Global Industrial Sensors Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Global Industrial Sensors Market Outlook

The global industrial sensors market size is projected to grow at a CAGR of 9.3% between 2024 and 2032.

Key Takeaways

Industrial sensors are devices used in industrial automation and they play a crucial role in modern industrial processes, enabling the detection, processing, analysis, and measurement of various parameters such as position, temperature, displacement, and motion in production sites. These sensors are essential for making products highly automatic, ultimately contributing to improved efficiency and cost savings in industrial operations.

Industrial sensors come in various types, including proximity sensors, temperature sensors, pressure sensors, and vibration sensors and they are designed to perform in extreme conditions, such as high or low temperatures, vibrations, and high humidity. The growth of the industrial sensors market is being driven by several factors, including the increasing adoption of Industry 4.0, the trend of industrial automation, and the need for predictive maintenance in various industries.

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Key Trends and Developments

Advancements in sensor technologies, rising demand for smart sensors, and growing focus on safety regulations are boosting the market growth

Global Industrial Sensors Market Trends

To improve operational effectiveness and lower maintenance costs, manufacturing services are integrating smart and wireless sensors in a variety of ways. These sensors are used all along the supply chain to keep an eye on the state of the machinery. They can monitor a wide range of parameters, including weight, temperature, speed, and operational failures as well as changes in operation, object movement, and valve status. Smart sensors are also capable of tracking oxygen levels and the heart rate of employees to ensure their safety and well-being.

Additionally, the integration of smart sensors enables the automation of logistics industry by using GPS for tracking the fleet’s location. These factors are indicative that the industrial sensors market outlook in the forecast period will be experiencing an upward trajectory.

The use of wireless sensors in predictive maintenance enables the detection of wear, bearing misalignments, imbalances, and other deficiencies that lead to machine failures and unexpected stops in the production line. In addition, electronics sector continues to drive innovation, demanding smaller, more energy-efficient sensors to support the industrial sensors market development in context of smart devices.

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Market Segmentation

Global Industrial Sensors Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Manufacturing industry is expected to hold a significant market share due to wide adoption of smart sensors for predictive maintenance

The manufacturing industry is anticipated to lead the industrial sensors market share in the forecast period, followed by the pharmaceutical and mining industries. The rising emphasis on quality control in manufacturing has led to increased demand for industrial sensors. Furthermore, the adoption of IoT sensors in manufacturing facilities has facilitated remote plant monitoring, enhanced worker safety, and reduced maintenance costs through early failure detection. The ongoing transition to Industry 4.0 and the increasing prevalence of factory automation have further heightened the importance of industrial sensors in the manufacturing sector.

On the other hand, use of industrial sensors in the pharmaceutical industry leads to enhanced product safety and improved environmental monitoring. The leakage of dangerous liquids or gases, and equipment failure can be reduced by introducing a network of connected devices with monitoring sensors, such as smoke and temperature sensors.

Furthermore, the utilisation of industrial sensors in the mining industry also offers a multitude of benefits, aiding the industrial sensors market development. By deploying IoT sensors in mining equipment, crucial data regarding machinery health, operational conditions, temperature, contamination levels, fluid levels, and vibration intensity can be obtained, enabling predictive maintenance to ensure worker safety and reduce maintenance costs.

Pressure sensors are in high demand across a wide range of domains, such as transport, energy, and manufacturing

Sensors enable monitoring and analysis of the different types of changes that take place on an industrial manufacturing site. Different types of industrial sensors are being employed across various end-uses, such as to sense pressure, temperature, infrared radiation, level, proximity, light, and smoke.

A pressure sensor is employed in different types of industrial automation settings, including water conservancy and hydropower, intelligent buildings, railway transportation, aerospace, production automation, petrochemical, military, power, oil wells, machine tools, shipbuilding, pipelines, and others. Applications across such a wide range of domains are expected to drive the industrial sensors market.

Temperature sensors, including infrared sensors, are extensively utilised across various industries. These sensors are particularly employed in domains such as medicine, military, space technology, and environmental engineering. Temperature sensors are valued for their ability to measure temperature without contact, making them suitable for applications where quick, safe, and non-invasive temperature measurement is required, such as in industrial automation processes, gas analysis, and environmental monitoring. In addition, infrared sensors are used for proximity detection, night vision, and item counting. They offer advantages such as non-contact measurement and fast response, making them a popular choice in industrial production processes. These factors can increase temperature sensors market size in the forecast period.

Furthermore, as per industrial sensors market report, smoke sensors are used in HVAC, construction site monitoring, and industrial units where chances of gas leakage and fire are high. Level sensors are chiefly employed in automobile and manufacturing segments, and other applications include household appliances such as ice makers in the refrigerator and washing machines. Proximity sensors help detect displacement of objects and are employed extensively in aviation, aerospace, and industrial domains. These sensors also find applications in restaurants, hotels, automatic doors, garages, and automatic hot air blowers. Proximity sensors are also used in security and anti-theft solutions in places that store valuable items, such as museums and vaults. These industrial sensors and their wide employment have collectively contributed to increase the industrial sensors market value.

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Competitive Landscape

Market players are engaged in growth strategies, such as expanding their product offerings, pursuing mergers and acquisitions, and forming partnerships

Other key players in the global industrial sensors market include Omega Engineering, Inc., Microchip Technology Inc, Panasonic Industry Co., Ltd., ams-OSRAM AG, STMicroelectronics International N.V., Renesas Electronics Corporation, Infineon Technologies AG, and TE Connectivity Ltd., among others.

Global Industrial Sensors Market Analysis by Region

Asia Pacific is one of the prominent regions due to the rapid industrialisation in emerging economies

Asia Pacific industrial sensors market is projected to maintain its dominance due to rapid industrialisation and urbanisation in emerging economies such as India, Japan, China, and South Korea, which are investing heavily in the development of smart manufacturing, smart cities, and smart transportation. Moreover, the presence of major industrial sensor manufacturers and suppliers in this region, such as Omron Corporation, Panasonic Corporation, Keyence Corporation, and Honeywell International Inc., also contributes to the market growth.

North America is anticipated to see substantial growth in the industrial sensors market over the course of the forecast period. This is due to the growing use of cutting-edge technologies like artificial intelligence, machine learning, cloud computing, and big data analytics across a range of industrial sectors, including automotive, aerospace and defence, chemical, and pharmaceutical. The presence of key players such as Rockwell Automation Inc., Emerson Electric Co., Sensata Technologies Inc., and Texas Instruments Inc., as well as the supportive government policies and initiatives for promoting industrial innovation and digital transformation, also boost the market growth in this region.

Europe is another important region as per, sensors market overview. The growth in this region is driven by the increasing demand for industrial sensors in various end-use industries, such as food and beverage, automotive, metal and mining, power and energy. Germany, France, the UK, and Italy are the major countries contributing to the industrial sensors market growth in this region.

Key Highlights of the Report