As per the report “Smart Sensor Market by Product (Image, Touch, motion, temperature, pressure, positions), Industry Trends, Estimation & Forecast, 2016-2024”, the global Smart Sensor market was valued at $20.75 billion in 2016, and is projected to reach $81.99 billion by 2024, growing at a CAGR of 18.9% from 2017 to 2024. In 2016, Image Sensors occupied the largest revenue share in the global smart sensor market. Among major regions, European smart sensor market was the largest revenue generating market valued at $6.93 billion in 2016.
“With the advancement of technology and increasing demand of automation, new emerging trends such as smart home, smart cities and smart parking may contribute a lot in the future growth opportunities for the smart sensor market. Steep growth in the usage of consumer electronic devices and their development may accord in the market growth”