Global Factory Automation Sensor Market Overview:
Factory automation sensors play an important role in the manufacture of intelligent and exceptionally automatic products. They are a key part of factory automation. The sensors used in the factory automation involves temperature sensors, pressure sensors, MEMS sensors and torque sensors. These sensors ensure that the various points along the manufacturing line are running smoothly and will continue to do so in the future.
As per latest study released by AMA Research, the Global Factory Automation Sensor market is expected to see growth rate of 6.9%Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Rising Implementation in the Power Sector and Growing Demand from Oil and Gas Industry
Market Growth Drivers:
High Demand for Automation Sensors in Various Industrial Verticals and Increasing Demand for Smart Factories
Challenges:
Limited Awareness about Security
Restraints:
High Initial Investment for Factory Automation
Opportunities:
Increased Automation in the Numerous Industries and Growing Need for Optical Sensors in Medical Applications
Competitive Landscape:
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations.
Some of the key players profiled in the report are Rockwell Automation (United States), Honeywell (United States), Texas Instruments (United States), Panasonic (Japan), STMicroelectronics (Switzerland), ABB Limited (Switzerland), Siemens AG (Germany), Amphenol Corporation (United States), Integrated Device Technology (United States) and Bosch Sensortec (Germany). Additionally, following companies can also be profiled that are part of our coverage like First Sensor (Germany), Analog Device Inc. (United States), General Electric (United States), Vishay Intertechnology, Inc. (United States), NXP Semiconductors NV (Netherlands), Infineon Technologies AG (Germany) and Taiwan Semiconductor Manufacturing Company Limited (Taiwan). Analyst at AMA Research see Global Players to retain maximum share of Global Factory Automation Sensor market by 2030. Considering Market by Distribution Channel, the sub-segment i.e. Online Channel will boost the Factory Automation Sensor market.
Latest Market Insights:
In Jue 2023, Lumotive, a company specializing in Light Control Metasurface (LCM™) beam steering chips for advanced 3D optical sensors, and Hokuyo Automatic Co., Ltd., a worldwide producer of sensor and automation technology, have revealed a multi-year production contract. This partnership will expedite the deployment of essential sensor technology in robotics and autonomous systems applications.
What Can be Explored with the Factory Automation Sensor Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Factory Automation Sensor Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Factory Automation Sensor
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Factory Automation Sensor market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Factory Automation Sensor market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Factory Automation Sensor Manufacturers, Raw MAterial Suppliers, Distributors, Emerging Companies and End-users.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.