An industrial sensor is a device that detects and responds to the
input from the physical environment. The specific input could be
pressure, position, level, gas, temperature, image, humidity, flow, and
force.
The industrial sensors market is expected 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 driven by growing Industrial 4.0 and IIoT, surging wireless sensors market, and burgeoning demand for industrial robots.
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The industrial sensors market is expected 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 driven by growing Industrial 4.0 and IIoT, surging wireless sensors market, and burgeoning demand for industrial robots.
The major players in the
industrial sensors market have primarily adopted the strategy of product
launches to strengthen their product portfolios and expand the reach of
their offerings to new clients. For instance, in November 2018,
Honeywell launched a new connected gas detector designed to keep
industrial operations safe while making setup, maintenance, and
compliance reporting faster and easier by leveraging Bluetooth
connectivity. Besides product launches, agreements, partnerships, and
expansions are other key strategies adopted by companies to grow in the
industrial sensors market.
Rockwell Automation (US) and Honeywell (US) are among
the major players in the industrial sensors market. Rockwell Automation
is a well-known and trusted company in the industrial sensors market.
The company operates through 2 business divisions: Control Products
& Solutions and Architecture & Software. The company is an
industrial service provider with a strong portfolio including
consulting, integration, maintenance, and mechanical support for process
and discrete industries. The company had ~22,000 employees, worldwide
in 2017. The company has its presence in more than 80 countries, serving
industrial and commercial customers across the world. The company has 3
main strategic brands Allen-Bradley, Rockwell Software, and Rockwell
Automation. Other than these 3 brands, the company has ~20 extended and
acquired operating brands, namely, Anorad (US), CEDES (Germany),
Hengsheng (China), ICS Triplex (UK), TESCH (Germany), and Pavilion
Technologies (Africa).
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.
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Honeywell is one of the leading companies providing
industrial sensors. The company has a wide portfolio of industrial
sensors consisting of load sensor, torque sensor, pressure sensor,
displacement sensor, and accelerometer portfolio satisfying a variety of
customer needs. The company has a strong R&D capability. The
company has ~150 research and engineering facilities located the US,
India, Europe, and China. The company has invested ~5% of its sales in
R&D in 2016, 2015, and 2014. The company has ~38,000 granted and
pending patents. This offered the company to leverage the benefit from
innovation for changing customer demand.
APAC is expected to hold the largest share of the
industrial sensors market in 2018. China and Japan are the key countries
contributing to the growth of the industrial sensors market in APAC.
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. It is one of the major manufacturers of consumer
electronics, automobiles, etc.
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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
