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Industrial Sensors Market by Sensor Type (Level Sensor, Temperature Sensor, Gas Sensor, Pressure Sensor, Position Sensor, and Humidity & Moisture Sensor), Type (Contact & non-contact sensors), End-User Industry and Region - Global Forecast to 2029

Publisher MarketsandMarkets
Published Jan 19, 2024
Length 241 Pages
SKU # MKMK18455848

Description

Industrial Sensors Market by Sensor Type (Level Sensor, Temperature Sensor, Gas Sensor, Pressure Sensor, Position Sensor, and Humidity & Moisture Sensor), Type (Contact & non-contact sensors), End-User Industry and Region - Global Forecast to 2029



The industrial sensors market is projected to grow from USD 27.9 billion in 2024 and is expected to reach USD 42.1 billion by 2029, growing at a CAGR of 8.5% from 2024 to 2029. The growing technological advancements in industrial sensors. The reduction in size and the growing penetration of MEMS technology in the sensors industry have created a wide horizon of applications for industrial sensors in applications such as manufacturing, oil & gas, mining, pharmaceuticals, energy & power, and chemicals.

“Non-contact sensors in the industrial sensor market to witness highest growth rate during the forecast period.”

The non-contact industrial sensors market is expected to grow at a higher rate during the forecast period. The growth of the market can be attributed to the increasing penetration of remote monitoring and wireless sensor technologies. Non-contact sensors do not require physical contact with the object being measured, eliminating the need for regular maintenance and calibration. This reduces downtime and associated costs. Hence, these sensors are preferable over traditional contact sensors.

“Market for oil & gas segment in the industrial sensor market to hold the second largest market share during the forecast period.”

The oil & gas industry highly depends on the consistent and effective operation of its pipelines and other equipment. Unmonitored pressure and vibration damage the wells, pipelines, and reciprocating machinery, which can lead to unscheduled downtime and high financial losses. Industrial sensors read relevant data, such as temperature, flow rate, or pressure, and actuators trigger a response to that data resulting in an efficient operation in the oil & gas industries.

“The US is expected to hold the largest market size in the North American region during the forecast period.”

The US accounted for the largest share of the North American industrial sensor market in 2023, and a similar trend is expected to be witnessed during the forecast period. The automotive industry is one of the significant contributors to the growth of the US industrial sensors market. The development of autonomous vehicles and Advanced Driver-Assistance Systems (ADAS) relies heavily on sensors for obstacle detection, navigation, and safe operation. These sensors generate 3D maps of the surrounding environment, detect objects in all weather conditions, provide visual information about the environment, and detect objects at close range enabling the vehicle navigate safely and autonomously.

By Company Type: Tier 1 – 50%, Tier 2 – 30%, and Tier 3 – 20%

By Designation: C-level Executives – 30%, Directors –30%, and Others – 40%

By Region: North America –30%, Europe – 25%, Asia Pacific– 40%, and RoW – 5%

The report profiles key players in the industrial sensor market with their respective market ranking analysis. Prominent players profiled in this report include Rockwell Automation (US), Honeywell International Inc. (US), Texas Instruments Incorporated (US), Panasonic (Japan), STMicroelectronics (Switzerland), TE Connectivity (Switzerland), Siemens (Germany), Amphenol Corporation (US), Dwyer Instruments, LLC. (US), and Bosch Sensortec (Germany). Apart from these, Omega Engineering Inc. (US), Sensirion AG (Switzerland), ams-OSRAM AG (Austria), Microchip Technology Inc. (US), ABB (Switzerland), NXP Semiconductors (Netherlands), Endress+Hauser Group Services AG (Switzerland), Figaro Engineering Inc. (Japan), Safran Colibrys SA (Switzerland), Analog Devices Inc. (US), Infineon Technologies AG (Germany), Renesas Electronics Corporation (Japan), Breeze Technologies (Germany), eLichens (France) and Edinburgh Sensors (UK) are among a few other key companies in the industrial sensor market.

Report Coverage

The report defines, describes, and forecasts the industrial sensor market based on sensor type, type, end user, and region. It provides detailed information regarding drivers, restraints, opportunities, and challenges influencing the growth of the industrial sensor market. It also analyzes competitive developments such as product launches, acquisitions, expansions, contracts, partnerships, and actions carried out by the key players to grow in the market.

Reasons to Buy This Report

The report will help the market leaders/new entrants in the market with information on the closest approximations of the revenue for the overall industrial sensor market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insight to position their business better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, opportunities, and challenges.

