Important trends in the industrial development of multi-axis sensors

2020-11-06

In recent years, driven by continuous technological advancements, cost reductions, and improvements in performance and reliability, the typical application markets for sensors have developed rapidly, fueled by the rapid growth of the Internet of Things, mobile internet, and high-end equipment manufacturing. According to BCC Research, the global sensor market size is estimated to have reached US$79.5 billion in 2014 and is expected to reach US$116.1 billion in 2019, with a compound annual growth rate of 7.9%.

The Asia-Pacific region will become the most promising market. Currently, the United States, Japan, and European countries possess advanced sensor technologies and mature upstream and downstream industrial supporting systems, making them the primary producers of high-end sensor products and major application markets. Simultaneously, the Asia-Pacific region is emerging as the most promising future market. Intellitop Consulting points out that the Asia-Pacific market share will continue to grow in the coming years, reaching an estimated 38.1% in 2016, while the market share of North America and Western Europe will slightly decline.

Transportation and information and communications are the fastest-growing market segments. According to Intellitop Consulting, the global automotive sensor market is expected to reach €41.97 billion in 2016, accounting for 22.8% of the global market; the information and communications industry is also expected to reach €42.16 billion by 2016, accounting for 22.9% of the global market, and it could become the largest single application market. Innovative applications in healthcare, environmental monitoring, oil and gas pipelines, and smart grids will become new hotspots, expected to create more market demand in the future.

Mergers and acquisitions among companies are becoming increasingly active. Large sensor companies in the United States, Germany, and Japan have strong technological research and development foundations, and each company has established its own technological advantages, and the overall market competition pattern has been initially established (see Appendix). It should be noted that large companies, through mergers and acquisitions, control technological standards and patents, gradually establishing a monopoly position in the "high, precise, and sophisticated" sensor and new sensor markets. Under the competitive pressure from large companies, small and medium-sized enterprises are developing in the direction of "small (medium) and refined, small and specialized," developing proprietary technologies and positioning their products in specific niche markets. According to statistics, from July 2010 to September 2011, there were more than 20 large-scale mergers and acquisitions in the sensor industry. For example, the US private equity firm Veritas Capital III acquired PerkinElmer's Illumination and Detection Solutions (IDS) business for US$500 million in cash; UK's Spectris plc acquired the temperature and measurement equipment manufacturing business of US Omega Engineering for US$475 million. Currently, more and more mergers and acquisitions are occurring in emerging market countries.

CCID Consulting | 2019 Sensor Market Data (Forward)

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