Industrial Sensors Industry worth $42.1 billion by 2029
According to a research report "Industrial Sensors Market by Sensor Type (Level Sensor, Temperature Sensor, Gas Sensor, Pressure Sensor, Position Sensor, and Humidity & Moisture Sensor), Type (Contact & non-contact sensors), End-User Industry and Region - Global Forecast to 2029" The Industrial Sensors Industry Size is projected to grow from USD 27.9 billion in 2024 and is expected to reach USD 42.1 billion by 2029, growing at a CAGR of 8.5% from 2024 to 2029.
Many industries are subject to stringent regulations and safety standards that necessitate the use of high-performance industrial sensors. These sensors help ensure compliance with environmental regulations, monitor hazardous materials, prevent accidents, and protect worker safety. The increasing focus on environmental sustainability and worker safety further drives the demand for reliable and accurate sensor technologies eventually driving the market for industrial sensors.
Browse 187 market data Tables and 57 Figures spread through 240 Pages and in-depth TOC on "Industrial Sensors Market by Sensor Type (Level Sensor, Temperature Sensor, Gas Sensor, Pressure Sensor, Position Sensor, and Humidity & Moisture Sensor), Type (Contact & non-contact sensors), End-User Industry and Region - Global Forecast to 2029 "
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Industrial Sensors Industry Segmentation
By Segment, Industrial Sensors Industry for Contact Sensor is expected to hold the largest market share during the forecast period.
Contact type industrial sensors are a traditional technology and are, therefore, a mature market. Increasing demand for contact type sensors for a wide range of applications like manufacturing, chemical, oil & gas, and pharmaceutical. Contact sensors are crucial for precise monitoring and control of various pharmaceutical processes, such as mixing, blending, and packaging. This ensures product quality, consistency, and compliance with strict regulatory standards. Factors such as these are likely to further boost the growth of the segment.
By Segment, Industrial Sensors Industry for Image Sensor is expected to witness the highest CAGR during the forecast period.
Image sensors are used in industries for two main applications, i.e., machine vision and industrial surveillance. This increases the demand for high-resolution imaging, image sensors consist of microlenses which are placed on top of each pixel to focus light onto the sensor, reducing image distortion and improving sharpness. Advanced microlens designs can further optimize light gathering and improve image quality. Hence factors such as these are driving the market for image sensors in the market.
By Segment, Industrial Sensors Industry for Manufacturing is expected to hold the largest market share during the forecast period.
Industrial sensors provide real-time data on various parameters like temperature, pressure, flow, and level, enabling precise control and optimization of production processes. This data-driven approach helps manufacturers, reduce waste by optimizing resource utilization and preventing overproduction, minimize downtime with predictive maintenance, identify potential equipment failures before they occur, optimize energy consumption by monitoring and adjusting energy usage patterns, improve overall plant performance by identifying and eliminating bottlenecks in production processes. The ability of industrial sensors to significantly improve efficiency, productivity, and product quality is driving their adoption in the manufacturing industries.
Regional Analysis of Industrial Sensors Industry
By Region, Industrial Sensors Industry for Asia Pacific is expected to have the largest share during the forecast period.
Asia Pacific region is expected to have the largest market share of the Industrial Sensors Industry during the forecast period. Asia pacific has the largest number of smartphone users in the world, and advancements in sensing technology are expected to lead to the integration of sensors with smartphones, smart bands, and tablets. These factors have led to technological developments of new sensor types with improved accuracy, reliability, and functionality. This includes miniaturized sensors, wireless communication capabilities, and integration with artificial intelligence (AI) and the Internet of Things (IoT). This, in turn, is expected to fuel the growth of the industrial sensors industry in Asia Pacific.
Key Players
Leading players in the industrial sensors industry include Rockwell Automation (US), Honeywell International Inc. (US), Texas Instruments Incorporated (US), Panasonic (Japan), STMicroelectronics (Switzerland), TE Connectivity (Switzerland), Siemens (Germany), Amphenol Corporation (US), Dwyer Instruments, LLC. (US), and Bosch Sensortec (Germany) and Omega Engineering Inc. (US), Sensirion AG (Switzerland), ams-OSRAM AG (Austria), Microchip Technology Inc. (US), ABB (Switzerland), NXP Semiconductors (Netherlands), Endress+Hauser Group Services AG (Switzerland), Figaro Engineering Inc. (Japan), Safran Colibrys SA (Switzerland), Analog Devices Inc. (US), Infineon Technologies AG (Germany), Renesas Electronics Corporation (Japan), Breeze Technologies (Germany), eLichens (France) and Edinburgh Sensors (UK) are few other key companies operating in the industrial sensor market.
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