According to a new technical market research report, SENSORS: TECHNOLOGIES AND GLOBAL MARKETS (IAS006D) from BCC Research, the value of the sensors industry is estimated at $62.8 billion in 2011, but is expected to increase to nearly $91.5 billion in 2016, for a five-year compound annual growth rate (CAGR) of 7.8%.
- The largest segment of the market, made up of image, flow and level sensors, is projected to increase at a CAGR of 8.5% to $27.2 billion in 2016, after being valued at $18.1 billion in 2011.
- The second-largest segment, made up of pressure and temperature sensors, is estimated at nearly $14.5 billion in 2011, but is expected to increase at a CAGR of 6.7% to reach nearly $20 billion in 2016.
- The segment made up of biosensor and chemical sensors is expected to reach $21 billion in 2016, after rising at a CAGR of 9.6% from its estimated value of $13.3 billion in 2011.
- The segment made up of position and load/torque sensors is expected to be valued at $14.7 billion in 2016, after rising at a CAGR of 6.5% from its estimated value in 2011 of $10.7 billion.
- The smallest segment of the market, made up of miscellaneous sensors, is expected to increase at a CAGR of 6.7% from its estimated 2011 value of $6.1 billion to $8.5 billion in 2016.
Sensors are indispensable to many key industries, since they provide vital information about a wealth of parameters (e.g., temperature, position, chemical, pressure, force and load, flow, and level) that can profoundly affect a diverse range of products, processes, and systems.
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 will be relevant to marketing managers, research and development professionals, advertising agencies working with clients in the sensors industry, business development executives, and information and research center librarians who provide market researchers and brand and product managers with the information needed to do their jobs more effectively.