Global Isolated Sensing Market: Overview
Isolation means the transfer of power and data between a high and low voltage circuit. Isolated sensing systems prevent the devices from hazardous uncontrolled transient current flowing through the circuits during power and data transportation. These systems are basically designed for bidirectional or unidirectional current monitoring which reduces the power consumption and increase the efficiency. They are widely used for industrial automation due to its high sensing and power saving capabilities. They are also used for various other applications such as microscopy, large displacement systems, optical systems, and many others. They reduce the vibration and transmission of noise from mechanical systems and protect the equipment from damage during seismic activities.
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Global Isolated Sensing Systems Market: Dynamics
The key factors which drive the growth of the global isolated sensing systems market are significantly growing automotive industry along with aerospace industry, owing to increasing demand for isolating voltage sensing in these industries over the forecast period. The macro-economic factor which fuels the growth of the global isolated sensing systems market is the rapidly growing industrialization in emerging countries such as China, Brazil, and India over the forecast period. Robust growth in healthcare and pharmaceuticals industry leads the global isolated sensing systems market towards high growth over the forecast period, attributed to significant usage of isolated sensing systems in medical equipment. Additionally, high innovation in isolated sensing systems along with rapidly growing electrical and electronics industry is the key driving factor for the growth of the global isolated sensing systems market over the forecast period due to the reduction in power consumption and increase the efficiency. Furthermore, the global isolated sensing systems market is driven by significantly growing oil and gas, energy and utilities over the forecast period, owing to high usage of isolated sensing systems for transportation of power and data. However, the key factors such as high safety related to use of the isolated sensing systems as well as high labor cost in the North America hinder the growth of global isolated sensing systems market over the forecast period.
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Global Isolated Sensing Systems Market: Regional Outlook
Among above mentioned end-use industry type, the automotive industry is estimated to see a high growth rate in the global isolated sensing systems market over the forecast period, attributed to growing usage of sensors in automobiles for automation systems. Based on geographies, the global isolated sensing systems market is classified into seven regions such as Western Europe, North America, Eastern Europe, Latin America, Asia Pacific excluding Japan, Japan and the Middle East and Africa. Among above-mentioned regions, North America captures significant value share in the global isolated sensing systems market over the forecast period, owing to the significant usage of satellite sensors for various temperature measurement purposes along with global positioning systems across the region followed by Western Europe. Asia Pacific excluding Japan is anticipated to showcase a significant growth in the global isolated sensing systems market over the forecast period, owing to the significant increase in the usage of electronics based products along with industrial automation in China and India, and rapidly growing healthcare as well as pharmaceuticals industry. Japan is predicted to see a significant CAGR in the global isolated sensing systems market over the forecast period, attribute to high usage of isolated sensing systems for car automation systems across the region.
Global Isolated Sensing Systems Market: Key Players
Few key players of the global isolated sensing systems market are Remote Sensing Systems, Spectris PLC, LORD Corporation, Silicon Sensing Systems Ltd., LEM Holding SA, Schneider Electric SE, Positek Ltd., and Monolithic Power Systems, Inc. In the year 2005, Schneider Electric SE acquired BEI Technologies Inc. to enhance its market position in customized sensors industry.
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