PUBLISHER: The Business Research Company | PRODUCT CODE: 1455523
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455523
A shock sensor is a specialized device engineered to identify and react to abrupt movements or impacts. Widely employed in diverse applications for security, safety, and monitoring, these sensors play a crucial role in various systems. In security applications, shock sensors are commonly utilized to detect sudden impacts or vibrations, serving as a trigger for alarms. This functionality is integral in safeguarding vehicles, residences, and valuable assets, enhancing overall security measures.
The primary types of shock sensors include piezoelectric, piezoresistive, capacitors, strain gage, and others. Piezoelectric shock sensors operate by leveraging the piezoelectric effect to detect and measure mechanical shocks or impacts. These devices find application in various scenarios such as tap detection, shipping and handling, automotive security systems, general tamper-proofing, among others. End-users of piezoelectric shock sensors span across diverse industries including automotive, aerospace, industrial, consumer electronics, and more.
The shock sensor market research report is one of a series of new reports from The Business Research Company that provides shock sensor market statistics, including shock sensor industry global market size, regional shares, competitors with a shock sensor market share, detailed shock sensor market segments, market trends and opportunities, and any further data you may need to thrive in the shock sensor industry. This shock sensor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The shock sensor market size has grown exponentially in recent years. It will grow from $0.91 billion in 2023 to $1.12 billion in 2024 at a compound annual growth rate (CAGR) of 23.7%. The growth observed in the historical period can be attributed to several factors, including an escalation in security concerns, the implementation of automotive safety applications, protection measures for consumer electronics, monitoring of industrial equipment, and an increased focus on transportation security. These factors collectively contributed to the heightened demand and adoption of shock sensors during the historic period.
The shock sensor market size is expected to see exponential growth in the next few years. It will grow to $2.43 billion in 2028 at a compound annual growth rate (CAGR) of 21.3%. The anticipated growth in the forecast period can be attributed to the rapid proliferation of IoT devices, a rising demand for home automation solutions, an increased focus on workplace safety, the growth of e-commerce, and the ongoing development of smart cities. Major trends expected in the forecast period encompass the expansion of wearable technology, continuous technological advancements, progress in MEMS (Micro-Electro-Mechanical Systems) technology, an increasing demand in consumer electronics, and the incorporation of shock sensors into industrial machinery. These trends collectively contribute to the evolving landscape and increased adoption of shock sensors in various sectors.
The anticipated growth of the shock sensor market is propelled by the increasing exploration activities in the oil and gas sector. Oil and gas exploration involves the search for and discovery of potential crude oil and natural gas reservoirs beneath the Earth's surface. Shock sensors play a crucial role in this industry by monitoring and detecting seismic vibrations, providing vital data for assessing subsurface structures and identifying potential hydrocarbon reservoirs. As per the Energy Information Administration in May 2023, U.S. crude oil production witnessed a 5.6% growth in 2022 compared to 2021, averaging 11.9 million barrels per day (b/d). This data highlights the substantial contribution of the increasing exploration of oil and gas in driving the growth of the shock sensor market.
Key players in the shock sensor market are strategically focusing on the development of terminal tracker system hardware to gain a competitive edge. Terminal tracker system hardware refers to physical components and devices used in a system designed to track and monitor endpoints or terminals in various applications. Identec Solutions AG, an Austria-based company providing wireless tracking solutions, upgraded its terminal tracker system with the shock sensor VSM400 hardware in July 2023. This hardware is specifically designed to monitor shocks and bumps in vehicles, providing crucial data for terminal operators to enhance operational safety and process efficiency. The VSM400 hardware comes with more durable components, adjustable sensitivity, and compatibility with Identec Solutions' older shock sensor, facilitating seamless retrofitting or expansion of existing systems. Moreover, it functions as a compass, offering essential data to the vehicle monitoring service in a terminal tracker environment.
In August 2022, PPT Group, a Canada-based industrial company, made an undisclosed acquisition of Lansmont Corporation. This strategic move enhances PPT Group's position in the sensor market, particularly in shock sensors, and provides opportunities to offer innovative and high-value-added sensor solutions. Lansmont Corporation, a U.S.-based manufacturer specializing in shock and vibration measurement and testing technology, contributes to the overall capabilities and offerings of PPT Group in the shock sensor market.
Major companies operating in the shock sensor market report are Honeywell International Inc., TE Connectivity, STMicroelectronics N.V., Murata Manufacturing Co., Ltd., Emerson Electric Co., Analog Devices Inc., Omron Corporation, Meggitt SA, Silicon Laboratories Inc., MTS System Corp., Kistler Group, LORD MicroStrain, MEMSIC Inc, Bosch Sensortec, Spotsee, MEMSIC Inc., Kionix Inc., Dytran Instruments Inc, FlexEnable Limited, PCB Piezotronics Inc, Interlink Electronics, Inc., Climax Technology Co., Ltd., Mobitron AB, DJB Instruments UK Ltd., Tekscan Inc., SignalQuest LLC
North America was the largest region in the shock sensor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shock sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the shock sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The shock sensor market consists of sales of accelerometers, spring-mass systems, memsic sensors, and optical sensors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Shock Sensor Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on shock sensor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for shock sensor ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The shock sensor market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.