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Industrial Sensors Market

Industrial Sensors Market Size, Share & Segment 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), By Regions And Global Forecast 2022-2028

Report Id: SNS/SEMI/1880 | June 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The Industrial Sensors Market Size was valued at USD 21 billion in 2021, and is expected to reach USD 39 billion by 2028, and grow at a CAGR of 9.5% over the forecast period 2022-2028.

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.

Industrial Sensors Market Revenue Graph

MARKET DYNAMICS:

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.

IMPACT OF COVID-19: 

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, and 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 materials increase, which increases the price of raw materials. Distribution challenges, such as staff recruitment, the need for direct distribution, 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 this, 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 level.

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 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, discrete sector includes; electronics, automotive, aerospace and defense and consumer goods. 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 increased reception of gas sensors, chemical sensors, flow sensors, and level sensors, among others, in oil and gas, chemicals, mining and other industries.

COMPETITIVE LANDSCAPE:

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 and Other.

MARKET SEGMENTATION:

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

Industrial Sensors Market Segment Pie Chart

REGIONAL ANALYSIS:

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 increased use of IoT devices and communication networks in the energy and manufacturing industries. In addition, the huge 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 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

    • Canadann

    • 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

 

Industrial Sensors Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 21 Billion
Market Size by 2028 US$ 39 Billion
CAGR CAGR of 9.5% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
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 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.
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.


Frequently Asked Questions (FAQ) :

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

 

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

 

 

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Secondary Research

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