Emergen research’s latest document, titled ‘Industrial Sensors Market’ is one of the most sought-after market reports involving an in-depth analysis of the global Industrial Sensors Market. The report’s authors have offered necessary details on the latest Industrial Sensors Market trends and the crucial parameters impacting both short-term and long-term market growth.
The global industrial sensors market size reached USD 22.98 Billion in 2021 and is expected to register a revenue CAGR of 9.9% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for Internet of Things (IoT) enabled devices is driving market revenue growth. Input devices that are interlinked to systems and measure changes in required equipment are known as industrial sensors. Industrial plants use a variety of sensors, each with its own unique design and capability. For example, temperature sensor is a device that collects thermal information from a resource and converts it into a format that another device can understand. These sensors, in conjunction with a monitoring relay, are commonly used in windings of industrial electric motors to protect against overheating and to prevent insulation damage. This monitoring can also be linked to a wireless sensor network, allowing for real-time adjustments and disaster prevention measures to be implemented in the event of a disaster.
The industrial 4.0 revolution has already begun, and benefits of implementing new disruptive technologies are becoming increasingly apparent in existing industries. Technological behemoths such as AT&T and Google are also experimenting with Industry 4.0 solutions. Industrial Internet of Things (IIoT) is a sub-segment of IoT that is used for industrial purposes such as manufacturing and supply chain monitoring and management. Increasing use of IIoT is expected to drive demand for sensors across most industries, including automotive and healthcare.
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Some Key Highlights from the Report
- Image sensor segment accounted for moderate revenue share in 2021. Rapid technological advancements in the field of image sensing have aided in advancements of embedded systems. This has resulted in advancements in ultra-high-speed imaging systems for governing automation, as well as machine vision and motion analysis, which enables this technology.
- Manufacturing segment accounted for largest revenue share in 2021. Manufacturing industries are the backbone of any country's economy. They help with fabrication, processing, or preparation of products from their initial stages of raw materials to finished goods. Additionally, it promotes development of transportation and communication infrastructure, such as construction of roads and railways.
- Market in Asia Pacific accounted for largest revenue share in 2021. Rising demand of industrial sensors is primarily due to increased coal extraction activities for industrial power generation. Furthermore, as China is the source of an affordable and diverse range of electronic components, market players invest heavily in their manufacturing plants.
Some major companies in the global market report include Rockwell Automation, Inc., Texas Instruments Incorporated, Panasonic Corporation, STMicroelectronics, Siemens, Amphenol Corporation, Bosch Sensortec GmbH, OMEGA Engineering Inc., Honeywell International Inc., and TE Connectivity
The research study sheds light on the key growth opportunities and market trends along with other vital market dynamics, including the drivers and restraints on the industry growth. With this report, the prospective buyers can be sure to become capable of adapting to the changes in the Industrial Sensors industry.
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The study has been conducted on the basis of inputs from the industry leaders. Thus, a conscious effort to dive deep and unearth hard to find information pertaining to the growing market landscape and growth prospects over the next few years is clearly visible in the study. The market intelligence report further comprises of discussions about the major vendors operating in the Industrial Sensors space
Segmentation:
Emergen Research has segmented the global industrial sensors market on the basis of sensor type, technology, industry type, and region:
· Sensor Type Outlook (Revenue, USD Billion; 2019-2030)
- Temperature Sensor
- Pressure Sensor
- Level Sensor
- Force Sensor
- Flow Sensor
- Humidity and Moisture Sensor
- Gas Sensor
- Position Sensor
- Image Sensor
· Technology Outlook (Revenue, USD Billion; 2019-2030)
- System in Package (SiP)
- System on Chip (SoC)
· Industry Type Outlook (Revenue, USD Billion; 2019-2030)
- Chemical
- Pharmaceutical
- Oil & Gas
- Manufacturing
- Mining
- Energy & Power
- Others
Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Overview of the Industrial Sensors Market Report:
- Introduction, Product Scope, Market Overview, and Opportunities
- Analysis of the Manufacturers with sales, revenue, and price analysis
- Comprehensive analysis of the competitive landscape
- Extensive profiling of the key competitors along with their business strategies and market size
- Regional analysis of the market along with sales, revenue, market share, and global position
- Country-wise analysis of the market along with types, applications, and manufacturing
- Strategic recommendations to established players as well as new entrants
The study elaborates on the crucial information pertaining to the regional Industrial Sensors share. It simultaneously focuses on the significant details about the growth patterns of each regional market.
Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.
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