Rise in IoT and Automation Booming Smart Sensors Technology

Growing trend toward the Internet of Things, robust demand for smart sensors in the automobile sector, and growth in demand for smart sensors in the development of smart cities have boosted the growth of the global smart sensor market. However, incorporating smart sensors in devices reduces the life of the devices, which hampers the market growth. On the contrary, rise in adoption of wearable devices and innovative applications in the biomedical sector are expected to create lucrative opportunities in the near future.

The global smart sensor market was pegged at $37.12 billion in 2019, and is projected to reach $143.65 billion by 2027, growing at a CAGR of 18.6% from 2020 to 2027. The report provides an extensive analysis of changing market dynamics, market size & projections, top investment pockets, major segments, and competitive landscape.

The global smart sensor market is segmented on the basis of type, end use, and geography. Based on type, the market is categorized into touch sensor, image sensor, temperature sensor, motion sensor, position sensor, gas sensor, light sensor, pressure sensor, and others. The image sensor segment held the largest share in 2019, accounting for around one-fifth of the market. However, the light sensor segment is projected to register the highest CAGR of 25.2% during the forecast period.

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Based on end use, the market is divided into automotive, consumer electronics, industrial, infrastructure, healthcare, and others. The automotive segment held the largest share in 2019, accounting for around one-fourth of the market. Moreover, the segment is anticipated to portray the highest CAGR of 21.7% during the study period.

The global smart sensor market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2019, accounting for nearly half of the market and is expected to manifest the highest CAGR of 19.8% during the forecast period. On the other hand, the market across LAMEA is expected to register a CAGR of 18.7% during the forecast period.

The global smart sensor market report includes an in-depth analysis of the major market players such as Analog Devices, ABB Ltd., Honeywell, Eaton, NXP Semiconductors N.V., Infineon Technologies, Siemens, Renesas Electronics, Texas Instruments, and STMicroelectronics.  

MEMS Sensors: Emerging Trends and Future Projects

Growing demand for smart consumer electronics, emerging trends in automotive industry, and rise in popularity in IoT have boosted the growth of the global MEMS sensor market. However, lack of standardized fabrication process for MEMS and reduction in life of device after incorporating the sensor in devices hamper the market growth. On the contrary, the emerging trends toward autonomous vehicles, rise in adoption of wearable devices and innovative application in biomedical sectors are expected to create lucrative opportunities in the near future.

According to the report, the global MEMS sensor industry accounted for $25.7 million in 2018 and is projected to reach $60.6 million by 2026, registering a CAGR of 10.4% from 2019 to 2026.

The optical sensor segment held the lion's share

The optical sensor segment held the largest share in 2018, contributing more than one-fourth of the global MEMS sensor market, owing to rising demand for advanced features in smartphones and smart accessories such as on-screen fingerprint scanner, medical devices that detect dengue and coherence tomography. However, the environment sensor segment is projected to register the fastest CAGR of 12.6% during the forecast period, owing to increase in environmental regulation in order to reduce air pollution and growing safety concerns.

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The healthcare segment to portray the fastest growth through 2026

The healthcare segment is expected to manifest the fastest CAGR of 13.5% during the study period, owing to surge in initiative by government in developed countries, rise in need for automated equipment to perform critical surgeries, and increase in trend of home-based digital healthcare equipment. However, the consumer electronics segment held the largest share in 2018, accounting nearly one-fourths of the global MEMS sensor market, as penetration of MEMS sensor is high in consumer electronics.

Asia-Pacific dominated the market, followed by North America

The global MEMS sensor market across Asia-Pacific region dominated the market in 2018, contributing around half of the market and is anticipated to maintain its dominance throughout the forecast period. Moreover, the region is expected to register the fastest CAGR of 11.4% through 2026, owing to an increase in population and rapid adoption of enhance technologies in various industries such as consumer electronics, manufacturing industry, infrastructure.

Major market players

·         Robert Bosch GmbH

·         Panasonic Corporation

·         STMicroelectronics N.V.

·         Analog Devices Inc.

·         Texas Instruments

·         Denso Corporation

·         HP Inc.

·         Broadcom

·         NXP Semiconductors

Knowles Corporation

How Pressure Sensor Industry Changing Electronics Sector Trends?

