Industrial Sensors Market is valued at USD 21.69 Billion in 2021 and is expected to reach USD 41.20 Billion by 2028 with a CAGR of 9.6% over the forecast period.
Global Industrial Sensors Market Global Size, Trends, Competitive, Historical & Forecast Analysis to 2022-2028, Increasing trend of internet of things & industry 4.0 and rising adoption of wireless connectivity in manufacturing units and growing use of sensing technology in the process industry are anticipated to drive the growth of Global Industrial Sensors Market.
Industrial sensors are gadgets that can identify changes in the climate and give resulting signals or outputs. They can check input like light, pressure, heat, voltage, temperature, dampness and movement, and create an output on the display screen for communicating the data for additional handling. Some of the commonly used modern sensors incorporate velocity, proximity, inductive, capacitive, photoelectric, magnetic and ultrasonic sensors. They are fundamental for machine automation as they help in guaranteeing precise positioning of mechanical parts and giving input with respect to their functional contingent. Therefore, these sensors track down broad applications across different businesses, like oil and gas, power generation, fabricating, medical care, water and wastewater therapy, mining and chemicals. In its most basic form, an industrial automation sensor is an input device that outputs a signal in relation to a physical quantity (input). Modern plants make use of a variety of sensors, each with its own design and function. Sensors are used to collect data on the industrial activities and procedures that are being carried out. Sensors are frequently employed to convert a physical stimulus into an electronic signal that the production system can assess and utilize to make choices about the processes being performed. Industrial sensors can assist optimize operations and provide unrivalled asset protection in mission-critical industrial applications. Sensing technology and its varied applications are always changing to keep up with technological breakthroughs and commercial demands.
The Covid-19 pandemic has also impacted the growth of global industrial sensor market. The Covid-19 pandemic has harmed the expansion of a number of businesses, including manufacturing, oil and gas, and many more. The oil and gas sector is a key end-use business for industrial sensors. Many existing or new projects across the oil and gas value chain experienced the significant problems in terms of project execution, planning, and risk management as a result of Covid-19. Due to the pandemic, more than 2000 EPC oil and gas projects in different categories, including LNG, petrochemicals, and oil storage and refineries, have been halted or postponed.
Global industrial sensors market report is segmented on the basis of sensors type, type, end-user and region & country level. Based upon type, global industrial sensors market is classified into contact and non-contact. Based upon sensors type, the market is divided into pressure sensors, position sensors, level sensors, gas sensors, temperature sensors, image sensors, humidity & moisture sensors, flow sensors and force sensors. Based upon end-user, global industrial sensors market is divided into oil & gas, pharmaceuticals, chemicals, manufacturing, mining, energy & power and others.
By Sensor Type:
By End-user Industry:
The regions covered in global industrial sensors market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global industrial sensors is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 21.69 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 41.20 Million|
|Tables, Charts & Figures:||175|
|Industrial Sensors Companies||Rockwell Automation, Honeywell International, Texas Instruments, Panasonic Corporation, STMicroelectronics, TE Connectivity, Siemens, Amphenol Corporation, Dwyer Instruments, Bosch Sensortec, others|
|Segments Covered||By Sensor Type, By Type, By End-user Industry|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
News: Sensata Technologies Announced New $500 Million Share Repurchase Authorization
On January 21th 2022; Sensata Technologies stated that its Board of Directors approved a $500 million ordinary share buyback programme. Sensata's previous ordinary share repurchase programme, which had a $254 million authorization remaining as of December 31, 2021, has been replaced by this one. Sensata's shareholders have already authorized the share repurchase agreements and prospective broker counterparties that will be used to carry out the buyback programme. Sensata Technologies is a prominent industrial technology firm that creates important business insights for clients and end users by developing sensors, sensor-based solutions, including controllers and software, and other mission-critical products.
STMicroelectronics Introduced VL53L3CX with Patented Histogram Algorithms
On May 26th, 2020; STMicroelectronics expanded the abilities of its FlightSense ToF ranging sensors by presenting the VL53L3CX with licensed histogram algorithms that permit estimating distances to various articles just as expanding precision. The VL53L3CX estimates object goes from 2.5cm to 3m, unaffected by the objective color or reflectance, in contrast to traditional infrared sensors. This permits architects to introduce strong new features with their items, for example, empowering occupancy detectors to give mistake free detecting by ignoring unwanted background or forefront articles, or detailing the specific distances to different targets inside the sensor's field-of-view.
