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Growing interest towards industry 4.0

VANCOUVER, BC, CANADA, January 27, 2022 /EINPresswire.com/ -- industrial sensors market size is expected to reach USD 38.82 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to increasing demand for sensors across different industrial verticals, including chemicals, manufacturing, oil & gas, pharmaceuticals, mining, and energy & power to maximize operational efficiency of automated equipment. Improved asset tracking and remote monitoring abilities of sensors have increased their demand across different industrial verticals.

Increasing utilization of various industrial sensors such as temperature sensors, image sensor, position sensors, and humidity and moisture sensors to ensure monitoring and transparency of assets throughout the supply chain is expected to drive growth of the industrial sensors market during the forecast period. Moreover, increasing investment of industrial sensor manufacturers to enhance performance and accuracy of industrial sensors is contributing to growth of the industrial sensors market.

Growing application of Industry 4.0 in supply chains is expected to increase adoption rates of industrial sensors going ahead. The growing trend of digital transformation of manufacturing and related industries and value creation processes is increasing popularity of Industry 4.0. Enhanced productivity through optimization and automation, and higher business continuity through advanced maintenance and monitoring possibilities are some key benefits which are increasing deployment of Industry 4.0 and demand for industrial sensors.

A novel report on global Industrial Sensors market is published by Emergen Research, offering current developments and emerging trends of the market. The report offers a comprehensive overview of the market along with details about market size, market share, revenue growth, and top companies. The report covers all crucial and essential information related to global Industrial Sensors market to help readers, investors, clients to gain a thorough understanding of the market and invest accordingly. Various advanced statistical tools such as SWOT analysis or Porter’s Five Forces are used in the report.

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The primary aim of the report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global Industrial Sensors market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.

Companies profiled in the global Industrial Sensors market: Rockwell Automation, Honeywell International Inc., Texas Instruments, Panasonic Corporation, STMicroelectronics, Siemens AG, Amphenol Corporation, Bosch Sensortec, TE Connectivity, and Omega Engineering.

Some Key Highlights From the Report

In January 2019, Rockwell Automation announced the latest addition to the smart sensing portfolio which is the new Allen-Bradley 42AF Right Sight M30 photoelectric sensor from Rockwell Automation. The high-performance sensor offers long-distance detection and increased environmental tolerance for industries such as material handling, food and beverage, and packaging.

Pressure sensor segment accounted for largest revenue share in 2020. Pressure sensors are widely utilized across various industrial verticals which includes chemical, military, energy, and manufacturing due to its reliability and high performance in any harsh environmental conditions.

Manufacturing segment revenue is expected to expand at a rapid CAGR during the forecast period. Increasing initiatives across the manufacturing industry and shift towards automation and away from traditional manufacturing and industrial activities with the help of modern smart technologies is expected to drive demand for industrial sensors in the manufacturing sector.

Asia Pacific accounted for largest revenue share contribution to the global industrial sensors market in 2020. Increasing initiatives of governments regarding technological advancements in the manufacturing sector in the region to enhance productivity is contributing to further and rapid developments across the manufacturing industry and resulting in increasing adoption of industrial sensors.

The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.

Emergen Research has segmented the global industrial sensors market on the basis of sensor, end-use, and region:

Sensor Outlook (Revenue, USD Billion; 2018–2028)

Temperature Sensor

Pressure Sensor

Level Sensor

Force Sensor

Flow Sensor

Humidity and Moisture Sensor

Gas Sensor

Position Sensor

Image Sensor      

End-use Outlook (Revenue, USD Billion; 2018–2028)

Chemical

Pharmaceutical

Oil & Gas

Manufacturing

Mining

Energy & Power

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Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Regional Outlook of Industrial Sensors Market:

North America

S.

Canada

Mexico

Europe

Germany

K.

Italy

France

BENELUX

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

A.E.

South Africa

Rest of MEA

Key Features of the Industrial Sensors Market Report:

The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats

The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares

Evaluation of key current and emerging market trends and growth prospects

It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth

Brief overview of industry with regards to research and development, technological advancements, and product development

In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario

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Eric Lee
Emergen Research
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