Frost & Sullivan: Shift To Integrated Smart Systems Spurs Use Of Gas Sensors For Industrial Applications In Asia-Pacific
SINGAPORE, April 4, 2013 /PRNewswire/ -- Advances in microelectromechanical system (MEMS) sensor technology and the advent of small, low-cost, high-performance sensors have lent momentum to the gas sensors market for industrial applications in Asia-Pacific. This growth will continue as the increasing use of integrated smart sensor systems will require equipment changes and upgrades, presenting vendors with a large replacement market in the region.
New analysis from Frost & Sullivan's ( http://www.sensors.frost.com), Analysis of the Gas Sensors Market for Industrial Applications in Asia-Pacific , finds that the market earned revenues in the range of $50.0 to $60.0 milion in 2011 and estimates this to grow at a CAGR of 11.6 percent till 2017. The research covers electrochemical, catalytic, infrared, photoionization and solid-state sensors.
"End user focus on energy efficiency has increased the demand for gas sensors that can control ventilation levels in buildings, factories and manufacturing sites," says Frost & Sullivan Measurement & Instrumentation Consulting Analyst Nguyen Huong. "Revenues are expected to go up with the introduction of affordable gas sensors with ultra-low power consumption, high reproducibility, higher sensitivity, and on-chip circuit integration."
Consumers are looking for integrated smart sensor systems with rapid response and multi-measurement capabilities. The incorporation of sensors in handheld devices, including smartphones and tablets, and the availability of features such as interrupts and first-in/first-out (FIFO) functions that enhance gas sensor performance under harsh conditions will widen the application base.Government concerns have led to legislations on industrial health and safety, further popularizing gas sensors. Devices with motion sensors that alert end users of a 'man down' situation, improved safety, and rapid response to unforeseen incidents have become essential. Despite these critical uses of traditional gas sensors in industrial applications, the trend of disposable user-friendly instruments with low maintenance costs could reduce market value. The rising prices of raw materials shrink profit margins, thereby curbing investments in research and development and hampering market growth.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts