Today's professionals are constantly striving to create sensor technology and systems with lower cost and higher efficiency. Miniaturization and standardization have become critical drivers for cost reduction in the design and development process, giving rise to a new era of smart sensors and actuators. These devices contain more components, but normally provide significant cost savings due to wider applicability and mass production. This first-of-its-kind resource presents methods for cost optimization of smart microsystems to help professionals select highly cost-efficient implementation variants. Written by leading experts, the book offers detailed coverage of the key topics that engineers need to understand for their work in the field, such as methods for cost estimation, holistic design optimization, a methodology for a cost-driven design, and applied cost optimization.