Industrial Sensors Market Size was valued at USD 22.99 billion in 2022, and is expected to reach USD 47.52 billion by 2030, and grow at a CAGR of 9.5% over the forecast period 2023-2030.
Industrial sensors are important components used in instrument measurement and data acquisition. These sensor devices provide output signals in relation to the input physical quantity. There are different types of sensors that are ready to serve different purposes in all industries. With the use of these sensors and sensory technology, industries are reaping many benefits such as increased accuracy, faster data transfer, improved asset life, and improved process control. Includes benefits such as forecasting and maintenance prevention. The growing demand for smart devices that are designed using sensors and technology has created a huge demand for the industrial sensory market. In addition, the Industrial 4.0 revolution has introduced sensory technology that can respond to growing industry demand. The types of sensors most commonly used in automation are pressure sensors, temperature sensors, infrared sensors, proximity sensors, and more. These play an important role in making production automated and intelligent.
Get more information on Industrial Sensors Market - Request Sample Report
KEY DRIVERS:
Manufacturing is increasingly embracing Industry 4.0 and IIoT.
Industrial sensors are becoming more technologically advanced.
Demand for smart sensor-enabled wearable devices is increasing.
RESTRAINTS:
Sensor networks have a high installation cost.
Competitive pricing has resulted in a drop in average selling prices.
OPPORTUNITIES:
Automobile manufacturers are increasing their demand for smart sensors to provide improved safety and comfort.
Market participants will benefit from predictive maintenance.
CHALLENGES:
Precise performance demands from next-generation advanced/technological sensors.
COVID-19 has had a severe impact on the global economy as well as all industries. To stop the plague from spreading, governments in several countries have established borders. The initial phase of the epidemic's global shutdown in many countries has had a significant influence on people's lives and quality of life. As a result, the global supply chain has been shattered. The global economy has shrunk as commodity demand has decreased considerably. Due to the outbreak, which has caused a lack of immature materials, production in all industries has been slowed. Productivity declines are caused by variables such as depreciation and supply chain disruption.
The outbreak of the COVID-19 epidemic has had a devastating effect on the global economy as it has affected various sectors, such as BFSI and IT & telecom, significantly. The epidemic has led to the use of travel restrictions in many countries around the world, which has led to disruptions in the supply of goods and materials and market demand. In addition, restrictions on trade, closure of production sites, declining productivity, cash flow barriers, and the unavailability of staff have led to a reduction in participants' cash flow restrictions on the global market. The virus mainly affected SMEs, but larger organizations also had a greater impact. COVID-19 has also had an impact on the industrial sensory market worldwide. Lack of supply and efficiency of low fabrication, the shelf-life of materials increases, which increases the price of raw materials. Distribution challenges, such as staff recruitment, the need for direct distribution, and smart and responsive distribution of assets to different distribution channels. In addition, the increased use of electronic components in modern production has an impact on consumer markets due to the closure of production units.
By Sensor Type, the industrial sensors market is subdivided into Position Sensors, Gas Sensors, Pressure Sensors, Level Sensors, Temperature Sensors, Humidity & Moisture Sensors, Flow Sensors, Image Sensors, and Force Sensors. Among all of these, the level sensor market was forecasted to hold the largest market size. A level sensor is used to detect and measure fluid levels, bulk solids, and other fluids. The level measurement continues even if it is a value point. The need for a level sensor arises from a variety of factors, such as the need for accuracy, appearance, response rate; easy to measure instruments; metal size; monitoring, and controlling continuous or point levels.
By Type, the industrial sensors market is subdivided into contact and non-contact. The contact sensor market is projected to account for the largest share of the entire Industrial sensory market. contact level sensors include physical contact between the device and the media. The technologies used for the level sensor are the magnetoresistive, vibratory probe, hydrostatic, magnetic float, pneumatic, rotating paddle, resistive chain, and weight and chain. Some of the most common types of contact type sensors are temperature sensors, pressure sensors, force sensors, flow sensors, etc.
By Industry, the industrial sensors market is subdivided into process and discrete. Among them, the discrete sector includes; electronics, automotive, aerospace and defense, and consumer goods. The process sector includes; oil and gas, chemical, mining, energy and power, food and beverages, and pharmaceuticals. Discrete industries hold a large market share due to the rapidly growing automotive and electronics industries around the world. With the help of industrial sensors, manufacturers can monitor the operation of the machine and receive early warnings about confusing potential or problems to deal with on an ongoing basis.
The process industry is expected to be the fastest-growing segment due to the increased reception of gas sensors, chemical sensors, flow sensors, and level sensors, among others, in oil and gas, chemicals, mining, and other industries.
