Global Electric Field Sensor Market was valued at US$ xx Mn in 2019 is expected to reach US$ xx Mn by the end of 2026 at a CAGR of 6.1% from 2020 to 2026.
Electric field, an electric property associated with each point in space when the charge is present in any form. The adoption of electric field sensors in the automobile, agricultural, and healthcare segments among other industries is increasing as these sectors are showing exponential growth over the coming years. Rising awareness towards safety features there is high demand for electric field sensors for the health and safety protection of inspection staff in high-voltage environments.
Global Electric Field Sensor Market Dynamics:
Favorable Government Policies for Large Scale Integration and Rise in Demand for Electric Field Sensors in Defense Industry to Drive Electric Field Sensor
The rising budget expenditure on military and defense sectors because of geographical tension between neighboring countries for instance, increasing threats from both China and Pakistan and emerging security challenges, India’s is more focusing spending more investing on defense. In addition, the US and Russia are more adopting new technologies and focusing more on research development has created many lucrative opportunities for the key player operating in this market.
Biometric system technology is mostly used for identification and access control, as well as for identifying people who are being watched. Biometric authentication is based on the idea that everyone can be accurately identified based on their physical or behavioural characteristics. Biometric authentication is becoming more popular in corporate and public security systems, as well as consumer electronics and point-of-sale (POS) applications. In military and defense for homeland security, an electric field sensor is used to track the threat from opponents via radar.
Electric field sensors offer many advantages over other sensors such as wide-range, having good stability, cost effectiveness, ability to detect non-metallic, and metallic and objects, high speed frequencies, potential, and field strength monitor for cloud-to-ground (CG) lightning discharges are supporting the market growth. In addition, other advantages such as reliable, and accurate measurements of high voltage power line management, process control on industrial devices, meteorology as well as rising preference designers across various industries are driving the market.
The report has profiled twenty five key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analysis and report has come up with recommendations for a future hot spot in the North America. Major country’s policies about manufacturing and their impact on Electric Field Sensor demand are covered in the report.
Global Electric Field Sensor Market Segment Analysis
Global Electric Field Sensor Market
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The Household Electronics segment is expected grow at a CAGR of xx% during the forecast period.
Based on the application, in 2019, the Household Electronics segment has a market share of XX percent, and it is expected to hit USD XX Mn by 2026. Indian appliance and consumer electronics (ACE) market reached Rs. 76,400 crore (US$ 10.93 billion) in 2019. Appliances and consumer electronics industry is expected to double to reach Rs. 1.48 lakh crore (US$ 21.18 billion) by 2025. According to the Retailers Association of India (RAI), sales of consumer electronics increased by 2% in September 2020 and 8% in October 2020, as compared with the same months in the last year. During the forecast period, the global Electric Field Sensor industry trends are fueled by the increasing usages and production of renewable resources, new power production projects, and ageing electrical equipment infrastructure.
Global Electric Field Sensor Market Regional Insights:
Global Electric Field Sensor Market 1
North American to witness high market growth rate and is expected to grow at a CAGR of xx% by 2026
The North American market for Electric Field Sensor is expected to grow at a faster pace than the rest of the world by 2026. Dynamic growth patterns in the global real estate sector, as well as the urge for global industrialization and commercialization, are all key growth potential for the market value. During the forecast period, the market expected to boost by an upward trend in infrastructure development, fueled by an ever-increasing intake of large investments from both the private and public sectors.
The market growth in the Asia-Pacific region, are projected to rise at the fastest rates in terms of revenue. Countries like China and India. On November 11, 2020, Union Cabinet approved the Production-Linked Incentive (PLI) scheme in 10 key sectors (including electronics and white goods) to boost India’s manufacturing capabilities, exports and promote the ‘Atmanirbhar Bharat’ initiative. Growing awareness, easier access, and changing lifestyles have been the key growth drivers for the consumer market. The government of India's policies and regulatory frameworks, such as relaxation of license rules and approval of 51% Foreign Direct Investment (FDI) in multi-brand and 100% in single-brand retail, are some of the major growth drivers for the consumer market. According to the Department for Promotion of Industry and Internal Trade (DPIIT), from April 2000-September 2020, FDI inflow in the electronics sector stood at US$ 2.94 billion.
Attention towards renewable energy sources, rising modernization has led to increasing electrification especially in developing countries as a result many governments are taking initiatives to replace traditional electrification system by modern grid system which is supported by favorable government regulations for large scale integration are propelling the market growth during the forecast period. Rising implementation of smart grid technology is expected to have a positive impact on the electric field sensor market industry forward significantly. New infrastructure, as well as the need for grid infrastructure repair, seems to have a strong impact on the market, and it is projected that the industry will continue to grow, fueled by sustainable energy networks and increasing customer demand for smart monitoring devices.
The objective of the report is to present a comprehensive analysis of the global Electric Field Sensor market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Electric Field Sensor market dynamics, structure by analyzing the market segments and project the global Electric Field Sensor market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Electric Field Sensor market make the report investor’s guide.
Global Electric Field Sensor Market Scope: Inquire before buying
Global Electric Field Sensor Market 2
Global Electric Field Sensor Market, by Region
• North America
• Europe
• Middle East Africa
• Asia Pacific
• South America
Global Electric Field Sensor Market Key Players
• Honeywell
• Omron
• Senix Corporation
• Murata
• 3M
• Schneider Electric
• Multicomp
• Crossmatch Technologies
• NEC Corporation
• Infineon Technologies
• Safran
• Pise Biometrics
• Fulcrum Biometrics
• Zkteco
• Prowave
• Rockwell Automation
• Gems Sensors
• Banner Engineering
• Other key players
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