SecurityWorldMarket

31/07/2019

Shock sensor market to grow at over 17% CAGR to 2025

San Francisco, Ca (USA)

The global shock sensor market size is expected to reach USD 1,726.7 million by 2025, registering a CAGR of 17.2% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc.

The increasing use of shock sensors in oil and gas exploration activities and products such as laptops, ATMs, bank vaults, burglar alarms, and sports & safety helmets is expected to remain the key factor driving their demand over the forecast period. The increasing number of smart city initiatives undertaken across different countries is expected to further fuel the shock sensors market growth.

Shock sensors are compact in size as well as affordable. These benefits are leading to their large-scale use by buyers in the consumer electronics segment. They are also deployed inside cars and homes, wherein any kind of forced entry or a slight tap triggers an alarm. Moreover, they are user-friendly and consumers can operate and track the alarm performance using a laptop or a smartphone. These easy-to-use features are leading to a surge in their demand.

Furthermore, shock sensors are widely used in sports helmets. They are embedded in helmets and mouth guards to record impacts whenever players injure themselves and play a crucial role in determining the nature of the injury, thereby helping doctors/health experts decide the best course of treatment. The data emitted by these sensors is transferred to smartphones or a connected computing device, which helps offer timely medical assistance. For instance, I1biometrics, a Washington-based company, manufactures a variety of shock sensors designed specifically to be attached to helmets for rendering timely assistance to sports persons.

There has been a growing need for protecting shipped goods from damages caused during transit. This is one of the major factors expected to drive the market growth over the forecast period. Additionally, the demand for shock sensors is increasing in Asia Pacific, Alaska, and Africa owing to the steady growth in oil and gas exploration activities in these regions. The shock sensors used for various applications in the oil and gas industry are rugged and can withstand harsh environments with very high temperatures.

The major players have been shifting their focus on research and development activities aimed at the development of new technologies and fine-tuning their existing products to sustain the growing competition. The manufacturers also offer a few key add-on services such as maintenance services and the add-on software analytics used to measure shocks. These measures are enabling manufacturers to maintain their market positions.

Other key findings from the report suggest that the aerospace segment is anticipated to register the highest CAGR from 2019 to 2025 owing to the growing use of sensors for recording and monitoring vibrations in hazardous environments.

If we look at predictions for the types of product, then it is the strain gauge segment that is anticipated to register the highest CAGR of 20.6% from 2019 to 2025 owing to the increasing adoption of strain gauge shock sensors as primary sensors.

Geographically speaking, it is the Asia Pacific regional market that the analysts anticipate will reach USD 545.6 million by 2025 owing to the increase in aerospace and defense budgets of countries such as India and China.

Key industry participants cited by the researchers include TE Connectivity; Murata Manufacturing Co., Ltd.; PCB Piezotronics Inc.; Honeywell International, Inc.; Dytran Instruments Inc.; Mobitron AB; Meggitt SA; Spotsee; IMI Sensors; Signalquest, LLC; Climax Technology Co. Ltd.; and I1biometrics.


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