Industrial Sensors Market | Growth, Trends, and Forecast (2020

ABOUT THIS REPORT
- Market Snapshot
- Market Overview
- Scope of the Report
- Key Market Trends
- Competitive Landscape
- Major Players
TABLE OF CONTENTS

Market Snapshot

Study Period:

2019-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

7 %

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Market Overview

The industrial sensors market is expected to register a CAGR of over 7% during the forecast period (2020 - 2025). The growing awareness of the industrial IoT in various emerging economies has increased the focus of various end-user industries toward industrial sensors.

Owing to the declining sensor and platform prices, widening the scope of applications for sensors, and significant R&D investment, the market studied is expected to witness lucrative growth over the forecast period.
The growing emphasis on the use of predictive maintenance and remote monitoring in industries across the world, is estimated to provide growth opportunities to the industrial sensors market.
Additionally, a greater number of factories are transitioning into digitally smart environments and re-focusing on transforming existing partial automated facilities into a completely automated and integrated facility. This is to boost quality, speed, and productivity. This is further anticipated to increase the demand for sensors, thus, necessitating higher levels of connections in automated machinery, through the deployment of a greater number of sensors.

Scope of the Report

Industrial sensors are devices which can detect events or changes in the environment and provide the corresponding output. Sensor components are not considered as part of the study scope. These sensors can sense physical input, such as light, heat, motion, moisture, pressure, or any other entity, and respond by producing an output on a display or transmit the information in electronic form for further processing. These defines major applications in flood and water level monitoring systems, environmental monitoring, traffic monitoring and controlling, energy saving in artificial lighting, remote system monitoring and equipment fault diagnostics, and precision agriculture and animal tracking.

By Sensing Type
		Flow
		Pressure
		Proximity (Area)
		Level Measurement
		Temperature
		Image
		Other Sensing Types

By End-user Vertical
		Mining, Oil, and Gas
		Manufacturing
		Chemical
		Pharmaceutical
		Other End-user Verticals

By Geography

North America
	United States
	Canada

Europe
	Germany
	United Kingdom
	France
	Rest of Europe

Asia-Pacific
	China
	Japan
	South Korea
	Rest of Asia-Pacific

Rest of the World
	Latin America
	Middle East & Africa

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Key Market Trends

Proximity Sensors to Hold Significant Share

The proximity sensor can detect the presence of objects within its vicinity without any physical contact. To sense objects, this sensor radiates a beam of electromagnetic radiation, usually in the form of infrared light and detects the reflection, to determine the object's distance from the sensor.
The touch-free user interface is driving the adoption of proximity sensors in automotive applications. Applications where these sensors can be used in automotive include infotainment system, keyless entry system, 3D gesture, and interior lighting control.
The increased adoption of industrial robots is another key factor driving the growth of the proximity sensor market. They are used in advanced robots for automobiles manufacturing, in construction industries to trace the distance in various applications, and in a military application for target detection as drones and aircrafts.

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Asia-Pacific to Witness the Highest Growth

Asia-Pacific is expected to hold a significant share in the market and witness the highest growth over the forecast period, owing to the increasing technological advancements as well as rapid industrialization.
Moreover, the region has China, which has the largest manufacturing output in the world. The country is gearing to develop core technologies, such as AI, chips, and sensors, as a part of its broader vision to integrate AI into the manufacturing sector. This positively affects the sensor market trends.
Furthermore, the rising electronics industry, burgeoning population, and the growing automobile industry are also responsible for fueling the industrial sensors market in the region.

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Competitive Landscape

The industrial sensors market is moderately fragmented, due to the presence of the established industry players in the market. These players are leveraging and incorporating advanced technologies, to offer diversified products catering to varied end-user industries.

Jan 2019 - Rockwell Automation launched Allen-Bradley 42AF RightSight M30 photoelectric sensor. The product is built with IO-Link capability that helps in integrating into the connected enterprise, by delivering data and diagnostics from the sensor directly into a control system.
Jan 2019 - Omron announced to launch a total of 2,512 models of its DC 3-Wire E2E NEXT Series Proximity Sensors. These sensors are equipped with OMRON's own Thermal Distance Control 2 and PROX3 hybrid circuitry technologies, which enable in sensing distances that are at least twice than their previous models.

Major Players

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1. INTRODUCTION
1. 1.1 Study Deliverables
2. 1.2 Study Assumptions
3. 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
1. 4.1 Market Overview
2. 4.2 Introduction to Market Drivers and Restraints
3. 4.3 Market Drivers
  1. 4.3.1 Growing Adoption of IoT Leading to Demand for Sensing Components
  2. 4.3.2 Growing Emphasis on the Use of Predictive Maintenance and Remote Monitoring
4. 4.4 Market Restraints
  1. 4.4.1 Cost and Operational Concerns
5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis
  1. 4.5.1 Threat of New Entrants
  2. 4.5.2 Bargaining Power of Buyers/Consumers
  3. 4.5.3 Bargaining Power of Suppliers
  4. 4.5.4 Threat of Substitute Products
  5. 4.5.5 Intensity of Competitive Rivalry
6. 4.6 Industry Value Chain Analysis
7. 4.7 Technology Snapshot
5. MARKET SEGMENTATION
1. 5.1 By Sensing Type
  1. 5.1.1 Flow
  2. 5.1.2 Pressure
  3. 5.1.3 Proximity (Area)
  4. 5.1.4 Level Measurement
  5. 5.1.5 Temperature
  6. 5.1.6 Image
  7. 5.1.7 Other Sensing Types
2. 5.2 By End-user Vertical
  1. 5.2.1 Mining, Oil, and Gas
  2. 5.2.2 Manufacturing
  3. 5.2.3 Chemical
  4. 5.2.4 Pharmaceutical
  5. 5.2.5 Other End-user Verticals
3. 5.3 By Geography
  1. 5.3.1 North America
    1. 5.3.1.1 United States
    2. 5.3.1.2 Canada
  2. 5.3.2 Europe
    1. 5.3.2.1 Germany
    2. 5.3.2.2 United Kingdom
    3. 5.3.2.3 France
    4. 5.3.2.4 Rest of Europe
  3. 5.3.3 Asia-Pacific
    1. 5.3.3.1 China
    2. 5.3.3.2 Japan
    3. 5.3.3.3 South Korea
    4. 5.3.3.4 Rest of Asia-Pacific
  4. 5.3.4 Rest of the World
    1. 5.3.4.1 Latin America
    2. 5.3.4.2 Middle East & Africa
6. COMPETITIVE LANDSCAPE
1. 6.1 Company Profiles
  1. 6.1.1 Texas Instruments Incorporated
  2. 6.1.2 TE Connectivity Inc.
  3. 6.1.3 Omega Engineering Inc.
  4. 6.1.4 Honeywell International Inc.
  5. 6.1.5 Rockwell Automation Inc.
  6. 6.1.6 Siemens AG
  7. 6.1.7 STMicroelectronics Inc.
  8. 6.1.8 ams AG
  9. 6.1.9 NXP Semiconductors NV
  10. 6.1.10 First Sensor AG
  11. 6.1.11 Bosch Sensortec GmbH
  12. 6.1.12 Sick AG
  13. 6.1.13 ABB Limited
  14. 6.1.14 Omron Corporation

*List Not Exhaustive

7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability