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Global Chemical Sensors Market to Reach $20.45B by 2018
June 26, 2015 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Global Chemical Sensors Market - Growth, Trends & Forecasts (2014-2020)" report to their offering.
The Global Chemical Sensors market is expected to increase to $20.45 billion by 2018 at a CAGR of 7.60% over the period 2014-2020
The Asia Pacific region is expected to estimate a huge growth rate when compared to other regions because of the presence of developing countries such as China & India. Chemical sensors market share for North America is the highest followed by Asia Pacific and Europe. Chemical sensors growth towards increase in the production of light vehicles, demand for quick accurate diagnosis in medical sector, and technological advancements are the key drivers which are making the chemical sensors market to grow lucratively. The growth of the Chemical Sensors Market is currently being hindered by decrease in automobile emissions testing due to the falling number of vehicles that need to be tested through the tailpipe.
Electrochemical sensors are anticipated to see the fastest growth, with demand reflecting recovery in manufacturing. Optical sensors will continue to benefit from their high sensitivity, stability, immunity to interference, and product improvements such as smaller size and enhanced ruggedness. Sales will be enhanced by the growing prevalence of diabetes in the population and by rising demand for home and point of care testing and monitoring tools.
The Chemical Sensors Market is segmented on the basis of Type (Electrochemical, Optical, Pellistor/Catalytic Bead, and Others), End User Industry (Medical, Automotive, Industrial, Environmental Monitoring, and Others), and Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa).
This report describes a detailed study of the Porter's five forces analysis, market segments, major geographies, and current market trends. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. It also covers the market landscape of these players which includes the key growth strategies, geographical footprint, and competition analysis.
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