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Global Market for Smart Sensors to Reach $7.8 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.
Date:10/30/2008

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.

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

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