REPORT SCOPE
INTRODUCTION
STUDY GOALS AND OBJECTIVES
BCC Research’s goal in conducting this study is to explore the different factors affecting industries directly related to artificial sensing. BCC used real revenue numbers to measure the global market value of the different artificial sensing-related products presented in this report.
The key objective is to present a comprehensive analysis of the current artificial sensing-related technology and market growth, market drivers and inhibitors, and the size and growth of artificial sensing applications and products as they apply to different medical, business, and governmental sectors.
REASONS FOR DOING THIS STUDY
Artificial sensing includes many disparate technologies used to mimic, recreate, enhance, or digitalize the five human senses of sight, hearing, smell, taste, and touch. Some artificial sensing technologies, such as hearing aids, have evolved over a long period of time and several generations of technology innovation and invention. Other artificial sensing industries, such as chemical and explosive sniffers, have gained immediate prominence in recent years due to dramatically increased global and travel-related security concerns because of a significant increase in terrorist activities around the world.
While artificial senses are generally considered separately, it is a primary purpose of this report to consider all different measured artificial senses collectively and in comparison to one another with regard to market size, technology and innovation, and industry sectors served. Additionally, more holistic computer-based applications, such as ongoing research and development in artificial intelligence, create and combine technologies from a variety of artificial sensing technologies for the purpose of creating so-called “sensing technology” designed to mimic human or animal sensing behavior for the purposes of gathering information, enhancing security, automating some previously manual jobs or functions, or providing interactive and seemingly “intelligent” or logical entertainment.
INTENDED AUDIENCE
BCC has compiled a study of artificial sensing definitions, applications, market segmentation and growth drivers and technology innovations. Artificial sensing is by and large a research driven technology group, with far-reaching and well funded research initiatives that span several years, sometimes giving rise to sudden or planned market applications that can serve to propel a particular market segment forward suddenly and provide an immediate capital return to an area previously devoted to non-commercial research efforts.
This study will be of particular interest to professionals in artificial sensing related enterprises, either from the perspective of understanding how their commercial efforts fit into the larger pool of artificial sensing market categories, or in assisting the process of concept commercialization by providing an understanding of the broader market forces and opportunities presented by some of the market growth trends and technology innovations.
Additionally, this report will assist venture capitalist companies considering artificial sensing technologies by providing examples of technologies that have moved from innovation to commercialization as well as illustrating some of the market category spanning applications that may provide growth opportunity for niche companies with relevant technology innovations.
SCOPE OF REPORT
The scope of this study encompasses the different categories of artificial sensing technologies, brief histories of each sensing category, research and medical efforts, trials and commercial ventures within each category. Several cross-category applications are considered including multisensor data fusion, pattern recognition and some artificial intelligence (AI) research initiatives and AI-enhanced applications. In order to properly consider artificial sensing applications, descriptions and definitions of neural networks and other robust computing methodologies including biological computing and data mining are provided. Although the artificial sensing markets do not directly overlap neural networks and other such computing techniques, it is important to understand that many types of artificial sensing technologies rely on modern rapid and robust computing technologies as the platform on which they can provide optimal performance.
This study considers categories and markets for artificial sensing technologies, applications of artificial sensing including medical and research applications, security applications, and AI or logic-enhanced systems using artificial sensing technologies. Additionally, BCC considers intellectual property related to the various artificial sensing categories, including technology development over time, and pending technology innovations and inventions that may not yet have been fully commercialized.
BCC analyzes the industry on a worldwide basis, both from a market and application perspective and a technology perspective. Although artificial sensing does not comprise a regulated or standardized industry, medically specific artificial sensing applications come under scrutiny by the U.S. FDA and other health standards organizations around the world.
METHODOLOGY
BCC presents an analysis across the entire artificial sensing industry based on reported revenue dollars and units shipped as reported to the SEC and/or other governmental agencies. Data gathered from various research sources via the Internet including large databases such as the United States Patent and Trademark Office (USPTO) databases of U.S. Patents and Patent Applications, Micropatent’s searchable databases for U.S. and international patents and other IP issues, and the searchable database available on the Internet from the European Patent Office for World and U.S. patents and patent applications are also analyzed. For artificial sensing technologies there are also a number of publicly available research findings related to various artificial sensing technologies, and while these cannot be measured for pure market value, they can give perspective to technology development life cycles for artificial sensing and other issues related to successful and unsuccessful commercial ventures springing out of research initiatives.
INFORMATION SOURCES
BCC analyzed public documents, SEC filings, corporate white papers, and other technical documentation for several dozen U.S. and international companies directly involved in manufacturing, distributing, or directly utilizing artificial sensing technology or applications.
Additionally, BCC analyzed greater than 1,500 utility patents filed in the U.S. and throughout the world on air pollution detection, prevention, and control industry related technology inventions.
ABOUT THE AUTHOR
Jordan Sheridan is a technology analyst and writer with more than 20 years of experience who specializes in technology and intellectual property strategies and develops IP documentation and analysis studies for Fortune 100 companies, with particular emphasis on IT technology and algorithmically-based inventions. Sheridan’s publications for BCC Research include RFID: Technology, Applications, and Market Potential (IAS020A); The Global Market for Energy Management Information Systems (EGY052A); and Technologies for Air Pollution Monitoring, Prevention, & Control (IAS001G).
