A new report from Frost & Sullivan found that in 2012 the global sensors and transmitters market generated revenue of $64.78 billion, and estimates this to increase to $95.67 billion in 2016.
With evolution of technology and need for greater control, optimal resource utilization and integrated solutions that enable cost reduction are vital. Meeting this challenge requires in-depth understanding and commitment of technical and commercial resources from sensor manufacturers.
“Consistent high-quality customer service is a key element, especially with constant technology up-gradation and continuous product innovations on the horizon,” said Sensors & Instrumentation Principal Analyst Dr. Rajender Thusu. “Sensor companies that monitor the changing market pulse and meet client needs will see success.”
Evolving sensor features that have been developed for dynamic customer needs include soft sensors, self calibration, auto-correction and wireless communication for monitoring and control applications.
“With an increased level of accuracy, the reliance on sensors is growing in most end-user applications as never before,” said Thusu. “In fact, sensors are experiencing unprecedented penetration into industrial, commercial, consumer and service sectors. These target markets have well-entrenched market participants that exhibit continuous commitment through product development, innovation, and a perennial customer service approach to stay ahead.”