Increasing occurrences across globe is foraying ahead of earthquake sensor market growth over forecast period
The earthquake sensors are increasingly being adopted owing to the surge in earthquake occurrences worldwide. As per USGS, Earthquake Hazards Program, the number of earthquakes in the magnitude of 5-5.9 globally were recorded to be around 1,574 in 2014, which further increased to 1,674 in 2018. Also, earthquakes in the magnitude of 6–6.9 were recorded to be 104 in 2017 that hiked up to 117 in 2018. Moreover, the estimated number of deaths due to all earthquakes across the globe were around 756 in 2014. These figures surged to 9,624 in 2015. Hence, such high instances of earthquakes continuously calls for the adoption of earthquake sensors that, in turn, drives the earthquake sensors market growth over the forecast period. Moreover, strong demand of seismic sensors from military sector is also fueling the earthquake sensors market growth till 2028.
Earthquake Sensor Market: Introduction
Earthquake sensors are majorly used for the purpose of sensing the seismic waves generated by earthquake. The earthquake sensor identifies various types of seismic waves including compressional, transverse, love and Rayleigh. These sensors are widely used across civil and military purposes. Inertial seismometers and strainmeters are used majorly to detect any changes under the ground surface. The global earthquake sensor market is expected to witness a single digit CAGR over the forecast period, 2018-2028. The advent of smart sensors has been identified as one of the key trends that is supplementing the global earthquake sensor market growth. Smart seismic sensors are gaining heavy attention in the earthquake sensor market. These sensors are directly incorporated into machinery and other heavy equipment as they tend to stop the running operations after detecting seismic vibration. Therefore, strong demand for smart sensors across military and commercial applications is positively influencing the earthquake sensor market growth. Moreover, high occurrences of earthquakes is increasing the instances of terrorism coupled with strong demand from military and technological advancements in the sensor technology, which are some of the factors providing traction to the earthquake sensor market growth.
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Segmentation analysis of Earthquake sensor Market
The global Earthquake sensor market is bifurcated into three major segments that are type, category and application.
On the basis of type, the global earthquake sensor market is divided into:
Seismometer
Accelerometer
On the basis of category, the global earthquake sensor market is divided into:
Short period
Intermediate period
Long period
On the basis of application, the global earthquake sensor market is divided into:
Military
Civil
Others
Based on region, the global earthquake sensor market is segmented as:
North America
Latin America
Europe
East Asia
South Asia
Oceania
MEA
Earthquake sensor Market: Regional Outlook
The global Earthquake sensor market is segmented into seven regions: North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA. Among the above-mentioned regions, East Asia and South Asia are amongst the regions holding a majority of the market share under the global earthquake sensor market in 2018 owing to the fact that most of the countries here fall in active seismic area. In addition, advancements in the sensor systems coupled with presence of major key players also drives the East Asia and South Asia earthquake sensor market. Europe is projected to showcase moderate growth in the global earthquake sensor market. Moreover, East Asia and South Asia are expected to register lucrative growth till 2028 owing to increasing occurrences of earthquakes, strong demand from the militaries of India, China, Japan and others. Increasing construction activities coupled with significant instances of terrorism also positively supplements the regional growth till 2028.
Key players of Earthquake sensor Market
Prominent players in the global earthquake sensor market are QMI Manufacturing Inc., Exensor Technology, Northrop Grumman, Textron Systems, DJB Instruments, Colibrys SA, McQ Inc., Ferranti Technologies Ltd. etc. The earthquake sensor market consists of well-diversified global and regional players with global vendors ruling the market.
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The research report presents a comprehensive assessment of the Earthquake sensor market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Earthquake sensor market report provides analysis and information, according to market segments such as geographies, type and application.
The Earthquake sensor Market Report Covers Exhaustive Analysis On:
Market Segments
Market Dynamics
Market Size & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
The Earthquake sensor Market Regional Analysis Includes:
North America (U.S., Canada)
Latin America (Mexico, Brazil, Argentina, Chile, Peru)
Europe (UK, Germany, Spain, France, RoE)
East Asia
South Asia
Oceania
MEA
The Earthquake sensor report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Earthquake sensor report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Earthquake sensor report also maps the qualitative impact of various market factors on market segments and geographies.
The Earthquake sensor Market Report Highlights:
A Detailed overview of the parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint
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