From wearable devices that aid digital health monitoring systems to the artificial intelligence of things (AIoT) that enhances human-machine interaction, sensor technology continues to make headway in the technology landscape. In the wake of these trends, the global sensor market, which was valued at $77.16 billion in 2020, is expected to reach $128.56 billion by 2026, registering a CAGR of 8.86 percent, during the period of 2021-2026.
Among the leading sensor technologies driving the market growth, sensor fusion occupies a key position. It offers an accurate environment model by bringing together collective data from multiple sensors like cameras, radars, and LiDARs to enable advanced localisation, mapping, and assistance features.
To put the spotlight on such key developments in the industry, Applied Technology Review illustrates how companies are leveraging the latest developments in sensor technology to augment industrial applications. The edition also features thought leadership articles from Roman Koerner, Head of Device and Technology Development, TRUMPF, Matthew Simms, Business Development Manager, Sensors, Eaton, and Friedrich-Wilhelm Menge, Chief Technology Officer of DFS, who shed light on various trends in the sensor technology space, including the recent developments in advanced 3D sensing applications, the impact of energy transition and digitalisation on automation systems for sensor integration, and innovation in air traffic management.
In this edition of Applied Technology Review, we also bring to you the story of some of the top sensor technology solutions providers in Europe and the UK that deliver the best outcomes for their clients. The list comprises Rohmann GmbH, developer and manufacturer of ECT testing devices and systems for crack detection, testing of heat treatment conditions, material sorting inspection, and grinding burn testing. Other notable companies include Sensor Medica that the healthcare domain virtually reconstruct spine in a radiation-free manner, and trackIT, whose unique Event Recognition Platform enables freight forwarders and shipping companies to accurately monitor the conditions of containers and receive real-time events during transit.
Through the following pages, we aim to shine a light on the innovative trends and latest developments in the sensor technology industry. We would like to know your thoughts.
