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Global Market for Sensors to Grow 7.8% Annually


May 6, 2011 - Rockville, MD

MarketResearch.com has announced the addition of BCC Research's new report "Sensors: Technologies and Global Markets," to their collection of Electronics market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=6277183

Sensors are an important part of any measurement and automation application. The sensor is responsible for converting physical phenomenon into a quantity measurable by a data-acquisition system.

The proliferation of advanced electronic control systems has provided sensor users ongoing advances in sensor accuracy, reliability, response time, robustness, miniaturization, communications capability, and efficiencies. This has fueled research and development in the sensors industry, which in turn creates opportunities for technology advancements that open up new applications for sensors.

Application support holds the key to the development of new technologies. What drives the adoption of the core technology in the industrial sector is the availability of a solution that can provide seamless integration into existing automation systems.

A need exists for technology and product development to be focused on industrial applications through appropriate additional integration and value-added tests. This must, in turn, be supported by a long-term strategy and road map for the industrial market.

The global market for sensors was estimated at $56.3 billion in 2010. It is expected to increase to $62.8 billion in 2011 and then to nearly $91.5 billion by 2016, at a compound annual growth rate (CAGR) of 7.8%.

The market for biosensors and chemical sensors is expected to experience the highest growth, at a compound annual growth rate (CAGR) of 9.6% during the 5-year period from 2011 to 2016. This sector is expected to be worth $13 billion in 2011 and $21 billion in 2016.

Image sensors will experience high growth because of their increased use in smart phones and many other portable devices. The image, flow, and level sensors category is estimated at $18 billion in 2011 and is expected to increase at an 8.5% compound annual growth rate (CAGR) to reach $27 billion in 2016.

For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=6277183

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MarketResearch.com is the leading provider of global market intelligence products and services. With over 300,000 research reports from more than 700 top consulting and advisory firms, MarketResearch.com offers instant online access to the world's most extensive database of expert insights on global industries, companies, products, and trends. For more information, call Veronica Franco at 240-747-3016 or visit www.MarketResearch.com.

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