Assignment is about learning industry profitability, size, growth, and characteristics, competitive landscape etc.

Analysis of Secondary Research Data

In present days the demand for sensors is increasing due to technological improvements and it generally reduces the overall cost and time and provides the business organization higher competitive advantages in the operating market.  Majority of business organizations and the factories are looking forward to automation technology to increase the number of products as well as financial position (Gong & Wasserman, 2019).  The sensors generally detect and indicate the physical quantities such as Light, motion, pressure, heat etc. and that provide triggers based on requirements.  The expected current value of the sensor market is 16 billion USD and the current market size of this industry is huge and it will reach 21.6 Billion USD by 2023.  The demand of Infra-red sensor is increasing all over the world that generally detects infrared radiation emitting from the objects (Alliedmarketresearch, 2019).  It generally used to identify the characteristics of its surroundings for that reason it generally used in binoculars, night vision cameras and another security purpose. There are different organizations such as Honeywell, NIT (New Infrared Technologies), Monarch, Vigo system, Infratech, Melexis etc. are now manufacturing infrared motion sensors and distributes the sensors all over the world.  The number of competitors is very high but due to high demand, the organizations are able to maintain their sales volume effectively.    

According to the secondary research, it has been identified that Pacific Asia, North America, Latin America, Europe, Middle East and Africa has a major demand for this device. The price of this device depends on its quality, building materials and powers.  3D integrated service and micro electro mechanical system generally reduce power consumptions as well as the cost of sensors (Gong & Wasserman, 2019). According to the global industry analysis the global infrared sensor industry is segmented into various market industries such as consumer electronics, Aerospace industry, Automotive, mining, defence, pharmaceuticals, oil and gas industries etc. for that reason the market demand is increasing day by day and the market grew in a high CAGR due to the increase of demand of this sensor.    

From the above chart, it has been recorded that the demand of Infrared sensor is high in Middle East Region and the demand of this sensor will increase in future but the growth will reduce in Asia Pacific region (Techsciresearch, 2019).  The growth of the IR market will also increase in South America but will remain the same in North America. That means it generally indicates the overall growth all over the world.  The growth rate of Infrared detector market is 11.44% and total market size was 391.946 million USD in 2018.    

There are different strength and weakness of this industry and increasing the use of IR detectors in the manufacturing industry is the main strength of this industry.  The smaller size, lower cost and high reliability are the main strength of this industry (Prnewswire, 2019).  Availability of this sensor in the market is very low and lack of proper distribution is the main weakness of this industry. At the same time, the entrance of new upgraded technology at low cost as a substitute product can reduce the growth rate of this industry.  For that reason, the technological advancements in the emerging countries can provide this industry with various upcoming opportunities (Alliedmarketresearch, 2019).  The number of competitors is also increasing for that reason the organization needs to use upgrade marketing strategies and communication to increase the overall sales volume as well as organizational financial positions. Apart from that, Proper distribution, quality product is important to gain more competitive advantages in the operating market.  The higher public demand of this sensor will grow the market further leads to capture maximum market share in the overall sensor industry.    

Related :-

Q Emotional Intelligence Assignment describes that it is important for the UAE institutions to create awareness for Emotional Intelligence concept enable UAE organizations gain merits

Q Criminal behavior – Chicago city theory Assignment describes about Chicago School of criminology and social disorganization or the Anomie and Strain Theory for Criminal behavior in Chicago city

Q ECON 310 Global Managerial Economics-Discuss the current accounts This assignment is for ECON 310 Global Managerial Economics represents the net alteration in the title of foreign assets and financial instruments transactions.

Q The Data Link Layer Assignment describes the Open System Interconnection (OSI) model, Data Link Layer is it referred to “Layer 2”, and is responsible for the transmission of data

Q Strategies of Health Promotion and Societal Awareness Assignments describes about the various levels of health promotion (primary, secondary, tertiary) levels of prevention help determine educational needs

Q Smart Grid Networks Assignment is focused on the current security issues in smart grids, along with some proposed solution & on the architecture of a smart grid system

Q Plan for improving the hospitality services in a Restaurant Assignment describes that Fine restaurant do fall in the food & beverage sector of the hospitality industry the services in offer will include food service

Q Import Substitution Industrialization. Assignment describes about ISI which is the policy related to trade and economy which suggests to replace the foreign imports with the domestic products

Q Issues faced by the children regarding obesity Assignment describes that with increased consumption of the fast food items, it is observed that children are suffering from the problems of Obesity.

Q Domestic violence Assignment describes the rise in religious fundamentalism, or shift in economic power in most countries leading to increased domestic violence