Smart Sensor Market Size, Share, Trends, Industry Analysis
Report, 2032

The smart sensor market size is slated to record over 15.7%
CAGR from 2023 to 2032, owing to the increasing integration of Internet of
Things (IoT) technologies across various industries along with the dire need to
enable data collection and communication.

Smart sensors play a crucial role in enhancing automation,
efficiency, and connectivity in applications, such as smart
homes, healthcare, automotive, and industrial settings. The rising advancements
in sensor technologies, including miniaturization, improved sensitivity, and
energy efficiency is driving product innovations.

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For instance, in September 2023, Infineon Technologies
launched the Xensiv SP49 tyre pressure monitoring sensor for offering
intelligent tire functions like auto-position sensing, inflation aid, and
detection of tire blowouts and loads. The rising adoption of smart devices and
wearables is further fueling the demand for sensors capable of monitoring and
transmitting real-time data. The growing emphasis on smart cities and the need
for environmental monitoring solutions will also drive the deployment of smart
sensors for sustainable urban development.

The market is segregated into product, technology, network,
application, and region.

Based on product, the pressure smart sensor market is
projected to depict over 14% CAGR during 2023-2032. The growth can be
attributed to the rising demand for pressure monitoring in various industries
along with the higher advancements in sensor technologies for improved
accuracy. The increasing integration of pressure sensors in applications, such
as automotive, healthcare, and industrial automation will also boost
the segment growth.

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Smart sensor market share from the wireless network segment
is projected to rise at over 15% CAGR from 2023 to 2032. This is due to the
increasing demand for seamless connectivity, the proliferation of IoT devices,
and the higher adoption of wireless communication protocols. The deployment of
smart sensors to promote connectivity and real-time data transmission will also
add to the segment expansion.

Regionally, the North America smart sensor industry is
projected to depict over 14% CAGR during the analysis period. The growth can be
ascribed to the increased adoption of IoT technologies and the rising demand
for automation and connectivity. The increasing advancements in sensor
technologies and the expanding application scope in industries like automotive,
healthcare, and consumer electronics will also fuel the regional market
expansion.

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