The global market for sensors was estimated at $56.3 billion in 2010. It is expected to increase to $62.8 billion in 2011 and then to nearly $91.5 billion by 2016, at a compound annual growth rate (CAGR) of 7.8%.
The market for biosensors and chemical sensors is expected to experience the highest growth, at a compound annual growth rate (CAGR) of 9.6% during the 5-year period from 2011 to 2016. This sector is expected to be worth $13 billion in 2011 and $21 billion in 2016.
Image sensors will experience high growth because of their increased use in smart phones and many other portable devices. The image, flow, and level sensors category is estimated at $18 billion in 2011 and is expected to increase at an 8.5% compound annual growth rate (CAGR) to reach $27 billion in 2016.
GLOBAL MARKET FOR SENSORS, 2009-2016
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Sensors are an important part of any measurement and automation application. The sensor is responsible for converting physical phenomenon into a quantity measurable by a data-acquisition system. The proliferation of advanced electronic control systems has provided sensor users ongoing advances in sensor accuracy, reliability, response time, robustness, miniaturization, communications capability, and efficiencies. This has fueled research and development in the sensors industry, which in turn creates opportunities for technology advancements that open up new applications for sensors.
Application support holds the key to the development of new technologies. What drives the adoption of the core technology in the industrial sector is the availability of a solution that can provide seamless integration into existing automation systems. A need exists for technology and product development to be focused on industrial applications through appropriate additional integration and value-added tests. This must, in turn, be supported by a long-term strategy and road map for the industrial market.
STUDY GOAL AND OBJECTIVES
This report studies the role of sensors in various applications, explains the technology and innovation behind sensor development and production, and provides a quantitative and detailed market overview, analyzing major market trends both in terms of region and application sector. In addition, the report examines new developments taking place in the sensors industry with respect to continuous improvements in environmental performance. The report analyzes the market for various sensors as well as for the technologies involved. The market for various emerging technologies in sensors as well as the new products produced using these technologies is also examined.
The report also analyzes the various applications of sensors, with a special emphasis on new products in development, and the markets for these products. In addition to new product development, research and development is taking sensor technology to new heights and a closer look into these technologies has been made in this report. This report pinpoints the need for the industry’s commitment to continuous improvement in environmental performance and takes a glimpse into a future where the functionality of coatings will be enhanced and transformed from the conventional areas of protection and aesthetics to meet more specific demands.
REASONS FOR DOING THE STUDY
For a company to succeed in a competitive market, it must identify product opportunities from the viewpoint of the company’s strengths. To this end, it is necessary to understand the size and growth rate of any opportunity and the competitive atmosphere in which the company exists. This report presents the ideal medium to understand the increasing opportunities in the field of sensors, including their applications, and will help a prospective manufacturer, distributor, or user to succeed in this growing industry.
The report will be relevant to the following stakeholders:
- Marketing managers identify new market opportunities and develop targeted promotion plans for sensors and allied products
- Research and development professionals to stay on top of competitor initiatives and explore demand for sensors and to develop new products and for new applications
- Advertising agencies working with clients in the sensors industry to understand the products and to develop messages and images that will influence consumers to purchase these products
- Business development executives to understand the dynamics of the market and identify possible new markets
- Information and research center librarians to provide market researchers, brand and product managers with the information needed to do their jobs more effectively
SCOPE OF REPORT
The report has been prepared in a simple format that can be easily understood with a number of tables and charts/figures. The scope of the report includes a detailed study of global and regional markets for various types of sensors and their applications with an explanation of variations in the growth of the industry in each region. The market size values for 2009 and 2010 are actual market data; the values for 2011 and future years are estimated.
Both primary and secondary research methodologies were used in preparing this study. Initially, a comprehensive and exhaustive search of the literature on sensors was conducted. These sources included sensor journals and related books, trade literature, marketing literature, other product/promotional literature, annual reports, security analyst reports, and other publications. A patent search and analysis were also conducted. Subsequently, telephone interviews and email correspondence was conducted with marketing executives, product sales engineers, international sales managers, application engineers, and other sensor company personnel. Other sources included sensor magazines, academics, technology suppliers, technical experts, and consulting companies.
The primary information sources include manufacturers and suppliers of sensors and allied products around the world, raw material suppliers for the manufacture of these products, major users of these products, research organizations, governmental agencies, trade associations, and various equipment suppliers. Secondary research sources, including databases, trade literature, specialized journals, and government statistics, were researched while compiling this report.
The analyst, Srinivasa Rajaram, is a mechanical engineer with more than 40 years of experience in designing factory layouts and setting up factories. He was also senior vice president of M/S Schenck Avery, Ltd., an Indo-German joint venture, and has authored several technology market research reports for BCC Research.
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The information developed in this report is intended to be as reliable as possible at the time of publication and of a professional nature. This information does not constitute managerial, legal, or accounting advice; nor should it serve as a corporate policy guide, laboratory manual, or an endorsement of any product, as much of the information is speculative in nature. The author assumes no responsibility for any loss or damage that might result from reliance on the reported information or its use.
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