Global Industrial Sensor Market Segmentation, By Type (Contact, Noncontact), Sensor Type (Level Sensor, Temperature Sensor, Flow Sensor, Position Sensor, Pressure Sensor, Force Sensor, Humidity and Moisture Sensor, Image Sensor, Gas Sensor), Technology (Micro-Electro-Mechanical Systems (MEMS) Technology, Complementary Metal Oxide Semiconductor (CMOS) Technology), End User (Manufacturing, Oil and Gas, Chemicals, Pharmaceuticals, Energy and Power, Mining)-Industry Trends and Forecast to 2031
Industrial Sensor Market Analysis
Industry 4.0 and automation rely heavily on industrial sensors. Industrial sensors provide excellent precision, low labour costs, lower energy use, and higher production. Industrial sensors in automation systems provide high precision, higher productivity, lower labor costs, and lower energy consumption. Furthermore, various government efforts, such as South Korea's 'Manufacturing Innovation 3.0' and Japan's 'Industry Value Chain Initiative,' encourage the use of robotics and smart factories.
Industrial Sensor Market Size
Global industrial sensor market size was valued at USD 24.75 billion in 2023 and is projected to reach USD 51.52 billion by 2031, with a CAGR of 9.6% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Industrial Sensor Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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Rockwell Automation, Inc. (US), Honeywell International Inc. (US), Texas Instruments Incorporated (US), Panasonic Corporation (Japan), STMicroelectronics (Switzerland), First Sensor AG (Germany), Siemens (US), Amphenol Advanced Sensors (US), Renesas Electronics Corporation (Japan), Bosch Sensortec GmbH (Germany), TE Connectivity (Switzerland), OMEGA Engineering (US), Sensirion AG Switzerland (Switzerland), ams AG (Austria), Microchip Technology Inc. (US), NXP Semiconductors (Netherlands), Endress+Hauser Group Services AG (Switzerland), Teledyne Digital Imaging Inc. (Canada), Figaro Engineering Inc. (Japan), and Safran Colibrys SA (Switzerland).
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Market Opportunities
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Industrial Sensor Market Definition
Industrial sensors play a critical role in the industry's highly technological processes. Sensors are devices that convert physical stimuli into electrical signals, which are then used by the operating system to evaluate the production process and make choices. Industrial sensors aid in the routing and management of complicated operations, particularly in the manufacturing environment.
Industrial Senso Market Dynamics
Drivers
Major factors that are expected to boost the growth of the industrial sensor market in the forecast period are as follows:
- Rise in the adoption of Industry 4.0 and IIoT in manufacturing
The industrial 4.0 revolution has already begun, and the advantages of implementing new disruptive technologies are becoming increasingly apparent in today's businesses which will further accelerate the growth market growth.
- Rise in the adoption of wireless connectivity in manufacturing units
Sensors in industrial applications rely on wireless connection for the most part. The manufacturing facilities' battery-powered wireless sensors and nodes may readily scale to hundreds of sensing points per site which is further anticipated to propel the growth of the market.
- Increase in the adoption of sensing technology in the process industry
In the process sector, industrial sensors are used to detect and report certain features relating to the safety, health, and security of equipment will further accelerate the growth of the industrial sensor market.
Opportunities
In addition, growing demand from automobile manufacturers to deliver enhanced safety and comfort for smart sensors is further estimated to provide potential opportunities for the growth of the industrial sensor market in the coming years.
Restraints/Challenges Global Industrial Sensor Market
On the other hand, the increased installation cost of sensor networks is further projected to impede the growth of the industrial sensor market in the targeted period. However, the accurate performance requirements from upcoming advanced/technologically sensors might further challenge the growth of the industrial sensor market in the near future.
This industrial sensor market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the industrial sensor market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Industrial Sensor Market
The pandemic of COVID-19 has had a huge impact on the industrial sensor market. As a result of the start of COVID-19, many ongoing or new projects across the oil and gas value chain were confronting numerous challenges in terms of project execution, planning, and risk management. The main source of concern in the renewable energy industry was global supply chains, which were drastically decreasing output to save money on new monitoring systems and sensors. However, in the post-COVID scenario, industrial sensor market is projected to be significantly impacted.
Industrial Sensor Market Scope
The industrial sensor market is segmented on the basis of type, sensor type, technology and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Contact
- Noncontact
Sensor Type
- Level Sensor
- Temperature Sensor
- Flow Sensor, Position Sensor
- Pressure Sensor
- Force Sensor
- Humidity and Moisture Sensor
- Image Sensor
- Gas Sensor
Technology
- Micro-Electro-Mechanical Systems (MEMS) Technology
- Complementary Metal Oxide Semiconductor (CMOS) Technology
End User
- Manufacturing
- Oil and Gas
- Chemicals
- Pharmaceuticals
- Energy and Power
- Mining
Industrial Sensor Market Regional Analysis
The industrial sensor market is analysed and market size insights and trends are provided by country, type, sensor type, technology and end user as referenced above.
The countries covered in the industrial sensor market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).
Asia-Pacific dominates the industrial sensor market due to the sturdy occurrence presence of large number of manufacturing base in the advancing countries. Furthermore, the rise in the coal production will further boost the growth of the industrial sensor market in the region during the forecast period.
North America is projected to observe significant amount of growth in the industrial sensor market due to the rise in the investment in technology. Moreover, the growing adoption of the technology is further anticipated to propel the growth of the industrial sensor market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Industrial Sensor Market Share
The industrial sensor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to industrial sensor market.
Industrial Sensor Market Leaders Operating in the Market Are:
- Rockwell Automation, Inc. (US)
- Honeywell International Inc. (US)
- Texas Instruments Incorporated (US)
- Panasonic Corporation (Japan)
- STMicroelectronics (Switzerland)
- First Sensor AG (Germany)
- Siemens (US)
- Amphenol Advanced Sensors (US)
- Renesas Electronics Corporation (Japan)
- Bosch Sensortec GmbH (Germany)
- TE Connectivity (Switzerland)
- OMEGA Engineering (US)
- Sensirion AG Switzerland (Switzerland)
- ams AG (Austria)
- Microchip Technology Inc. (US)
- NXP Semiconductors (Netherlands)
- Endress+Hauser Group Services AG (Switzerland)
- Teledyne Digital Imaging Inc. (Canada)
- Figaro Engineering Inc. (Japan)
- Safran Colibrys SA (Switzerland)
Latest Developments in Industrial Sensor Market
- In May 2020, STMicroelectronics introduced the VL53L3CX, a multi-object range time-of-flight sensor for next-generation industrial and consumer electronics applications
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