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Global Industrial Sensors Market to Reach US$ 34.87 Billion by 2027, Impelled by Rapid Industrial Automation

Published on Jun 24, 2022

According to the latest report by IMARC Group, titled “Industrial Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global industrial sensors market reached a value of US$ 20.6 Billion in 2021. Industrial sensors are electronic devices that detect environmental changes and provide corresponding outputs and signals. They sense physical input, such as pressure, heat, light, voltage, moisture, and pressure, and respond by generating an output on the display screen for transmitting the information for further processing. Industrial sensors are widely used to measure, detect, and sense changes in the temperature, position, electrical current, and multiple parameters of industrial equipment. They aid in accelerating production processes, ensuring accurate positioning of mechanical components, increasing productivity, and providing feedback regarding their operational condition.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Industrial Sensors Market Trends:

The growing need for industrial automation across the globe is creating a positive outlook for the market. Industrial sensors are widely used to achieve increased productivity, higher accuracy, lower labor costs, and reduced energy usage. In line with this, the widespread product adoption to measure physical, chemical, or biological quantities with accuracy and repeatability is favoring the market growth. Apart from this, various advancements in technology, such as the integration of artificial intelligence (AI) and the Internet of Things (IoT)-enabled smart sensors that help monitor and predict machine breakdowns, are providing an impetus to the market growth. Moreover, the increasing product demand in various industries to monitor plant assets, improve workplace safety, maximize output, and run equipment fault diagnostics is propelling the market growth. Other factors, including the widespread adoption of image sensors, extensive research and development (R&D) activities, and the introduction of industrial sensors with on-chip processing, real-time decision making, and signal processing capabilities, are anticipated to drive the market toward growth.  On account of the aforementioned factors, the market is expected to reach US$ 34.87 Billion by 2027, exhibiting a CAGR of 9.10% during 2022-2027.

Market summary

  • On the basis of the sensor, the market has been categorized into level, temperature, flow, position, pressure, force, image, gas, and other sensors. Amongst these, level sensors dominate the market.
  • Based on the type, contact leads the market, followed by noncontact.
  • On the basis of the end use industry, the market has been categorized into mining, oil and gas, manufacturing, chemical, energy and power, healthcare, water and wastewater treatment, aerospace and defense, and others. Currently, the manufacturing sector holds the largest market share.
  • On a regional basis, the market is led by Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and Others), followed by North America (the United States and Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.
  • The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Amphenol Corporation, ams AG, Bosch Sensortec GmbH (Robert Bosch GmbH), Honeywell International Inc., NXP Semiconductors N.V., Omega Engineering Inc. (Spectris Plc), Panasonic Corporation, Renesas Electronics Corporation, Rockwell Automation, Siemens AG, STMicroelectronics, TE Connectivity Ltd. and Texas Instruments Incorporated.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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