Automation drives demand for sensors

CALIFORNIA, USA: According to a report by Frost and Sullivan, The global market for proximity and displacement sensors looks promising. The growth of this market is attributed to the new and expanding applications, coupled with the shift to enhanced automation processes and controls.

According to the research firm, the market for inductive, photoelectric, capacitive, magnetic, ultrasonic and LVDT sensors reached Rs.132.65 lakh crore ($2,427.5 billion) in 2011 after negative growth rates in 2009 and is expected to reach Rs.166.56 lakh crore ($3,048.1 billion) in 2018.

"The need for better automation is expected to allow for the conversion from older and less sophisticated controls to state-of-the-art automation. As a result, the number and range of sensors used in equipment is increasing,” said V. Sankaranarayanan, senior industry analyst at Frost & Sullivan.

The demand is primarily driven by the end users who are demanding more functionality from proximity sensors due to rising sophistication in manufacturing process. New network technologies like CompoNet and IO-Link) and other diagnostic capabilities are some of the latest advancements that could boost market prospects.

Due to surging production and automation, the Asian market is becoming a promising geography for this segment whereas developed and matured markets like Western Europe and North America is seeing slower growth.

"Production in emerging economies, such as China and India, is becoming increasingly automated. Robust economic growth in these regions is expected fuel the demand for proximity and displacement sensors,” said Sankaranarayanan.

Proximity sensors are in high demand in almost every industry due to the importance of feedback and the widespread consumer demand for them. Asian countries, other than India and China are seeing immense growth opportunities in this segment.

"It is important to offer more than just a sensor; market participants will have to focus on providing complete solutions. Price pressures will continue to pose a challenge, so vendors will need to constantly advance on the technological front,” said Sankaranarayanan.