The global smart sensor market was valued at $20.75 billion in 2016 and is projected to reach $81.99 billion by 2024, growing at an annual rate of 18.9%. Image sensors occupied the largest market share in 2016. The European smart sensor market was the largest regional market, valued at $6.93 billion in 2016. Image sensors are expected to grow at 17.5% annually through 2024. Automotive applications generated $4.85 billion in 2016 and are projected to have the highest growth rate of 19.1% due to increasing use of smart sensors in vehicle climate control and comfort systems.

1. Smart Sensor Market revenue will
reach $81.99 billion by 2024, says
Esticast Research and Consulting

2. The global Smart Sensor market was valued at $20.75
billion in 2016, and is projected to reach $81.99 billion by
2024, growing at a CAGR of 18.9% from 2017 to 2024. In
2016, Image Sensors occupied the largest revenue share in
the global smart sensor market. Among major regions,
European smart sensor market was the largest revenue
generating market valued at $6.93 billion in 2016.
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3. Image sensor products lead the smart sensor market in 2016,
growing with a CAGR of 17.5% during the forecast period
The Image Sensor market lead the global smart sensor market garnering
a revenue of $5.38 billion in 2016. However, the highest CAGR of 20% is
supposed to be witnessed by the smart temperature sensor market
during the forecast period. This is because of the considerable increase in
the demand for smart and automotive temperature systems and a
considerable growth of HVAC system market. There are tremendous
opportunities for the research and development in this very segment and
hence innovative technical advancements will be flourishing the smart
temperature sensors technology as an integral part of various smart city
and automotive temperature control systems.
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4. Automotive industry generated a revenue of $4.85 billion in 2016
and is expected to grow with highest CAGR of 19.1% during the
forecast period. This is due to the extensive use of automatic
climate control in vehicles, which is achieved by using smart
sensors which help control the cooling systems and improve
passenger comfort. Moreover, the products are assembled within
the air-conditioned seats to control humidity and temperature and
help reduce the overall energy consumption in the vehicles.
Automotive Industry lead the market by holding the
maximum share of 23.38% in 2016

5. “
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With the advancement of technology and
increasing demand of automation, new
emerging trends such as smart home,
smart cities and smart parking may
contribute a lot in the future growth
opportunities for the smart sensor market.
Steep growth in the usage of consumer
electronic devices and their development
may accord in the market growth”

6. Smart Sensor Market Revenue by Geography
European market
holds nearly 34% of
the global smart
sensor market and
is expected to grow
having the highest
CAGR of 19.7%
during the forecast
period.
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7. European smart sensor market held the largest revenue
share of $6.93 billion dollars in 2016
Europe is one of the most technologically advanced application
market globally. This is mainly due to the focus on interdisciplinary
research to produce reliable and intelligent sensors that can be used
in various applications. As a result of relatively large size of
aerospace & defense and automotive application, Europe holds a
leadership position in smart sensor market.
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8. ▪ Image sensor products lead the smart sensor market in
2016, growing with a CAGR of 17.5% during the forecast
period.
▪ Automotive Industry lead the market by holding the
maximum share of 23.38% in 2016
▪ European smart sensor market held the largest revenue
share of $6.93 billion dollars in 2016
▪ North American medical equipment segment generated
the highest revenue of $1.37 billion in 2016 and is
expected to grow with the highest CAGR of 19.2% during
the forecast period.
Key Findings Of Global Smart Sensor Market
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9. Key Vendor Profiles
 Emerson Process Management
 Infineon Technologies AG
 NXP Semiconductors N.V.
 STMicroelectronics N.V
 Yokogawa Electric Corp.
 Siemens AG
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10. Market By Geography
Europe
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Asia-Pacific
North America
Africa

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