The industrial sensors market is expected to be valued at USD 29.0 billion by 2025; it is projected to register a CAGR of 9.8% between 2020 and 2025. Key factors driving industrial sensors market include growing popularity of industrial 4.0 and IIoT, increasing use of force sensors in the manufacturing of automobiles, and increasing demand for industrial robots.
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Based on the sensors, the industrial sensors market has been segmented into level sensors, temperature sensors, flow sensors, position sensors, pressure sensors, moisture and humidity sensors, image sensors, and gas sensors. The level sensors segment led the industrial sensors market in 2019. The large share of the segment is due to its major application areas, such as in the manufacturing and process industries, semiconductor manufacturing, automotive manufacturing, and aerospace and defense manufacturing.
Based on the type, the industrial sensors market has been segmented into contact and noncontact. Contact type industrial sensors is the leading segment of the industrial sensors market in 2019. Contact type industrial sensor is a traditional technology and is, therefore, a mature market. The noncontact industrial sensors market is expected to grow at a higher CAGR during the forecast period. The growth of the noncontact type sensors market is attributed to the increasing penetration of remote monitoring and wireless sensor technologies.
Based on the end-use industry, the industrial sensors market has been divided into 6 major end-use industries of industrial sensors—manufacturing, chemical, oil & gas, pharmaceutical, energy & power, and mining. The market for pharmaceutical is expected to register the highest CAGR during the forecast period as the pharmaceutical industry operates in an environment with strict requirements on safety, accuracy, and sterility.
Among all regions, APAC and North America is expected to register the highest growth in the industrial sensors market during the forecast period. The industrial sensors market in APAC held the largest share in 2019 and is expected to be the largest market for industrial sensors as China’s manufacturing output is the largest in the world and is one of the major manufacturers of consumer electronics, automobiles, and so on. North America is expected to grow at the fastest rate during the forecast period owing to the high adoption of the Industrial Internet of Things (IIoT) and Industry 4.0 in factories, specifically in the US.
Rockwell Automation (US), Honeywell (US), Texas Instruments (US), Siemens (Germany), Bosch Sensortec (US), Panasonic (Japan), STMicroelectronics (Switzerland), First Sensor (Germany), Amphenol Corporation (US), Integrated Device Technology (US), TE Connectivity (Switzerland), Omega Engineering (US), Sensirion (Switzerland), Ams AG (Austria), Microchip (US), NXP Semiconductors (Netherlands), Teledyne Technologies Incorporated (US), Figaro Engineering inc (Japan), and Safran Colibrys SA (Switzerland) are a few major companies dominating the industrial sensors market.
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