Global Market for Smart Sensors to Reach $7.8 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

Consistent increase in capital spending by process industries and manufacturers of industrial machinery, growing demand for reduction of downtime and performance enhancement of the machinery are fueling the growth in smart sensors market. Global market for Smart Sensors is projected to reach $7.8 billion by 2015.

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Smart Sensors: A Global Strategic Business Report

San Jose, CA (PRWEB) October 30, 2008

Sensor networks and smart sensors are being used widely in industries, including automotive, medical, industrial, entertainment, security, and defense due to increased usage of process controls and sensing elements in different sectors. Use of smart sensors in counter-terrorism applications including cargo tracking, biometrics among others is also increasing. Smart systems are being readily accepted by the auto industry as automakers explore ways to save lives, deflect safety concerns and preempt costly litigation. Smart systems can sense an impending crash, its nature, the presence of occupants, their position, and determine the type of airbags to be fired and the force and speed of their deployment. Motion-tracking sensors and inertial sensors based on micro-electromechanical system (MEMS) are widely being used in medical applications. Implantable devices that are small in size and yet possess high reliability, and handheld devices for use in diagnostics and home monitoring mainly drive the demand for such sensors.

Europe represents the largest and fastest growing smart sensors market and is projected to reach US$2.1 billion by 2010, as stated by Global Industry Analysts, Inc. Smart flow sensors represent the largest product segment in the global smart sensors market. North American smart flow sensors market is projected to reach US$660 million by 2010. Smart pressure sensors are expected to emerge as the fastest growing product segment in the smart sensors market worldwide. Smart Pressure Sensors market in Asia-Pacific is expected to post a CAGR of 6.5% over the period 2000-2010.

Leading global and regional players operating in the market include ABB, Analog Devices, Custom Sensors & Technologies (CST), Delphi Automotive Systems, Eaton Corp., Emerson Process Management, Honeywell, Infineon Technologies AG, Invensys PLC, Motorola, Oceana Sensor Technologies, Omron, Raytek, Robert Bosch Corp, Siemens AG, Vishay Intertechnology, Wilcoxon Research Inc., and Yokogawa.

"Smart Sensors: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, product profile, players, recent developments, mergers, acquisitions, and other strategic industry activities. Analysis is presented for major geographic markets including North America, Japan, France, Germany, Italy, the UK and Asia-Pacific for the period 2000-2015. Analytics are provided for product segments including Smart Flow Sensors, Smart Pressure Sensors, Smart Temperature Sensors and Smart Load Cells.

For more details about this research report, please visit
http://www.strategyr.com/Smart_Sensors_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
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