Product Development Has Been the Key Strategy Adopted by the Market Players to Grow in the Gas Sensors Market The gas sensors market is highly competitive with the presence of many established and emerging players. This market is expected to grow at a CAGR of 6.83% during the forecast period. Product development has been the key strategy adopted by the market players to grow in the gas sensors market. This strategy accounted for a share of ~57% of the overall growth strategies adopted by the market players between October 2013 and May 2017. The rising demand for gas sensors for various applications has encouraged companies to adopt this strategy. Besides product launches, companies have also adopted the strategies of acquisition, partnerships, expansions, and agreements to expand their business operations, product portfolio, and distribution network as well as strengthen their position and share in this market. ams AG. (US) is one of the leading manufacturers of gas sensors. The company is involved in the design and production of sensors, sensors interfaces, power management ICs, and wireless ICs. The company offers a strong product portfolio; it provides a range of environmental gas sensors for monitoring indoor air quality, detecting volatile organic compounds, carbon dioxide, and hydrogen in various applications such as consumer appliance, automotive, building technology, and consumer and industrial. Recently, the company has launched only a few products; however, the company’s product portfolio is increasing rapidly due to a number of acquisitions. The company’s technological portfolio is enhanced with the addition of technologies such as MEMS for gas sensors. In July 2017, ams AG expanded manufacturing facility in Singapore to meet the growing demand for sensor solutions. It will help ams AG meet the growing demand for advanced sensor solutions that are used in mobile applications. The company plans to invest in differentiating technologies, equipment, and employees in this region. https://www.marketsandmarkets.com/PressReleases/gas-sensor.asp Figaro Engineering Inc. (Japan) is one of the leading manufacturers of gas sensors. The company offers an exhaustive product portfolio of gas sensors. It offers gas sensors for almost all gas types. The company mainly offers sensors based on electrochemical, MOS, and catalytic sensing technologies. It offers sensor products for a wide range of gases including combustible, toxic, and refrigerant gases. Figaro also manufactures electronic products such as detectors and analyzers that utilize gas sensing products. Recently, the company launched a sensor based on MEMS-based technology. The company has more than 40 patents worldwide. The company’s strategy focuses on two areas-patent rights and protection of know-how. The company serves a number of industry verticals such as domestic safety, industrial health and safety, air quality control, automotive, and application control and measurement. In April 2016, Figaro Engineering launched an ultra-compact electrochemical CO gas sensor. The CO gas sensor is useful in space-limited equipment, such as portable CO detectors and fire alarms, and is greatly enhanced. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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