Recently, market research firm ElectroNICast predicted that the market will grow from $1.89 billion in 2013 to $4.33 billion in 2018, with an average annual growth rate of 18%
In recent years, the Internet of Things has developed rapidly in the Chinese market, further drivingsensorThe demand for products has increased. The domestic sensor industry has also entered a golden period of development.
According to Hong Kong's Wande News Agency, the China Academy of Electronic Information Industry Development predicts that the domestic sensor market will experience a compound annual growth rate of 31% in the next five years. The sensor markets in the automotive, logistics, coal mine safety supervision, security, and RFID tag card fields will grow rapidly. The growth rate of the security sensor market will synchronize with the output value growth rate of the security industry, with an average annual growth rate of 20% in China's security industry during the 12th Five Year Plan; RFID tag cards have entered the market development period, with an average annual growth rate of around 21% in the next 5 years.
Recently, market research firm ElectroNICast predicted that the market will grow from $1.89 billion in 2013 to $4.33 billion in 2018, with an average annual growth rate of 18. It is expected that the military/aviation/security application industries will maintain their leading position in the use of continuous distributed fiber optic sensors in 2014, followed by the petrochemical/energy sector. It is expected that the use of continuous fiber optic sensors in structural health monitoring in the civil engineering/construction industry, as well as in bridges, tunnels, water towers, and other structures, will also experience strong growth.
At present, sensors are increasingly being applied in various fields of social development and human life, such as industrial automation, agricultural modernization, aerospace technology, military engineering, robotics technology, resource development, ocean exploration, environmental monitoring, security, medical diagnosis, transportation, household appliances, etc. Analysis shows that by 2015, the overall market size of China's Internet of Things will reach 750 billion yuan, and the sensor industry will directly benefit from it. Driven by the significant growth of the Internet of Things market, the size of China's sensor market is expected to reach over 120 billion yuan in 2015.
With the rapid development of the Internet of Things, the domestic sensor industry has also ushered in a golden period of development. With the support of policies, China's sensor technology and industry have also made significant progress. Currently, there are many enterprises engaged in the production and research and development of sensors in China.

---------Source: Industrial Electrical Network