Industrial Sensors Market Growing at the Fastest Rate in APAC and North America Region

 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.

Don’t miss out on business opportunities in Industrial Sensors Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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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.

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Which are the major product types in Temperature Sensor Market? How huge is the opportunity for their growth in the next five years?

 According to the new research report, "Temperature Sensor Market by Product Type (Thermocouples, RTDs, Thermistors, Temperature Sensor ICs, Bimetallic, Infrared, and Fiber Optic Temperature Sensors), Output, End-user Industry, and Region – Global Forecast to 2027" is projected to grow from USD 6.3 billion in 2020 to USD 8.8 billion by 2027, recording a CAGR of 4.8%. The industry growth is driven mainly by increasing penetration of temperature sensors in advanced and portable healthcare equipment, growing demand for temperature sensors in the automotive sector, and rising adoption of home and building automation systems.

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The contact type temperature sensor segment is projected to hold a larger share in the temperature sensor market during the forecast period. Contact temperature sensors are used widely in industries such as chemicals, consumer electronics, oil & gas, energy & power, and automotive, because of their low cost, wide temperature ranges, and high accuracy.

Non-contact temperature sensor to witness a higher CAGR during the forecast period

The non-contact temperature sensor is projected to record the higher CAGR in the temperature sensor market from 2019 to 2027. Non-contact sensors measure the surface temperature of a body or an object to be identified without any physical contact between the sensor and the object. These temperature sensors are mainly used for small, moving, and inaccessible objects/sources/devices.

Digital output to hold the largest share in the temperature sensor industry during the forecast period

The temperature sensor comprises analog and digital outputs. The digital output segment is projected to hold a larger share in the temperature sensor market during the forecast period. Temperature sensors with digital output have several advantages over sensors with analog output and are especially suited for remote applications. Digital temperature sensors find use in medical, aerospace, test and measurement equipment, and industrial automation.

Food & beverages end-user industry to witness the highest CAGR during the forecast period

The food & beverage end-user industry is projected to record the highest CAGR in the temperature sensor market from 2019 to 2027. Temperature monitoring and control is required for quality assurance during production, storage, and transit. Temperature sensors are particularly used for monitoring temperature according to the stringent rules & regulations for complicated processes in the food end-user industry, such as brewing, bottling, fermentation, storage, emulsification, piping, canning, and pasteurization.

Absolute humidity sensor to hold the larger share in the humidity sensor industry during the forecast period

The humidity sensor comprises an absolute humidity sensor and a relative humidity sensor. The absolute humidity sensor segment is projected to hold a larger share in the humidity sensor market during the forecast period. Absolute humidity sensors, supported by two NTC thermistor elements, measure the absolute humidity by measuring the difference in thermal conductivity of dry air and the air containing water vapor. These humidity sensors are used for measuring humidity in HVACs, fax machines, printers, automotive, weather stations, refrigerators, and food processing units.

Expanding automobile & industrial manufacturing sector to drive the demand for temperature sensors in APAC during the forecast period

The temperature sensor market in APAC is projected to grow at the highest CAGR during the forecast period. China, India, South Korea, and Japan are the major contributors to the growth of the temperature sensor industry in APAC.

Expanding automobile and industrial manufacturing, in particular, is generating massive demand for temperature sensors. Also, robust demand for consumer equipment, including portable healthcare electronics and white goods, is expected to foster the demand for temperature sensors. Furthermore, the increasing adoption of automated technologies across diverse industries, especially in automotive and food & beverages, is likely to generate demand for temperature sensors in APAC. Other factors driving the temperature sensor market in APAC include escalating demand for temperature sensors from the overseas markets of North America and Europe.

Key players operating in the temperature sensor market include Honeywell (US), TE Connectivity (Switzerland), Texas Instruments (US), Endress+Hauser (Switzerland), Siemens (Germany), Texas Instruments (US), Dwyer Instruments (US), Maxim Integrated (US), WIKA Instrument (Germany), Amphenol (US), and Emerson (US). The majority of the companies focus on organic and inorganic growth strategies such as product launches and developments, mergers and acquisitions, agreements, contracts, partnerships, collaborations, and expansions to increase their revenue.

Don’t miss out on business opportunities in Temperature Sensor Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441