Global Process Automation Market (2013 – 2018) august 2014 | Page 15

A Transmitter is a setup involving a sensor (meter) and, as the name aptly suggests, it is used to measure and transmit data to the computer in the process industry. The measured information is communicated to the computers through transmitters and then a necessary action is triggered, if required. SAMPLE TABLE 1: INSTRUMENTATION AND CONTROLS MARKET REVENUE, BY TYPE (2012 – 2018) ($BN) Type 2012 2013 2014 2015 2016 2017 Pressure Transmitters Flow Transmitters Level Transmitters Temperature Transmitters Speed Sensors Force/Strain Sensors Position Sensors Total XX XX 3.3 XX XX XX 3.57 XX XX XX 3.78 XX XX XX 4.01 XX XX XX 4.25 XX XX XX 4.53 XX XX XX XX 31.5 XX XX XX 33.1 XX XX XX XX XX XX XX XX XX XX XX XX XX XX XX XX 2018 CAGR (%) XX 4.56% XX 7.20% 4.89 6.49% XX 4.30% XX XX XX 42.5 XX XX XX 5.13% Source: IndustryARC Analysis, Expert Interviews, Annual Reports The above table showcases the market growth rates for the different product types in the global process instrumentation and controls market segment. The overall process automation market revenue is expected to increase from around $33.1bn in 2013 to around $42.5bn by 2018, growing at around 5.13% CAGR during the forecast period. The level transmitters market however is expected to increase at a higher rate of 6.49% during this period to reach $4.89bn in 2018 from around $3.57bn in 2013. The proliferation of advanced electronic control systems has provided sensor users with ongoing advances in sensor accuracy, reliability, response time, robustness, miniaturization, communications capability, and efficiencies. The sensor is responsible for converting physical phenomenon into a quantity measurable by a data-acquisition system. Automation equipment is becoming increasingly powerful and specifications are getting even more complex for industrial applications. This calls for more intelligent sensors with high accuracy and fast data transfer- for instance, contactless control systems. Typical application fields for semiconductor sensors are contactless switching, index counting, position detection, current measurement, or pressure detection. IndustryARC | 15