Industrial Sensors Market Trends, Key Players and Forecast 2026


Posted November 21, 2022 by avinashgogawale14

With a CAGR of 9.1%, it is predicted that the Industrial Sensors Market would grow from USD 20.6 billion in 2021 to USD 31.9 billion by 2026.
 
By 2026, the Industrial Sensors Market is projected to grow at a CAGR of 9.1% and reach USD 31.9 billion. A few of the major reasons propelling this market are growing use of Industrial 4.0 and IIoT in manufacturing, soaring demand for wearables with smart sensors, and technological advancements in industrial sensors. The increasing demand from automakers for smart sensors that offer enhanced comfort and safety is one of the key opportunities for the growth of the industrial sensor market.

Leading Tier I manufacturers in the industrial sensors industry are Rockwell Automation (US), Texas Instruments (US), Honeywell International (US), Panasonic Corporation (Japan), STMicroelectronics (Switzerland), TE Connectivity (Switzerland), and Siemens AG (Germany). These vendors' manufacturing facilities are spread out over a variety of countries in Europe, North America, South America, and other parts of the world.

In the industrial hardware industry, it is projected that Level's sensors will command the most market share.

Two types of level sensors that are often used in industrial applications are ultrasonic level sensors and hydrostatic level sensors. Many industries, including oil and gas, industrial production, chemicals, and energy and power, use the non-contact ultrasonic level sensor. Contact type hydrostatic level sensors are extensively used in the food and beverage, water and wastewater treatment, and other industries. These sensors can be used in tanks or wells, placed on the outside of a vessel, or submerged in water. Since these sensors are frequently employed in industrial settings, it is expected that they will dominate the market.

Contact type sensors are predicted to hold the largest market share in the industrial sensor hardware sector during the forecast period.

Direct physical contact between the sensor and the medium is necessary for industrial contact type sensors used in contact level sensors. The technologies used in contact type level sensors include magnetoresistance, vibratory probe, hydrostatic, magnetic, and mechanical float, pneumatic, revolving paddle, resistive chain, and weight and chain. Contact sensors are offered by a number of well-known companies, including Texas Instruments, Dwyer Instruments, Honeywell (US), and TE Connectivity (US).

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Over the projected time frame, the manufacturing industry held the largest market share.

Sensors are one of the technologies that have gained a lot of traction in the manufacturing industry thanks to their advantages, such as boosting the performance and efficiency of assets and equipment at lower maintenance costs. Industry 4.0 has enabled cyber-physical systems to monitor physical production processes and make a range of decentralised judgments. Real-time communication between machines, sensors, devices, and people takes place in the physical system of the Internet of Things (IoT) network, increasing networked output.

Asia Pacific is likely to emerge as the region with the quickest growth over the predicted term.

Market expansion in APAC is being driven by China, India, and Japan. The expansion of smart city programmes in countries like China and India has also led to an increase in demand for industrial sensors from these countries. Industrial sensors are used in a number of industries, including consumer electronics, automotive, oil and gas, and chemical. Out of all these industries, manufacturing is predicted to have the largest adoption of industrial sensors.

Siemens AG (Germany), Amphenol Corporation (US), Dwyer Instruments (US), Bosch Sensortec (Germany), Texas Instruments (US), Panasonic Corporation (Japan), STMicroelectronics (Switzerland), and TE Connectivity (Switzerland) are a few of the major competitors in the industrial sensor market.

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The report's coverage includes comprehensive information on the key variables—including drivers, restraints, challenges, and opportunities—that have a significant impact on the development of the industrial sensor market. To give information about their business overviews, product offerings, key strategies, new product launches, partnerships, agreements, collaborations, and recent developments related to the industrial sensor market, a thorough analysis of the major industry players has been conducted.

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Last Updated November 21, 2022