India Sensors Market

An increase in automation in various verticals and increasing emphasis on safety solutions in the automotive industry is driving the market growth

Factory automation and the implementation of Industry 4.0 heavily rely on industrial sensors. These sensors, including motion, environmental, and vibration sensors, play a critical role in monitoring equipment health, covering aspects like linear or angular positioning, tilt sensing, leveling, shock detection, and fall detection. India's industrial sectors are poised for economic and demographic expansion, supporting both domestic interests and export opportunities, which are anticipated to grow significantly. As part of the 'Make in India' initiative, the Indian government is prioritizing automobile manufacturing.

According to the Auto Mission Plan (AMP) 2016-26, the passenger car market is projected to triple to 9.4 million units by 2026, leading to an increased utilization of sensors in the region. Companies are also expanding their operations to reinforce their positions in their respective markets. For instance, Gurgaon-based auto component supplier Minda Industries partnered with two Chinese subsidiaries of a US-based company, Sensata, to acquire wheel speed sensors for portfolio enhancement. According to Invest India, the automobile sector has received a cumulative equity FDI inflow of approximately US$ 35.40 billion between April 2000 and September 2023.

India is on track to become the largest electric vehicle (EV) market by 2030, with a total investment opportunity exceeding US$ 200 billion over the next 8-10 years. Moreover, the demand for automation is expanding in government-designated essential industries such as food and beverage, manufacturing, and pharmaceuticals, driven by labor shortages and the need for remote monitoring and operations. This surge in automation demand has led to increased requirements for various types of sensors.

The demand for Advanced Driver Assistance Systems (ADAS) is expected to surge in the foreseeable future, primarily propelled by regulatory revisions focusing on safety applications aimed at protecting drivers and preventing accidents. Additionally, there is a growing consumer interest in ADAS as people recognize the potential life-saving and comfort-related benefits it offers. In September 2018, the Union Minister for Road and Highway Transport announced plans to mandate ADAS in all new vehicles (including heavy-duty) by 2022, emphasizing the government's commitment to road safety. In 2018, India witnessed 467,044 road accidents, marking an increase from 464,910 in 2017.

Consequently, it is anticipated that more automakers will integrate ADAS into their vehicles shortly. These systems, such as parking assistance, blind spot recognition, and lane departure warning, are expected to contribute significantly to reducing the number of accidents on the road. Therefore, the market is expanding due to the Increase in Automation in various verticals and the Increasing Emphasis on Safety Solutions in the Automotive Industry. Thus, driving the Sensors market revenue.

The Global India Sensors Market Industry is experiencing a notable surge in demand for automation across various sectors, including manufacturing, automotive, and healthcare. This trend is largely driven by the need for enhanced efficiency and precision in operations. As industries increasingly adopt automated systems, the requirement for advanced sensors to monitor and control processes becomes paramount. In 2024, the market is projected to reach 12.5 USD Billion, reflecting the growing integration of smart technologies. The automation trend is expected to continue, potentially contributing to the market's expansion towards an estimated 30 USD Billion by 2035, with a CAGR of 8.28% from 2025 to 2035.

Leading market players are investing heavily in research and development to expand their product lines, which will help the Sensors market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Sensors industry must offer cost-effective items.

Major players in the Sensors market are attempting to increase market demand by investing in research and development operations includes STMicroelectronics Private Limited, 3M India Limited, Texas Instruments (India) Private Limited, Freescale Semiconductor India Private Limited, Murata Electronics (India) Private Limited, Honeywell Automation India Private Limited, TE Connectivity India Private Limited, Alps Electric (India) Private Limited, Semtech Advanced Systems India Private Limited, Cognex Sensors India Private Limited.