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- The global smart/intelligent sensors market is expected to exceed the valuation of US$ 208.09 Bn by 2031
- North America is prognosticated to maintain prominent market position, owing to the expansion of the regional healthcare and automotive industries
ALBANY, N.Y. , April 5, 2022 /PRNewswire/ -- The global smart/intelligent sensors market is estimated to register growth at a CAGR of 18.2% during the forecast period of 2021 to 2031, notes a study by Transparency Market Research (TMR).
Smart sensors are gaining traction and considered to be playing critical part in the wide acceptance of Internet of Things (IoT). These sensors are utilized for varied purposes across wearable devices, autonomous vehicles, and cell phone navigation. Furthermore, many companies from diverse industries are focusing on replacing simple sensor systems with smart sensor systems, owing to different advantages of the later one. For instance, smart sensor systems are known for offering improved efficiency, are easy to use, and provide advanced communication capabilities. Hence, rising adoption of these systems across residential as well as industrial applications is creating prominent business avenues in the global smart/intelligent sensors market.
The smart/intelligent sensors market in North America is projected to gain prominent business prospects during the forecast period. This growth can be ascribed to many factors, including incorporation of innovative features in automobiles, increase in consumer preference for the replacement of electronic devices for technologically advanced features, and rise in the use of next-gen medical equipment.
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Smart/Intelligent Sensors Market: Key Findings
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Smart/Intelligent Sensors Market: Growth Boosters
Smart/Intelligent Sensors Market: Competition Landscape
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Smart/Intelligent Sensors Market: Key Players
Some of the key players profiled in the report are:
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Smart/Intelligent Sensors Market Segmentation
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