USD 250 BN OF POTENTIAL OPPORTUNITY IS OPENING UP IN SENSOR INDUSTRY
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as IIOT heads to $ 80 bn sales revenue Sensors market is the next big trend- $250BN of potential opportunity to be opened up
GLOBAL sensors technology STUDIES & PROJECTS COMPRISING ADVANCED AR/vr devices; Market growth could be attributed to manufacturing revamp in developed and developing countries as well as increasing advancements in lifestyle products such as wearables, Cognitive computing, and extended reality
IN sensor technology MARKET, WE ARE WITNESSING INCREASING penetration OF sensors into Automation, precision agriculture, connected cars, Healthcare monitoring systems ETC. WHICH CAN DISRUPT THE DEMAND FOR smart sensor devices, IN TURN IMPACTING THE GROWTH of the MARKET
TOP Sensors Technology Market GROWTH STORIES
MNM provided consultation to AUGMENTED REALITY EQUIPMENT START-UP to increase revenue by USD 50 MN in 5 years. We helped them prioritise countries, sensor eco-system market data which wasn’t readily available in certain countries.
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MNM helped a retail giant FETCH REVENUE TARGETS OF >USD 100 MILLION IN 5 YEARS. We helped them assess potential of smart sensors in retail market
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MNM helped a retail giant FETCH REVENUE TARGETS OF >USD 100 MILLION IN 5 YEARS. We helped them assess potential of smart sensors in retail market
Download PDFSensor technology MARKET IS ESTIMATED TO GROW AT A HEALTHY CAGR OF 8-10% IN THE COMING 5 YEARS, DRIVEN BY rising popularity of iot and connected devices and growing applications in precision agriculture and robotics
ADDITIONALLY, WE HAVE ASSISTED A HOST OF smart sensor technology PLAYERS to TAP HIGH GROWTH OPPORTUNITIES ACROSS EMERGING END-USERS, GEOGRAPHIES & COMPETITION
WHY DO COMPANIES NEED HELP TO GROW?
ABSENCE OF ORIGINAL RESEARCH:
- Complex and overlapping markets for library prep and target enrichment kits, hence difficult to calculate market potential and TAM
- Insufficient secondary research for strategic decisions
INTELLIGENCE IS NOT DEMOCRATISED:
- Client unmet needs need to be understood by all market facing employees for new product development and vendor selection.
- Bleak knowledge about upcoming technologies and growing applications such as consumer electronics and healthcare applications
MARKET PRIORITIZATION:
- Lack of sensor technology knowledge and practice in competitive intel, pricing and product features, especially in sensors
SOME UNKNOWNS & ADJACENCIES
- Adoption levels of automation in sensors is low. Currently it ranges between 30-40% globally, however, in developed countries it is approaching 50%. As automation reduces TAT, helps in minimization of errors and provides reproducible results, it is largely used in consumer electronics and healthcare applications
- Increasing focus on personalized health tracking drive the sensors in wearables market
- Markets such as sensors in healthcare, sensors in automotive, and sensors in manufacturing provide immense growth opportunities owing to rising popularity of IoT and connected devices
- In target enrichment, developed countries use compact devices are mostly preferred
GROWTH PROBLEMS ENCOUNTERED BY Sensors Technology Market COMPANIES
Customer prioritization and assessing unmet needs:
- What are the disruptions in our clients’ businesses? How can we support them for our own growth?
- Who are the most potential customers going forward? Should we prioritize consumer electronics, healthcare, enterprise & industrial applications or aerospace & defense companies?
- What are the key unmet needs of customers? Who are the key stakeholders in different settings? Do vendor selection criteria differ by settings? Which new product features should be added to the existing products?
Where to Play:
- Which applications and technologies should we focus on? Should it be AR/VR, Precision Agriculture, Manufacturing, Commercial Electronics, or any other?
- Which regions should we place our bets on? Should we continue with developed countries or do developing countries offer more growth opportunities?
Building a compelling Right to Win (RTW):
- For M&A, which are the right targets for us? Should we target AR/VR, Precision Agriculture, Manufacturing, Commercial Electronics, or any other? Should we enter new markets directly or through partners?
- How can we differentiate from top players? What is their right-to-win vs ours?
OBSTACLES TO GROWTH FOR CURRENT PLAYERS
- Not able to keep pace with fast evolving sensor industry – New technologies are emerging leading to decreasing cost of devices
- Many start-ups and emerging companies eating up market share of established companies
- Limited clarity on unmet needs, hence requirements for product features
- Limited clarity on relevant vs redundant sensor devices for the future
- Unclear picture about the regulatory and reimbursement scenario
KEY UNCERTAINTIES/ PERSPECTIVES WHICH INDUSTRY LEADERS SEEK ANSWERS TO:
KEY QUESTIONS OF Sensors Technology Market COMPANIES
- Which sensor technology will be relevant and redundant in the next 5 years?
