Press release
Thin-film Sensors Market– Growth Opportunities & Technology Developments by 2025
The objectives of this study are as follows:
To define, describe, and forecast the "Thin-film Sensors" market by type, application, component, delivery model, end user, and region
To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
To forecast the market size of market segments with respect to the four key regions: North America, Europe, Asia, and the Rest of the World (RoW)
To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
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Thin-film technology is technology of applying a very thin film of material between a few nanometers to about hundreds of micrometers, or even the thickness of a few atoms on a “substrate” surface that is to be coated. Thin-film Sensors refers to sensors containing films that are less than 5 micrometer. The layer of material could range from fractions of nanometer to several micrometers. This technology is based upon self-organizational structure. The main purpose of thin-film sensors is to enhance surface uniformity and reduction in the amount of light absorbed. Due to their small size and light weight they require very small amount of raw material. Thin-film technology based sensors are used for medical purposes such as implantation and encapsulation are biodegradable. They are capable of protecting environment, support in medical diagnosis and life support systems, help in automating laboratory and industrial operations and provide better safety features.
With rising demand for biological sensors to test blood glucose levels for a quickly growing population of diabetics, the thin-film sensors market is flourishing. There are several advantages of using thin-film sensors such as it can do measurement for every position in the system, the system is independent of coating, quick response time and the reliability of the tool is unaffected. Also, increase in application areas of thin film technology such as military and consumer electronics is driving market growth. Increased popularity of portable, wearable, and flexible devices and the ongoing miniaturization trend is expected to provide growth opportunities for the thin-film sensors market. However, thin-film sensors are difficult to repair due to small size which is hindering market growth. Thus, thin-film sensors market is expected to witness significant growth during the forecast period due to highly flexible design, simple fabrication process and good adhesion features.
The global thin-film sensors market is categorized on the basis of sensor type, application, end use and geographic regions. Segmentation on the basis of sensor type includes thin film temperature sensors, thin film photo sensors, thin film chemical sensors and thin film pressure sensors. Thin-film sensors market by application is categorized into environmental cleanup, industrial process control, emission monitoring and home and workplace safety. Segmentation on the basis of end use comprises automotive, instrumentation, military, consumer electronics, aeronautics, healthcare, industrial process, energy and others. The thin-film sensors market has been studied for five geographic regions namely North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Among major end-use segments, healthcare sector is expected to lead the global thin-film sensors market followed by military segment during the forecast period because of simple fabrication and high flexibility. Thin-film sensors find diverse application in healthcare sector such as orthopedic plants and micro encapsulation due to small size and good process control capabilities. By application, industrial process control is forecasted to hold most of the market share because thin-film sensors can be used at high temperatures and harsh environment. Advancement in thin-film technology and advanced analytics likely to foster the demand for thin-film sensors. North America is predicted to be major revenue shareholder due to presence major market players, technological innovations and relatively mature market for automotive industry and industrial process. Europe is expected to be the second major revenue holder due to adoption of thin film technology in digital marketing platform and application of thin-film technology in marine, industrial, and offshore industries while Asia Pacific region is expected to have fastest growth rate.
The key players of the global thin-film sensors market are Honeywell Sensing and Control, Heraeus Sensor Technology, Measurement Specialties, Madison Company, Innovative Sensor Technology, Temperature Specialists, Inc., Sensing Devices, Inc., United Electric Controls, Strain Measurement Devices, Vishay, Gems Sensors & Controls, AMETEK Sensors and Fluid Management Systems, Custom Sensors & Technologies (CST), Baumer Group, and ARKRAY among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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