Abstract
Mature Markets and Technologies Signal Strong Competitive Dynamics
Manufacturers of temperature sensors and transmitters in North America are
likely to witness moderate growth even though they are challenged by the market
saturation of many technologies that are in the late stages of their life cycle.
Market participants are focusing on driving down costs, as there is a compelling
need for economies of scale, which will provide an edge over competitors. They
are also likely to move toward selling more profitable, sophisticated
technologies such as infrared and integrated circuit sensors as certain segments
are experiencing flat growth.
This Frost & Sullivan research examines the North American temperature
sensors and transmitters markets and the following types of sensor technologies
- infrared, thermocouple, resistance temperature detector (RTD), thermistor,
integrated circuit, and temperature transmitter. The report also provides market
potential analysis of different technologies in many end-user industries that
include chemicals, petrochemicals, oil and gas, food and beverages,
pharmaceuticals, and metals.
Infrared Sensors Promise Significant Growth
Advanced technologies such as infrared sensors are likely to witness
significant growth - in fact, over double the growth rate of the total
temperature sensors market - with a continuous devolution in price. The efforts
of infrared sensor manufacturers to target under-served markets are expected to
widen the existing user base and also open up new sales avenues in many process
control industries. However, end users in process control industries are
reluctant to adopt infrared sensors, as they are unsure about its use/benefits
and the return on investment on equipment price.
"Infrared sensor manufacturers have to redefine technology and their
sales efforts to 'cross the chasm' and overcome the uncertainties prevalent
among end users," says the analyst. "This will enable them to match
specific user needs in each market and thereby, crack the true market potential
in these industries".
Knowledge on Vertical Markets and Broad Product Line - Keys to Market
Success
The economic downturn in North America has resulted in weak capital markets,
tight budgets, lack of demand for new/enhanced products and services, and
diminishing customer confidence. Top market participants are trying to exert
greater control over distribution channels and boost their technological
expertise as they seek new market opportunities to maintain revenue flows.
"Manufacturers should focus on achieving a thorough understanding of
different vertical markets, which will position them as 'solutions providers' to
a wide spectrum of industries and not as just equipment sellers," says the
analyst. "The ability of vendors to maintain a broad product line, focus on
customer service and support, and minimize costs will be critical for market
growth".
View Cart
