DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Canada Smart Sensors Market - Growth, Trends and Forecast (2016 - 2021)" report to their offering.
The market for Smart Sensor in Canada is expected to reach at US$ 0.36 million in 2020, growing at a CAGR of 10.14% from the period 2015-2020. The growth of the market is fueled by increasing adoption in automobile sector. It has been emerged as one of the top contributor in the overall market size due to increase in the number of smart vehicles.
A Sensor can be described as a chip or a device that smoothens the process of measuring the fluctuation regarding temperature, pressure, acceleration or others that are critical to enhance the process, optimizes cost and saves energy. Sensor with Integrated Circuits forms smart sensors that gathers analyses and gives the instruction as per the built-in logic. Some of the benefits associated with these sensors are scalability, reliability and cost effectiveness. These are widely used in industries like aerospace & defense, automotive, consumer electronics and among others. Sports segment is recognized as one of the emerging sectors for smart sensors market. The market for Canada Smart sensors market is expected to gain traction during the forecast period. Advancement in technology has led to the emergence of small size sensors with optimal performance and reliability.
DriversFurther, the market growth has been fueled by the driving factors such as Technological advancements, increasing Demand for Low-cost, High Performance and Reliable Sensors and growing demand for enhanced life.
Also, the demand for sensors across various industries has increased leading to increase in traction in the overall market.
In addition to that, the demand to reduce the average weight of a car is also driving the demand for sensors in automotive sector. Light weight cars helps in fuel efficiency as well as optimization of energy.
Key Topics Covered:
2. Key Findings
3. Market Overview & Dynamics
5. Porter'S Five Forces Analysis
6. Market Segmentation
7. Company Profiles
8. Investment Analysis
9. Future Of Smart Sensors Market
For more information about this report visit http://www.researchandmarkets.com/research/l2l3j9/canada_smart