ID: MRFR/SEM/9292-CR | 58 Pages | Published By Ankit Gupta on October 2022
Industrial sensors market size is projected to register a significant CAGR of 9.06% and is to reach a market value of $53.2 Billion by 2022-2030
The global Industrial Sensors Market Size is expected to reach USD 41,265.7 million by 2030, at a CAGR of 8.3% during the forecast period, 2022–2030 driven by the Rising Adoption of Temperature Industrial sensors.
The global Industrial sensors market has been segmented based on sensor type, technology, end-user industry, and region. By sensor type, the global market is categorized into Pressure Sensor, Position Sensor, Gas Sensor, Image Sensor, Magnetic Sensor, Electromagnetic Sensor, Temperature Sensor, and Others. The Pressure Sensor segment accounted for the largest market share in 2021, with a market value of USD XXX million; it is expected to register a CAGR of 6.9% during the forecast period. The Temperature Sensor segment was the second-largest market in 2021, valued at USD XXX million. While the Image Sensor segment is expected to register the third largest market in 2021. In terms of type, the global market is categorized into contact and non-contact type. The contact segment accounted for the largest market share in 2021, with a market value of USD XX million; it is expected to register a CAGR of 7.9% during the forecast period. The non-contact segment was the second-largest market in 2021, valued at USD XX million; it is projected to register a CAGR of 9.4%.
In terms of technology, the global market is categorized into Micro-Electro-Mechanical Systems (MEMS) Technology, Complementary Metal Oxide Semiconductor (CMOS) Technology, Nanoelectromechanical Systems (NEMS), and other type. The Micro-Electro-Mechanical Systems (MEMS) Technology segment accounted for the largest Industrial Sensors Market Share in 2021, with a market value of USD XX million; it is expected to register a CAGR of 7.2% during the forecast period. The Complementary Metal Oxide Semiconductor (CMOS) Technology segment was the second-largest market in 2021, valued at USD XX million; it is projected to register a CAGR of 8.4%. In terms of end-user industry, the global market is categorized into Oil & Gas, Pharmaceuticals, Chemicals, Manufacturing, and Others End User Industry. The Oil & Gas segment accounted for the largest market share in 2021, with a market value of USD XX million; it is expected to register a CAGR of 6.9% during the forecast period. The manufacturing segment was the second-largest market trend in 2021, valued at USD XX million; it is projected to register a CAGR of 8.0%.
As a result of COVID-19, the industrial sensor industry has faced significant challenges. The ability of pandemics to enable novel activities and social forms influences sensor demand and consumption. Although the global automotive industry has been in a slump for the past two years, the trend has also been seen in China. In the sector, the number of sensor and sensor components has increased. MEMS pressure sensor have recently seen widespread adoption in the smart automotive sector. Asystom recently launched a line of multi-sensor IIoT devices with increased autonomy for this purpose. The multi-sensor capability has addressed the predictive maintenance needs of various industrial equipment, integrating new onboard, connected, energy-saving electronics and performing in situ analysis. Apart from increased performance, these innovative products are eco-responsible and 100% upgradeable. In recent months, lockdown procedures have considerably decreased sensor device usage in the commercial and industrial sectors. Slower demand growth due to decreased economic activity due to COVID-19 will almost certainly occur. Falling industrial production resulted in reduced sensor generation. As the world fights the same enemy, consumers and businesses embrace new technologies and discover their benefits. Sensor technologies for the Internet of Things have played a significant role. Sensor have assisted people in surviving the pandemic's worst phase. This outbreak may have permanently altered public perception of IoT.
The Industrial Sensor play a vital role in making production intelligent and automated. These allow people to monitor, analyse, and process various changes that occur on the industrial manufacturing site, such as changes in temperature, motion, pressure, altitude, external, and security. An industrial sensor is a device that would react to a physical quantity such as heat, light, sound, pressure, magnetism, motion, etc, and it would be converted into an electrical signal. The output signal of the sensor is electrical, mechanical, magnetic, etc.
Temperature sensors are widely deployed in a wide range of industries, including the medical, food, hydropower station, petrochemical, metallurgy, printing and dyeing pharmaceutical business, and others. Temperature is the most measured physical parameter in industrial production, and many sensors can be employed to monitor it. A temperature sensor is a device that receives temperature information from its surroundings and translates it into specified values. Digital temperature sensors and temperature and humidity sensors are the most utilized in industrial automation. Almost every process or environmental circumstance has a sensor type that is appropriate. The smart sensor combines signal conditioning, MEMS technology, and firmware to suit the easy-to-use and low-cost perception needs of industrial design engineers while significantly lowering the development burden of design engineers.
Temperature measurement and control sensors have evolved into an essential component of industrial process monitoring. Many industrial applications necessitate constant and precise temperature regulation. Temperature sensors are used in these applications to ensure accurate temperature monitoring and control. Surface mount RTDs, thermocouples, thermocouple probes, probe-type RTDs, and other types of industrial temperature sensors are available. The probe-type sensors stand out because of their advantages in distant and dangerous situations. The importance of temperature sensor probes in industrial applications is discussed in this essay.
