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Industrial Sensors Market - By Product (Level Sensor, Temperature Sensor, Flow Sensor, Position Sensor, Pressure Sensor, Force Sensor, Image Sensor, Gas Sensor), By Application (Energy & Power, Oil & Gas, Mining, Chemical, Manufacturing, Pharmaceutical) & Forecast, 2023-2032

  • Report ID: GMI4271
  • Published Date: Feb 2023
  • Report Format: PDF

Industrial Sensors Market Size

Industrial Sensors Market size was valued at more than USD 20 billion in 2022. The industry is set to grow at over 10% CAGR from 2023 to 2032, driven by escalating demand for force sensors in material handling robots.
 

Industrial Sensors Market

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The growing acceptance of image sensors for machine vision applications in the manufacturing sector is complementing market growth. Machine vision technology is being widely used in the manufacturing and processing sectors due to its capacity to handle high-speed product inspection and fault analysis. For instance, in November 2021, Tech Mahindra, an IT company, partnered with Cogniac to develop AI-powered data solutions using machine vision technology for the process. This technology boosts the quality and productivity of the manufacturing industry by offering imaging-based robot guiding, industrial process control, and automated inspection.
 

Furthermore, the mounting adoption of wireless sensor technology is also fostering the industry outlook. The post-pandemic scenario is providing lucrative opportunities for wireless sensor technology as remotely monitoring industrial assets, including compressors, heat pumps, boilers, and ultra-high temperature (UHT) furnaces, is becoming essential in the manufacturing and energy sectors. An April 2022 study concluded that wireless sensor network reduces the cost of maintenance and efforts in the oil & gas industry while replacing the negative impacts of chemical batteries disposal.
 

Design complexity and increased costs of gas sensors may restrain industry progression

Technical issues and the cost of gas sensors are restraining the industrial sensors market growth. Smart gas sensors have shorter life spans and lesser design complexity due to the integration of numerous components, including amplifiers, microcontrollers, current/voltage converters, and so on, which is impeding business growth. Gas sensors are getting localized as they are spoofed and contribute to incorrect data, making wireless gas sensors used in industrial applications quite expensive while promoting the demand for less costly and smaller gas sensors. Nonetheless, widespread IoT uptake in SMEs can provide opportunities for small gas sensors in the future.
 

Industrial Sensors Market Analysis

Global Industrial Sensor Market Revenue Share, By Product

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The industrial sensors market is categorized with respect to product into temperature sensor, level sensor, flow sensor, pressure sensor, position sensor, force sensor, gas sensor, image sensor, and others. The report cites that the level sensor segment is primed to depict substantial growth at 5% CAGR over 2023-2032. The extensive adoption of automated equipment and procedures in industrial manufacturing is bolstering the use of level-based sensors for safety and control purposes in automated machinery. In February 2022, VackerGlobal, an engineering firm, released its new Global Sensor range that provides proximity sensors, along with two other sensors, which help in factory automation and measure liquid flow and level in the tank.
 

 

Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

Industrial sensors industry share exceeded USD 17 billion in 2020 and will expand at a CAGR of 10% between 2021 and 2027.
Pressure sensors market will record a CAGR of around 9% from 2021 to 2027 owing to their surging demand in food & beverage processing units.
Manufacturing application will register a CAGR of 12% between 2021 and 2027 due to the increasing adoption of IoT sensors in manufacturing and processing plants.
The Asia Pacific industrial sensors market value will grow at a rate of 12% from 2021 to 2027 propelled by the surging production of coal in economies comprising India, China, Australia, and Indonesia.

Industrial Sensors Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 19
  • Tables & Figures: 372
  • Countries covered: 17
  • Pages: 280
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