Industrial Sensors Market Overview
Over the years, the global industrial sensors market is gaining substantial rise owing to incrementing demand for smart factories. Market players utilize industrial sensors that help in detecting and replying to the inputs of physical environments.
These inputs include gas, position, pressure, image humidity, motion, level, flow, force, and temperature. Such sensors are widely adopted in industries such as oil and gas, pharmaceutical, chemicals, mining, and energy and power.
Lately, it has been observed that noncontact industrial sensor is witnessing a significant demand, thereby, catapulting the industrial sensors market growth. Growing penetration of wireless sensing and remote sensing contributes to the noncontact sensors market growth.
Due to the huge rise in adoption rates of wireless technology globally, the wireless market is set to witness an upward trend during the forecast period. This will also lead to greater opportunities for the manufacturers producing noncontact wireless sensors for manufacturing industries.
It is crucial to monitor data in factory set-ups, as they are vital for building automation and defense landscape. Furthermore, demand for noncontact sensors has been rising in the industrial sector and this trend is likely to continue over the coming years. This is attributed to an increase in the adoption of noncontact sensors to save energy and the need for advanced security solutions.
Impact of COVID-19 on Industrial Sensors Market
COVID pandemic outbreak related lockdowns and quarantines, created a negative demand shock for MEMS devices and sensors used in automotive and consumer electronics industry. For instance, during Q1 and Q2 of 2020, automotive sales showed a significant drop of about 35% compared to that of 2019. Given that each automobile can have around 35-90 sensors, a reduction in more than 100 million automotive sensors can be seen.
However, industrial companies can achieve significant impact through off-the-shelf IIoT solutions, which typically contains edge transmitters, sensors and a prepackaged IIoT platform. These solutions require little investment and provides in-depth and real-time operational analysis for workforce tracking. Thus the industrial sensors market is anticipated to recover by the second or third quarter of 2021.
Industrial Sensors Market: Drivers
Growing Sales of Air Pressure in Air Monitoring Systems to Propel Industrial Sensors Demand
Pressure sensors are growing rapidly in various sectors in recent times. It is witnessing growth owing to huge adoption in chemical, military, energy, and manufacturing landscapes on account of elevated reliability and performance in harsh environments. Pressure sensors play a critical role in the efficient functioning of HVAC system by precisely measuring pressure in the system for effective management and distribution of airflow.
Monitoring airflow and implementing pressure sensor in each room help HVAC to improve the building’s cooling, airflow, and heating along with decrease energy consumption. Thus, mounting need for HVAC systems will surge the demand for pressure sensors.
This, in turn, will escalate the industrial sensors market growth. Moreover, growing government initiatives related to the implementation of HVAC systems in institutes is expected to create high market opportunities.
For instance, the Indoor Air Quality Association (IAQA) and American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE) collaboratively recommended standards for moisture instruction and inspection of mild growth in educational institutions.
Mounting Adoption of Industrial IoT to Catapult Market Growth
Presently, the manufacturing industry is the major purchaser of industrial sensors. This is widely attributed to the growing adoption of the Internet of things (IoT) enabled sensors in manufacturing facilities to receive and send real-time data for power leakage, tampering, and error detections.
Owing to this, companies will optimize the entire plant operation, enhance their efficiency, and aid to minimize risks. Additionally, the proliferation of Industry 4.0 will improve the implementation of IoT sensors in manufacturing to surge efficiency, productivity, and performance.
Due to this, manufacturing corporations are deploying wireless and smart mini sensors to gather crucial information regarding supply chain and manufacturing process. Hence, it will create opportunities for the market players.
Industrial Sensors Market: Competition Landscape
Examples of some of the market participants in the global Industrial Sensors market identified across the value chain include
- NXP Semiconductors
- Infineon Technologies AG
- STMicroelectronics N.V.
- TE Connectivity.
- AMS AG
- Honeywell International Inc.
- Omron Corporation
- Sensirion AG
- Analog Devices Inc.
Following are some key strategies and developments in the global Industrial Sensors market:
- For instance in November 2018, Texas Instruments launched a new industrial sensor (single chip mmWave), which can support industrial automation through on-chip processing capabilities, offering real-time decision-making and signal processing.
Industrial Sensors Market: Regional Outlook
APAC will continue to lead the global industrial sensors market over the forecast period. This growth is largely dependent on rapid industrialization. Rapid technological advancements, rising electronic industry, mounting population, and surging automobile industry are the factors responsible for the growth of industrial sensors in APAC.
In addition, the increasing adoption of industrial robots in China to improve the operations and efficiency will trigger the growth of the industrial sensors market. On the other hand, Europe is subjected to a steady growth, owing to safety directives and stringent regulatory standards in the region.
The industrial sensors market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on
- Industrial Sensors Market Segments
- Industrial Sensors Market Dynamics
- Industrial Sensors Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Technology Landscape
- Value Chain of the Market
- Market Drivers and Restraints
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Russia, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia and Pacific (India, Malaysia, Indonesia, Singapore, Australia & New Zealand, Rest of South Asia and Pacific)
- Middle East and Africa (GCC Countries, Turkey, Northern Africa, South Africa, Rest of MEA)
Industrial Sensors Market Segmentation
The Industrial Sensors market can be segmented on the basis of sensor, type, application and region.
- Level Sensor
- Position Sensor
- Temperature Sensor
- Gas Sensor
- Flow Sensor
- Force Sensor
- Energy & Power
- Oil & Gas