The Thin-Film Sensors Market To Grow To Nearly $2.4 Billion By 2018
Wellesley, MA (PRWEB) January 28, 2014
According to a new technical market research report, Global Markets and Technologies for Thin-Film Sensors, from BCC Research (http://www.bccresearch.com), the global market for thin-film sensors was valued at $2.1 billion in 2012 and is estimated to decline to nearly $2 billion in 2013. However, BCC Research projects the market to grow to nearly $2.4 billion by 2018, and register a five-year compound annual growth rate of 3.8% from 2013 to 2018.
Thin-film sensors are a segment of the thin-film industry that has been characterized by very steady growth during the past 30 years, driven by miniaturization trends within the electronics industry, the availability of advanced processes, and the evolution of nanotechnology. Thin-film sensors are a category of sensors comprising one or more layers that are very thin, with a thickness of 5 microns or below. Different process technologies, which can be broadly classified as subtractive or additive methods, are available to produce these films. These processes allow for the manufacture of devices that are very small and/or compact, and, most importantly, that in many cases exhibit unique and advanced features.
Sensors for medical, biomedical and general wellness represent by far the largest share of the market. Revenues within this segment are primarily driven by sales of test strips used in blood glucose monitoring devices. Although they generate a much smaller proportion of revenues, the industrial and instrumentation sectors also account for a significant share of the market.
Demand for thin-film sensors is projected to resume faster growth during the next five years due to a variety of factors, including improving global economic conditions; increasing incidence of certain medical conditions, first and foremost diabetes; growing diffusion of portable, wearable, and flexible devices; aging population in need of medical care; rising healthcare costs that will promote the growing use of self-testing and self-monitoring systems; introduction of more efficient and cost-effective production technologies; and ongoing miniaturization trends.
This technical market research report from BCC Research provides a review of thin-film sensors, including materials and production processes, and identifies current and emerging applications for this technology. It delineates the current market status for thin-film sensors, defines trends, and presents growth forecasts for the next five years. The thin-film sensor market is analyzed based on the following segments: type, application and region. In addition, technological issues, including key events and the latest process developments, are also discussed.
This study will be of primary interest to all organizations that manufacture, sell, and distribute thin-film sensors and other thin-film and flexible devices; supply raw materials for the production of thin-film sensors; manufacture process equipment utilized by producers of thin-film sensors; fabricate products that utilize thin-film sensors (such as process equipment, heating and air conditioning systems, medical devices, circuit devices, portable electronic devices, wearable electronic products, and test instruments); provide technical and/or marketing services in conjunction with the above mentioned products; and are planning to enter the thin-film sensor industry as a supplier, manufacturer, or end user.