Report Explores World Sensor Technology Markets

The highly diverse world sensors industry includes both traditional technology markets and emerging products, with applications spanning the industrial, automotive, and medical markets. While the market boasts several exciting new technologies like microelectromechanical (MEMS) sensors and biosensors, total growth rates are held down by traditional sensing technologies.

According to new strategic research conducted by Frost & Sullivan, World Sensor Markets: Strategic Analysis, total revenues reach $15 billion annually. Huge revenue potential exists in motion detectors, biosensors, accelerometers, and image sensors.

Several end-user industries including petrochemical, energy, automotive and medical, utilize sensing technologies for measurement, control and diagnostics. Sean Bridge, Frost & Sullivan sensors industry research manager, says the growing end-user segments appear to be smaller industries such as pharmaceutical, semiconductor, and food and beverage. The adoption of digital technology, the lessening of price sensitivity, and the growing preference for noncontact, remote and solid-state sensing technologies are other important end-user trends, says Bridge.

The sensors industry contains only a handful of large, well-established suppliers, globally. Average suppliers are small national or regional suppliers that focus on the production of one specific type of sensor product. Industry consolidation is expected to continue through mergers and acquisitions after the turn of the century. Niche suppliers will need to form alliances to survive, while larger companies will expand their product lines and hold the marketing advantage with extensive sales networks.

For more information, or to obtain a copy of the report, contact Frost & Sullivan at (650) 961-9000.