As the demand to measure greater amounts of information within our environments as does the demand for electronic sensors. To remain competitive, small to medium size enterprises (SME’s) sensor manufacturers must continually review their product and service offerings in order to remain key partners to their customers. A distinctive advantage that SME manufacturers have over larger companies is their ability to be flexible and respond to variations in product specifications and customer requirements. Decision making in large multinational companies is often a slow and regulated process whereas SME’s can make decisions within hours rather than weeks.
SST Sensing Ltd has identified this as a very desirable service to their customers and was very much so the focus of their business strategy for growth over the last few years. They invest heavily to ensure they offer high specification and reliable products but have combined this with comprehensive technical, customer service and logistical support. SST can see the encouraging influence this business approach has had on sales revenues over the years, with 2011 seeing a whopping 92% increase compared to 2010. 2012/13 seen only a slight decrease despite the destructive effect of the economic recession in the UK manufacturing industry. And at the end of our 2013/14 financial year, SST Sensing Ltd reported they were at the top of their game again with a turnover of £3.67 million, resulting in a 22% increase on the previous financial year.
SST witnessed a steady and continuous growth over the years in the number of customers buying their products and their end of 2013/14 year report supports this by confirming a 22% increase.
The future for SST is to execute their business strategy in markets where they have little presence but where there is countless opportunity. With this in mind, the US Sensor Industry is one market SST have yet to embrace with masses of potential for substantial growth. Market research analysts within the Freedonia Group report that US sales of sensors are forecast to climb at a 6.1% annual rate through to 2016 to $14.9 billion in industrial, military/aerospace, automotive, electronics and information technology markets. Having knowing this, gives SST the encouragement to source an established US sales partner capable to implement their business strategy within the US Sensor Industry, and the confidence to know that if all can be achieved there is potential for enormous growth.