Industrial Sensors Market Analysis

Industrial Sensors Market Analysis

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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.

Industrial sensors market from the manufacturing application segment is expected to reach a shipment of over 2 billion units by 2032. Manufacturing organizations are investing heavily in industrial sensors to build smart factories and improve their production processes with the integration of IoT and sensors. Moreover, the incorporation of industrial sensors into manufacturing facilities enables the reduction of maintenance and upkeep costs, which is foreseen to stimulate segment expansion.

Asia Pacific industrial sensors market is primed to capture more than 60% industry share by 2032. The region may emerge as a major revenue hub for this industry owing to supportive government initiatives, such as subsidies and incentive programs, along with regulations that assist the producers of renewable energy, expediting the construction of new solar and wind power plants in Asian countries. In July 2022, the Japanese government provided a subsidy of 92.9 billion yen (~USD 680 million) to Kioxia Corp. and Western Digital Corp. for a semiconductor production facility to secure smooth domestic chip production.