Kingdom, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America, and Middle East & Africa). The Market Size and Forecasts Are Provided in Terms of Value (USD Million) for All the Above Segments.

Global Smart Sensors Industry Overview

The smart sensors market is very competitive, with many national and international players in the market. The major players follow strategies like product innovation, mergers, and acquisitions to expand their reach and hold their market position. The major players in the market are Honeywell International, ABB Ltd, Analog Devices inc., and GE, among others.

In November 2022, Stirling Council's largest IoT smart sensor rollout gives 50K homeowners early notification of environmental issues and better energy consumption. Environmental sensors placed in every home will alert the council in real time of any moisture, mold, ventilation, or other potential issues and provide early warning. They will also let the tenant realize how much energy is needed to heat their home.

In September 2022, Advantech released WISE-2410 LoRaWAN Wireless Condition Monitor sensors that can independently detect equipment vibration, track the temperature of its surface over time, and ascertain its vibration characteristics. These sophisticated photoelectric sensors, such as sophisticated position sensors, are frequently employed in industrial automation. These sensors are extensively used in industrial, medical, and aeronautical applications because they can spot patterns and changes in an object's structure.