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Global Smart Sensor Market Forecast

March 24, 2014
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DUBLIN—Research and Markets has announced the addition of the "Global Smart Sensor Market 2012-2016" report to their offering.

The analysts forecast the Global Smart Sensor market to grow at a CAGR of 11.1 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for smart sensors in the Automotive sector. The Global Smart Sensor market has also been witnessing rapid technological advancement. However, high cost of deployment could pose a challenge to the growth of this market.

Key vendors dominating this space include Robert Bosch GmbH, OMRON Corp., Infineon Technologies AG, Honeywell International Inc., and Analog Devices Inc.

Other vendors mentioned in the report are ABB Ltd., Delphi Automotive LLP, Meggitt Sensing Systems, Invensys PLC, Siemens AG, Vishay Intertechnology, and Yokogawa Electric Corp.

Commenting on the report, an analyst from the Hardware team said: "Technological advancements in the market have led to an increase in the number of smart sensor applications in various sectors. Furthermore, smart sensor vendors are capable of delivering high-quality products for customers. The rapid rate of change and technological advancements in the Global Smart Sensor market has resulted in the development of advanced and highly accurate smart sensors. Thus, end-users can completely rely on smart sensors for various applications."

According to the report, in automobiles, specifically passenger cars, smart sensors are used in air bag safety systems. Conventional air bags were not so effective in sensing accidents, whereas, smart sensors can quickly sense an impending crash, its nature, the vehicle position, and also determine the type of airbag to be used and the speed of its deployment. This helps in minimizing the injuries sustained by the passengers. Therefore, in many cars, conventional sensors are being replaced by smart sensors. Hence the demand for smart sensors in the Automotive sector posted a significant increase.

For more information, visit http://www.researchandmarkets.com/research/s27ddc/global_smart.

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