Smart Sensors Market

Smart Sensors Companies - Analog Devices, Inc. (US) and TE Connectivity (Switzerland) are the Key Players

The smart sensors market was valued at USD 61.9 billion in 2024 and is projected to reach USD 136.3 billion by 2029; it is expected to grow at a CAGR of 17.1% from 2024 to 2029. Surging demand for IOT-based devices and consumer electronics, increasing use of smart sensors to meet Industry 4.0 requirements, and high demand for smart sensors in automobile industry are some of the key drivers driving the growth of smart sensors market.

Some prominent smart sensors industry players have predominantly used acquisition and partnership tactics to strengthen their market position.

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Major Smart Sensors companies include:

  • Analog Devices, Inc. (US)
  • Infineon Technologies AG (Germany)
  • Texas Instruments Incorporated (US)
  • Microchip Technology Inc. (US)
  • STMicroelectronics (Switzerland)
  • TE Connectivity (Switzerland)
  • Siemens (Germany)
  • ABB (Switzerland)
  • Honeywell International Inc. (US)
  • Robert Bosch GmbH (Germany)
  • TDK Corporation (Japan)
  • Sensirion AG (Switzerland)
  • Eaton (Ireland)
  • Emerson Electric Co. (US)
  • NXP Semiconductors (Netherlands)
  • General Electric (US)
  • Legrand (France)
  • Balluff GmbH (US)
  • Renesas Electronics Corporation (Japan)
  • MEMSIC Semiconductor Co., Ltd. (China)
  • In January 2024, Microchip Technology Inc. (US) launched the MCP998x family of 10 automotive-qualified remote temperature sensors. The MCP998x family is one of the largest portfolios of automotive-grade multi-channel temperature sensors in the industry and is designed for 1°C accuracy at a wide operational temperature range. The device family includes five sensors with shutdown temperature setpoints that are designed not to be overwritten by software or maliciously disabled.
  • In December 2023, Honeywell International Inc. (US) announced the acquisition of Global Access Solutions business of Carrier Global Corporation (US) to enhance and strengthen its building automation capabilities. This acquisition will enable Honeywell to become a leading provider of security solutions for the digital age.

Analog Devices, Inc. (US), and TE Connectivity (Switzerland) are among the top 5 players in the smart sensors market.

Analog Devices, Inc.

Analog Devices, Inc. is one of the leading high-performance analog technology companies. The company designs, manufactures, tests, and markets a broad portfolio of solutions, including integrated circuits (ICs), software, and subsystems that leverage high-performance analog and mixed signal, as well as digital signal processing technologies. The product portfolio and manufacturing capabilities of the company spread across power management and processing technologies such as data converters, amplifiers, power management, radio frequency (RF) ICs, digital signal processors (DSP), and other sensors.

The company provides its offerings through four segments: industrial, automotive, consumer, and communications. Its main product categories include converters, amplifiers, power management and reference, digital signal processing, and other analog products. The signal processing products of the company operate in converting, conditioning, and processing real-world phenomena such as temperature, sound, light, pressure, speed, and motion into electrical signals. Their analog technology portfolio comprises sensor and actuator products, including products based on Microelectromechanical System (MEMS) technology. MEMS technology enables to build extremely small sensors that incorporate an electromechanical structure and the supporting analog circuitry for conditioning signals obtained from the sensing element. Their MEMS product portfolio includes accelerometers to sense acceleration, gyroscopes to sense rotation, inertial measurement units to sense multiple degrees of freedom combining multiple sensing types along multiple axes, and broadband switches suitable for radio and instrument systems. They offer other high-performance sensors, from temperature to magnetic fields, deployed in various systems.

The company has many subsidiaries around the world, namely Maxim Integrated (US), Linear Technology Corporation (US), Symeo GmbH (Germany), and OtoSense, Inc. (US). Some of its other subsidiaries are Analog Devices Co., Ltd. (China), Analog Devices Ltd. (Israel), Analog Devices AB (Sweden), Analog Devices GmbH (Germany), Analog Devices GmbH (Austria), and Analog Devices India Private Limited (India).

Analog Devices, Inc. provides products to more than 125,000 customers through a direct sales force, third-party distributors, and independent sales representatives. The company has direct sales offices, sales representatives, and/or distributors in over 50 countries outside North America.

TE Connectivity

TE Connectivity (formerly known as Tyco Electronics Ltd.) is one of the leaders in designing and manufacturing connectivity and sensor solutions. The company has an extensive product portfolio that includes antennas, cable assemblies, connectors, fiber optics, heat shrink tubes, power systems, relays, contactors and switches, sensors, and wires and cables. These products are used in several industries, such as aerospace, automotive, defense & military, medical & healthcare, and oil & gas.

TE Connectivity operates through 3 segments—transportation solutions, industrial solutions, and Communications Solutions. The Transportation Solutions segment includes terminal and connector systems and components, sensors, relays, application tooling, and wire and heat shrink tubes, whereas the Industrial Solutions segment includes terminal and connector systems and components, heat shrink tubes, relays, and wires and cables. The Communications Solutions segment develops, manufactures, installs, and maintains subsea fiber-optic communications systems and offers terminal and connector systems and components, undersea telecommunications systems, relays, heat shrink tubes, and antennas. The company offers industrial sensors through its Transportation Solutions segment.

TE Connectivity has a presence in the Americas, Europe, Middle East & Africa, and Asia Pacific regions and operates in approximately 140 countries. The company’s subsidiaries include TE Connectivity HK Ltd. (Hong Kong), TE Connectivity Solutions GmbH (Switzerland), TE Connectivity Germany GmbH (Germany), TE Connectivity Corporation (US), and Tyco Electronics Japan G.K. (Japan), among others.

Related Reports:

Smart Sensors Market by Type (Temperature & Humidity Sensor, Pressure Sensor, Motion & Occupancy Sensor), Technology (CMOS, MEMS), Component (Microcontrollers, Amplifiers, Transceivers), End-User Industry and Region - Global Forecast to 2029

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Smart Sensors Market Size,  Share & Growth Report
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