AMA survey: Sensors and measurement technology with stagnating sales
The sensor and measurement technology sector recorded no change in turnover in the third quarter of 2024 compared to the previous quarter, according to an AMA survey. However, turnover fell by ten percent compared to the third quarter of 2023. Incoming orders fell slightly and were two percent below the level of the previous quarter.
The AMA Association for Sensors and Measurement (AMA) has published the results of its quarterly survey of around 450 member companies. In the third quarter of 2024, the industry was unable to generate any sales growth compared to the second quarter. Compared to the same quarter of the previous year, the industry recorded a decline in turnover of ten percent. Incoming orders declined slightly and fell by 2% compared to the previous quarter. The book-to-bill ratio of 1.0 indicates that the economic situation has stabilized at a low level. This ratio between incoming orders and sales shows that the industry has been able to balance demand despite economic challenges.
Difficult conditions for the measurement technology sector
"The results for the third quarter of 2024 reflect the tense economic situation in some of our customer industries," commented Thomas Simmons, Managing Director of the AMA Association, on the figures. "The stagnating sales and slight decline in incoming orders show that the industry remains resilient under the difficult conditions. The stable book-to-bill ratio indicates that sensor and measurement technology remains a reliable partner for user industries, even if they are currently struggling with uncertainties."
Positive signals for the coming quarter
The members of the AMA Association are cautiously optimistic about the coming quarter. In the 2023 forecast for 2024, the industry still hoped that the economic situation would improve again at the end of 2024, as the inventories built up during the coronavirus period had been significantly reduced again. However, the analysis of the figures now shows that we are still dealing with persistently weak sales. "Despite the year-on-year declines, there are positive signals that show that the industry's innovative strength continues to be appreciated," explains Simmons. "The focus on efficiency, precision and sustainability strengthens our position as a key industry in the long term. Trends such as artificial intelligence, automation and new technologies in areas such as alternative energy sources will further increase the demand for innovative sensor technology. However, with an export share of around 48%, sensor and measurement technology remains dependent on stable economic and political conditions." The industry is cautious in view of the economic uncertainties, but remains optimistic that momentum will return in the medium term.