Solid growth predicted for US sensor products
A
The Freedonia Group product story
Edited by the Engineeringtalk editorial team
Oct 22, 2004
Fuelled by new applications - particularly in the large motor vehicle market - US demand for sensor products is projected to increase 7.8% annually to $13.8 billion in 2008.
Fuelled by new applications - particularly in the large motor vehicle market - US demand for sensor products (sensors, transducers and associated housings) is projected to increase 7.8% annually to $13.8 billion in 2008.
The fastest growth will occur in sensors based on more advanced, sophisticated technologies and those sensors likely to be used in dynamic applications such as automotive safety and security systems, consumer electronics and information technology.
These and other trends are presented in "Sensors", a new study from The Freedonia Group.
The market for process variables sensors in the US is forecast to increase 5.9% per year to nearly $3.6 billion in 2008.
Although this is well below the forecast average pace for sensor demand as a whole, these gains represent a significant improvement from the modest increases during the 1998 to 2003 period and the declines experienced by many process variable sensors during the early 2000s recession.
Process variables sensors represent one of the more mature, cyclical segments of the sensor industry, and as such will benefit directly from ongoing recovery and expansion within the US industrial sector.
Products such as advanced proximity and positioning sensors and complementary metal-oxide silicon (CMOS) imaging sensors hold especially good prospects through the end of the decade.
Demand for certain types of physical properties sensors, particularly those using advanced technologies is also expected to advance at well above the pace of the overall market.
Furthermore, the economic recovery will support gains in many of the more mature applications such as process control, industrial machinery and conventional automotive sensors.
Sensors used for occupant position detection in smart airbag systems and for object and headway detection are expected to fare particularly well.
Also holding good prospects are imaging sensors, used in such products as mobile telephones, digital cameras, camcorders, video games, computer monitors and the like.
"Sensors" is available for $3900 from The Freedonia Group.
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