Global Industrial Smart Sensors Market 2017-2021

(IT-NEWSWIRE.COM, April 03, 2018 ) Publisher’s market study identifies the growing demand for wearable technology to be one of the primary growth factors for the industrial smart sensors market. Wearable technology is extensively used by the industrial, military, and healthcare sectors since the wearable devices ensure the safety of the workers in hazardous environments. Industrial smart sensors are integrated into these devices to monitor the environment and analyze the data. Additionally, they can also transfer the data to the control room and ensure the fulfillment of safety measures. Our market research analysts estimate that this market will grow steadily at a CAGR of more than 11% by 2021.

Industrial smart sensors are enabled with microprocessors that process all the acquired data and send it to control systems. The microprocessors used in these industrial smart sensors use an IIoT-enabled chipset for faster communication between the sensor devices and the control systems. System-on-chip (SoC) contains an integration of sensors and other transduction elements together in one silicon chip. Cost improvement, reduced costs of bulk cables and connectors, better signal to noise ratio, self-calibration, system reliability, and multi-sensing are some of the advantages of implementing SoC. This will increase the adoption of SoC in industrial smart sensors which will be one of the key trends that will gain traction in the industrial smart sensors market during the next few years.

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Competitive landscape and key vendors

The industrial smart sensors market is highly fragmented due to the presence of several international, regional, and local vendors who offer innovative and differentiated products. The capital-intensive nature of the smart sensors for industrial applications market makes it difficult for new players to enter the marketspace. Government initiatives in APAC and EU and the increasing investments in R&D are resulting in the development of new products with cutting-edge technology.

The leading vendors in the market are -

Honeywell

Infineon Technologies

NXP Semiconductors

STMicroelectronics

Texas Instruments

The other prominent vendors in the market are Analog Devices, Atmel, Eaton, Kionix, Knowles, and Robert Bosch.

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Table of Contents

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Market Research Methodology

PART 04: Introduction

PART 05: Market landscape

PART 06: Five forces analysis

PART 07: Market segmentation

PART 08: Decision framework

PART 09: Drivers and challenges

PART 10: Market trends

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Global Industrial Smart Sensors Market 2017-2021