Sky, wind and water – sensors are everywhere! Here’s a quick rundown of the sensors market reports BCC Research published in April, including water meters, satellite technology and pneumatic equipment. Uncover emerging trends in sensor technology markets, and discover the subsegments expected to achieve the highest growth from the forecast period 2017-2022.
The global market for water quality sensors, devices used for quantifying liquid contamination, is expected to reach a value of $4.6 billion by 2022 with a compound annual growth rate (CAGR) of 6.6%. The largest segment within this industry comes from ground and surface water, which will be worth $1.3 billion by the end of the five-year-period.
Growth is attributed to several factors including an increasing population, rapid urbanization and groundwater pollution. Meanwhile, the food and beverage, pharmaceutical, chemical, energy, electronics, semiconductor and wastewater treatment industries are also playing a large role in accelerating the market to new heights.
“In the aquaculture industry, water quality sensors are used to sense the types of chemicals present in the river and seawater that contribute to water pollution,” said the report author, Aneesh Kumar. Other applications, according to Kumar, are in the residential sector where water quality sensors are used for managing drinking water, and in agriculture, water quality sensors are used for maintaining hydroponics.
Overall, surface water applications accounted for 27.7% of the market during 2017. This share was followed by drinking water with 23.9% and wastewater with 19.6%. Looking toward the future of this industry, government regulations on water quality before delivery to distribution systems will ensure the forecasted growth of the corresponding sensors.
The global market for satellite communications, devices that provide the ability to send signals to faraway locations, is expected to reach a value of $7.5 billion by 2022, causing a compound annual growth rate (CAGR) of 10.5%. The largest segment within this industry comes from satellite telemetry, which will be worth $3.0 billion by the end of the end of the five-year period.
Growth is attributed to several factors, including being a source of communication in remote areas that have an absence of wired or traditional networks, along with providing real-time information and data, accurate global positioning services, and tracking and monitoring of fixed and movable assets. Meanwhile, the automotive, maritime, oil and gas, energy, mining, military, transportation, healthcare, security and surveillance, agriculture, and retail industries are also playing a large role in accelerating the market to new heights.
“The growth of the satellite communication technology market is limited by factors such as the high cost of manufacturing, delay in signals and the need for replacement,” said report author, Sinha G. Gaurav. “The cost of satellite communication technology includes the cost of satellite manufacturing, the launch of satellites through a space shuttle and investments in a ground segment or base stations to manage and control a satellite.”
Overall, North America is forecasted to continue dominating the satellite communications technology market with a value of $2.7 billion by 2022. However, the Asia-Pacific region has a great deal of potential, having a CAGR of 11.3% between 2017 and 2022. Looking toward the future of this industry, attention should be focused on emerging nations that are involved in heavy commercialization of satellite communication networks.
The global market for pneumatic equipment, mainly composed of actuators and compressors, is expected to reach values of $51.1 billion (6.7% CAGR) and $42.1 billion (6.5% CAGR) by 2022, respectively for each device. The largest segment within this industry comes from pneumatic actuators with secondary air treatment, which will be worth $51.1 billion by the end of the five-year period.
Growth is attributed to numerous factories adopting pneumatic equipment, as it is easy to use, safe and quiet; altogether creating a better work environment and saving energy. Meanwhile, the construction, mining, transportation, diving and dentistry industries are also playing a large role in accelerating the market to new heights.
“Pneumatic equipment can be used in volatile environments where hydraulic and electric tools cannot be used,” said the report author, Srinivasa Rajaram. “Thus, pneumatic equipment is safer and is increasingly being adopted by end users for more and more industrial applications, thus making industrial pneumatic applications among the most widely used power technologies in modern industry.” Overall, a major benefit that will carry the pneumatic equipment market into the future is energy savings, as it has been estimated that these systems can conserve between 1.5% and 2.0% of compressed air.
Looking for more details on these sensors markets? Visit BCC Research’s website to download the free report overview, or visit the Sensors: Technologies and Applications page for a complete list of recently published reports.
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