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Global Markets and Technologies for Sensors Expected to Increase to $79.5 Billion in 2014

Global Markets and Technologies for Sensors Expected to Increase to $79.5 Billion in 2014

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Published by BCC Research
Small firms account for the majority of companies within the sensor manufacturing business. Most pursue a focused strategy, but competitive and technological pressures are leading to consolidation and increasing concentration. The semiconductor industry, however, is attempting to recapture its intensive capital investment by developing sensor solutions to address large-scale, high-volume, consumer-related applications. This will allow specialized industrial sensor manufacturers some time to develop strategies for dealing with competition.
Small firms account for the majority of companies within the sensor manufacturing business. Most pursue a focused strategy, but competitive and technological pressures are leading to consolidation and increasing concentration. The semiconductor industry, however, is attempting to recapture its intensive capital investment by developing sensor solutions to address large-scale, high-volume, consumer-related applications. This will allow specialized industrial sensor manufacturers some time to develop strategies for dealing with competition.

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Published by: BCC Research on May 28, 2013
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Global Markets and Technologies for Sensors expected to increase to $79.5 billion in2014
WELLESLEY, Mass. – Small firms account for the majority of companies within the sensor manufacturing business. Most pursue a focused strategy, but competitive and technological pressures are leading to consolidation and increasing concentration. The semiconductor industry, however, is attempting to recapture its intensive capital investment by developingsensor solutions to address large-scale, high-volume, consumer-related applications. This willallow specialized industrial sensor manufacturers some time to develop strategies for dealingwith competition. There are also opportunities for new entrants into the business, especiallyin MEMS. Further, a company with valuable intellectual property and a strong customer basecan represent an attractive acquisition candidate.After the downturn in 2009, the global market for sensors recovered from 2010 to 2012. Themarket was valued at nearly $68.2 billion in 2012 and is expected to increase to $79.5 billionin 2014, reaching $116.1 billion by 2019, at a compound annual growth rate (CAGR) of 7.9%.Growth within the segment made up of biosensors and chemical sensors is expected to be thehighest, with a CAGR of 9.7% projected from 2014 through 2019, followed by the image,flow and level sensors segment, with a CAGR of 8.4% forecast over the same five-year  period.Market demand for sensors will be fueled by increases in motor vehicle and machinery production, growth in shipment of process equipment, government regulations such asrequiring all new light vehicles to be equipped with electronic stability control and tire pressure monitoring systems, and growth in process manufacturers’ shipments. Developmentof new applications for technologies such as microelectromechanical systems (MEMS),optoelectronics, and photoelectronics will help grow the sensor market. The maturity of manysensor markets and improved fabrication techniques has led to increased sensing abilities atlower costs and this also will help increase market growth.As sensors form the core of most electronic, industrial, and consumer products, the volatilityof the end-use industries has a direct bearing on the market for sensors. The sharp downturnin the global economy during the global economic crisis of 2009 and resultant pricing pressures significantly affected the overall business environment. The volatility of the end-user industry and tight credit conditions stalled the growth of the global sensor market. In2011 and 2012, most industries began recovering, thus also improving the prospects of thesensor industry. Technological refinements in terms of improved efficiency and performancewill reemerge to drive growth in the marketplace.The proliferation of advanced electronic control systems has provided sensor users ongoingadvances in sensor accuracy, reliability, response time, robustness, miniaturization,communications capability, and efficiencies. This has fueled research and development in thesensor industry, which in turn creates opportunities for technological advancements that openup new applications for sensors.Market factors that influence sensor technology and product-related developments includecost, competitive differentiation, resistance to change, standards evolution, and governmentregulations. Over the past few years, a number of developments both in the academic and

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