Sensors and Measurement Show Moderate Growth
Compared to the previous quarter, the sensor and measurement industry generated two percent more revenue and recorded a growth of two percent in orders incoming for the third quarter. The sensor branch boasts a stable economic development and reports two percent more revenue as well as two percent more orders incoming for the third quarter.
Among the factors for the continual growth of the market is AI (artificial intelligence) besides the digitalization, which will not only affect the economy, but our lives as well. The German government is at present working on an AI strategy, which cannot be implemented without sensor and measuring technology.
“Although the mood in the manufacturing industry has been cautious over the last few months, our member enterprises showed a moderate growth in revenue of two percent compared to the previous quarter,” says Thomas Simmons, AMA general manager. “However, if we compare the results of the third quarter of 2018 with that of the third quarter of 2017, the sensor industry generated a plus of 17 percent.”
According to the AMA Association, the sensor industry looks forward confidently to the fourth quarter, expecting a further growth in turnover of four percent. Thus, the sensors and measurement branch of industry can be considered a stable quantity on the market. The AMA members are banking on the continued digitalization and AI, which will provide new opportunities for the sensor industry.
Positive mood in sensor and measurement industry, despite slump in turnover
The AMA Association for Sensors and Measurement polls its 460 members every quarter as to their economic development. In the second quarter, the AMA members reported a decrease in turnover of four percent compared to the previous quarter. A comparison of the revenue development of the second quarter of 2018 with that of the second quarter of 2017 shows that the sensor industry generated a marked increase in turnover of 13 percent.
Other parameters confirm the overall positive development in sensors and measurement. The AMA members recorded a rise of five percent in orders incoming for the second quarter compared with the results of the previous quarter. This reinforces the expectations in the sector, projecting an upsurge of seven percent for the current third quarter.
“The sensor and measurement sector is doing very well. Such oscillations from one quarter to the next are not unusual. And that’s why this sector expects that the long-term trend of 6.5 percent growth per year will continue,” said AMA general manager Simmons, commenting on the current results. “Digitalization and automation are the topics in industry. Technical systems have to interact more and more with their environments. The solutions are based on innovative developments in sensor, measuring, and testing technology. And that is a good reason for our members to have a positive outlook on the development of the sales markets.”
Sensor and Meaurement with a Clear Increase in Turnover
The AMA Association for Sensors and Measurement polls its 460 members every quarter on the economic development. After a successful result in the previous year with an overall growth of nine percent turnover, the sensor industry again generated a revenue plus of nine percent. Orders incoming for the first quarter were reported to amount to an increase of five percent compared to the results of the previous quarter.
Sensor, measuring, and testing technology thus reflects the development of the German economy, which is presently in a continuous and broad upswing. Full order books, work to capacity, and a record employment rate are to be found in many sectors. Sensors are the brokers between the digital and real world. The intelligent utilization of sensors enables the digitalization and automation of industry – today the most important driver for growth.
“When the industry at large is doing well, sensors and measurement boom. The German economy is growing, that is reflected in the economic development in our branch of industry, which attained an increase in turnover of nine percent in the first quarter of this year,” stated Thomas Simmons, the AMA General Manager, commenting on the Association’s current poll. “It’s only the intelligent application of sensor and measuring technology that enables technical industrial innovation. That’s why we can look forward to a further, continued growth of our sensor industry in this year.”