Mature markets and technologies signal strong competitive dynamics for temperature sensors and transmitters
New York, NY -- Manufacturers of temperature sensors and transmitters in North America are likely to witness modera...
New York, NY — Manufacturers of temperature sensors and transmitters in North America are likely to witness moderate growth even though they are challenged by the market saturation of many technologies that are in the late stages of their life cycle, according to a recent study by Frost & Sullivan.
Market participants are focusing on driving down costs, as there is a compelling need for economies of scale, which will provide an edge over competitors. They are also likely to move toward selling more profitable, sophisticated technologies such as infrared and integrated circuit sensors, as certain segments are experiencing flat growth.
Advanced technologies such as infrared sensors are likely to witness significant growth – in fact, over double the growth rate of the total temperature sensors market – with a continuous devolution in price. The efforts of infrared sensor manufacturers to target under-served markets are expected to widen the existing user base and also open up new sales avenues in many process control industries. However, end users in process control industries are reluctant to adopt infrared sensors, as they are unsure about its use/benefits and the return on investment on equipment price.
“Infrared sensor manufacturers have to redefine technology and their sales efforts to ‘cross the chasm’ and overcome the uncertainties prevalent among end users,” says Frost & Sullivan. “This will enable them to match specific user needs in each market and thereby, crack the true market potential in these industries”.
The Frost & Sullivan research examines the North American temperature sensors and transmitters markets and the following types of sensor technologies – infrared, thermocouple, resistance temperature detector (RTD), thermistor, integrated circuit, and temperature transmitter.
The report provides market potential analysis of different technologies in many end-user industries that include chemicals, petrochemicals, oil and gas, food and beverages, pharmaceuticals, and metals.
For more information about this report, call 877-463-7876 or visit www.frost.com.