MRO Magazine

Research and Markets: United States Smart Sensors Market 2015-2020 – Growth, Trends and Forecasts


June 12, 2015
By Business Wire News

DUBLIN

Research and Markets (http://www.researchandmarkets.com/research/2dstbf/the_us_smart) has announced the addition of the “The US Smart Sensors Market – Growth, Trends and Forecast (2014-2020)” report to their offering.

The US market for the Smart Sensor is expected to reach US$2.16 million in 2018, growing at a CAGR of 12.16% from the period 2014-2020. The growth of the market is fueled by increasing adoption in the automobile sector. It has emerged as one of the top contributors in the overall market size due to an increase in the number of smart vehicles.

Sport industries have also emerged as one of the emerging sectors for the smart sensors market. The US market for Smart Sensors is expected to gain traction during the forecast period. Advancement in technology has led to the emergence of small-sized sensors with optimal performance and reliability. Further, the market growth has been fueled by the presence of several drivers such as technological advancements, increasing demand for low-cost, high performance and reliable sensors and a growing demand for enhanced life.

DRIVERS

  • The increasing market demand for smart sensors is being driven by a growing need for energy-saving devices. The changing scenario demands energy-efficient equipment and products, considering the fact that the businesses are in energy-saving mode.
  • Also, the demand for sensors across various industries has also increased, leading to increase in traction in the overall market.
  • In addition to that, the demand to reduce the average weight of a car is also driving the demand for sensors in the automotive sector. Lightweight cars helps in fuel efficiency as well as optimization of energy.

RESTRAINTS

  • Apart from several drivers, the market is being hindered by many challenges. One of the restraints that effect the growth of the market is miniaturization and lack of integration.
  • This report also describes a detailed study of the Porter’s five forces analysis of the market. All of the five major factors in these markets have been quantified using the internal key parameters governing each of them. It also covers the market landscape of these players, which includes the key growth strategies, geographical footprint, and competition analysis.
  • In addition to that, the US Smart Sensors Market is segmented on the basis of Type (Flow Sensors, Temperature Sensors, Pressure Sensors, Touch Sensors, Position Sensors and Others), Technology (MEMS, Optical Spectroscopy, CMOS and Others), Component (Analog to Digital, Digital to Analog and Others), and by Industry (Aerospace, Automotive, Biomedical, Industrial, Building Automation, Consumer Electronics and Others).

What the report offers

  • US Smart Sensors Market Overview with information on drivers and restraints
  • In-depth Smart Sensors Market Analysis and its applications in the industry
  • Identification of factors responsible for changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale
  • Extensively researched competitive landscape with profiles of major companies along with their market shares

Company Profiles

  • ABB Ltd.
  • Airmar Technology Corporation
  • Analog Devices Inc
  • Banpil Photonics Inc.
  • BeanAir
  • Colibrys Ltd.
  • Comus international
  • Eaton Corporation
  • Freescale Semiconductor Inc.
  • Gira Giersiepen GmbH & Co. KG
  • Honeywell international Inc.
  • Infineon Technologies AG
  • Innovative Sensor Technology (IST) AG
  • Nanjing IOT Sensor Technology Co. Ltd.
  • Oceana Sensor Technologies Inc.
  • Siemens AG
  • Sensirion AG
  • Smart Sensors Inc.
  • Vishay Intertechnology Inc.
  • XYZ interactive Technologies Inc.

For more information visit http://www.researchandmarkets.com/research/2dstbf/the_us_smart.

Research and Markets
Laura Wood, Senior Manager
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