atulpmrApril 25, 2021
Automation has redefined the global manufacturing and industrial landscape, with semiconductor technologies taking center stage across a multitude of industry applications. The demand for smart sensors and associated technologies is likely to remain on a very high growth trajectory, with demand pouring in from emerging and technologically aware markets such as Japan, China, and South East Asia.
Projections from a new market analysis by Persistence Market Research indicate that the global smart sensor market revenue will rise from an estimated US$ 26 Bn in 2018 end to more than US$ 82 Bn by the close of 2026, resulting in a growth rate of 15.3% during the eight period from 2018 to 2026. Asia Pacific is expected to be a key contributor towards this growth, with increasing adoption anticipated to be witnessed across the automotive industry in the region. The U.S is expected to maintain a leading position in the global market for smart sensors, owing to the presen