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The global smart/intelligent sensors market is negatively affected by the global coronavirus pandemic due to strict lockdowns, decrease in sales, and halted automobile production. Manufacturers operating in the automotive industry are recovering from the losses caused due to disturbed ecosystem and decreasing sales of vehicles. Major players operating in the market are investing and expanding their production capabilities to deploy innovative smart/intelligent sensors.
Key players operating in the global smart/intelligent sensors market are focusing on the design of cost-effective smart/intelligent sensor products to attract more customers across the globe. The significant presence of market players operating the global smart/intelligent sensors market is also contributing to the global market growth during the forecast period.
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The rising demand for smart/intelligent sensors from the automotive industry is driving the global smart/intelligent market during the forecast period. These sensors are used in automobiles for monitoring oil pressure, battery charging, and temperature. These sensors are used to activate a dashboard light to indicate an issue, and also offer features such as monitoring brake pad wear, seat belt use, and tire pressure. Vehicle manufacturers are making use of these smart sensors to design collision mitigation systems. Most modern vehicles include automated lights that turn on in dark and windscreen wipers that are activated by a sensor that detects rain on the windscreen. Smart/intelligent sensors contribute to the vehicle safety on increasingly congested highways and roadways; hence, they are widely adopted in the automobile industry. This factor is driving the global smart/intelligent sensors market during the forecast period.
Smart sensors are used in medical care services in developing countries. The mobile health monitoring system is a model developed based on sophisticated computer networks, advanced communications, and sensor technologies. The increasing adoption of the mobile health monitoring system in order to provide healthcare services for people anywhere, anytime is driving the demand for smart/intelligent sensors. Patients can inform their health condition to doctors with the help of these devices. Wireless sensing devices can be used to transmit the collected data to medical professionals for further analysis. All these factors are anticipated to drive the smart/intelligent sensors market during the forecast period.
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Smart sensor, an important component of the IoT, is used in an incredibly prevalent environment in which nearly everything can be equipped with a unique identification, and the ability to transmit data via the Internet or another network. Smart sensors are used in cell phone navigation, wearable devices, and autonomous vehicles. Smart sensor systems are increasingly being used due to their efficiency, ease of use, and improved communication capabilities. Smart sensors are widely used in industrial and residential applications, as these systems are highly adaptable. The increasing demand for smart temperature sensors and vibration sensors in end-use industries to check excessive heating and vibration of machineries is driving the global smart/intelligent sensors market. These devices can also be used in smart home devices to connect home appliances and interior equipment to the Wi-Fi in a residential facility.
There is a growing demand for smart/intelligent sensors from Europe due to the robust growth of the market in Europe. Some of the factors such as high healthcare standards, developed infrastructure, and presence of leading automobile manufacturers, including Audi, Renault, and BMW are driving the Europe smart/intelligent sensors market.
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North America is also expected to offer potential growth opportunities in the smart/intelligent sensors market. Growing demand for advanced medical equipment, introduction of advanced features in automobiles, and consumer preference for the replacement of electronic devices for technologically advanced features have propelled the expansion of the market in this region. Key players are focusing on advancements in smart/intelligent sensors, thereby expanding their applications across other sectors.
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