The industrial sensors market is projected to be valued at USD 16.0 billion in 2018 and is likely to reach USD 21.6 billion by 2023, at a CAGR of 6.16% during the forecast period. The growth of this market is boosted by growing Industrial 4.0 and IIoT, surging wireless sensors market, and burgeoning demand for industrial robots. However, high implementation cost is restraining the growth of this market.
• Download PDF Brochure:-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=108042398
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=108042398
Level sensor to hold major share of industrial sensors market in 2018
Based on sensor, level sensor leads the industrial sensors market as major applications of level sensors, such as manufacturing and process industries, semiconductor manufacturing, automotive manufacturing, and aerospace and defense manufacturing, occupy a huge share in the industrial sensors market. Also, average selling price of level sensors is highest when compared with other types of sensors covered in this report.
Market for noncontact sensors to grow at higher CAGR during forecast period
Noncontact industrial sensors is a faster growing segment of the industrial sensors market. Increasing penetration of remote sensing and wireless sensing attributes to the growth of noncontact sensors in the industrial sensors market. The wireless sensors market is increasing due to factors such as increasing penetration in industrial automation applications; growing adoption of wearables in industrial facilities; emerging concepts, such as smart factory; and increasing applications in pharmaceuticals and mining industries and petroleum refineries.
APAC to account for largest market during forecast period
APAC is expected to hold the largest share of the industrial sensors market in 2018. APAC is the largest market for industrial sensors because of the presence of China in this region. China’s manufacturing output is the largest in the world. Therefore, China is among the world’s largest manufacturer and industrial producers. It is one of the major manufacturers of consumer electronics, automobiles, etc.
Key Market Players
A few major players operating in the industrial sensors market are Rockwell Automation (US), Honeywell (US), Amphenol Corporation (US), Texas Instruments (US), Panasonic (Japan), STMicroelectronics (Switzerland), First Sensor (Germany), and Siemens (Germany). Rockwell delivers a wide range of solutions and services for applications such as food & beverages, life sciences, oil & gas, mining, cement, metals, pulp & paper, and water & wastewater. The company offers start-to-end industrial services to its end users. The available solutions offer the company an advantage over its competitors for increased growth. The company adopts both organic and inorganic growth strategies. In the last 3 years, Rockwell Automation offered 2 products related to the industrial sensors segment.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments:
Post a Comment