Industrial sensors play an important role in factory automation by monitoring and controlling industrial processes. Sensors are devices that help detect and respond to electrical or optical signals and transmit the resulting information to a monitoring system or operating controller. Some key applications of industrial sensors include temperature monitoring, pressure detection, proximity sensing, and level measurement.
The global Industrial Sensors Market is estimated to be valued at US$ 25.16 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The adoption of industrial Internet of Things (IoT) applications has witnessed a significant surge over the past few years. IoT technology helps connect industrial devices and machines to networks and provides real-time insights about manufacturing processes using sensors. This allows remote monitoring of equipment performance and predictive maintenance of machines. IoT also enables data collection from multiple sensors across processes and equipment, which helps optimize operations and reduce downtime. With the continued rise in digitization across industries, the demand for industrial sensors integrated with IoT platforms is expected to increase substantially during the forecast period. This will be a major factor driving the growth of the global industrial sensors market.
Segment Analysis
The global industrial sensors market size is dominated by the contact image sensors subsegment due to high demand. Contact image sensors are used widely in applications such as healthcare management systems, robotics, and automated guided vehicles where close monitoring, precision, and accuracy are required. These sensors help verify the presence or absence of objects and monitor processes with high resolution for quality control purposes.
Key Takeaways
The global industrial sensors market is expected to witness high growth. The global Industrial Sensors Market is estimated to be valued at US$ 25.16 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031.
The Asia Pacific region is expected to grow the fastest owing to rapid industrialization initiatives and increasing investments in industries such as automotive, healthcare, and manufacturing. China dominates the Asia Pacific industrial sensors market and accounts for over 30% of regional market share due to the large manufacturing sector.
Key players operating in the industrial sensors market are ClaroNav, Stryker, Brainlab AG, Parsis, Northern Digital Inc., Heal Force, Medtronic, Synaptive Medical, Bramsys Indústria e Comércio Ltd. These companies are focusing on new product launches and collaborations to gain market share. For instance, in 2022, Northern Digital inked a partnership with AiCure to integrate AiCure's artificial intelligence platform with Northern Digital's surgical navigation and robotics technologies to improve cancer treatment outcomes.
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The report covers the IoT sensors market’s segments- accelerometers, gyroscopes, magnetometer, pressure sensors, temperature sensors, light sensors, industrial IoT, consumer IoT, commercial IoT, wired network technology, wireless network technology, healthcare, retail, industrial, automotive, consumer electronics, and building automation.Explore Complete Report https://www.thebusinessresearchcompany.com/report/iot-sensors-global-market-reportIoT Sensors Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It covers all the regions, key developed countries and major emerging markets.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Request to get the sample of this report https://www.thebusinessresearchcompany.com/sample.aspx?id=2526=smpCompanies are increasingly investing in the development of IoT sensors with cheaper, smarter, and advanced technology.
As the adoption of IoT devices increases, there is a need to design IoT sensors that are small, cheap, and help the device consume less energy.
