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The Industry
Economic Significance
Sensor and measurement technologies have attained crucial significance in practical all areas of modern life – from industrial production plants to private homes. There is hardly a field of industry without electronic measurement, testing, or monitoring: automotive engineering, construction, life sciences, and the entertainment or aerospace industry.
The high demands on these technologies and their products continue to increase, so that we can talk about a growth industry for the next decades. Statistical projections assume that there are about 800 manufactures of industrial measuring systems in Germany. These enterprises as well as the import agencies of sensor products manufactured abroad have an annual turnover of between 22 to 25 billion euros. Moreover, there are 2,000 to 2,500 businesses and institutes dealing with sensor technology as manufactures, suppliers, retailers, service providers, or consultants. They have 230,000 employees directly involved in measuring technology, i.e. without counting peripheral equipment or activities, which generate 25 to 30 billion euros.
Based on widely differing definitions, professional market researchers estimate a global market potential of 70 to 120 billion US dollars. About 35 to 40% of the German sensor system production is directly exported. If we add indirect exports, depending on the respective machine, system, or product quota, we get an overall export quota of 60 to 70%.
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