The report will provide insights into the following pointers:

Analysis of key drivers (Rising adoption of Industry 4.0 and IIoT in manufacturing), restraints (Competitive pricing resulting in a decline in average selling prices), opportunities (Predictive maintenance to offer lucrative opportunities to market players), and challenges (Precise performance requirements from upcoming advanced/ technologically sensors) of the industrial sensor market.

Product development /Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the industrial sensor market.

Market Development: Comprehensive information about lucrative markets; the report analyses the industrial sensor market across various regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the industrial sensor market.

Competitive Assessment: In-depth assessment of market share, growth strategies, and services, offering of leading players like Rockwell Automation (US), Honeywell International Inc. (US), Texas Instruments Incorporated (US), Panasonic (Japan), and STMicroelectronics (Switzerland) among others in the industrial sensor market.

Table of Contents

241 Pages
    • STUDY OBJECTIVES
    • MARKET DEFINITION
    • STUDY SCOPE
    • CURRENCY CONSIDERED
    • UNITS CONSIDERED
    • LIMITATIONS
    • STAKEHOLDERS
    • SUMMARY OF CHANGES
    • IMPACT OF RECESSION
    • RESEARCH APPROACH
    • MARKET SIZE ESTIMATION
    • DATA TRIANGULATION
    • RESEARCH ASSUMPTIONS
    • PARAMETERS CONSIDERED TO ANALYZE RECESSION IMPACT ON INDUSTRIAL SENSORS MARKET
    • RESEARCH LIMITATIONS
    • RISK ASSESSMENT
  • EXECUTIVE SUMMARY
    • ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN INDUSTRIAL SENSORS MARKET
    • INDUSTRIAL SENSORS MARKET, BY TYPE
    • INDUSTRIAL SENSORS MARKET, BY SENSOR TYPE
    • INDUSTRIAL SENSORS MARKET, BY END-USER INDUSTRY
    • INDUSTRIAL SENSORS MARKET IN ASIA PACIFIC, BY END-USER INDUSTRY AND COUNTRY
    • INDUSTRIAL SENSORS MARKET, BY COUNTRY
    • INTRODUCTION
    • MARKET DYNAMICS
    • VALUE CHAIN ANALYSIS
    • TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
    • ECOSYSTEM ANALYSIS
    • PORTER’S FIVE FORCES ANALYSIS
    • KEY STAKEHOLDERS AND BUYING CRITERIA
    • CASE STUDY ANALYSIS
    • TECHNOLOGY ANALYSIS
    • TRADE ANALYSIS
    • TARIFF ANALYSIS
    • PATENT ANALYSIS
    • REGULATORY LANDSCAPE AND STANDARDS
    • KEY CONFERENCES AND EVENTS, 2023-2024
    • PRICING ANALYSIS
    • INTRODUCTION
    • PACKAGING TECHNOLOGIES USED FOR INDUSTRIAL SENSORS
    • MICROELECTROMECHANICAL SYSTEMS (MEMS) TECHNOLOGY
    • CMOS TECHNOLOGY
    • OPTICAL SENSING TECHNOLOGY
    • OTHER TECHNOLOGIES
    • INTRODUCTION
    • LEVEL SENSORS
    • TEMPERATURE SENSORS
    • FLOW SENSORS
    • GAS SENSORS
    • POSITION SENSORS
    • PRESSURE SENSORS
    • FORCE SENSORS
    • HUMIDITY AND MOISTURE SENSORS
    • IMAGE SENSORS
    • INTRODUCTION
    • CONTACT SENSORS
    • NON-CONTACT SENSORS
    • INTRODUCTION
    • MANUFACTURING
    • OIL & GAS
    • CHEMICALS
    • PHARMACEUTICALS
    • ENERGY & POWER
    • MINING
    • INTRODUCTION
    • NORTH AMERICA
    • EUROPE
    • ASIA PACIFIC
    • ROW
    • OVERVIEW
    • STRATEGIES ADOPTED BY MAJOR PLAYERS, 2020-2023
    • MARKET SHARE ANALYSIS, 2022
    • REVENUE ANALYSIS, 2018-2022
    • COMPANY EVALUATION MATRIX, 2022
    • COMPANY FOOTPRINT
    • START-UPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX, 2022
    • COMPETITIVE SCENARIOS AND TRENDS
    • KEY COMPANIES
    • OTHER PLAYERS
    • DISCUSSION GUIDE
    • KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
    • CUSTOMIZATION OPTIONS
    • RELATED REPORTS
    • AUTHOR DETAILS
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