Vibration,Sensors-,billion,opp marketing Vibration Sensors- A $34 billion opportunity by 2020
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The proliferating demand for Vibration Sensors in the aerospace and the automobile sectors is driving the market to grow at a compounded annual growth rate of 7.19% during the six year analyst forecast. The advancement in technology and the miniaturization applications will lead the market to reach $34 billion by 2020. The automotive and aerospace together will be responsible for more than 67% of worldwide demand. The other major sectors of demand will be seen in consumer electronics, machine monitoring, coal mining and healthcare. The customization in the vibration monitoring is rising on the basis of load capacity, size and frequency range. They have their applications in wide areas as breathing monitoring, vibration in shock treatment, wear in manufacturing plants, measuring machinery vibrations and wind generation vibrations, and other applications. They are also used to check construction quality, finger touch screens and digital displays. There also exist non-contact vibration sensors which can measure the vibration without a contact with object through a laser beam.The worldwide highest demand will be observed in North America which is estimated to reach $12.72 billion by 2020 at a projected growth rate of 8.12% during the analyst forecast. This is mainly due to the existence of US market which denotes 31% of global market. The US vibration sensors demand is due to the scope of manufacturing sector demand and healthcare applications. Asia Pacific is also closely following with an increased need for the vibration sensors in consumer electronics. The region is known for the highest smart devices and appliances along with the rising production capacity of automotive segment. Currently, the region is responsible for almost $6 billion and is estimated to become second largest $9.5 billion regional market. It is also a fastest growing region globally with a compounded growth rate of 8.2% during six year analyst forecast. China is the largest market in Asia Pacific whereas the major market from Europe is driven by France and Germany.The Automotive segment is responsible for the increasing demand in Latin America and European region. While the European region is eyeing for a $9 billion market by 2020, the focus of the vibration sensor suppliers is shifting towards the Latin American region due to their increasing automotive production capacity. Middle East and Africa led by UAE and Saudi Arabia is also showing a significant growth rate of 4.76% and together will account for more than $1 billion market by the end of 2020.The Vibration Sensor market includes accelerometers, velocity transducers, non-contact displacement sensors and variable capacitance sensors. The accelerometer is the major segment in the market showing a very high growth rate. The Piezoresistive accelerometers which find its increased usage in automotive testing account for more than 36% of the vibration sensors market. The accelerometers are followed by the non-contact displacement sensors which have emerged to improve the research and development in the assembly lines of automotive manufacturing. The global market is booming and the sensor suppliers have a wide array of opportunities and the potential markets to target. Article Tags: Vibration Sensors, Growth Rate, Analyst Forecast
Vibration,Sensors-,billion,opp