Use of advanced technology has thrived the growth in the numerous industries across the globe. A significant growth with these developments is of sensor, which is a major part of smart technology. Thus, with the growing use of smart technologies, the demand for sensors has increased significantly and is seen in assembling infrastructure systems, smart water networks, intelligent transportation, smart grids, and smart homes. Moreover, exponential rise in the demand for electronic devices has further augmented growth in the global sensors market. While developing consumer electronic sensors including motion sensors, pressure sensors, and image sensors are widely used. Adding further, growing popularity of wireless technology has is also working in favor of the growth of the sensor market, as for the proper functioning of wireless technology sensors play crucial part. For better real-time analysis also sensor are required.
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Numerous Opportunities for Innovative Players
Players operating in the sensors market are also making significant efforts in product innovation. The need to stay ahead in the league and mark ones presence has encouraged these players to invest in different business development strategies. For example, Honeywell recently launched Amazon Alexa voice-ready thermostat to be used in hotels. INNCOM e7 Thermostat (e7) by Honeywell is the prime enterprise-grade environmental control and energy management solution that integrates Amazon Alexa voice control for an easy guest experience including drapery, lighting, room temperature, and amenities services. Other companies are also making such path breaking efforts that are contributing massively in the growth of the global sensors market. Some of the prominent companies operating in the global sensors market include ABB Ltd., Robert Bosch GmbH, Emerson Electric Company, Siemens AG, NXP Semiconductor N.V., and Omron Corporation.
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