The demand for sensor products in the U.S. is expected to reach more than $12 billion in 2012, according to recent research report released by Cleveland, Ohio-based research firm The Freedonia Group.
From 2002 to 2007, the demand for sensors in the U.S. grew modestly by 2.8 percent per year. But from 2007 to 2012, analysts say that growth number will spike to nearly 4.3 percent a year.
The biggest factor for the expected growth is attributed to the automotive industry and the increasing number of vehicles being produced that contain sensor technologies, especially those used for on-board vehicle diagnostics.
The military, as well as the aerospace and security systems industries and also expected to have an impact on the sensor market, according to the report.
"Dynamic areas such as biometric access controls and advanced contraband detection systems will stimulate healthy growth in markets for related sensor products," said Pauline Tung, the Freedonia analyst who authored the report. "Opportunities also exist in more conventional applications, such as imaging sensors in CCTV systems, which will benefit from improved resolution capabilities. Overall sensor market growth beyond 2012 is forecast to be slightly slower than that expected through 2012, due to market volatility and pricing pressure."
