$22.59 Billion Industrial Automation Sensors Markets - Global Forecast to 2029
Dublin, March 07, 2023 (GLOBE NEWSWIRE) -- The "Industrial Automation Sensors Market by Sensor Type, Type, Mode of Automation, End User, and Geography - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The industrial automation sensors market is projected to reach $22.59 billion by 2029, at a CAGR of 9.6% from 2022 to 2029.
The growth of this market is attributed to the rising adoption of industry 4.0 and IIoT in manufacturing, the surging demand for smart sensor-enabled wearable devices, and the growing technological advancements in industrial sensors. Furthermore, the adoption of predictive maintenance and the increasing demand for smart sensors from automobile manufacturers to enable safety are expected to offer significant opportunities for the growth of this market.
Based on sensor type, the industrial automation sensors market is segmented into level sensors, temperature sensors, flow sensors, gas sensors, position sensors, pressure sensors, force sensors, humidity & moisture sensors, and image sensors. In 2022, the level sensors segment is expected to account for the largest share of the industrial automation sensors market. A level sensor is used to detect and measure the level of liquids, bulk solids, and other fluids.
The level measurement is either continuous or in the form of point values. The large market share of this segment is attributed to various factors, such as the need for accuracy, appearance, and response rate, ease of calibration of instruments, size of the instrument, and monitoring and controlling of continuous or point level. However, the gas sensor segment is expected to grow at the highest CAGR during the forecast period.
Based on type, the industrial automation sensors market is segmented into contact sensors and non-contact sensors. In 2022, the contact sensors segment is expected to account for the largest share of the industrial automation sensors market. However, the non-contact sensors segment is expected to grow at the highest CAGR during the forecast period.
The growth of this segment is attributed to the various advantages offered by non-contact sensors over contact devices, such as spontaneity, reliability, longevity, and performance consistency. Non-contact sensors are used for process and control, automation, manufacturing, engineering, and other operations across many industries, driving the growth of this segment.
Based on mode of automation, the industrial automation sensors market is segmented into semi-automatic systems and fully-automatic systems. The fully-automatic system segment is expected to grow at the highest CAGR during the forecast period.
The increasing focus on maintaining hygiene and food safety and the need to boost production capabilities, minimize human interventions, and increase the ROI are expected to propel the demand for fully-automatic systems in the industrial automation sensors market.
Based on end user, the industrial automation sensors market is segmented into oil & gas, automotive, food & beverage, semiconductors & electronics, chemicals & materials, consumer goods, mining & metals, power, pharmaceuticals & biotech, machines & tools, paper & pulp, aerospace & defense, and other end users. The automotive segment is expected to grow at the highest CAGR during the forecast period.
The growth of this segment is attributed to the increasing acceptance of IoT sensors in processing plants and manufacturing. In addition, the IoT-based industrial automation sensors allow manufacturers to monitor plant sites remotely, improve the safety of industrial assets and workers, and optimize operational efficiency. Integrating these industrial sensors in manufacturing services helps decrease maintenance costs by achieving early fault detection.
Based on geography, North America is expected to record the highest CAGR during the forecast period. The high market growth in North America is driven by factors such as the increasing use of IoT devices & communication networks in the manufacturing and energy industries; the high demand for sensors in different end-use industries such as healthcare, textile, oil and gas, packaging, and automotive industries; the presence of strong automotive and electronic industries; high investments in technology; early adoption of advanced technologies; the increasing investments by key players such as Rockwell Automation, Honeywell International Inc., and Omega Engineering to improve the accuracy and performance of industrial automation sensors; and a large number of technologically enhanced manufacturing facilities.
Key Questions Answered in the Report:
Which are the high-growth market segments in terms of sensor type, type, mode of automation, end user, and geography?
What is the historical market size of the industrial automation sensors market?
What are the market forecasts and estimates for the period 2022-2029?
What are the major drivers, restraints, opportunities, and challenges in the industrial automation sensors market?
Who are the major players in the market, and what are their market shares?
Who are the major players in various countries?
How is the competitive landscape for the industrial automation sensors market?
What are the recent developments in the industrial automation sensors market?
What are the different strategies adopted by the major players in the market?
Which are the high-growth countries in the industrial automation sensors market?
Who are the local emerging players in the industrial automation sensors market, and how do they compete with other players?
Market Drivers: Impact Analysis (2022-2029)
Rising Adoption of Industry 4.0 and IIOT Technologies among Manufacturing Industries
Surging Demand for Smart Sensor-Enabled Wearable Devices
Technological Advancements in Industrial Sensors
Market Restraints: Impact Analysis (2022-2029)
High Cost of Installing Sensor Networks
Market Opportunities: Impact Analysis (2022-2029)
Use of Smart Sensors for Predictive Maintenance
Increasing Utilization of Smart Sensors in the Automotive Industry
Market Challenges: Impact Analysis (2022-2029)
Developing Advanced Sensors as per Precise Performance Requirements
Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
Honeywell International Inc.
Infineon Technologies AG
Renesas Electronics Corporation
Rockwell Automation Inc.
STMicroelectronics International N.V.
TE Connectivity Ltd.
Texas Instruments Incorporated
Dwyer Instruments LTD.
Bosch Sensortec GmbH
Analog Devices Inc.
Industrial Automation Sensors Market, by Sensor Type
Humidity & Moisture Sensors
Industrial Automation Sensors Market, by Type
Industrial Automation Sensors Market, by Mode of Automation
Industrial Automation Sensors Market, by End User
Oil & Gas
Food & Beverage
Semiconductors & Electronics
Chemicals & Materials
Mining & Metals
Pharmaceuticals & Biotech
Machines & Tools
Paper & Pulp
Aerospace & Defense
Other End Users
Industrial Automation Sensors Market, by Geography
Rest of Asia-Pacific (RoAPAC)
Rest Of Europe (RoE)
Rest of Latin America (RoLATAM)
Middle East & Africa
Rest of the Middle East & Africa (RoMEA)
For more information about this report visit https://www.researchandmarkets.com/r/9wv7am
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