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Global Industrial Sensor Market Forecast to Grow at 10.33% CAGR

Dec 9 2014

Research and Markets has announced the addition of the "Global Industrial Sensor Market 2014-2018" report to their offering.

Industrial sensors are generally transducers which convert physical quantity to electrical signals. These signals are processed via electronic automation systems and depict the physical variation or error signal of the device or instrument being sensed. The industrial sensors are of many types and are generally classified as proximity sensors, position or velocity sensors, temperature sensors, pressure sensors and vibration or acceleration sensors.

The proximity sensors can be of mechanical, optical, inductive or capacitive in nature. The examples of position or velocity sensors can be potentiometers, encoders, tachogenerator and linear variable differential transformer (LVDT) etc. These industrial sensors have a high degree of accuracy, reliability, range and sensitivity and provide better control and automation of industrial processing units.

The analysts forecast the Global Industrial Sensor market will grow at a CAGR of 10.33 percent over the period 2013-2018.

The Global Industrial Sensor market can be segmented into four divisions: Automotive, Aircraft and Ship Industry, Information Technology and Communication Industry, and Machinery Industry and Process Industry. These are the major sets of end-users for the industrial sensors.

The report, the Global Industrial Sensor Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Radar Level Transmitter market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

In recent years, many countries have introduced initiatives to increase safety and minimize environmental hazards. For example, the focus on passenger safety has led to the increased demand for and application of sensors in the Automotive industry, which drives the demand for sensors used in vehicles. In 2008, the European car safety performance assessment program Euro NCAP made it necessary for manufacturers to use electronic stability control in cars to obtain a five-star rating.

Further, the EU has decided to make the use of electronic stability control systems mandatory in vehicles. According Regulation No 661 introduced by the European Parliament and Council in 2009, all new vehicles had to be equipped with electronic stability control from November 2011 onwards. These initiatives have accelerated the demand for safety system electronic control units.

According to the report, one of the main drivers in this market is the increased demand for automotive safety systems. The demand for sensors in vehicles is increasing because of their advanced safety functions. Sensors are used in the powertrain, chassis, and body of the vehicle.

Further, the report states that one of the main challenges in this market is the need to reduce the time to market. There is continuous demand for new and advanced industrial sensors. To capture market share, vendors have to develop their products within a given time frame and market them ahead of their competitors.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Key Topics Covered:

01. Executive Summary

02. List of Abbreviations

03. Scope of the Report

04. Market Research Methodology

05. Introduction

06. Market Landscape

07. Market Segmentation by End-user

08. Geographical Segmentation

09. Buying Criteria

10. Market Growth Drivers

11. Drivers and their Impact