The global flow sensors market is innovation and technology driven market with expanding applications in the field of healthcare electronic devices and equipment that are used to sense and monitor pressure, temperature, chemicals, positions and other biological indicators of patients for the purpose of diagnosis, therapeutics and monitoring. The flow sensors helps to measure liquid and gas flow quality.
The flow sensors have demand in various applications like automotive, environmental, medical, consumer electronics and process industry. Medical sensors measures physical property of body and responds by converting them into electrical or optical signals. These sensors play an important role in the chronic diseases such as cancer, cardiovascular, and respiratory to measure the physical property by converting it into an electrical signal. The different types of medical sensors are temperature sensors, pressure sensors, accelerometers, image sensors, biosensors, flow sensors, SQUID sensors and others. These are used in medical processes such as inhalers, respiratory applications, maintaining blood flow and anesthesia machines, etc. It is also important for continuous monitoring of gas flow and volume during artificial ventilation, to deliver precise amount of gas to a patient and reducing risks. The sensors have evolved in sensitivity, versatility reliability, and compactness owing to enhanced application needs. These are being extensively used in process and discrete industries, including oil and gas, water and wastewater treatment, chemical and petrochemical, food and beverage, pulp and paper, and automotive. The medical segment is expected to make way for rapid penetration of image sensors with several new advancements using fiber optic technology in image sensing equipment. The increasing demand of smart flow sensors, with two-way communication and self-diagnosis capabilities are expected to be favorable for the growth of the market. Also, the introduction of microcontroller based sensors has opened up new horizons for the market to grow. The automotive flow sensors market is predicted to experience healthy growth during the forecast period, as the automotive industry is facing rapid progress. The sensors are used for secondary air injection control, engine control, and exhaust gas recirculation, etc. Also, they are used in automobile HVAC application, electronic engine immobilizers, and fuel cells. In the environmental segment, there is a growing emphasis on energy efficiency with numerous initiatives being undertaken to ensure and promote energy efficiency all over the world. These developments are favorable for the growth of global flow sensors market. The process industries is another segment that is expected to aid the growth of the global flow sensor market. This segment requires robust, durable and sturdy sensors to withstand the harsh environment in which it has to be used. The increasing demand for multi-phase sensors and the pursuit of new and alternate energy sources is also expected to contribute towards to the flow sensor applications in the oil and gas industry. The sensors market in healthcare industry has evolved from a low coverage into a market giant over past decade. Rapid technological advancement, vast R&D activities, increasing demand for sophisticated medical equipment are a few major factors driving the sensors evolution in the healthcare sector, boosting overall revenue.
The global flow sensor market is a dynamic one, and the traditional flow sensors are expected to be replaced by new technologies such as ultrasonic, thermal and Coriolis during the next decade. The market is also immensely competitive and price sensitive; and with huge number of global and regional players, it can be a drawback for the market during the forecast period. The market growth is also highly dependent on timely supply of raw materials and other equipment, this is one of the major challenge and concern for the overall market. Asia-Pacific is likely to be the key regional flow sensors market during the forecast period courtesy of the emerging markets of China, India, and Japan, etc. Europe with a stagnant economic growth is expected to grow slower than the overall market. Though North America holds the largest share of the market, it is expected to grow slower than the developing markets.
The global flow sensors market is highly fragmented in nature due to the presence of numerous sensors manufacturing companies. Also, there are regional, small scale producers present having a strong hold in their domestic market; most of them being located in the Asia-Pacific region. The major players in the report include ABB Ltd, Analog Devices Inc., Azbil (Yamatake), Delphi Automotive LLP., Freescale Semiconductor, Honeywell International, Infineon Technologies, McMillan Company, Meggitt Sensing Systems, Motorola Solutions, Omega Engineering and so on. R&D and innovation are the key strategies of the market. Procuring raw materials and sensor parts of adequate quality in necessary quantities and in timely manner is crucial for market participants and their growth; making them highly dependent on the suppliers. However, limitation or issues regarding supply could arise owing to major supply chain disruption such as accident or any natural disaster, hindering the market growth.