Press release
Industrial Automation Sensors Market Set to Surpass $22.59 Billion by 2029-Exclusive Report by Meticulous Research®
The report projects a remarkable growth trajectory for the industrial automation sensors market, estimating it to reach a substantial value of $22.59 billion by 2029, with a robust CAGR of 9.6% from 2022 to 2029.
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Market Overview
The escalating adoption of Industry 4.0 and IIoT in manufacturing, coupled with the burgeoning demand for smart sensor-enabled wearable devices, drives the growth of the industrial automation sensors market. Additionally, advancements in industrial sensors technology and the adoption of predictive maintenance further propel market expansion
Impact of COVID-19 on the Industrial Automation Sensors Market
The outbreak of the COVID-19 pandemic significantly impacted global economies and industries, including manufacturing operations. Supply chain disruptions, production delays, and lockdown measures led to considerable challenges for the industrial automation sensors market. However, the market is poised for recovery, with various segments expected to rebound in the coming years.
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Key Findings
Sensor Type: The level sensors segment is anticipated to dominate the market, driven by the need for accuracy, ease of calibration, and efficient monitoring of liquids and bulk solids.
Type: Contact sensors are projected to hold the largest share, owing to their role in promoting security in industrial operations, with technologies including magnetoresistive, vibratory probe, and more.
Mode of Automation: Semi-automatic systems are expected to lead, offering process improvements while retaining operator adaptability.
End User: The oil & gas sector is poised to command the largest share, leveraging automation sensor technologies to enhance decision-making and performance efficiency.
Geography: Asia Pacific is forecasted to hold the largest market share, driven by rapid industrialization, technological advancements, and government initiatives supporting automation.
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Key Players
Leading players in the industrial automation sensors market include Amphenol Corporation, Honeywell International Inc., Infineon Technologies AG, NXP Semiconductors, Renesas Electronics Corporation, Rockwell Automation, Inc., Siemens AG, STMicroelectronics International N.V., TE Connectivity Ltd., Texas Instruments Incorporated, Dwyer Instruments LTD., Bosch Sensortec GmbH, ABB Ltd, Analog Devices, Inc., and Sensirion AG.
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