- The global market for sensors should increase from $173.4 billion in 2019 to $323.3 billion by 2024 with a compound annual growth rate (CAGR) of 13.3% during the forecast period, 2019-2024.
- The global market for machine vision system components should increase from $19.6 billion in 2019 to $31.1 billion by 2024 with a CAGR of 9.7% during the forecast period, 2019-2024.
- The global market for quantum sensors should increase from $161.0 million in 2019 to $299.9 million by 2024 with a CAGR of 13.2% during the forecast period, 2019-2024.
Artificial intelligence, connected cars, Internet of things, cognitive computing, connected living, smart devices and smart appliances are the current technological trends in recent times. These technologies have one thing in common, they are dependent on instruments and sensors. The fusion of different instrumentation and sensor devices is necessary to attain desired outcomes, making this industry a major area for future development of various aspects of daily life.
The use of sensors has expanded beyond the traditional fields of temperature, pressure and flow measurement. The technological advances and the use of micromachining and microelectromechanical systems (MEMS) technologies in microsensors are allowing manufacturers to use more sensors and in turn increasing number of sensors on a microscopic scale.
The use of sensors is proving to be a revolution, as they are used in for, diagnostics in medical industry for various application and devices, space exploration and research, improved performance of solar power, fuel cell and batteries, improved safety and security; intelligent and self-learning systems, driverless cars and many more. The sensors industry is progressing rapidly and with technological advancements it has become an integral part of everyday life for us.
Research Reviews from BCC Research provide market professionals with concise market coverage within a specific research category. These Research Reviews include portions of several market research reports that were published in 2019 and are an efficient way for market professionals to keep up with the general market developments of 2019.
This 2019 Instrumentation and Sensors Research Review includes excerpts from the following reports:
- IAS006K Sensors: Technologies and Global Markets.
- IAS010H Machine Vision - 2D and 3D MV Systems: Technologies and Markets.
- IAS029F Terahertz Radiation Systems: Technologies and Global Markets.
- IAS026F Pharmacy Automation: Technologies and Global Markets.
- IAS091A Quantum Sensors: Quantum Entanglement for Communications and Beyond.
- IAS146A Sensible Sensors in Everyday Life.
We hope you find this Research Review valuable, and we look forward to serving our customers instrumentation and sensors market research needs.
BCC Publishing Staff
BCC publishing staff comprises expert analysts who are skilled in conducting primary research, secondary research and data analysis and have decades of combined experience covering a wide range of industries, including healthcare, advanced materials and emerging technologies. Collectively, the team represents a diverse set of educational achievements with individual graduate work completed in fields such as electronics and semi-conductors, automotive, industrial automation, ICT, petroleum, electrical engineering, business administration, among others.
- The global market for UV disinfection equipment should grow from $2.1 billion in 2018 to $4.4 billion by 2023 at a compound annual growth rate (CAGR) of 16.2% from 2018 to 2023.
- The global market for portable gas detectors should grow from $1.3 billion in 2018 to $1.6 billion by 2023 at a CAGR of 4.3% from 2018 to 2023.
- The global market for remote sensing should grow from $11.3 billion in 2018 to $18.9 billion by 2023 at a CAGR of 10.7% from 2018 to 2023.
- The global market for sensors reached $68.2 billion in 2012 and is expected to reach $79.5 billion in 2014. The market is expected to rise at a CAGR of 7.9% and reach $116.1 billion by 2019.
- The global market for microscopes and accessories was worth $3.8 billion in 2012. Sales are projected to exceed $4.0 billion in 2013 and approach nearly $5.4 billion by 2018, a compound annual growth rate (CAGR) of 6% between 2013 and 2018.
- The global market for remote sensing products is expected to reach $7.6 billion by the end of 2013. This market is further expected to grow to $8.1 billion in 2014 and $12.1 billion in 2019, a compound annual growth rate (CAGR) of 8.2% over the five-year period from 2014 to 2019.
- Analyses of each bulk acoustic wave technology type, its current market status, examines its impact on future markets and technologies play in wireless communication and industrial, military and safety monitoring as well as instrumentation.
- Information about technological processes that have been made toward bridging the terahertz gap and assessing the commercial potential of THz radiation devices over the next five to 10 years.
- Information about pharmacy automation markets by inpatient and outpatient pharmacy settings, and by product type. Each segment is further extrapolated to provide detailed information of current and emerging products, current market estimates and market forecasts, and competitive analyses.
- The global market for process analytical technology (PAT) instrumentation was valued at nearly $195 million in 2010. This market is expected to increase by a 7.4% compound annual growth rate (CAGR) to reach an estimated $279 million in 2015.
- The global environmental sensor and monitoring market was worth $11.1 billion in 2010. This market is expected to reach $11.3 billion in 2011 and $15.3 billion in 2016, a CAGR of 6.5% between 2011 and 2016.
- The global market for microscopes and accessories was worth $3.1 billion in 2010. Sales are projected to exceed $3.2 billion in 2011 and $4.1 billion in 2016, a compound annual growth rate of 5% for 2011 to 2016.
BCC Research estimates the global market for gas flow meters, sensors, monitors, and secondary flow instrumentation at about $3.6 billion in 2009 and $3.9 billion in 2010. Growing at a projected compound annual growth rate (CAGR) of 5.9%, the market should approach $5.2 billion by 2015.
BCC estimates the total global market for RFID technologies at about $5.9 billion in 2009 and $6.4 billion in 2010. By 2015, BCC expects the market to grow to $11.3 billion, with a compound annual growth rate (CAGR) of 12.1% over the next 5 years.
BCC estimates the global market for electronic, electro-optical, and other modern technologies used in airports to have been nearly $8.2 billion in 2009. BCC estimates the market at $10.3 billion in 2010 and expects it to exceed $13.7 billion in 2015, a compound annual growth rate (CAGR) of 5.9% over the next 5 years.