Increase in adoption of pressure sensors in consumer electronics and surge in usage of pressure sensors in the automotive industry drive the growth of the global pressure sensor market. However, the higher cost of pressure sensor devices hinders the market growth. On the other hand, increasing demand for sensors in the development of smart cities and growing trends toward the internet of things (IoT) create new opportunities for the market player in the coming years.

The global pressure sensor market generated $11.38 billion in 2019, and is estimated to reach $24.85 billion by 2027, registering a CAGR of 10.3% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.

Covid-19 scenario:

• Due to lockdown in several countries, industrial manufacturing and automotive production, which use pressure sensor, have been shut down. Thus, the demand for pressure sensors is expected to decline as it is extensively used in these applications.
• The demand for pressure sensors is likely to experience a downfall during the coronavirus pandemic due to the negatively-affected supply chain amid lockdown.
• The COVID-19 pandemic is receding slowly in countries such as China and India and governments are now lifting the lockdown to start the industrial activities. This is likely to be a huge opportunity for several pressure sensor manufacturers in these countries to generate maximum revenue.

The report offers a detailed segmentation of the global pressure sensor market based on type, technology, application, and region. Based on type, the absolute pressure sensors segment contributed to the largest share in 2019, accounting for more than two-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the gauge pressure sensor segment is estimated to portray the highest CAGR of 12.1% during the forecast period.

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Based on application, the automotive segment accounted for the largest share in 2019, holding more than one-fourth of the total share, and is expected to maintain the largest share throughout the forecast period. However, the industrial segment is expected to register the highest CAGR of 15.0% from 2020 to 2027.

Based on region, Asia-Pacific contributed the highest share, accounting for nearly half of the total market share in 2019, and will maintain its dominance throughout the forecast period. Moreover, it is also expected to grow at the highest CAGR of 11.4% from 2020 to 2027.

Leading market players analyzed in the research include Analog Devices, ABB Ltd., Honeywell, Eaton, NXP Semiconductors N.V., Infineon Technologies, Siemens, Renesas Electronics, Texas Instruments, and STMicroelectronics.

SCARA Robots: Revolutionized Future of Robotics Industry

Growth in need for mass production with reduced operation cost, surge in adoption of industry 4.0 and enabling technologies industries, increase in demand for IoT-based smart solution & automation in several industries for qualitative and reliable manufacturing drive the growth of the global SCARA robot market. However, high expenditure associated with implementation of SCARA robots hampers the market growth. On the contrary, rise in application areas of collaborative robots and increase in demand for automation in Asian countries are expected to create lucrative opportunities in the near future.

Material handling segment dominated the market

By type, the material handling segment held the largest share in 2019, contributing to nearly one-third of the global SCARA robot market, due to growth in electrical, food & beverages, and electronics sectors. However, the assembling and disassembling segment is expected to register the fastest CAGR of 12.6% during the forecast period, owing to high growth in the electronic industry that demands SCARA robots for high-speed assembly task.

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Pharmaceuticals segment to portray the fastest CAGR by 2026

The pharmaceutical segment is expected to manifest the highest CAGR of 13.1% through 2026, owing to increased demand from the pharmaceutical industry to reduce repetitive tasks, save workers for hazardous environments, and reduce training overhead. However, the electrical and electronics segment held the largest share in 2019, accounting for nearly one-third of the global SCARA robot market, due to high robot investment in production automation, retooling for new production process, and performing the handling operations in the industry.

Europe held the lion's share, followed by Asia-Pacific and North America

The market across Europe, followed by Asia-Pacific and North America, dominated in 2019, contributing to more than one-third of the market. However, the global SCARA robot market across Asia-Pacific is expected to portray the fastest CAGR of 11.9% during the forecast period, owing to high adoption of robotics technology in small & medium enterprise and rise in investments in education and research infrastructure.

