The importance of smart sensors has been rapidly increased in the past few years. The awareness regarding safety has increased the demand for these products. Companies are collaborating to produce an innovative product and launch in the market. They are partnering with each other to create more efficient sensors than before. New technologies have been developed to make cars safe. These strategies will help companies increase their market share. According to the report published by Allied Market Research, the global smart sensor market is expected to reach $143.65 billion by 2027. Companies are adopting several strategies to increase their dominance in the market against competitors.