November 11, 2019
According to the latest study titled ‘Global Industrial Sensor Market Analysis By Sensor Type (Level, Image, Gas, Pressure, Position, Force, Flow, Temperature, Humidity), By Positional Type (Contact, Non-Contact), By End User, By Region, By Country (2019 Edition): Opportunities and Forecast (2013-2023)’ available with Market Study Report LLC, the global industrial sensor market is estimated to grow with a CAGR of 5.47% through the year 2023.
Industrial sensors are used to monitor various parameters in an operation and are vital for optimizing the overall efficiency of industry. Factors such as growth in energy segment and rapid industrial expansion driven by industrial revolution 4.0 will boost the demand in industrial sensor market. Moreover, shifting focus of manufacturers towards integrating IOT and other such technologies with industrial sensors will further augment the market growth.
The study analyzes the competitive landscape of industrial sensor market using SWOT analysis and provides details about the revenue shares for each manufacturer and segment. It contains information about the market dynamics and extends strategic recommendations for business expansion as well.
Based on sensor type, the industrial sensor market is segmented into image sensor, level sensor, gas sensor, position sensor, pressure sensor, force sensor, temperature sensor, flow sensor, humidity sensor, and others. While based on positional type, the industry is categorized as contact and non-contact. Speaking of end user spectrum, the industrial sensor market is split into power, chemicals, oil & gas, water and wastewater, manufacturing, pharmaceuticals, and mining.
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Considering the geographical landscape, the global industrial sensor market is fragmented into regions including Europe, Americas, APAC, Middle East Africa, and rest of the world, with key focus on countries like, Canada, Brazil, United States, Mexico, Germany, Italy, France, United Kingdom, Japan, China, India, Indonesia, South Korea, Saudi Arabia, South Africa, and Nigeria. As per the report, Asia Pacific industrial sensor market is expected to witness substantial rise over the forecast timeframe, owing to growing industrialization in the region.
The key players of industrial sensor market are Emerson Electric Corp., Rockwell Automation, Siemens AG, ABB Ltd., Honeywell International, Schneider Electric, Integrated Devices Technology, Yokogawa, and First Sensors AG.
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