Sensor is a device or an element made for a purpose to detect an occurrence of any event or change in the environmental condition and if found, provide a corresponding output. Broadly, sensor is a transducer which intakes one kind of energy (mostly optical & electrical) to operate & gives different types of output. Today sensors are being used in everyday life in every electronic producct and with the advancement in technologies, the demand of instrumentation and automation has been increasing over the years and expected to grow further in the upcoming future with highest possible demand. Advanced sensors are the smart sensor which is grouping of simple sensor and meddling circuits, Advanced sensors are basically used for digital application i.e. for the conversion of analog to digital and it can be used through various industries such as industrial, consumer electronics, medical, automotive, security & defence and entertainment because of increasing use of process controls and sensing element in this sectors.
The consistent increasing demand of Advanced Sensor Market has continuously been increasing globally and expected to grow with CAGR in double digits & the same scenario might be seen for next six to seven years in global advanced sensor market.
Advanced Sensor: Market Dynamics
For last some years, demand for advanced sensors have been increasing in the consumer electronics and automobile vehicle like Cars, trucks, buses, use of advanced sensor is also increased in laptop, smartphones and other smart devices with touch screen display, which are coming out as new trends for advanced sensor market. The key growth drivers of global advanced sensor market are increased adoption of advanced sensors in various industries like healthcare, logistic, and defence, need for advanced security solutions in the automobiles, drastic rising demand of advanced sensor in industrial applications in order to save energy, increased demand in military application for target detection as in drone and aircrafts. These are some other drivers support the growth of global advanced sensor market. On the other hand high replacement as well as deployment cost, lack of privacy, lack of customization & its complexity are some of the restraints responsible to hinder the growth of global advanced sensor market.
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Advanced Sensor: Segmentation
Market segmentation for advanced sensor is done on the basis of application, type and region. On the basis of application, global advanced sensor market is segmented into automobiles, industrial, infrastructure, consumer electronics, food and beverages, medical, and avionics application. In industrial applications advanced sensors are used for the collection and processing of information, also advanced sensors have evolving application for pollution control in industrial sector, in Automobile applications advanced sensors are widely used for safety purpose, collision avoidance system for vehicles is an example of this application, in aerospace application, advanced sensors are used for traffic alert system.
By types, global advanced sensor market can be segmented into flow sensors, smart temperature sensor, touch sensors, smart position and sensor turbidity sensor and others.
Geographically, advanced sensor market is segmented into seven regions which are; North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific Excluding Japan (APEJ), and Middle East and Africa (MEA). Western Europe region is dominating the global advanced sensor market whereas Asia-Pacific is ranked as fasted growing market because of rapid industrialization pace, strengthening manufacturing activity, and strong economic development especially in India and china.
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Advanced Sensor: Key Players
The key players of global advanced sensor market are ABB LTD., Honeywell International Inc., Eaton, Baumer Customer Sensor & Technologies Inc.,Balluf Inc.Analog Devices Inc., Eaton Corporation Plc., Infineon Technologies AG, NXP Semiconductors, Emerson Process Management and others.