Wellesley, MA (PRWEB) September 21, 2013
According to a new technical market research report, MEMS: Biosensors and Nanosensors from BCC Research (http://www.bccresearch.com), the global market for microsensors was valued at $8.5 billion in 2012 and is expected to reach $9.5 billion by 2013. BCC Research projects the market to reach nearly $15.8 billion by 2018, and register a compound annual growth rate (CAGR) of 10.7%.
Microsensors have proven to be a key enabling technology for developments in sectors such as transportation, telecommunications, and health care, but the range of microsensors’ applications covers nearly every sector. The key advantage of microsensors is their ability to communicate easily with semiconductor chips. This advantage has proven to be a key enabling technology for development in sectors such as transportation, telecommunications, and health care. Other advantages include microsensors’ compact size, reduced power consumption, lower cost, and increased reliability. The growth in the use of microsensors has also led to the creation of supporting industries in areas such as design software, design services, specialty fabrication equipment, and fabrication facilities.
The range of microsensor products and applications has grown rapidly in the past few years, but it is important to avoid “hyping” their prospects. Although some types of microsensors (airbag accelerometers, for example) have had great commercial success, other types (such as most types of nanosensors) have enjoyed lesser success rates. As other technologies remain at the discovery and developmental stages; their eventual commercialization will require the commitment of substantial resources, with long payback periods and significant financial risk.
This report from BCC Research takes a hard look at the market for microsensors and provides a road map for the technologies and applications that are likely to enjoy the greatest commercial success in the years through 2018.This comprehensive report, an update of an earlier BCC Research report published in 2011, addresses the global market for microsensors, including MEMs, biochips, and nanosensors. It provides investors and others with information on the commercial potential of various microsensor technologies and applications to assist them in making the key business decisions that lie ahead. Specifically, the report identifies segments of the microsensor market with the greatest commercial potential in the near term to mid-term (2013 to 2018), projects future demand in these segments, and evaluates the challenges that must be overcome for each segment to realize its potential.
The methodologies and assumptions used to develop the market projections in this report are discussed at length in the detailed market estimates and projections for each microsensor technology. The report carefully documents data sources and assumptions. This way, readers can see how the market estimates were developed and, if they so desire, test the impact of changing assumptions, such as about price, on the final numbers.
This report is intended especially for microsensor marketing executives and other executives charged with asset allocation and corporate strategy, as well as entrepreneurs, investors, venture capitalists, and other with a need to know where the market for microsensors is headed in the next five years. The report will be useful to the research and development community who seek to anticipate future flows in R&D funding. Officials of related government programs such as the U.S. National Nanotechnology Initiative will also find the report interesting.