High Growth Forecasted for U.S. Sensor MarketAugust 6, 2008
Demand is projected to advance 4.3% per annum through 2012 to $12.7 billion. Sales of sensors based on emerging technologies, such as MEMS and imaging, will see the fastest gains.
LONDON, UNITED KINGDOM /Marketwire/ -- Reportlinker.com announces that a new market research report related to the industrial equipment industry titled "US Sensors Market" is available in its catalogue.
U.S. demand for sensors is projected to advance 4.3% per annum through 2012 to $12.7 billion. Overall growth will be supported by technological advances that allow for price reduction and greater precision, which expand the use of sensors into new markets, as well as new applications within existing markets. Demand for sensors based on emerging technologies, such as MEMS and imaging, will see the fastest gains. Process variable sensors (e.g., pressure, temperature, flow, and level) will continue to be the largest type of sensor, although they are expected to grow at below-average rates because they represent some of the more mature products in the sensor industry. The automotive industry will remain the largest market, but growth will also be strong in military and aerospace applications.
Through 2012, imaging and proximity/position sensors are expected to record the fastest growth. Imaging sensors—including charge-coupled devices (CCD), complementary metal-oxide semiconductors (CMOS), and thermal (infrared) sensors—will register the fastest gains of all sensor types. CMOS imaging sensors will continue to take significant market share from CCDs, because they benefit from their lower costs, lower power requirements, and higher speeds. Thermal imaging sensors will receive a significant boost from rising military expenditures, as well as increased importance in new markets, such as police departments, fire departments, structural testing companies, original equipment manufacturers, and private consumers.
Proximity and positioning sensors will also post rapid gains, fueled by increased motor vehicle production and continued expansion of the industrial sector, both of which are large consumers of proximity and positioning sensors. In particular, a rebound in vehicle production will support gains not only in newer sensor-using applications, such as collision avoidance systems, but also for more mature motor vehicle products, such as camshaft and crankshaft positioning sensors.
The motor vehicle market will be among the fastest growing and will continue to represent the largest market for sensors. More specifically, demand for sensors in automotive safety and security systems will exhibit strong gains, boosted by mandated changes (e.g., electronic stability control systems and tire pressure monitoring requirements) and consumer preferences for newer safety and security features that are being introduced. In addition, automakers will be under increasing pressure to add value to their vehicles so as to differentiate them from their competition.
The large industrial sensor market will post below-average growth due to the high degree of maturity and downward pricing pressure that further limit value gains, especially in process control sensor markets. However, increased aerospace equipment shipments and higher defense expenditures will continue to drive strong growth for sensors in the military/aerospace markets.
Sensors, a new Freedonia industry study, is priced at $4600. It presents historical demand data for 1997, 2002, and 2007, as well as forecasts for 2012 and 2017 by type (process variable, physical property, proximity and positioning, chemical property, electrical property, imaging) and market application (motor vehicles, industrial, military/aerospace, electronic security, medical, consumer electronics, information technology). The study also considers market environment factors, reviews key technological developments, evaluates company market share data, and profiles 37 U.S. industry competitors.
To order "US Sensors Market" visit the company's Web site.
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