Major market players

• Seiko Epson Corporation
• ABB
• OMRAN Corporation
• Kawasaki Robotics
• KUKA AG
• Mitsubishi Electric Corporation
• DENSO Corporation (DENSO Robotics)
• Fanuc Corporation
• Stäubli International AG
• Yaskawa Electric Corporation

Recent Industry Analysis on Gas Sensors - Key Vendors and Future Scenarios

Emergence of gas sensors in HVAC system, growth in government standards and regulations concerning emission control, and rise in need for air quality monitoring in smart cities have augmented the growth of the global gas sensor market. Nevertheless, high initial cost of the device impedes the market growth. Contrarily, growing trend toward the internet of things (IoT) is expected create multiple opportunities in the near future.

The global gas sensor market accounted $823.1 million in 2019, and is projected to hit $1.33 billion by 2027, registering a CAGR of 6.4% from 2020 to 2027. The report offers an extensive analysis of changing market trends, top winning strategies, business performance, top impacting factors, and competitive heat map.

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COVID-19 scenario:

• The spread of COVID-19 has immensely affected the global gas sensor industry, owing to supply chain disruptions. There has been a shortage of raw material required for the production.
• The usage of gas sensors in the healthcare industry have been increased as they are used in oxygen concentrators, ventilators, and other respiratory systems.
• Moreover, the construction of new hospitals and healthcare centers would uplift the demand for gas sensors.

The global gas sensors market is segmented by type, technology, end-use, and region. By gas type, the methane segment dominated the market in 2019, accounting for nearly one-fifth of the global gas sensor market. The segment is anticipated to dominate the market throughout 2027. On the other hand, the oxygen segment is anticipated to manifest the highest CAGR of 8.7% during the forecast period.

By technology, the infrared gas sensor segment is projected to portray the highest CAGR of 8.7% during the forecast period. Nevertheless, the electrochemical gas sensor segment dominated the market in 2019, accounting for nearly one-third of the global gas sensor market, and would lead the trail throughout 2027.

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Based on region, the global gas sensor market across Asia-Pacific accounted for the largest share in 2019, contributing to more than two-fifths of the market. The region would rule the roost throughout the forecast period. Furthermore, the region is expected to register the fastest CAGR of 7.7% during the forecast period. The report also analyzes region across Europe, LAMEA, and North America.

The market leaders in the report include Nemoto Gas Sensors, Honeywell Analytics, Figaro Engineering Inc, MSA, Alphasense, GASTEC Corporation, Membrapor, Amphenol, Dynament, and Sensirion.

Industrial Internet of Things (IIoT) Market Size, Share, Industry Analysis and Growth Drivers by 2023

IIoT is a network of multiple devices connected through communications technologies. The sub-systems are able to collect, monitor, analyze, and deliver insights for driving business decisions for the industrial companies. IIoT is an integration of advanced technologies such as Machine-to-Machine (M2M) communication.

The IIoT market size was valued at $115 billion in 2016, and is projected to reach at $197 billion by 2023, growing at a CAGR of 7.5% from 2017 to 2023. In 2016, the hardware components dominated the IIoT market in terms of revenue. Further, based on application, the manufacturing application led the market with 35% share in 2016.

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Increase in technological investments in the developing regions coupled with the emergence of big data analytics has widely driven the global market growth of IIoT. Further, rise in demand from the healthcare industry and the initiation of industry-specific platforms in the developed region is expected to fuel the growth of the market.

The market witnesses a continuous rise in adoption of Internet of Things (IoT) due to presence of factors such as high penetration of Wi-Fi connectivity, technological enhancements in wireless network technologies, and rise in adoption of cloud platform. Furthermore, growth in development of smart transportation and smart cities leads to increased adoption of IoT. This in turns propels the growth of the IIoT market.

Smart and connected products are critical components in the connected supply chain and smart manufacturing processes. Further, the advent of low cost connected devices has enabled manufacturers to adopt IoT technologies to lower resource consumption and increase the overall productivity. Moreover, due to low operational cost, several manufacturers prefer to implement IoT applications in machines to maximize the efficiency with reduced cost.

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The key players profiled in the report include Cisco Systems, Inc., General Electric, Intel Corporation, Rockwell Automation, Inc., ABB, Texas Instruments Inc., Dassault Systmes, Honeywell International Inc., Huawei Technology Co., Ltd., and International Business Machines Corporation (IBM). These market players focus on the development of new technology, launch of novel products with innovative variations, and adoption of partnership and collaboration as key strategies to establish their position in the market.

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