Market Snapshot:
Industrial Sensors are devices that are used to detect events or changes in the environment and provide the corresponding output. These sensors are input devices that provide an output (signal) with respect to a specific physical quantity (input) and are the key part of factory automation and Industry 4.0. As per sources, the sales of industrial robots is estimated to reach 3,788,000 by the end of 2021. The increased adoption of industrial sensors in robots is driving the growth of the market globally. Moreover, the upcoming safety regulations will boost the market growth in the forecast period.
Highlights from Industrial Sensors Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.1% |
The key Players profiled in the report are Rockwell Automation (United States), Honeywell (United States), Texas Instruments (United States), Siemens (Germany), Bosch Sensortec (United States), Panasonic (Japan), STMicroelectronics (Switzerland), Integrated Device Technology (United States), TE Connectivity (Switzerland), Omega Engineering (United States), Microchip (United States) and NXP Semiconductors (Netherlands). Additionally, other players that are part of this comprehensive study are Amphenol Corporation (United States), Figaro Engineering Inc (Japan), Safran Colibrys SA (Switzerland), Teledyne Technologies Incorporated (United States), Ams AG (Austria), Sensirion (Switzerland) and First Sensor (Germany).
Geographic Breakdown and Segment Analysis
The Global Industrial Sensors market presents a comprehensive analysis of the Industrial Sensors market by product type (Contact and Non-Contact), by end-user/application (Robot, Factory Automation, Gaming and Entertainment, Safety and Security and Other), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Industrial Sensors industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Industrial Sensors market
Analyst at AMA have segmented the market study of Global Industrial Sensors market by Type, Application and Region.
Influencing Trend:
Trend For Industrial Robots
Market Growth Drivers:
Increasing Demand For Sensors For Remote Monitoring and Growing Popularity Of Industrial 4.0 & Industrial IoT (IIoT)
Challenges:
Technical Issues And High Costs Associated With Gas Sensors
Restraints:
High Installation Cost Of Sensors
Opportunities:
Wide Adoption Of Industrial Sensors In Automotive Industry and Predictive Maintenance To Offer Lucrative Opportunities To Market Players
Market Developments Activities:
In October 2023, element14 has announced a distribution agreement with Superior Sensor Technology, a pioneer in application-specific pressure sensors for the medical, industrial, and HVAC markets. Engineers are often faced with the challenge of finding customizable pressure sensor systems for their specific applications.
In May 2021, STMicroelectronics launched VL53L3CX, a time-of-flight sensor. This sensor provides multi-object ranging for next-gen industrial and personal electronics applications.
The global industrial sensors industry is highly competitive due to the presence of giant players having strong distribution networks worldwide. The manufacturers are focusing on mergers & acquisitions to improve their market share and overall market position. Product launches, research, and expansion of the existing product portfolio are some of the other strategies that should be considered to gain ground in the market during the assessment period.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Industrial Sensors Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry