Growing Technological Advancements Coupled With Increasing Adoption in Automobiles, Mobile Phones, Medical Equipment, Industrial Equipment and Military and Civil Aircraft is Propelling Growth in the Global Microsensor Market
The global market for microsensors has been witnessing strong growth over the past few years. Growth in the consumer electronics, automotive, military and healthcare industries is stimulating the demand for different types of microsensors in these application sectors, globally. The launch of technologically advanced microsensors is also contributing positively toward growth in the global microsensor market. Leading sensor manufacturers offer a wide range of microsensors, including MEMS, biochips and nanosensors. MEMS is a sensing device that integrates mechanical elements, sensors, actuators and electronics in a common silicon substrate, available in 1-micron to 100-micron dimensions. Biochip, a silicon chip-based detection device, integrates a living organism and a transducer to provide a signal of recognition for a specific substance, while nanosensors incorporate nanoengineered structures such as nanotubes.
According to the recently published TechSci Research report, "Global Microsensor Market Forecast & Opportunities, 2019", the global market for microsensors is forecast to register a CAGR of around 10% during 2014-19. The market is broadly categorized into MEMS, biochip and nanosensor segments, with the MEMS segment accounting for the largest revenue share in 2013. Within the MEMS segment, the market was largely driven by pressure, accelerometer and gyroscopic sensors, primarily due to growing application in consumer electronics and automotive industries. Accelerometer and gyroscopic MEMS sensors are anticipated to witness remarkable growth during the forecast period due to their increasing penetration in smartphones and smart wearable devices.
Americas is forecast to continue dominating the global microsensor market, on account of growing healthcare, consumer electronics and passenger car & commercial vehicle markets in the region. Robert Bosch GmbH, STMicroelectronics N.V., Analog Devices Inc., Freescale Semiconductor, Inc., GE Measurement & Control Solutions Inc., Texas Instruments Incorporated, Sensonor AS, OMRON CORP., Murata Manufacturing Company Ltd., and MEMSIC, Inc. are among the leading microsensor manufacturers, globally.
"Growing adoption of nanosensors in healthcare and security applications, sensor fusion, biochip array technology and next generation MEMS sensors are some of the key emerging trends in the global microsensor market. Asia-Pacific, primarily countries such as China and Japan, is emerging as a major market for microsensors, and is forecast to witness fastest growth among other regions through 2019. Consequently, leading global sensor manufacturers are focusing their attention toward the Asia-Pacific region to expand their presence in the global microsensor market." said Ms. Shefali Garg, Analyst with TechSci Research, a research based global management consulting firm.
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