Posted in | News | Sensors General

Revenues in Indian Sensors Market Forecast to Grow at 14% CAGR till 2018

Jul 15 2013

Research and Markets has announced the addition of the "India Sensor Market Forecast and Opportunities, 2018" report to their offering.

The sensors market revenues in India are expected to grow at the CAGR of 14% till 2018. Sensors are critical components that are deployed in numerous products for different applications across varied industries such as automotive, consumer electronics, medical, industrial etc. The demand to automate every product which can sense, feel and act is continuously encouraging innovation in different types of sensors. The vendors are also diverting their core focus from mature markets of North America and Europe towards emerging economies such as China, Thailand, Indonesia and India. These emerging economies hold significant growth potential for sensor applications.

According to India Sensors Market Forecast & Opportunities, 2018, the Indian sensors market is growing rapidly with the fastest growing segments being gas sensors, image sensors, accelerometers and position sensors. The continuous technological innovation and increasing application areas for these sensors are pushing their demand in the market. In India, automotive and consumer electronics industry are contributing substantially to the demand for sensors. In addition, the growth of industrial sector driven by increasing number of process industries and introduction of MEMS (Micro Electro Mechanical Systems) sensors would add to the momentous growth of sensors market in India.