Industrial Sensors Market by Sensor (Level Sensor, Image Sensor, Gas Sensor, Pressure Sensor, Position Sensor, Force Sensor, Flow Sensor, and Others); Type (Contact and Non-Contact); and Application (Oil & Gas, Manufacturing, Chemicals, Energy & Power, Mining, and Others): Global Market Size Estimates and Forecast (2022-2030)
The industrial sensors market is expected to cross US$ 21 billion mark in 2022 and is projected to hit US$ 34.5 billion by 2030, recording a CAGR of 9.5% during the forecast period.
The growing demand for smart sensor-enabled wearable devices is fueling the growth of industrial sensors market
The increasing popularity of automation in various industries is one of the major factors for the market growth. Also, the increasing demand for IIoT devices and industrial is driving the growth of industrial sensors market. Moreover, the growing demand for industrial sensors from automobile manufacturers to deliver improved safety and comfort to the customer is boosting the industrial sensors market growth. Furthermore, the growing technological advancement in industrial sector is further boosting the industrial sensors market.
In sensor segment, image sensor segment is projected to have the largest market share due to its growing demand for machine vision applications. Also, the use of image sensors in biometric equipment is further increasing its demand in the market. Further, other segments such as level sensor, gas sensor, pressure sensor, position sensor, force sensor, flow sensor, and others are also expected to gain traction during the forecasted year.
The report segments the industrial sensors market into sensor, type, application, and geography. Based on sensor, the industrial sensors market is further segmented into level sensor, image sensor, gas sensor, pressure sensor, position sensor, force sensor, flow sensor, and others. On the basis of type, the industrial sensors market is bifurcated into contact and non-contact. Based on application, the industrial sensors market is categorized into oil & gas, manufacturing, chemicals, energy & power, mining, and others. Geographically, the industrial sensors market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
The increase in adoption of Industrial 4.0 and IIoT in manufacturing sectors is boosting market growth.
Industrial sensors are input device that provides an output signal with respect to a physical quantity. They are specially designed sensors that help to sense, measure, and detect changes in the position, temperature, displacement, electrical current, and multiple parameters of industrial equipment. Industrial sensors are integrated into various devices used for the industrial automation process.
The growing demand for industrial sensors in manufacturing industry is driving the market growth
The applications of industrial sensors market are oil & gas, manufacturing, chemicals, energy & power, mining, and others. Among them, the demand for manufacturing industry accounts for the largest market share due to its growing use for monitoring and controlling temperatures and activities on the factory floor and in distribution centers. Also, the sensors help track the location of shipments and fleet trucks, increasing demand in the manufacturing sector. The other applications witnessing varied sensors-based applications includes oil & gas, chemicals, energy & power, mining, and others, which will encourage the use of industrial sensors and in turn will propel the industrial sensors market.
Recent strategic developments in industrial sensors market
The industrial sensors market has undergone several significant developments, and a few of these have been mentioned below:
- In March 2020, TE Connectivity Ltd. announced that they had acquired majority of First Sensor AG shares. Now TE holds 71.87% shares of First Sensor.
- In June 2021, STMicroelectronics announced the partnership with Metalenz Inc., a meta-surface design and commercialization pioneer. Under this partnership ST will develop manufacturing processes for Metalenz’s meta-optics technology for consumer devices, smartphones, healthcare, and automotive applications.
The industrial sensors market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Amphenol Advanced Sensors; Bosch Sensortec GmbH; TE Connectivity; Honeywell International Inc.; Dwyer Instruments; Panasonic Corporation; Rockwell Automation; Siemens AG; STMicroelectronics; and Texas Instruments Incorporated are among the prominent players operating in the industrial sensors market.
Target audience for the report:
- Raw material and component providers of industrial sensors
- Industrial sensors providers
- Industrial sensors -related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Industrial sensors distributors and sales firms
- End users of industrial sensors
- Sensors related research institutes, organizations, and consulting companies
Scope of the report:
In this report, the industrial sensors market has been segmented on the basis of:
- Sensor:
- Level Sensor
- Image Sensor
- Gas Sensor
- Pressure Sensor
- Position Sensor
- Force Sensor
- Flow Sensor
- Others
- Type:
- Contact
- Non-Contact
- Application:
- Oil & Gas
- Manufacturing
- Chemicals
- Energy & Power
- Mining
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Amphenol Advanced Sensors
- Bosch Sensortec GmbH
- TE Connectivity
- Honeywell International Inc.
- Dwyer Instruments
Companies profiled
- Amphenol Advanced Sensors
- Bosch Sensortec GmbH
- TE Connectivity
- Honeywell International Inc.
- Dwyer Instruments