NATICK, MA -- Global shipments of electronic pressure transmitters and transducers are forecast to increase from $US 5.6 billion in 2008 to $US 7.1 billion in 2013, according to recent research from VDC Research Group, covering process pressure transmitters and non-process pressure transducers and transmitters.
Of the two markets VDC researched, non-process pressure transducers and transmitters will experience the fastest growth over the next five years, with a compound annual growth rate (CAGR) 6.3%.
According to Jim Taylor, a Director at VDC Research, "The market for multivariable-type electronic pressure sensors is expected to grow due to the advantages that are offered in terms of size reduction, space-saving, and less weight. Choosing a multivariable type sensor is likely to be most beneficial where there are several sensors at the same location that can be replaced with multi-variable units."
VDC found that medical applications will have the fastest-growing worldwide market for electronic pressure sensors through 2013. A major portion of the medical application market is to suppliers who package these as disposable-invasive blood pressure monitors and catheters.
It was found that the market for process pressure transmitters will grow through 2013 at a CAGR of 2.5%. Lead analyst on VDC's study, Chaitanya Ravula, notes that, "There is an increasing trend toward smart electronic pressure transmitters due to the high demand for digital networking. Customers are increasingly switching to digital measuring devices from analog devices as they offer remote diagnostic capabilities, self calibration, and lower costs for wiring, operation and maintenance."
About VDC Research Group
VDC Research Group (VDC) is a technology market research and strategy consulting firm that advises clients in a number of technology markets including: automatic identification and data collection, embedded hardware and systems, embedded software and tools, industrial automation and control, mobile and wireless, and power conversion and control. Using rigorous primary research and analysis techniques, the firm helps its clients identify, plan for, and capitalize on current and emerging market opportunities. We strive to deliver exceptional value to our clients by leveraging the considerable technical, operational, educational and professional experience of our research and consulting staff. During our nearly four decades of ongoing operation, we have had the pleasure of serving most of the world's leading technology companies, many high-profile start-ups, and numerous blue-chip early and later stage investors. Our products and services consist of research reports, annual research programs, and custom research and consulting services. Founded in 1971, the firm is located in the Boston area.