Market players with multifunctional technologies set to enjoy huge growth opportunities, finds Frost & Sullivan’s TechVision team
The sensor industry is pushing the boundaries of innovation by employing a host of sensor technologies that were previously considered unsuitable for the development of disruptive devices. The steady rise in technology convergence in the electronics industry underlines a market shift toward personalization and cost reduction. Some of the new sensor technologies, such as advanced driving assistance systems (ADAS) and electronic skin, have resulted in novel business models and marketing strategies, accelerating the evolution of the electronics industry.
Top Technologies in Sensors and Instrumentation, 2017 is part of Frost & Sullivan’s Techvision (Sensors & Control) Growth Partnership Subscription. This study presents a detailed picture of the disruptive factors, patents, funding and competitive structure of technology innovators developing biosensors, touchless sensing, smart haptics, ADAS, electronic skin/e-skin, energy harvesting, drones, robotics sensors, electronic nose and nanosensors. The insights will enable players to align themselves with the market trends and be early adopters of novel technologies.
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“Trends such as miniaturization, sensitivity, selectivity, self-diagnostics and interoperability are prompting advances in sensing systems across a wide range of industrial applications,” noted Frost & Sullivan TechVision Research Analyst Varun Babu. “The Internet of Things, too, will be a key enabler of advancements in sensor technologies, particularly in the sectors of healthcare, military and defense, automotive, consumer electronics, robotics and environmental monitoring. These technologies will aid early security threat detection, point-of-care diagnostics, reduced road collisions, continuous environmental monitoring, and building smart cities.”
The ground-breaking technologies in the sensors and instrumentation space have eased the entry barriers for new market players as well as opened up several growth opportunities for the existing ones. In addition to the disruptions, various funding options have brightened the prospects of existing players and encouraged greater R&D.
“Various research institutes are working on developing sensors with multiple functionalities,” observed Frost & Sullivan TechVision Research Analyst Arjun Mehta. “In the near future, with the advancement of Internet of Things and its associated smart applications, demand for sensors is expected to increase, where these sensors can be integrated with flexible wearables and also supports energy harvesting applications.”
Frost & Sullivan’s global TechVision practice is focused on innovation, disruption, and convergence, and provides a variety of technology-based alerts, newsletters and research services as well as growth consulting services. Its premier offering, the TechVision program, identifies and evaluates the most valuable emerging and disruptive technologies enabling products with near-term potential. A unique feature of the TechVision program is an annual selection of 50 technologies that can generate convergence scenarios, possibly disrupt the innovation landscape, and drive transformational growth.
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Top Technologies in Sensors and Instrumentation, 2017
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