Press release
Industrial Sensors Market 2020 By Industry Growth & Trend Report to 2025
Industrial Sensors Market
The high cost of installation & maintenance of technological solutions is the major factor restricting the industrial sensors market growth. The SMBs with low capital investment on machinery face difficulty in the implementation of connected machines. These enterprises are also concerned with the increase in maintenance costs with the adoption of sensor technologies. Moreover, the increase in the chances of data loss during sensor failures is also a major pitfall in market growth.
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Industrial Sensors industry, By Communication Technology
• Flow sensor
• Force sensor
• Gas sensor
• Humidity & moisture sensor
• Image sensor
• Level sensor
• Position sensor
• Pressure sensor
• Temperature sensor
Industrial Sensors industry, By Application
• Chemicals
• Energy & power
• Manufacturing
• Mining
• Oil & gas
• Pharmaceuticals
• Others
High spending capacity and disposable incomes in countries, such as the U.S., Canada, the UK, Germany, China, and Japan, are the major factors for rapid industrialization around the world. The increase in industrial operations and the demand for mass production encourage industries switch to automated technologies driving industrial sensors market growth.
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The Asia Pacific industrial sensors market will grow at a substantial rate over the coming years owing to the strong presence of a large number of electronics manufacturers in the region. This will result in the reduction of the prices of electronic components, allowing the market players to easily procure raw materials at low costs. The high availability of component providers and raw material suppliers in the region offers a strong bargaining power to industrial sensors market players. Moreover, companies in this region are engaged in mergers & acquisitions to expand their business presence and product offerings. For instance, in December 2018, Hitachi Ltd., a Japanese conglomerate, announced its plans to buy the power grid division for USD 11 billion deal with Swiss AB
Key players in industrial sensors market include Panasonic Corporation, Rockwell Automation, Inc., Microchip Technology Pvt. Ltd., Honeywell International Inc., Figaro Engineering Inc. , Amphenol Corporation, Bosch Sensortec GmbH, Texas Instruments Incorporated, ams AG., STMicroelectronics, NXP Semiconductors Inc., First Sensor AG, TE Connectivity Ltd., Siemens AG, Integrated Device Technology, Inc., Sensirion AG Switzerland, and Analog Devices, Inc., among others.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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