The global shock sensors market size is projected to reach USD 1.73 billion by 2025, according to Million Insights. The market is expected to grow with the 17.2% CAGR above the forecast period, from 2019 to 2025. The growing adoption of shock sensors in oil and gas activities and electronic devices such as ATMs, burglars alarm, safety helmets, bank vaults and laptops is projected to drive the market growth during the forecast period. The growing number of smart city projects across various countries is anticipated to further propel the product demand in the next few years.
Shock sensors have affordable prices and compact in size. These attributes of sensors are encouraging the manufacturers to install in various electronic devices. They are also implanted inside homes and cars in which any forced entry triggers the alarm. They are also user friendly; user can easily track and operate alarm performance by using smartphones or laptops. These above mentioned factors are expected to surge product demand across the globe, especially in developing regions.
Moreover, the shock sensors are majorly used in sports helmet and also install in mouth guards to record impact whenever players are injured. Hence, these sensors play an important role to determine the nature of the injury and help to doctor for treating them with the best course of medicines. The data accesses by these sensors are shared with smart devices which help to offer medical assistance immediately. For example, a Washington-based company, i1Biometrics produces different types of shock sensors for sports helmets to render timely assistance.
Shock sensors help to protect shipping goods from the risk of damages during transportation, thereby expected to drive the market growth during the projected period. In Africa, Alaska and Asia Pacific the demand for shock sensors is increasing due to the significant growth of oil and gas exploration operations. In the oil and gas industry these sensors are used for wide applications, as it rugged and can bear harsh environments along with the high temperature.
The shock sensor market players are focusing on investing in R&D activities and developing technologically advanced shock sensors in order to sustain in a competitive market. In addition, the manufacturers are offering several add on services like software analytics and maintenance to measure shocks. This factor is expected to help manufactures to gain a maximum customer base in the next few years.
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Further key findings from the report suggest:
• Aerospace segment is projected to grow with the fastest CAGR during the forecast period due to rising usage of shock sensors in recording and monitoring vibrations in critical situations.
• Among types, strain gauge segment is projected to grow with highest CAGR over the forecast period due to rising adoption of these sensors as primary sensors.
• Asia Pacific is expected to generate around USD 545.6 million by the end of 2025 due to growth of aerospace and defence sector budgets in developing countries.
• Climax Technology Co. Ltd.; Dytran Instruments Inc.; Meggitt SA; Spotsee; Murata Manufacturing Co., Ltd.; i1Biometrics SignalQuest, LLC; Mobitron AB; PCB Piezotronics Inc.; Honeywell International, Inc.; TE Connectivity and IMI Sensors are the key players operating in this market.
Million Insights has segmented the global shock sensors market on the basis of type, material, end-use and region:
Shock Sensors Type Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
• Strain Gage
Shock Sensors Material Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
• Gallium Phosphate
Shock Sensors End-Use Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
• Consumer Electronics
Shock Sensors Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa