The global industrial sensors market size is expected to reach USD 38.82 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to increasing demand for sensors across different industrial verticals, including chemicals, manufacturing, oil & gas, pharmaceuticals, mining, and energy & power to maximize operational efficiency of automated equipment. Improved asset tracking and remote monitoring abilities of sensors have increased their demand across different industrial verticals. Increasing utilization of various industrial sensors such as temperature sensors, image sensor, position sensors, and humidity and moisture sensors to ensure monitoring and transparency of assets throughout the supply chain is expected to drive growth of the industrial sensors market during the forecast period.
The Industrial Sensors market report focuses on the economic developments and consumer spending trends across different countries for the forecast period 2020 to 2028. The research further reveals which countries and regions will have a better standing in the years to come. Apart from this, the study talks about the growth rate, market share as well as the recent developments in the Industrial Sensors industry worldwide. Besides, the special mention of major market players adds importance to the overall market study.
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Some Key Highlights From the Report
In January 2019, Rockwell Automation announced the latest addition to the smart sensing portfolio which is the new Allen-Bradley 42AF Right Sight M30 photoelectric sensor from Rockwell Automation. The high-performance sensor offers long-distance detection and increased environmental tolerance for industries such as material handling, food and beverage, and packaging.
Pressure sensor segment accounted for largest revenue share in 2020. Pressure sensors are widely utilized across various industrial verticals which includes chemical, military, energy, and manufacturing due to its reliability and high performance in any harsh environmental conditions.
Manufacturing segment revenue is expected to expand at a rapid CAGR during the forecast period. Increasing initiatives across the manufacturing industry and shift towards automation and away from traditional manufacturing and industrial activities with the help of modern smart technologies is expected to drive demand for industrial sensors in the manufacturing sector.
Asia Pacific accounted for largest revenue share contribution to the global industrial sensors market in 2020. Increasing initiatives of governments regarding technological advancements in the manufacturing sector in the region to enhance productivity is contributing to further and rapid developments across the manufacturing industry and resulting in increasing adoption of industrial sensors.
Key players in the market include Rockwell Automation, Honeywell International Inc., Texas Instruments, Panasonic Corporation, STMicroelectronics, Siemens AG, Amphenol Corporation, Bosch Sensortec, TE Connectivity, and Omega Engineering.
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Sensor Outlook (Revenue, USD Billion; 2018–2028)
Humidity and Moisture Sensor
End-use Outlook (Revenue, USD Billion; 2018–2028)
Oil & Gas
Energy & Power
Key questions answered in the report
What will be the market size in terms of value and volume in the next five years?
Which segment is currently leading the market?
In which region will the market find its highest growth?
Which players will take the lead in the market?
What are the key drivers and restraints of the market’s growth?
The report segments the Industrial Sensors market on the basis of geography, end-user, end-use, product application, type, share, growth rate and size to reveal where the industry will be in the coming years. The researchers assessing the industry have included the details about the recent decisions and events such acquisition and mergers, collaborations, product launch and investments. Important decisions connected with such events come handy for business owners when positioning their brands in the global market and finalizing the marketing strategies.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Industrial Sensors Market Segmentation & Impact Analysis
4.1. Industrial Sensors Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
188.8.131.52. Stringent environmental regulations
184.108.40.206. Rising need to reduce bacterial or algal contamination in water systems
220.127.116.11. Increasing demand for biocides for municipal water treatment
4.2.3. Market restraints analysis
18.104.22.168. Fluctuating prices of raw material
22.214.171.124. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Industrial Sensors Market By Application Insights & Trends, Revenue (USD Million), Volume (Kilo Tons)
Chapter 6. Industrial Sensors Market By Product type Insights & Trends Revenue (USD Million), Volume (Kilo Tons)
Chapter 7. Industrial Sensors Market Regional Outlook
Chapter 8. Competitive Landscape