Gurgaon Samachar

Distance Measurement Sensor Devices to Grow to $2 Billion Market by 2020

 Breaking News
  • No posts where found

Distance Measurement Sensor Devices to Grow to $2 Billion Market by 2020

October 07
17:54 2014

Global distance measurement sensors market,by type (2013-2018) ($M)
Distance measurement sensors are used in varying applications like packaging, automation, robotics, safety systems and consumer electronics for varying purposes. They typically use inductive, capacitive, ultrasonic, IR, photoelectric and CMOS sensing technologies based on the distance of measurement, accuracy and speed of measurement. Most companies manufacture a mixture of distance measurement sensors, proximity and displacement sensors and customize them based on the needs of the end consumer.

The constant demand for Distance Measurement Sensor services is currently on a steady growth incline worldwide. It has been estimated to have a compound annual growth rate of around 9.11%, and the current stability of the market is predicted to continue for the next six to seven years. At this pace, it is noted that by 2020 the market for distance measurement sensor can grow to around $2 billion. Present market conditions easily peg the market to have an estimated growth of around $1.76 billion by 2018.

The global distance measurement sensor market is known to be an amalgamation of a wide variety of technologies, like ultrasonic, LED, Laser and capacitive sensors, among others. In the last few years, steady technological advancements considerably reduced the average selling price of the products, the components of manufacturing, and made them more easily available to general consumers. 

To browse table of contents click below:                 

http://industryarc.com/Report/62/global-distance-measurement-sensors-market.html

Distance measurement sensors have a significant impact on the process automation and factory automation parts of a product manufacturer. With the accuracy levels of the sensors on a steady rise, the number of defective products is identified more effectively and quickly, which reduces recall rate and significantly increases production procedure, especially of assembly line products. The need for faster production and supply poses to be the primary market growth factor to this billion dollar industry.

Essentially, distance measurement sensors are used in a considerable number of applications that deal with packaging, automation, robotics, safety systems, and consumer electronics, and they have a large number of use case scenarios. Currently in the market, a mixture of distance measurement sensors, proximity and displacement sensors, are being customized by the companies to meet the needs of the consumers. However, these can be further refined in the near future by improving the sensing technologies used in distance measurement, and further expansion of the scope for the application. Through-beam, retro-reflective, and time of flight are considered to be some of the commonly used measurement techniques used by distance measurement sensors.

At present, the investments made in different distance measurement technologies is set to rise, with the thought to make them more readily available and lower their prices considerably to raise the size of the market. In the current market, ultrasonic sensor technology provides the highest amount of contribution, with about 40% stake in the $1.14 billion industry. The growth in the factory and industrial automation market is also noted, where outsourcing to Asia Pacific countries will directly impact the distance measurement sensor market, by lowering the production cost significantly. At present, China is the largest market for distance measurement sensors in Asia and also worldwide.

IndustryARC believes that this market is quite mature with established players and there are currently no immediate threats from new entrants. It is a steady, stable segment which has the propensity to become much larger in the coming future.

Request for the sample data/brochure:

http://industryarc.com/request-a-call.aspx?type=report&cid=62

About Us: IndustryARC is a research and consulting firm that publishes more than 20 reports every month in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare. Contact us to find out how we can help you today!

Contact:

Sanjay Matthews                                           

Manager, Client Relationships

IndustryARC

Phone: 1- 614-588-8538

Email: [email protected]

LinkedIn: http://www.linkedin.com/company/industryarc

Facebook: https://www.facebook.com/industryarc

Twitter: https://twitter.com/IndustryARC

Media Contact
Company Name: IndustryARC
Contact Person: Sanjay Matthews
Email: Send Email
Phone: 1-614-588-8538 (Ext-102)
Address:IndustryARCâ„¢ Q3, A3, Cyber Towers Madhapur, Hyderabad
City: Hyderabad
State: Andhra Pradesh
Country: India
Website: http://www.industryarc.com

Source: www.abnewswire.com

Related Articles