Jun 3 2010
Strategic analysis of the European sensors market by Frost & Sullivan has shown that the market is estimated to earn revenue of $19 billion in 2016, while the earned revenue during 2009 was $12.5 billion. Sensors covered under this report include MEMS gyroscope, MEMS microphone, level, pressure, flow, temperature, MEMS accelerometer, level, temperature, flow, pressure, MEMS pressure, along with emerging and new sensors.
This analysis, a part of the ‘Sensors & Instrumentation Growth Partnership Services’ program, also incorporates global sensors market research. All research services included in subscriptions offer in-depth market trends and opportunities, which were analyzed after interviewing participants.
Sensor manufacturers look forward to tackling the post economic depression environment by exploring new growth applications and markets, more so for the mature market segments. Favorable mandates and markets are likely give a boost to the market segment related to micro-electric mechanical systems (MEMS).
The manufacturers will be able to leverage this benefit by making consumers aware of emerging and new technologies like smart and wireless sensors. It is necessary to educate end users of the strategic advances of sensor technology and its function, to reduce carbon emissions or realize a green environment.
However, end users are deterred by the cost of the state-of-the-art technologies, which nearly doubles that of conventional technologies. According to V Sankaranarayanan, Industry Analyst at Frost & Sullivan Industry, value added features and innovation are key elements for overcoming price pressure. He revealed that the key focus of sensor makers appears to be utilizing rechargeable batteries or battery elimination.
He added that battery less sensor products or sensors that are able to function on harvested energy or rechargeable batteries are likely to be widely adopted. According to him, all sensor segment manufacturers face a challenge to cater for the various end users’ diverse expectations and differentiate themselves accordingly from the competition. This will result in the delivery of unique products not provided by other vendors to the customers from the manufacturers.
Under the prevailing economic situation, the rising energy costs are making a strong case for sensors that support energy savings. Wireless sensors enable savings on maintenance and operational expenses, which help save on operation and maintenance are likely to experience a large demand.
Considering the increasing environmental consciousness, climate change and growing awareness, sensors capable of empowering users to achieve increased energy efficiency are expected to become more and more popular.