Industrial Sensors Market 2020: Global Industry Analysis, Size, Share, Growth, Trends and Forecast To 2027

The global industrial sensors market size is projected to reach USD 33.56 billion by 2027, exhibiting a CAGR of 7.2% during the forecast period. Increasing adoption of the industrial internet of things (IIoT) by diverse entities will play an instrumental role in propelling the growth of this market, shares Fortune Business Insights™ in its report, titled “Industrial Sensors Market Size, Share & COVID-19 Impact Analysis, By Type (Temperature Sensor, Proximity Sensor, Pressure Sensor, Position Sensor, Motion Sensor, Level Sensor, Gas and Chemical Sensor, Humidity Sensor, Flow Sensor, Others), By End Use Industry (Discrete, Process), and Regional Forecast, 2020-2027”. IIoT forms the core of Industry 4.0 as the integration of IoT technologies in the manufacturing sector have made processes and operations more data-driven and therefore, more accurate. Several end-use industries are rapidly adopting IIoT solutions to optimize their businesses and enhance the efficiency and productivity of their resources. For example, in May 2018, Missouri-based BJC HealthCare deployed IoT-based RFID technology to track and manage thousands of medical supplies. Similarly, in 2019, Bosch equipped its Automotive Diesel System Factory in Wuxi, China with sensors armed with IIoT and Big Data analytics to monitor the overall production process. Industrial sensors are thus enabling manufacturers and technology providers to automate their activities and establish smart working systems at their plants and facilities.

Request a Sample Copy of the Global Market Research Report:

According to the report, the global market value stood at USD 19.29 billion in 2019. The salient features of the report include:

  • Detailed evaluation of all possible segments of the market;
  • In-depth assessment of the key players’ profiles and strategies;
  • Comprehensive analysis of the market trends, drivers, and constraints; and
  • Tangible regional insights and research into market opportunities.

Market Driver

Growing Presence of Industry 4.0 Startups to Aid Market Expansion

The proliferation of startups specializing in Industry 4.0 technologies is emerging as one of the most exciting factors augmenting the industrial sensors market growth. Manufacturers around the globe are actively searching for comprehensive solutions to bring about greater efficiency in their factory operations. To meet this urgent demand, several startups have emerged and are rapidly expanding. For example, Smart Industry Solutions, a Brazilian startup, develops information and operation technology solutions for industry 4.0 areas, encompassing activities in local factories to the end-use customer. Similarly, US-based Edge2Web offers ‘Director’, the company’s tool suite for building, testing, and operating advanced industrial functionalities. Startups are also engineering IIoT solutions and industrial sensors to address the all-important maintenance issues faced by factory managers. For example, Vibrobox, a startup based in Belarus, develops vibration sensors for automated prescriptive maintenance for industrial equipment. Thus, the birth of industry 4.0-focused startups will ensure a highly-dynamic growth trajectory for this market.

Regional Insights

Asia Pacific to Hold Dominant Market Share; North America & Europe to Grow Stably

With a size of USD 6.70 billion, Asia Pacific dominated the industrial sensors market share in 2019 on account of the rapid industrialization in China and India. Furthermore, factories in the region are displaying growing acceptance of smart industrial technologies to bring down their costs, reduce equipment downtime, and optimize production operations.

North America and Europe are expected to hold a substantial share of the market during the forecast period owing to the well-established operations of the regions’ electronic and automotive industries, where industrial sensors and other automation solutions have a widespread presence. Moreover, industries in these regions have been the early developers and adopters of industry 4.0 technologies, which bodes well for the market.

List of Key Companies Profiled in this Market Report:

  • Texas Instruments (Texas, United States)
  • TE Connectivity (Schaffhausen, Switzerland)
  • Siemens (Munich, Germany)
  • Safran Colibrys SA (Yverdon-les-Bains, Switzerland)
  • PCB Piezotronics, Inc. (United States)
  • Omega Engineering (Biel/Bienne, Switzerland)
  • Microchip (Arizona, United States)
  • Honeywell (North Carolina, United States)
  • Figaro Engineering Inc. (Osaka, Japan)
  • Analog Devices, Inc. (Massachusetts, United States)
  • Amphenol Corporation (Connecticut, United States)
  • Teledyne Technologies Incorporated (California, United States)
  • STMicroelectronics (Geneva, Switzerland)
  • Sensirion (Stäfa, Switzerland)
  • Rockwell Automation (Wisconsin, United States)
  • Panasonic (Osaka, Japan)
  • NXP Semiconductors (Eindhoven, Netherlands)
  • Integrated Device Technology (California, United States)
  • First Sensor (Berlin, Germany)
  • Bosch Sensortec (Reutlingen, Germany)
  • Ams AG (Premstätten, Austria)
  • ABB Ltd (Zürich, Switzerland)

Quick Buy – Industrial Sensors Market Research Report:

Other Exclusive Reports:

Smart Building Market 2021 | Trends, Growth Demand, Opportunities & Forecast To 2026

IGBT Module Market 2021 | Trends, Growth Demand, Opportunities & Forecast To 2026

LiDAR Market 2021| Trends, Growth Demand, Opportunities & Forecast To 2026

Connected Agriculture Market 2021: Global Industry Analysis, Size, Share, Growth, Trends and Forecast To 2026

Phosphoric Acid Fuel Cell Market 2021 | Trends, Growth Demand, Opportunities & Forecast To 2026

Medium Voltage Cable Market 2021: Global Industry Analysis, Size, Share, Growth, Trends and Forecast To 2028

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123ac
APAC : +91 744 740 1245
Email: [email protected]