Intelligent Sensing Market Sees Growth on the Horizon
Analysts at Business Communications Co. Inc. in Norwalk, Conn., predicted growth in the market for all intelligent sensing systems. Burgeoning trade in vision chips, electronic noses and artificial tongues will drive the total sales for the industry to $43 million by 2003. An annual average growth rate of 14.3 percent is expected over the next three years. The study concluded that the market has endless possibilities but that in general it requires technological advancements to become viable.
Trade in electronic noses was $14 million in 1998; it is forecast to grow annually at 7.4 percent to $20 million in 2003. The artificial tongue sector, now in its inception, will reach $2 million. Sales of vision chips will rise to $21 million from $8 million in 1998, at an annual average rate of 21.3 percent.
Quality control and process monitoring in industrial inspection will remain the primary applications for the technologies. Biometric-based security systems promise growth in the vision chip sector, as do environmental sensing applications for noses.
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