Factory Automation Sensor Market Size was valued at USD 16.3 billion in 2023 and is expected to reach USD 27.34 billion by 2031, and grow at a CAGR of 6.67% over the forecast period 2024-2031.
Sensors are devices that detect and evaluate changes in physical, electrical, or other quantities, as well as record the data. Sensors for factory automation are important in factory automation because they allow workers, engineers, or individuals to collect information about how machines work and perform on their systems. An industrial sensor is a device that detects events or changes in the environment and then outputs relevant data. Factory automation and Industry 4.0 rely heavily on these sensors. Motion sensors, environmental sensors, and vibration sensors are used to monitor the status of equipment ranging from linear or angular positioning, tilt sensing, levelling, and shock or fall detection. They detect physical input such as light, heat, motion, wetness, pressure, or any other entity and respond by displaying or transmitting the information to a computer for further processing. These sensors enable users to detect changes in pressure, temperature, and flow, among other characteristics, allowing them to take the necessary actions to keep the systems running and improve their performance by performing regular maintenance. The Factory Automation Sensor Market Share and Factory Automation Sensor Market Size are expected to grow in the coming years.
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KEY DRIVERS:
The rise in automation.
Increasing demand for smart factories.
RESTRAINTS:
This will be covered under the final version of the report.
OPPORTUNITIES:
Expanding government support.
The incorporation of artificial intelligence
CHALLENGES:
This will be covered under the final version of the report.
The COVID-19 epidemic has hampered the growth of several industries, including manufacturing, oil and gas, and many others. Factory Automation Sensor Industry's primary end-use business is the oil and gas industry. As a result of COVID-19, many ongoing or new projects across the oil and gas value chain are likely to face significant challenges in terms of project execution, planning, and risk management. More than 2000 EPC oil and gas projects in various categories, including LNG, petrochemicals, and oil storage and refineries, have been halted or postponed as a result of the pandemic. Apart from oil and gas and automobiles, several other industries around the world, such as electricity generation and mining, have halted Factory Automation Sensor Market Demand in almost all countries as a result of the pandemic altering the Factory Automation Sensor Market Outlook. This is expected to lower industrial sensor demand and have a significant impact on Factory Automation Sensor Market Revenue over the forecast period.
Based on sensor type, the factory automation sensor market is segmented into Temperature sensors, Vibration sensors, Humidity sensors, Proximity sensors, Pressure sensors, Vision sensors, and Others. Based on application, the factory automation sensor market is segmented into Manufacturing, Automotive, Chemicals, Energy & power, Food & beverages, Oil & gas, Aerospace and defense, Pharmaceuticals, Automotive, Others.
BY SENSOR TYPE
Temperature sensors
Vibration sensors
Humidity sensors
Proximity sensors
Pressure sensors
Vision sensors
Others
BY APPLICATION
Manufacturing
Automotive
Chemicals
Energy & power
Food & beverages
Oil & gas
Aerospace and defense
Pharmaceuticals
Automotive
Others
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North America accounted for the largest market share during the historic forecast period due to the presence of several large multinational corporations operating in the market that offer various sensors for factory automation in the region. North America is experiencing a labour shortage, which is increasing demand for automated processes, lowering labour requirements, and driving the industrial automation sensor market. Because these robots use various sensors to complete jobs, the industrial automation sensors market is being driven by the increasing use of robots in factories for various applications such as packing and labelling, testing, welding, and other testing processes.
The continent of North America is divided into three sections, the United States, Canada, and Mexico. Because of the presence of numerous companies in industries such as manufacturing, food and beverages, chemical, automotive, and others that are automating their processes, the United States accounted for the region's largest market share.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The key players in the factory automation sensor market are Rockwell Automation, Texas Instruments, STMicroelectronics, ABB Limited, Infineon Technologies, Honeywell, Panasonic, Amphenol Corporation, General Electric, and NXP Semiconductors.
STMicroelectronics-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2024 | US$ 16.3 Billion |
| Market Size by 2031 | US$ 27.34 Billion |
| CAGR | CAGR of 6.67 % From 2024 to 2031 |
| Base Year | 2022 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Sensor Type (Temperature Sensors, Vibration Sensors, Humidity Sensors, Proximity Sensors, Pressure Sensors, Vision Sensors, Others) • By Application (Manufacturing, Automotive, Chemicals, Energy & Power, Food & Beverages, Oil & Gas, Aerospace And Defense, Pharmaceuticals, Automotive, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Rockwell Automation, Texas Instruments, STMicroelectronics, ABB Limited, Infineon Technologies, Honeywell, Panasonic, Amphenol Corporation, General Electric, and NXP Semiconductors. |
| Key Drivers | • The rise in automation. • Increasing demand for smart factories. |
| RESTRAINTS | • Expanding government support. • The incorporation of artificial intelligence |
The market size is expected to reach USD 27.34 billion by 2031.
The rise in automation, and Increasing demand for smart factories.
The key players in the factory automation sensor market are Rockwell Automation, Texas Instruments, STMicroelectronics, ABB Limited, Infineon Technologies, Honeywell, Panasonic, Amphenol Corporation, General Electric, and NXP Semiconductors.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Factory Automation Sensor Market Segmentation, by sensor type
8.1Introduction
8.2 Temperature sensors
8.3 Vibration sensors
8.4 Humidity sensors
8.5 Proximity sensors
8.6 Pressure sensors
8.7 Vision sensors
8.8 Others
9. Factory Automation Sensor Market Segmentation, by application
9.1Introduction
9.2 Manufacturing
9.3 Automotive
9.4 Chemicals
9.5 Energy & power
9.6 Food & beverages
9.7 Oil & gas
9.8 Aerospace and defense
9.9 Pharmaceuticals
9.10 Automotive
9.11 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11.Company Profiles
11.1 NXP Semiconductors
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Rockwell Automation
11.3 Texas Instruments
11.4 STMicroelectronics
11.5 ABB Limited
11.6 Infineon Technologies
11.7 Honeywell
11.8 Panasonic
11.9 Amphenol Corporation
11.10 General Electric
12.Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
13.Conclusion
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