Westford, USA, Feb. 05, 2024 (GLOBE NEWSWIRE) -- The global Industrial Sensors market size is expected to reach USD 40.36 billion by 2030 and exhibit a CAGR of 7.2% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing automation and digitization of industries, demand for real-time data and analytics for process optimization, stringent regulatory requirements for safety and environmental monitoring, the growth of the Internet of Things (IoT) and Industry 4.0 initiatives, the need for predictive maintenance to reduce downtime and operational costs, and the expansion of applications in sectors such as manufacturing, healthcare, and automotive are fueling the market's growth.
According to SkyQuest's latest global research of the Industrial Sensors market, the increasing adoption of wireless and IoT-enabled sensors for remote monitoring and control, the development of miniaturized sensors for integration into smaller devices and machines, the rise of edge computing for real-time data analysis, and decision-making, the use of advanced sensing technologies like LiDAR and multispectral imaging for enhanced precision and functionality, the emphasis on sensor data security and privacy, and the growth of predictive maintenance solutions leveraging sensor data for early fault detection and equipment reliability improvement are the trends that aid in the market's growth.
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Browse in-depth TOC on "Industrial Sensors Market"
- Pages - 157
- Tables - 64
- Figures -77
Industrial sensors are devices that measure physical or chemical quantities in industrial environments. They are used in various industries, including manufacturing, oil and gas, food and beverage, and healthcare. Industrial sensors are essential for ensuring industrial processes' efficient and safe operation.
Prominent Players in Industrial Sensors Market
- Honeywell International Inc.
- Emerson Electric Co.
- Siemens AG
- Schneider Electric SE
- Yokogawa Electric Corporation
- ABB Ltd.
- GE Digital
- TE Connectivity Ltd.
- Rockwell Automation Inc.
- Bosch Sensortec GmbH
- Endress+Hauser AG
- NXP Semiconductors N.V.
- STMicroelectronics N.V.
- Infineon Technologies AG
- Analog Devices Inc.
- Texas Instruments Inc.
- OMRON Corporation
- Murata Manufacturing Co., Ltd.
- TDK Corporation
- Kyocera Corporation
- Pepperl+Fuchs SE
- SICK AG
- Balluff GmbH
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 24.81 Billion |
| 2030 Value Projection | 40.36 Billion |
| CAGR | 7.2% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Temperature Sensors Demand to Grow Substantially in the Forecast Period
Temperature Sensors dominate the global online market as they are fundamental in various industrial applications, including manufacturing, HVAC systems, and process control. They are essential for monitoring and maintaining temperature levels, ensuring product quality, and optimizing energy efficiency.
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Manufacturing is the Leading Application Segment
In terms of application, manufacturing is the leading segment due to the increasing demand. Sensors are used for quality control, process optimization, and automation in various manufacturing processes. As industries aim for increased efficiency and precision, the demand for sensors in manufacturing remains high.
North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region is a global manufacturing hub for electronics, automobiles, consumer goods, and industrial equipment. This extensive manufacturing activity drives the demand for industrial sensors used in automation and quality control. Asian countries have invested in sensor technology research and development, contributing to advancements in sensor capabilities.
A recent report thoroughly analyzes the major players operating within the Industrial Sensors market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Industrial Sensors.
Key Developments in Industrial Sensors Market
- Spectris Plc agreed to sell the process measurement and control instruments of Omega Engineering in the US to private equity firm Arcline Investment Management for $525 million in cash.
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Key Questions Answered in Industrial Sensors Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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