DD-Scientific Launched New Miniature Industrial Gas Sensors
On October 30th, 2020; DD-Scientific announced their most up to date range of high performance electrochemical gas sensors. The DceL series gives gas detector manufacturers similar dependability and power of greater sensors in a little package, working with the design of minimized instruments with more prominent functionality. Each of the most usually estimated harmful gases are remembered in the range and for oxygen there is a decision of toxic for reverse compatibility or long life, lead free innovation. DDS a quickly developing sensor manufacture.
Increasing Trend of Internet of Things & Industry 4.0 and Rising Adoption of Wireless Connectivity in Manufacturing Units and Growing Use of Sensing Technology in the Process Industry are Driving the Market Growth
One of the major factors driving the growth of global industrial sensor market is increasing internet of things & industry 4.0. The industrial 4.0 upheaval has as of now started, and the advantages of utilizing new disruptive advancements are increasingly becoming apparent in current industries. Industrial internet of things (IIoT), a subsegment of IoT, is utilized for industrial purposes like assembling and supply chain monitoring and management. The developing utilization of IIoT is relied upon to fuel the demand for sensors in the greater part of the businesses, including car and medical care. Sensor technology, joined with processing power, offers solutions with higher efficiency to clients. Tech giants, like AT&T and Google, are additionally wandering in Industry 4.0 arrangements. For example; in October 2020, DD-Scientific declared the launch of its superior presentation electrochemical gas sensors. The DceL series gives gas detector manufacturers similar reliability and robustness of greater sensors in a little package, working with the plan of reduced instruments with more prominent functionality.
In addition, another major factor supplementing the growth of global industrial sensor market is rising adoption of wireless connectivity in manufacturing units. In industrial applications for the most part depend on wireless connectivity. The battery-fueled remote sensors and nodes in the assembling facilities can easily scale hundreds of sensing points per ability. They reduce of the requirement for specialized or trained people to control or manage processes. As organizations are searching for ways of upgrading their cycles, increment their productivity, lower expenses, and work all the more proficiently, they are distinctly investing into the most recent sensor and networking technologies. Manufacturers are experiencing developing demand for wireless connectivity solutions primarily for production line automation and robotics applications. For example; in May 2021, Viezo declared the launch of the Beta Version of their Sonora wireless autonomous. These sensors are eco-friendly and cost-effective and track down their applications in rail line operators, train manufacturers, industrial organizations, industrial machinery manufacturers.
Furthermore, growing use of sensing technology in the process industry also drives the global industrial sensor market. Development accurate process monitoring combined with protection and predictive resource maintenance is the sole liability of the sensing innovation that is conveyed at process plants. Industrial sensors are utilized to detect and report explicit properties connected with the health, safety, and security of hardware in the process industry. Pressure transmitters or sensors are utilized to measure the pressure of industrial gases and fluids. Steady and accurate estimations guarantee safe, reliable, and reliable of the plant. However, huge installation cost may hamper the global industrial sensor market growth. In spite of that, growing use of smart sensor in several manufacturing industry can provide various opportunities for the further growth of the global industrial sensor market.
Asia Pacific is Expected to Emerge as a Fastest Growing Region in the Global Industrial Sensors Market
The Asia Pacific is predicted to witness the fastest growth in the global industrial sensors market due to the rapid industrialization, growing investment in mining industry and rising number of manufacturing units in this region. Territorial governments are widely investing into approving new mining projects are adding new market opportunities. For example, in June 2020, the Government of China supported two new coal mining projects in the Gansu and Xinjiang territories of China with an absolute investment of USD 566 million. These investments will build the infiltration of very good quality mining equipment in coal fields. Additionally, the area has China, which has the biggest manufacturing output on the planet. The nation is outfitting to develop center innovations, like AI, chips, and sensors, as a part of its more extensive vision to coordinate AI into the manufacturing area. This emphatically influences the industrial sensor market in this region.
North America is projected to capture the largest revenue share in the global industrial sensors market due high technological advancements and presence of key companies in this region. For instance; in February 2021, Petasense reported the launch of its 3-in-1 industrial sensor with vibration, temperature, and speed. The Vibration Sensor (VSx) connects to the Petasense Transmitter to recognize normal disappointments in variable speed, group, or saved resources. Incorporated speed detection inside the VSx permits clients to take estimations just during the predefined speed ranges or when the resource is working.
On Special Requirement Industrial Sensors Market Report is also available for below Regions and Country:
Middle East and Africa
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