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Sensor Technologies Ride Piggy Back on the Outstanding Growth of the Southeast Asian Economy - The economic boom in Southeast Asia has given sensor manufacturers in the region many reasons to cheer
Sensor Technologies Ride Piggy Back on the Outstanding Growth of the Southeast Asian Economy

 

NewswireToday - /newswire/ - Singapore, Singapore, 2008/11/07 - The economic boom in Southeast Asia has given sensor manufacturers in the region many reasons to cheer.

   
 
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They have been engaged in frantic R&D activity in line with end-user industries’ increased spending power, which has translated into greater demand for high-quality sensors for process control and monitoring.

New analysis from Frost & Sullivan (sensors.frost.com), Analysis of the Southeast Asian Sensors Market, finds that the market earned revenues of $266.6 million in 2007 and estimates this to reach $605.0 million in 2014.

While myriads of sensors are available for use in diverse applications such as electronics, process industries, as well as building and home automation, traditional sensors (pressure, temperature, level, and flow) still dominate in many industries in most Southeast Asian countries. Significantly, the sales revenue in the Southeast Asian region has been increasing year-on-year, making it a key geographic segment in the global sensors market.

The market’s prospects look bright, especially with the growth rate of the oil and gas industry expected to remain high. This is because the escalating prices of crude oil will necessitate greater investments in refineries and oil exploration and consequently, generate higher demand for sensors for high-precision monitoring equipment. The expansion of end-user segments such as automotive and consumer electronics is also expected to similarly affect the sensors market.

To keep pace with these advances in the end-user segments, sensor companies need to upgrade their production lines. The global sensors market has made some rapid strides technologically; however, the Southeast Asian market has to cover a lot of ground to catch up.

The good news is that investments in R&D are set to rise due to the interest shown by foreign participants. By channeling these resources to the development of new technologies and improvement of existing processes, manufacturers can not only enhance sensors’ performances but also offer the products at lower prices to gain a competitive edge.

“Technological progress has opened up new application areas for sensors, while more efficient production, commoditization, and larger manufacturing capacity are pushing down prices of sensors,” says Frost & Sullivan Research Analyst Sriram Venkatasubramanian. “The multi-variable or multi-functional sensor, a single device that can measure many physical quantities, is gaining traction in the market.

Meanwhile, close partnerships among different parties along the value chain have become common due to the need to develop new standards and protocols for emerging technologies such as wireless. While Japan, the United States, and Europe have been quick to adopt these novel technologies, the Southeast Asian countries, barring Singapore and Malaysia, have been reluctant to make the shift from traditional sensing methods.

Suppliers need to encourage end users in Indonesia, Thailand, Vietnam, and the Philippines to overcome their conservatism and implement advanced monitoring technologies.

“The suppliers need to create awareness about the numerous advantages of new monitoring technologies,” notes Venkatasubramanian. “Since web sales are still in the emerging stages, large-scale foreign suppliers have to accelerate their marketing efforts to educate end users in Southeast Asia.”

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the Southeast Asian sensors market, then send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.

Analysis of the Southeast Asian Sensors Market is part of the Sensors & Instrumentation Growth Partnership Service program, which also includes research in the following markets: Asia Pacific sensor network industry and sensor applications in consumer electronics. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting, and Growth Team Membership™ empower clients to create a growth-focused culture that generates, evaluates, and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.

Analysis of the Southeast Asian Sensors Market
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Sensor Technologies Ride Piggy Back on the Outstanding Growth of the Southeast Asian Economy

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Publisher Contact: Donna Jeremiah 
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