PUBLISHER: Grand View Research | PRODUCT CODE: 1363083
PUBLISHER: Grand View Research | PRODUCT CODE: 1363083
The global shock sensor market size is expected to reach USD 4,216.6 million by 2030, growing at a CAGR of 21.0% from 2023 to 2030, according to a new report by Grand View Research, Inc.. Shock sensors detect a movement or acceleration and convert this physical change into electrical signals, providing accurate alarms for shocks. The growing demand to detect sudden vibrations across industries drives the market's growth.
Various industries across the globe are adopting shock sensors for various uses. For instance, the shipping and transportation industry is adopting shock sensors to manage and control the damage to shipping containers and assets inside them. These industries are leveraging shock sensors with GPS tracking capacity to prevent and track their assets simultaneously.
The growing integration of IoT technology with shock sensors is creating a significant growth opportunity in the market. IoT technology, along with AI, is anticipated to provide shock sensor users with real-time updates, predictive analysis, and precise monitoring capabilities, thus allowing immediate response. The proactive monitoring approach, along with data-driven decision making is driving the segment's growth.
The COVID-19 pandemic adversely impacted the shock sensors market. Global shutdowns and lockdowns lead to supply chain disruption and several delays in component production. The adversities of the pandemic, along with a lack of investments, slowed down the market's innovation and research & development. However, the market is anticipated to slowly recover and launch new innovative shock sensors with advanced technologies over the forecast period.