Report Highlights
- The global market for temperature sensors is expected to grow from $7.3 billion in 2023 to $9.0 billion by the end of 2028, at a compound annual growth rate (CAGR) of 4.3% from 2023 through 2028.
- The global market for sensors is estimated to increase from $179.7 billion in 2023 to reach $300.5 billion by 2029, at a CAGR of 8.9% from 2024 through 2029.
- The global market for environmental sensing and monitoring technologies is estimated to increase from $31.3 billion in 2024 to reach $41.4 billion by 2029, at a CAGR of 5.7% from 2024 through 2029.
Research Review Scope
Instrumentation and Sensors are essential elements for most technology products being built today. Their application areas cover products from simple switches and temperature-sensing devices as part of the most basic of home appliances to sophisticated manufacturing equipment and factory automation systems. Micro-technology has revolutionized the electronics industry, and miniaturization has become a standard part of any system. Industrial requirements have increased, indicating room for growth in sensor usage.
The need for instrumentation and sensors is increasing in various applications. Therefore, it is imperative to produce high-quality sensors, and as manufacturer rivalry grows, sensor prices are decreasing faster than before. The sensors employed in automation will also be determined by how well physical characteristics are collected as data. Therefore, even though the cost aspect grows significantly, the dependability aspect would be given priority when it comes to sensors. Furthermore, an accurate dataset produced by the sensors will be necessary to develop AI technologies. Future sensors will be more intelligent and precise owing to the training of AI models on this data for categorization and regression issues.
Research Reviews from BCC Research provide market professionals with concise market coverage within a specific research category. This 2024 Instrumentation and Sensors Research Review provides a sampling of the type of quantitative market information, analysis, and guidance that BCC Research has been developing since its inception in 1971 to help its customers make informed business decisions. This Research Review includes highlights and excerpts from the following reports published by BCC Research in 2024:
- IAS072C Temperature Sensors: Global Markets.
- IAS006P Sensors: Technologies and Global Markets.
- IAS030E Environmental Sensing and Monitoring Technologies: Global Markets.
- PHO010D Fiber Optic Sensors: Global Markets.
After you survey the excerpts in this Research Review, we encourage you to follow up on these topics by checking out the full market research reports associated with each topic. BCC Research looks forward to serving your market intelligence needs in the future.
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence, providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
Report Highlights
- The global market for pressure sensors was valued at $15.8 billion in 2023, and it is expected to reach $25.0 billion by 2028, at a compound annual growth rate (CAGR) of 9.6% from 2023 through 2028.
- The global market for wireless sensors was valued at $12.3 billion in 2023, and it is expected to reach $32.4 billion by 2028, at a CAGR of 21.4% from 2023 through 2028.
- The global market for electrical current sensors was valued at $3.0 billion in 2023, and it is expected to reach $4.8 billion by 2028, at a CAGR of 10.1% from 2023 through 2028.
Report Highlights
- The global market for sensors should increase from $173.4 billion in 2019 to $323.3 billion by 2024 with a compound annual growth rate (CAGR) of 13.3% during the forecast period, 2019-2024.
- The global market for machine vision system components should increase from $19.6 billion in 2019 to $31.1 billion by 2024 with a CAGR of 9.7% during the forecast period, 2019-2024.
- The global market for quantum sensors should increase from $161.0 million in 2019 to $299.9 million by 2024 with a CAGR of 13.2% during the forecast period, 2019-2024.
Report Highlights
- The global market for UV disinfection equipment should grow from $2.1 billion in 2018 to $4.4 billion by 2023 at a compound annual growth rate (CAGR) of 16.2% from 2018 to 2023.
- The global market for portable gas detectors should grow from $1.3 billion in 2018 to $1.6 billion by 2023 at a CAGR of 4.3% from 2018 to 2023.
- The global market for remote sensing should grow from $11.3 billion in 2018 to $18.9 billion by 2023 at a CAGR of 10.7% from 2018 to 2023.
Report Highlights
- The global market for sensors reached $68.2 billion in 2012 and is expected to reach $79.5 billion in 2014. The market is expected to rise at a CAGR of 7.9% and reach $116.1 billion by 2019.
- The global market for microscopes and accessories was worth $3.8 billion in 2012. Sales are projected to exceed $4.0 billion in 2013 and approach nearly $5.4 billion by 2018, a compound annual growth rate (CAGR) of 6% between 2013 and 2018.
- The global market for remote sensing products is expected to reach $7.6 billion by the end of 2013. This market is further expected to grow to $8.1 billion in 2014 and $12.1 billion in 2019, a compound annual growth rate (CAGR) of 8.2% over the five-year period from 2014 to 2019.
Report Highlights
- Analyses of each bulk acoustic wave technology type, its current market status, examines its impact on future markets and technologies play in wireless communication and industrial, military and safety monitoring as well as instrumentation.
- Information about technological processes that have been made toward bridging the terahertz gap and assessing the commercial potential of THz radiation devices over the next five to 10 years.
- Information about pharmacy automation markets by inpatient and outpatient pharmacy settings, and by product type. Each segment is further extrapolated to provide detailed information of current and emerging products, current market estimates and market forecasts, and competitive analyses.
Report Highlights
- The global market for process analytical technology (PAT) instrumentation was valued at nearly $195 million in 2010. This market is expected to increase by a 7.4% compound annual growth rate (CAGR) to reach an estimated $279 million in 2015.
- The global environmental sensor and monitoring market was worth $11.1 billion in 2010. This market is expected to reach $11.3 billion in 2011 and $15.3 billion in 2016, a CAGR of 6.5% between 2011 and 2016.
- The global market for microscopes and accessories was worth $3.1 billion in 2010. Sales are projected to exceed $3.2 billion in 2011 and $4.1 billion in 2016, a compound annual growth rate of 5% for 2011 to 2016.
Report Highlights
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BCC Research estimates the global market for gas flow meters, sensors, monitors, and secondary flow instrumentation at about $3.6 billion in 2009 and $3.9 billion in 2010. Growing at a projected compound annual growth rate (CAGR) of 5.9%, the market should approach $5.2 billion by 2015.
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BCC estimates the total global market for RFID technologies at about $5.9 billion in 2009 and $6.4 billion in 2010. By 2015, BCC expects the market to grow to $11.3 billion, with a compound annual growth rate (CAGR) of 12.1% over the next 5 years.
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BCC estimates the global market for electronic, electro-optical, and other modern technologies used in airports to have been nearly $8.2 billion in 2009. BCC estimates the market at $10.3 billion in 2010 and expects it to exceed $13.7 billion in 2015, a compound annual growth rate (CAGR) of 5.9% over the next 5 years.
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