According to Data Bridge Market Research new Market report, global industrial sensor market will account to an estimated USD 15.80 billion in 2018 growing at a CAGR of 6.23% during the forecast period of 2019 to 2026.
Global Industrial Sensor Market
Industrial sensors are a type of monitoring and detection device/equipment that react to some kind of action or input from the surroundings such as, change in temperature, flow of liquids, movements and various other phenomenon. These devices detect this information and transfer it to other electronic devices that are capable of receiving this information and transforming it into output that can be visually interpreted.
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Segmentation: Global Industrial Sensor Market
Global industrial sensor market is segmented on the basis of type, application and geography.
By Sensor (Level Sensor, Temperature Sensor, Flow Sensor, Position Sensor, Pressure Sensor, Force Sensor, Humidity & Moisture Sensor, Image Sensor, Gas Sensor), Type (Contact, Noncontact), Application (Manufacturing, Oil & Gas, Chemicals, Pharmaceuticals, Energy & Power, Mining) and Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
FACTORS DRIVING GROWTH IN INDUSTRIAL SENSOR MARKET
Increase in innovation and collaborations resulting in advancements
- In December 2017, for its industrial automation customers, Rockwell Automation, launched a new line of proximity sensor, Allen-Bradley Bulletin 871FM miniature, metal, flat-pack, inductive proximity sensors are rugged, smart sensors.
- In May 2017, Rockwell Automation has been selected by Metso for delivering global industrial Internet of Things (IIoT) platform which helps in connecting, monitoring, and performing analytics for Metso’s equipment and services, which would result in improved efficiency and profitability for its mining and aggregates customers.
Key Market Competitors: Global Industrial Sensor Market
Few of the major competitors currently working in the industrial sensor market are Rockwell Automation, Honeywell, Texas Instruments, Panasonic, Stmicroelectronics, First Sensor, Siemens, Amphenol Corporation, Integrated Device Technology, Bosch Sensortec, Te Connectivity, Omega Engineering, Sensirion, AMS AG, Microchip, NXP Semiconductors, Endress+Hauser Management AG, Teledyne Technologies Incorporated, Figaro Engineering Inc. and Safran Colibrys SA.
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