Industrial Automation Sensors Market Set to Surge to $22.59 Billion by 2029-Exclusive Insights Unveiled by Meticulous Research®

[Redding, California, 08-03-2024] - Meticulous Research®, a leading provider of meticulous market intelligence, announces the release of its latest comprehensive research report titled "Industrial Automation Sensors Market by Sensor Type (Level Sensors, Flow Sensors), Type (Contact Sensors, Non-contact Sensors), Mode of Automation, End User, and Geography-Global Forecasts to 2029". The report forecasts an impressive growth trajectory for the industrial automation sensors market, projecting a valuation of $22.59 billion by 2029, with a robust CAGR of 9.6% from 2022 to 2029.

Key Drivers of Market Growth:

The exponential growth of the industrial automation sensors market can be attributed to:

Increasing adoption of industry 4.0 and IIoT in manufacturing.

Surge in demand for smart sensor-enabled wearable devices.

Technological advancements in industrial sensors.

Adoption of predictive maintenance strategies.

Rising demand for smart sensors in automobile manufacturing to enhance safety standards.

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Challenges and Opportunities:

Despite its promising growth trajectory, the market faces challenges such as high installation costs and the need for precise performance requirements. However, these challenges present opportunities for innovation and advancement within the industry, fostering a competitive landscape driven by technological excellence.

Based on type, in 2022, the contact sensors segment is expected to account for the largest share of the industrial automation sensors market. The large share of this segment is attributed to the benefits provided by contact sensors, such as the monitoring of doors, windows, and other access points to promote security in industrial operations. Contact level sensors involve physical contact between the device (comprising contact type industrial sensor) and media. The technologies used in contact type level sensors are magnetoresistive, vibratory probe, hydrostatic, magnetic and mechanical float, pneumatic, rotating paddle, resistive chain, and weight and chain. The most common contact type sensors include temperature, pressure, force, and flow sensors.

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Based on mode of automation, in 2022, the semi-automatic system segment is expected to account for the largest share of the industrial automation sensors market. Semi-automatic systems are widely adopted since they are beneficial for companies that emphasize improving their manufacturing process but cannot eliminate operator assistance. The components used in these systems benefit from automation sensors, but some aspects of the assembly are too difficult to automate fully and reliably. Manufacturing companies adopt semi-automatic machines to make significant process improvements while retaining the adaptability of an operator's input for additional manual inspection.

Based on end user, in 2022, the oil & gas segment is expected to account for the largest share of the industrial automation sensors market. The large share of the segment is attributed to the implementation of automation sensor technologies to improve decision making, troubleshooting, and performance efficiency in oil & gas exploration activities. Some of the major areas highly influenced by automation sensors in the oil & gas sector include drilling operations, diagnostics & inspections, pipeline monitoring systems, weather monitoring systems, and pressure & flow systems. Drilling accounts for one of the major areas with automation due to its expensive process and high safety risks. Furthermore, companies are increasingly deploying automated pipeline monitoring systems due to the increasing number of pipeline thefts.

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Market Segmentation and Geographic Insights:

The report delves into market segmentation based on sensor type, type, mode of automation, end-user, and geography. Notably, the Asia-Pacific region emerges as a pivotal market leader, buoyed by rapid industrialization, technological advancements, and favorable government initiatives.

Leading Players in the Industry:

Key players driving innovation and shaping 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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