Sensors are crucial in vehicle production business. Thousands of decisions are made by modern cars based on data provided by numerous sensors that are interfaced to the vehicles' onboard computer systems. A vehicle engine management system is made up of a variety of sensor devices that work together, such as engine sensors, relays, and actuators. Many of these sensors work in tough environments with severe temperatures, vibrations, and exposure to environmental toxins. Nonetheless, these offer critical data parameters to the electronic control unit (ECU), which effectively manages the various engine functions. Sensors are essential in automobiles. This allows for increasing levels of vehicle automation and futuristic styling. Sensorised robotic arms, for example, are used in manufacturing units to paint vehicle bodywork and measure the thickness of the coatings being applied. Using sensors, manufacturers may simply monitor the thickness of the paint being sprayed on instruments, airbag claddings, and various internal sections of the vehicles.
The global Industrial sensors market has been segmented based on sensor type, type, technology, and end user industry.
By sensor type, the global Industrial Sensors Market is categorized into Pressure Sensor, Position Sensor, Gas Sensor, Image Sensor, Magnetic Sensor, Electromagnetic Sensor, Temperature Sensor, and Others.
In terms of type, the global Industrial Sensors Market is categorized into contact and non-contact type.
In terms of technology, the global Industrial Sensors Market is categorized into Micro-Electro-Mechanical Systems (MEMS) Technology, Complementary Metal Oxide Semiconductor (CMOS) Technology, Nanoelectromechanical Systems (NEMS), and others type. Micro-Electro-Mechanical Systems (MEMS) Technology is further segmented into MEMS gyroscopes, MEMS pressure sensors, and MEMS magnetic field sensors. By MEMS pressure sensors, the market is further segmented into Absolute pressure sensor, Vacuum pressure sensor, Sealed pressure sensor, Gauge pressure sensor, and Differential pressure sensors.
In terms of end-user industry, the global Industrial Sensors Market is categorized into Oil & Gas, Pharmaceuticals, Chemicals, Manufacturing, and Others End User Industry.
The global Industrial Sensors market trends, based on region, has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America dominated the Industrial Sensors market in 2021, whereas Asia-Pacific held the second spot for the market in terms of market share. Asia-Pacific is expected to register the highest growth rate in the Industrial Sensors Market Share during the forecast period, 2022-2030.
The Global Industrial Sensors market has witnessed significant growth over the forecast period due to the growing adoption of IOT and Industry 4.0 in manufacturing, and rising demand for smart sensors-based wearable devices.There are several domestic, regional, and global players operating in the industrial sensors market who continuously strive to gain a significant share of the overall market. During the study, MRFR analyzed some of the major players in the Global Industrial Sensors market who have contributed to the market growth. These include Rockwell Automation Inc, Honeywell International Inc., Texas Instruments Inc, Panasonic Corporation, Crocus Technology, Inc., TE Connectivity, Siemens AG, Amphenol Corporation, Dwyer Corporation, Inc., Bosch Sensortec GmbH, Omega Engineering Inc., Sensirion AG, AMS AG, Microchip Technology Inc, ABB Group.
Among these, Honeywell International, Amphenol Corporation, Siemens AG, Texas Instruments, and Microchip Technology Inc. are among the top 5 players in the Global Industrial Sensors market. These players focus on expanding and enhancing their product portfolio and services to remain competitive and increase their customer base. Additionally, these players are focusing on partnerships & collaborations to expand their business and customer base to enhance their market position.
This study estimates revenue growth at global, regional, and country levels and offers an overview of the latest developments in each of the sub-sectors from 2018 to 2030. For this analysis, MRFR segmented the global Industrial Sensors market has been segmented based on sensor type, type, technology, and end user industry.
|Market Size||2030: USD 41,265.7 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Sensor Type, Technology, User Industry, Type|
|Geographies Covered||North America, Europe, Asia-Pacific, Middle East & Africa, South America|
|Key Vendors||Rockwell Automation, Honeywell International, Texas Instruments, Panasonic Corporation, TMicroelectronics, TE Connectivity, Siemens, Amphenol Corporation, Dwyer Instruments, Bosch Sensortec, OMEGA ENGINEERING, SENSIRION AG, AMS AG, MICROCHIP TECHNOLOGY INC., ABB LTD.,|
|Key Market Opportunities||Growing demand of smart sensors from automobile manufacturers|
|Key Market Drivers||
Industrial Sensor market is projected to grow at a CAGR of 8.3% during the forecast period, 2022–2030
The major contenders in the global market are Honeywell International (US), Amphenol Corporation (US), Siemens AG (Germany), Texas Instruments (US), and Microchip Technology Inc. (US).
The segments in the market are sensor type, type, technology, end user industry and Region.
North America regional market is projected to be the major driver of the market.