BY SENSOR TYPE
Position Sensors
Pressure Sensors
Flow Sensors
Image Sensors
Force Sensors
BY TYPE
Contact
Non-contact
BY INDUSTRY
Process
Discrete
.png)
Get Customized Report as per your Business Requirement - Request For Customized Report
The industrial sensory market is divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Asia-Pacific is likely to be the leading regional market due to the growing industrial sector combined with the increase in the presence of small and medium enterprises (SMEs) in developed countries in the region like China, Japan, India, and others. Increased demand for sensory in manufacturing, automotive, and pharmaceutical manufacturing has increased the demand for industrial nerves. The North American region is expected to produce a moderate growth rate during the forecast period due to the increased use of IoT devices and communication networks in the energy and manufacturing industries. In addition, the massive demand for industrial sensors in the automotive, packaging, oil and gas, textiles, and healthcare industries of changing applications has pushed sales into the market. The European region has contributed to the market growth due to increased industrial sensitivity in the manufacturing, automotive, and pharmaceutical sectors. In addition, the Middle East region of Africa and South America is expected to be influenced by the increasing adoption of automated industrial sensors.
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 the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The key players in the Industrial sensor market are Honeywell International, Rockwell Automation, Texas Instruments, Panasonic Corporation, TE Connectivity, Amphenol Corporation, Bosch Sensortec, STMicroelectronics, Siemens, Dwyer Instruments & Other Players.
Rockwell Automation-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 22.99 Billion |
| Market Size by 2030 | US$ 47.52 Billion |
| CAGR | CAGR of 9.5% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| 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 (Position Sensors, Gas Sensors, Pressure Sensors, Level Sensors, Temperature Sensors, Humidity & Moisture Sensors, Flow Sensors, Image Sensors, Force Sensors) • By Type (Contact, Non-Contact) • By Industry (Process, Discrete) |
| 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 the Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Honeywell International, Rockwell Automation, Texas Instruments, Panasonic Corporation, TE Connectivity, Amphenol Corporation, Bosch Sensortec, STMicroelectronics, Siemens, Dwyer Instruments, and other players. |
| Key Drivers | • Manufacturing is increasingly embracing Industry 4.0 and IIoT. • Industrial sensors are becoming more technologically advanced. • Demand for smart sensor-enabled wearable devices is increasing. |
| Restraints | • Sensor networks have a high installation cost. • Competitive pricing has resulted in a drop in average selling prices. |
The market value will be expected to reach USD 39 billion by 2028, and grow at a CAGR of 9.5% over the forecast period 2022-2028.
The market has been segmented with respect to sensor type, type and industry.
Sensor networks have a high installation cost, and Competitive pricing has resulted in a drop in average selling prices.
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. Industrial Sensors Market Segmentation, by sensor type
8.1Introduction
8.2 Position Sensors
8.3 Gas Sensors
8.4 Pressure Sensors
8.5 Level Sensors
8.6 Temperature Sensors
8.7 Humidity & Moisture Sensors
8.8 Flow Sensors
8.9 Image Sensors
8.10 Force Sensors
9. Industrial Sensors Market Segmentation, by type
9.1 Introduction
9.2 Contact
9.3 Non-contact
10. Industrial Sensors Market Segmentation, by industry
10.1 Introduction
10.2 Process
10.3 Discrete
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12.Company Profiles
12.1 STMicroelectronics
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Honeywell International
12.3 Rockwell Automation
12.4 Texas Instruments
12.5 Panasonic Corporation
12.6 TE Connectivity
12.7 Amphenol Corporation
12.8 Bosch Sensortec
12.9 Siemens
12.10 Dwyer Instruments
12.11 Other
13.Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
14.Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
USB Devices Market Size was valued at USD 27.18 billion in 2022 and is expected to reach USD 55.78 billion by 2030 and grow at a CAGR of 9.4% over the forecast period 2023-2030.
The Automated Sortation System Market size was valued at USD 8.7 billion in 2023 and is expected to grow to USD 15.36 billion by 2031 and grow at a CAGR of 7.3% over the forecast period of 2024-2031.
The Quantum Sensors Market size was valued at USD 260.2 Million in 2022 and is expected to grow to USD 882.90 Million by 2030 and grow at a CAGR of 16.2% over the forecast period of 2023-2030.
The Underfloor Heating Market Size was valued at USD 4.90 billion in 2022, and is expected to reach USD 8.94 billion by 2030, and grow at a CAGR of 7.8% over the forecast period 2023-2030.
The Warehouse Automation Market Size was valued at USD 16.25 billion in 2023 and is expected to reach USD 53.01 billion by 2031 and grow at a CAGR of 15.93% over the forecast period 2024-2031.
The DC-DC converter Market Size was valued at USD 11.02 billion in 2022 and is expected to reach USD 28.28 billion by 2030 and grow at a CAGR of 12.5% over the forecast period 2023-2030.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
