Report Gives Five-Year Forecast for Sensors
The industrial sensors industry is alive and well, despite poor economic conditions, according to a soon-to-be-released report from Business Communications Company, Inc. The optimism stems from evidence that sensors are indispensable to several industries because of their ability to provide crucial information.
The report, RGB-200N Industrial Sensor Technologies and Markets , suggests that the U.S. industrial sensors market will reach $7.63 billion in 2009, growing at an annual average growth rate (AAGR) of 4.7% over the next five years. The industrial sensors total market AAGR is estimated at 6.2% from 2004 to 2006 and 4% from 2006 to 2009. This forecast is attributed to demand and competition for improved performance in the process industries.
Strongest growth is attributed to advancements in the semiconductor industry and successful integration of micro-electromechanical systems (MEMS) as sensing elements. Sensors employing semiconductor technology are expected to reach $2.5 billion by 2009. Non-semiconductor sensors, on the other hand, are not predicted to experience the same strong growth, as these technologies-passive, active and electromechanical-are more mature. However, chemical sensors will get a boost in response to an increased alertness to possible terrorist threats to key industrial facilities.
For more information or to purchase the report visit BCC .