- September 21, 2020
- Category: Electronics, Electronics Systems and Components
Global Public Safety Sensors Market is valued approximately USD 1.46 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.10 % over the forecast period 2020-2027. Public Safety Sensors are devices that detect events or changes in the environment, and provide the corresponding output. They sense physical input such as heat, light, motion, pressure, moisture and any other entity and respond by producing an output on a display or transmit the information in electronic form for further processing. These sensors find application in environmental monitoring, traffic monitoring & controlling, flood& water level monitoring systems and remote system monitoring & equipment fault diagnostics. Further, recent advances in ubiquitous computing, as well as mobile devices have propelled lucrative market growth. Also, the key players are focusing on strategies such as product launch, innovation and merger & acquisition to sustain themselves amidst fierce competition. The growth of the market is attributed owing to the high investments in R&D activities by key market players and focus of society towards internet of things (IoT). Moreover, as per Statista, the North American IoT market has grown from USD 140 billion in 2012 to USD 330 billion in 2018. Also, as per the same source, the number of IoT units in Canada in 2013 amounted to 28 million which increased to 114 million units in 2018. Industry 4.0 initiative is mainly adopted across the world as its main objective is to add Internet of things (IOT) to automate the manufacturing and business process and ability of devices, sensors, machines and people to integrate and communicate with each other via Internet of things (IOT).Thus rising adoption of Internet of things (IOT) will generate the demand for IOT integrated services and solutions. The main aim of this initiative named Industry 4.0 is to connect traditional industrial manufacturing to IoT, leveraging digital techniques including big data, advanced analytics, artificial intelligence (AI) and cloud computing. Such factors increase the efficiency of automation process within the industrial sector thereby, aiding the growth of the global public safety sensors market. However, incorporating sensors in devices incurs extra value and reduces the life of device is hampering the growth of the market during the forecast period of 2020-2027.
The regional analysis of global Public Safety Sensors market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region due to the governments of various countries are entering into partnership with companies to install such technologies in the public places along with the increase in convergence of different technologies, such as internet of things (IoT), artificial intelligence (AI) and big data & analytic. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Baumer Holding Ag
Fibaro Group S.A.
Rockwell Automation Inc.
Texas Instruments Incorporated
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Sensor Type:
Acoustic Wave Sensor
Indoor & Outdoor Gunshot Detector
Car Crash Detection
Infrastructure Failure Detectors
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Public Safety Sensors Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers