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Industrial Sensors Market, By Type (Flow Sensor, Level Sensor, Pressure Sensor, Temperature Sensor,

Published Date: April 2020 | Report Code : EQ2063363

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Industrial Sensors Market, By Type (Flow Sensor, Level Sensor, Pressure Sensor, Temperature Sensor, Proximity Sensor, Image Sensor, Others), By End User (Oil & Gas, Chemicals, Manufacturing, Pharmaceuticals, Energy & Power, Others), and By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) – Market Size & Forecasting to 2028

COVID-19 Impact : Our team has been closely monitoring the current developments to identify the potential impact of COVID-19 on stakeholders and business processes across the value chain of industries. A special section about COVID-19 will be covered with the report to help companies in defining sustainable strategies.

Domain : Equipment

Report Code : EQ2063363

Status : Published April 2020

The global industrial sensors market size was valued at USD 21.1 billion in 2019 and is anticipated to grow at a CAGR of 6.8% during the forecast period. Industrial sensors are widely used in industrial application and automation. It plays a major role in the manufacturing sector owing an increase in the automation in every industrial sector as manufacturing, oil & gas, energy & power, and others.

Government support for industrial automation and increasing applications of sensors are the factors that will propel the global industrial sensors market during the forecast period. Increasing focus by different factories to transform into digital manufacturing and great emphasis on factory automation is supporting the demand of industrial sensors across the globe. Furthermore, the lack of skilled workforce, higher installation cost, and reluctance amongst the old factories for its adoption are some of the major constraints on industrial sensors market growth.

Industrial sensors are the devices which helps in detecting and responding to the physical environment’s input. These sensors are specialized to ensure effective coordination in the factories. Increase in the demand of smart asset monitoring system in industries such as energy & power is driving the growth of industrial sensors market.  Advancement in technology, increase in application of wearables in industries is anticipated to boost the growth of industrial sensors market. Therefore, the industrial sensors market is expected to increase soon due to growth in demand for predictive maintenance in industries.

Key Factors Impacting the Growth of Industrial Sensors Market:

  • Technological advancements
  • Increasing market demand for IoT sensors
  • Growth in wearable devices across the application areas of industrial sensors such as manufacturing, oil & gas, and others
  • Increase in competition in the market

The industrial sensors market segmentation is based on components, Type, end users, and region. The industry professionals are looking forward to increase the application of industrial sensors in the industries. The industrial sensors market is currently witnessing high growth due to increased demand in the industrial automation and digital manufacturing.

Type Outlook:

The Type for the generation of revenues in the global industrial sensors market is Flow Sensor, Level Sensor, Pressure Sensor, Temperature Sensor, Proximity Sensor, Image Sensor, and Others (sentence case). The Proximity Sensor segment is predicted to account for the largest share in industrial sensors market. This is because it helps to detect the presence of objects without any physical contact.

End User Outlook:

Based on End User, the industrial sensors market has been segmented into Oil & Gas, Chemicals, Manufacturing, Pharmaceuticals, Energy & Power, and Others. In 2018, the manufacturing industry accounted for the largest share in the industrial sensors market. Industrial sensors plays a major role in the manufacturing industry owing to the varied government initiatives taken by government for industrial automation and real-time monitoring system for factories.

Regional Outlook:

Based on the region, the global industrial sensors market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. In terms of revenue, North America holds a dominant position in the global industrial sensors market. The region's dominance is attributable to favorable significant adoption of industrial sensors for industrial application and significant growth in industrial IoT. In Europe, the growth of industrial sensors is driven by automotive manufacturing and safety regulations by the France government in near future. Furthermore, Asia Pacific is estimated to project the fastest growth rate in the global industrial sensors market during the forecast period. This growth can be accredited to several factors, such as an increase in the application of robotics in industries is driving the demand of industrial sensors in Japan. The growth in electronics industry, rising population, increase in the growth of automobile industry is also contributing to market growth in the Asia Pacific region.

The report analyzes factors affecting the industrial sensors market from both demand and supply side and further analyses market dynamics affecting the market during the forecast year such as driver, restrain, opportunities and future trends. The report also provides comprehensive Porter’s model analysis on the industrial sensors market for all six regions namely; North America, Western Europe, Eastern Europe, Asia Pacific, Middle East and the Rest of the world.

Competitive Landscape

The industrial sensors is a fragmented market comprising moderately small players. Key market players are involved in offering start-to end industrial application to its end users. Similarly, other business models such as joint venture and market entry strategies are helping prominent vendors to make their presence felt in the industrial sensors market and increase their product portfolio. The key leading players in the market include Rockwell Automation, Honeywell, Amphenol Corporation, Texas Instruments, Panasonic, STMicroelectronics, First Sensor, Siemens, Omron Corporation, Bosch Sensortec Gmbh, and others.

This report also includes the profiles of key industrial sensors market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.

Key Developments in Industrial Sensors Market:

  • In December 2017, Odos Imaging was acquired by Rockwell Automation to leverage 3D time-of- flight (ToF) for sensing and safety application. This acquisition was focused on delivering broad range of industrial applications to automotive, packaging, logistics, material handling, and other industries.
  • In January 2019, Allen-Bradley 42AF RightSight M30 photoelectric sensors were launched by Rockwell Automation in link with IO-Link capability which would help in integrating the connected devices, by delivering data from the sensors to its control system.

What Does This Report Provide?

This report provides a detailed understanding of the global industrial sensors market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

Market Segmentation:

By Type

  • Flow Sensor
  • Level Sensor
  • Pressure Sensor
  • Temperature Sensor
  • Proximity Sensor
  • Image Sensor
  • Others

By End User

  • Oil & Gas
  • Chemicals
  • Manufacturing
  • Pharmaceuticals
  • Energy & Power
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Type
    • By End User
  • Europe
    • By Country (Germany, Russia, UK, France, Italy, Spain, Rest of Western Europe)
    • By Type
    • By End User
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Type
    • By End User
  • Middle East & Africa
    • By Country (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa)
    • By Type
    • By End User
  • South America
    • By Country (Brazil, Argentina, Colombia, Rest of South America)
    • By Type
    • By End User

Reasons to Buy This Report:

  • Market size estimation of the industrial sensors market on a regional and global basis
  • Unique research Usage for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

For more information, contact:  [email protected]

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