Study projects world market for artificial sensing
OCTOBER 17, 2007--According to a new technical market-research report from BCC Research (Wellesley, MA, USA), the world market for artificial sensing was worth $6,657 million in 2003.
OCTOBER 17, 2007--According to a new technical market-research report, Artificial Sensing: Technologies and Emerging Markets—IAS021A, from BCC Research (Wellesley, MA, USA; www.bccresearch.com), the world market for artificial sensing (AI) applications was worth $6,657 million in 2003 and will be $14,374 million by the end of 2007. With a compound annual growth rate (CAGR) of 5.0%, this figure will grow to approximately $18,347 by 2012.
The market is broken down into applications of commercial and medical artificial sensing and AI or logic-enhanced systems and security artificial sensing applications. Of these sectors, commercial and medical applications maintain roughly 59% of the market throughout the forecast period—-the highest share of the market. Commercial and medical artificial sensing applications will reach about $8.7 billion in 2007, increasing at a CAGR of 4.6% to $10.9 billion by 2012.
AI and security applications will be worth about $5.7 billion in 2007 and will grow at a CAGR of 5.6% to about $7.5 billion by 2012. Security applications for artificial sensing are by far the most commercialized of the artificial sensing categories. In part, the more robust commercialization is driven by the global intensity given to travel security needs following the terrorist acts of September 11, 2001, and other incidents around the world. Although drug and explosive-sniffing dogs are still used in some places, chemical sniffers and other artificial-sensing-driven technology tools are by far more prevalent in airports, courthouses, and other high-security locations.
Although research-driven applications are slow to commercialize, they have the potential to accelerate more rapidly if any category finds a new market niche. One example of such an application is touch feedback devices for the computer gaming industry. This is an emerging application that has caught consumer interest, and, as the technology matures, natural market competition is expected to increase the market saturation of touch feedback peripherals.