The major drivers for this market include the growing concern toward security & surveillance, rising need for energy-efficient devices, and favorable government initiatives. The growing consumer electronics sector, surge in automotive industry on a global basis, and the growing trend of miniaturization in sensors are the other major factors driving the smart sensor market.

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Pressure sensors are among the key measuring and monitoring sensors used in most end–user industries. Pressure is an important parameter of diverse disciplines such as aerodynamics, thermodynamics, acoustics, fluid mechanics, and biophysics. MEMS-based pressure sensors have been widely utilized in consumer electronics, automotive systems, environmental monitoring, and medical diagnostics sectors among others. Thus, these sensors are expected to hold the major share of the smart sensor market between 2016 and 2022.

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The tremendous technological developments in the past decade have led to considerable reduction in the size of sensors; for instance, the size of pressure sensor has been reduced from approximately 0.5um to 1 mm. The reduction in the size of these sensors and the adoption of MEMS technology have resulted in a wide horizon of applications for sensors in the fields of automotive, aviation, healthcare, wireless and optical communications, and consumer products. Moreover, the growing demand for smart devices and wearable electronics in the consumer electronics sector are some of the major growth drivers.