The latest report by IMARC Group, titled “Industrial Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027″The global industrial sensors market is expected to exhibit a CAGR of 9.1% during 2022-2027.
Industrial sensors are electronic devices that detect environmental changes and provide corresponding outputs and signals. They sense physical input, such as pressure, heat, light, voltage, moisture, and pressure, and respond by generating an output on the display screen for transmitting the information for further processing. Industrial sensors are widely used to measure, detect, and sense changes in the temperature, position, electrical current, and multiple parameters of industrial equipment. They aid in accelerating production processes, ensuring accurate positioning of mechanical components, increasing productivity, and providing feedback regarding their operational condition.
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Industrial Sensors Market Trends:
The growing need for industrial automation across the globe is creating a positive outlook for the market. Industrial sensors are widely used to achieve increased productivity, higher accuracy, lower labor costs, and reduced energy usage. In line with this, the widespread product adoption to measure physical, chemical, or biological quantities with accuracy and repeatability is favoring the market growth. Apart from this, various advancements in technology, such as the integration of artificial intelligence (AI) and the Internet of Things (IoT)-enabled smart sensors that help monitor and predict machine breakdowns, are providing an impetus to the market growth.
Moreover, the increasing product demand in various industries to monitor plant assets, improve workplace safety, maximize output, and run equipment fault diagnostics is propelling the market growth. Other factors, including the widespread adoption of image sensors, extensive research and development (R&D) activities, and the introduction of industrial sensors with on-chip processing, real-time decision making, and signal processing capabilities, are anticipated to drive the market toward growth. On account of the aforementioned factors, the market is expected to reach US$ 34.87 Billion by 2027, exhibiting a CAGR of 9.10% during 2022-2027.
Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- ABB Ltd.
- Amphenol Corporation
- ams AG
- Bosch Sensortec GmbH (Robert Bosch GmbH)
- Honeywell International Inc.
- NXP Semiconductors N.V.
- Omega Engineering Inc. (Spectris Plc)
- Panasonic Corporation
- Renesas Electronics Corporation
- Rockwell Automation
- Siemens AG
- TE Connectivity Ltd.
- Texas Instruments Incorporated.
The report has segmented the market on the basis on region, sensor, type and end-use industry.
Breakup by Sensor:
- Level Sensor
- Temperature Sensor
- Flow Sensor
- Position Sensor
- Pressure Sensor
- Force Sensor
- Image Sensor
- Gas Sensor
Breakup by Type:
Breakup by End-Use Industry:
- Mining, Oil and Gas
- Energy and Power
- Water and Wastewater Treatment
- Aerospace and Defense
Breakup by Region:
- North America:( United States, Canada)
- Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico,Others)
- Middle East and Africa
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
Scope and Methodology
Value Chain Analysis
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