Report Scope & Overview:
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.
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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.
Sensor networks have a high installation cost.
Competitive pricing has resulted in a drop in average selling prices.
Automobile manufacturers are increasing their demand for smart sensors to provide improved safety and comfort.
Market participants will benefit from predictive maintenance.
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, 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
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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.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of the Middle East & Africa
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
|Market Size in 2022
|US$ 22.99 Billion
|Market Size by 2030
|US$ 47.52 Billion
|CAGR of 9.5% From 2023 to 2030
|Report Scope & Coverage
|Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
|• 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)
|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)
|Honeywell International, Rockwell Automation, Texas Instruments, Panasonic Corporation, TE Connectivity, Amphenol Corporation, Bosch Sensortec, STMicroelectronics, Siemens, Dwyer Instruments, and other players.
|• 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.
|• 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
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
220.127.116.11 United Kingdom
18.104.22.168 South Korea
22.214.171.124 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
8.2 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
10. Industrial Sensors Market Segmentation, by industry
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
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
12.10 Dwyer Instruments
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
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