Sensors are all around us – in the sky, the wind, and water. The following is a summary of sensors market reports published in April, including water meters, satellite technology, and pneumatic equipment. Discover emergent trends in sensor technology markets, and see the subsegments expect to achieve the highest growth from the forecast period 2017-2022.
Water Meters, Water Quality Sensors and Water Leak Detection: Global Markets
The global market for water quality sensors - devices used for measuring liquid contamination - is predicted to reach $4.6 billion by 2022 with a compound annual growth rate (CAGR) of 6.6%. The most significant section within this industry is from the ground and surface water, which will be worth $1.3 billion by the end of the five-year-period.
Growth can be accredited to several factors including a growing population, rapid urbanization, and groundwater pollution. The food and beverage, pharmaceutical, chemical, energy, electronics, semiconductor, and wastewater treatment industries are also playing a large role in quickening 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.
Aneesh Kumar, Report Author
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, followed by drinking water with 23.9% and wastewater with 19.6%. Looking to the future, government regulations on water quality before delivery to distribution systems will ensure the calculated growth of the corresponding sensors.
Satellite Communications: Global Market Through 2022
Satellite communications include devices that provide the ability to send signals to faraway locations. The global market is expected to reach a value of $7.5 billion by 2022, causing a CAGR of 10.5%. The largest sector within this industry is satellite telemetry, which will be worth $3.0 billion by the end of the end of the five-year period.
Global Market for Satellite Communications, by Technology, Through 2022
|Automatic identification system (AIS)
|Very small aperture terminal (VSAT)
Source: BCC Research
Growth is credited to several factors, including being a source of communication in remote areas that have an absence of wired/traditional networks, along with providing real-time information and data, accurate global positioning services, and tracking and monitoring of fixed and movable assets. Also playing a role in accelerating the market are the automotive, maritime, oil and gas, energy, mining, military, transportation, healthcare, security and surveillance, agriculture, and retail industries.
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.
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.
Sinha G. Gaurav, Report Author
Overall, North America is predicted to continue leading 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 forward, attention should focus on emerging nations that are involved in heavy commercialization of satellite communication networks.
Pneumatic Equipment: Technologies and Global Markets
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 area in this industry are pneumatic actuators with secondary air treatment, which will be worth $51.1 billion by the end of the five-year period.
Growth is credited to numerous factories implementing pneumatic equipment, as it is easy to use, safe and quiet; altogether creating a better work environment and saving energy. The construction, mining, transportation, diving and dentistry industries are also playing a role in pushing the market to new levels.
Pneumatic equipment can be used in volatile environments where hydraulic and electric tools cannot be used.
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.
Srinivasa Rajaram, Report Author
Overall, a major advantage that will carry the pneumatic equipment market into the future is energy savings, as it has been estimated that these systems can save 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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This information has been sourced, reviewed and adapted from materials provided by Sensors Expo & Conference.
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