IMARC Group, a leading market research company, has recently releases report titled “Industrial Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global industrial sensors market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the industrial sensors market?
The global industrial sensors market size reached US$ 22.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 37.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8.97% during 2023-2028.
What are industrial sensors?
Industrial sensors refer to devices that can detect changes in the environment and provide subsequent signals or outputs accordingly. They can gauge inputs, such as light, heat, pressure, temperature, voltage, moisture, motion, etc., and aid in generating a response on the display screen for transmitting the information for processing. Some of the commonly utilized industrial sensors include proximity, inductive, photoelectric, capacitive, magnetic, ultrasonic, velocity, etc. They are critical for machine automation as they help in ensuring the accurate positioning of mechanical components and also provide feedback regarding their operational conditions. As a result, industrial sensors find extensive applications across various sectors, such as oil and gas, manufacturing, power generation, healthcare, etc.
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What are the growth prospects and trends in the industrial sensors industry?
The rising digitization levels across industries and the increasing need for industrial automation are primarily driving the industrial sensors market. Besides this, the growing adoption of wireless devices and the escalating requirement for improved efficiency of industrial units are further catalyzing the market growth. In addition to this, numerous organizations use industrial sensors to maximize their output, run equipment fault diagnostics, monitor plant assets, etc., which is also augmenting the global market. Moreover, the development of artificial intelligence (AI) and Internet of Things (IoT)-enabled smart sensors is acting as another significant growth-inducing factor. Furthermore, the emergence of Industry 4.0 trends and the expanding research and development (RD) activities are anticipated to stimulate the industrial sensors market in the coming years.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Sensor:
- Level Sensor
- Temperature Sensor
- Flow Sensor
- Position Sensor
- Pressure Sensor
- Force Sensor
- Image Sensor
- Gas Sensor
- Others
Breakup by Type:
- Contact
- Noncontact
Breakup by End Use Industry:
- Mining, Oil and Gas
- Manufacturing
- Chemical
- Energy and Power
- Healthcare
- Water and Wastewater Treatment
- Aerospace and Defense
- Others
Breakup by Region:
- North America (U.S. Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- ABB Ltd.
- Amphenol Corporation
- ams AG
- Bosch Sensortec GmbH (Robert Bosch GmbH)
- Honeywell International Inc.
- NXP Semiconductors N.V.
- Omega Engineering Inc. (Spectris Plc)
- Panasonic Corporation
- Renesas Electronics Corporation
- Rockwell Automation
- Siemens AG
- STMicroelectronics
- TE Connectivity Ltd
- Texas Instruments Incorporated.
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