- Can smart sensor devices become affordable?
- How can companies optimize the manufacturing processes to be more agile and efficient to achieve a more features which higher efficiency?
- What regulatory policies can help strategize and achieve higher sales?
- What can be done to increase the awareness of smart sensor devices in healthcare applications?
KEY QUESTIONS OF COMPANIES IN ADJACENT MARKETS
- What are the regulations surrounding data privacy and security?
- Which machine learning approaches can be used to address data limitations so that AI models do not lead to misleading insights or faulty predictions?
- How are companies handling machine bias?
- When can a 100% AI integration into smart sensor devices be expected?
- What will be the impact of automation on smart sensor market?
LEADERS ACROSS VARIOUS FUNCTIONS IN sensor COMPANIES NEED HELP IN TACKLING BELOW INTERCONNECTED REVENUE RELATED PROBLEMS (1/1)
LEADERS ACROSS VARIOUS FUNCTIONS IN sensor COMPANIES NEED HELP IN TACKLING BELOW INTERCONNECTED REVENUE RELATED PROBLEMS (1/2)
LEADERS ACROSS VARIOUS FUNCTIONS IN sensor COMPANIES NEED HELP IN TACKLING BELOW INTERCONNECTED REVENUE RELATED PROBLEMS (1/3)
What is driving change
in your business
- Product life cycles getting shorter.
- Ecosystems getting converged.
- Newer technologies and new use-cases disrupting.
- New markets, new geographies, new clients, competition and partners.
Are changes only impacting you or your clients and their clients as well?
The trial will be a guided tour by our representative to help you discover the shift in revenue sources of your clients and clients' clients that will impact your revenue. This is your opportunity to unlock the research IP worth $100 million
REVENUE IMPACT STORY: MNM PROVIDED CONSULTATION TO AN AUGMENTED REALITY EQUIPMENT START-UP TO ASSESS THE GAMING MARKET SCENARIO THAT COULD INCREASE THEIR REVENUE BY >USD 50 MILLION IN 5 YEARS
REVENUE IMPACT STORY: MNM PROVIDED A 360° VIEW ANALYSIS OF SMART SENSORS ADOPTION IN RETAIL MARKET FOR A RETAIL GIANT THAT COULD HELP THEM FETCH REVENUE TARGETS OF >USD 100 MILLION IN 5 YEARS
REVENUE IMPACT STORY: FOR A LEADING PATIENT MONITORING COMPANY,MNM HELPED THE CLIENT IDENTIFY A REVENUE OPPORTUNITY OF >US$100 MILLION IN 4-5 YEARS IN CLINICAL GRADE SMART SENSOR MARKET
THE FOCUS OF MNM RESEARCH IS ON HIGH-GROWTH MARKETS AND EMERGING TECHNOLOGIES, WHICH WILL BECOME 80% OF THE REVENUES OF sensor PLAYERS FROM the ECOSYSTEM IN THE NEXT 5–10 YEARS
INDICATIVE LIST OF OTHER PROJECTS EXECUTED FOR Sensors Technology Market COMPANIES:
- IoT Sensors Market
- Wireless Connectivity Market
- Industry 4.0 Market
- Connected Car Market
- Wireless Devices Market
- Medical Electronics Market
We UNDERSTAND THE ECOSYSTEM OF sensor TECHNOLOGY AND HAS RESEARCH COVERAGE ACROSS THE ECOSYSTEM
impacting you and
your clients
Sensors Technology Market COMPANIES
TETSUYA OHHIRA,
BUSINESS DEVELOPMENT MANAER-TECHNOLOGY BUSINESS,
NIKON CORPORATION
MarketsandMarkets response is quick. Their attitude is flexible and positive. Analyst insights are globally consiered and significant. Client Services quickly respond to our inquiry and demant. Their wide range of global surveys help us make our strategic plan.
We hope Knowledge Store will be easier to search for a report.
VP - MARKETING & BISINESS DEVELOPMENT,
LEADING PROVIDER OF PROCESS CONTROL SOLUTIONS,
WE engaged with MarketsandMarkets ona study to perform and analysis and recommedd a GO-TO-Market strategy for metrology and process controll in the semiconductor market. The study was tailored to our targets and needs with well-defined milestones, Our overall experience with the MarketsandMarkets team was very good throughout the project in all aspects in including the analysis methodologies used, the quality and depth of primary and secondary data sets, the professionalism and flexibility of the team and the ability to meet the target sehedule and mlestoones. We want to thank MarketsandMarkets team for a job well done.
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