Industrial Sensors Market 2019 – Latest Technological Advancement, Detailed Analysis of Current and Post-COVID-19 Scenario, SWOT Analysis Forecasts by 2026 | Rockwell Automation, Honeywell, Texas Instruments

Industrial Sensors Market Snapshot:

The industrial sensors market is estimated to grow at a CAGR of 7.52% during the forecast period (2019–2026) and reach an approx. value of USD 20.52 billion by 2026.

The current industrial environment, along with its associated systems, features various sensors, actuators, controllers, effectors, and control loops. Sensors act as the connecting element between the real and digital world and thus, play a vital role in implementing several industrial ideologies and policies. For instance, the trending Industrie 4.0 has been observed to develop sensor systems capable of capturing different measurements, raising the bar of innovation in the industrial sensor market. When it comes to applications in the industrial environment, the cost of industrially-suited sensor technology often hampers the implementation of innovative functionalities, making it difficult for potential new applications to be tapped.

Temperature and humidity sensors account for a substantial market share, on account of vital applications across several industry verticals, including automotive, consumer electronics, process industries, and healthcare. These sensors have been studied across mechanical, thermometer, and bimetal grounds to understand their growth prospects in industrial operations. Temperature and humidity sensors are evolving to smart sensors with features such as remote monitoring, wireless connectivity, and automatic calibration.

Level sensors are vital in industries such as food and beverage, therapeutic and household, manufacturing, agriculture, automotive, and white goods for level capacity and leak identification. With Industrie 4.0, these sensors are expected to witness significant growth opportunities. The prominent level sensors that find diverse applications include ultrasonic level sensors, capacitance level sensors, and optical level sensors.

Asia-Pacific comprises a number of emerging economies with rapidly growing industrial sectors such as manufacturing, mining, and oil and gas, among others, where industrial sensors find a multitude of applications for various purposes. Favorable policies and initiatives in the region drive the growth of these industrial verticals not only with economic contributions but also technological aspects. ‘Make In India’ and ‘Make In China’ are two such key initiatives driving the growth of the manufacturing sectors in the respective countries.

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The Major Prominent Players Covered in this Report:
Rockwell Automation, Honeywell, Texas Instruments, Amphenol Corporation, Panasonic, STMicroelectronics, First Sensor, Siemens, and E+E ELEKTROCNIK GES.M.B.H.

By Sensor, Level, Pressure, Humidity & temperature, Others
By Application, Manufacturing, Energy & power, Chemicals, Pharmaceuticals, Others

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Industrial Sensors in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Industrial Sensors market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Industrial Sensors and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Industrial Sensors. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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Key Questions Answered in The Report:
What will the Industrial Sensors market growth rate?
What are the key factors driving the global Industrial Sensors market?
Who are the key manufacturers in the Industrial Sensors market space?
What are the market opportunities, market risk, and market overview of the Industrial Sensors market?
What are sales, revenue, and price analysis of top manufacturers of the Industrial Sensors market?
Who are the distributors, traders, and dealers of the Industrial Sensors market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Industrial Sensors Industry?
What are sales, revenue, and price analysis by regions of Industrial Sensors industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Key Industrial Sensors Market Trends:
- The report identifies, determines, and forecasts the Global Industrial Sensors Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Industrial Sensors Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Industrial Sensors Market.

Operational Complexities to Drive Applications in Manufacturing Sector:
Industrial sensors find application in manufacturing, energy and power, chemical, and pharmaceutical sectors in resolving issues such as response dynamism and complex calculations. The manufacturing sector benefits the most from sensor technology on account of several operational complexities from both processes as well as discrete manufacturing. Specifically, industrial sensors are employed in the manufacturing sector to resolve the following issues.

Equipment and Environment Conditions: Concerns associated with part replacement, maintenance, operational failures, operational changes, and machine overheating or break down, which typically lead to loss of productivity, are mitigated with the use of industrial sensors.

Automating Logistics and Asset Management: Industrial sensors also help large manufacturing plants in tracking down the location of inventory, assets, vehicles, or even humans. This data can also be used by manufacturers to predict and confirm when the assets are supposed to be arriving and leaving the warehouse, retail stores, and distribution centers so as to be alerted of potential inventory theft.

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