Smart Sensors Market Segmentation:
Sensor Type Segment Analysis
Pressure sensors segment is poised to dominate smart sensors market share of over 30.1% by 2035. This growth can be impelled by the increasing adoption of pressure sensors for boosting efficiency, and automation of the production processes. According to Research Nester’s analysis, more than 45 % of businesses across the globe are planning to automate their repetitive tasks by 2024. Moreover, HVAC systems have also recognized the importance of pressure sensors, as they provide accurate measurement of pressure levels and alarm the system when maintenance is required.
Technology Segment Analysis
In smart sensors market, MEMS segment is estimated to dominate revenue share of over 60.3% by 2035. The growing use of this technology allows the sensor to operate effectively by enabling it to maintain a significant amount of information in a split second.
Moreover, this technology is also set to have capability to operate in harsh environments, which is why its adoption is growing significantly in the oil industry. Hence, the surging production of oil is anticipated to observe exponential growth in the market. U.S. Energy Information Administration, reported that in 2022 over 80.75 million barrels of crude oil were produced in 98 countries.
Our in-depth analysis of the global market includes the following segments:
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