Global Sensors and Actuators Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022-2027)

Market Overview

The global sensors and actuators market is expected to register a CAGR of 8.24% over the forecast period (2022 - 2027). The market across the world is growing owing to the demand for factory automation applications. The COVID-19 pandemic has significantly accelerated the longstanding trend toward factory automation.

• The factory automation industry has been revolutionized by combining the digital and physical aspects of manufacturing, including sensors and actuators, which aim to deliver optimum performance. Further, the focus on achieving zero waste production and shorter time to market has augmented the sensors and actuators market growth.
• The rise in automation of production systems in both discrete and process industries has increased the demand for components capable of providing critical data related to the production process. These sensors facilitate process control in factories by detecting the presence and position of metal objects.
• Electric actuators, a standard option for various applications across industries, including IoT, convert energy into mechanical torque. Electric energy is considered less noisy in operation than other actuator types. Electric actuators don't require fluid to run, and they offer high-control precision positioning owing to programmability. These actuators are poised to witness increasing demand in the near future due to their advantages over pneumatic actuators.
• Manual setup and adjustment are required for pneumatic actuators, and it is relatively difficult to get precise feedback on their speed and position. In contrast, the encoder is embedded into the electric actuator enabling more precise movement.
• Miniaturization has been driving the sensors and actuators market, supported by the development of new sensor and actuator modalities by leveraging the available semiconductor expertise.

Scope of the Report

Sensors and actuators generally work together to automate and streamline industrial processes. A sensor is an electrical instrument that monitors and measures physical aspects of the environment and sends electrical signals to a control center when specific pre-determined conditions are detected. Sensors turn physical inputs into electrical signal output. Actuators receive electrical signals from control modules and turn them into physical outputs.

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Key Market Trends

Emergence of Automation and Industry 4.0

• Sensors and actuators are an integral part of the industrial automation system as they help achieve precision and efficiency. The need for motion control technologies using sensors and actuators plays a significant role in the factory and industrial automation systems.
• SCADA (supervisory control and data acquisition) components include sensors and actuators. SCADA systems include components deployed in the field to collect real-time data and related systems to allow data collection and enhance industrial automation.
• Servo motors have become an essential component for realizing factory automation where the servo motor itself functions as a sensor and the traditional high-speed and high-precision performance.
• Moreover, industrial robots have been increasingly utilized in industrial automation. Sensors and actuators are one of the key components of these robots. China, the United States, and Japan are at the forefront of industrial robots adoption. In response to the growing demand, market players also introduce robot-specific products.
• For instance, in April 2022, Kollmorgen announced a new TBM2G series of frameless servo motors having features that simplify the design of collaborative, industrial, aerospace and defense, and other robots while offering better performance in a lighter and more compact package.

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