Industrial Sensors Market size is anticipated to reach more than USD 50 billion in revenue by 2032, according to a recent research report announced by Global Market Insights Inc.
The report identifies the emerging trend of industrial automation and IoT in developing nations as the chief drivers of the industrial sensors industry trends. Robotics and industrial automation have become widely used, enabling firms to boost corporate profitability, enhance production effectiveness, and guarantee worker safety. This is widening the scope of applications of industrial sensors in large enterprises and SMEs for better productivity and improved levels of efficiency & process control in automated machines.
Integration of AI in image sensors to shape the industry landscape
With respect to products, the image sensor segment is poised to account for a 20% share of the industrial sensors market by 2032. The incorporation of cutting-edge technologies such as ML and AI into image sensor products and solutions is set to fuel segment growth. In September 2022, Visionary.ai, an image processing software developer, launched a video denoiser integrated with intelligent image sensors for improved night vision. The new device uses raw output data from the sensors and advanced algorithms to cancel noise from image signals.
Rising environmental concerns in the chemical sector to define the industry landscape
Industrial sensors market size from the chemical segment is anticipated to reach over 400 million units in shipment by the end of 2032. The growing awareness about the safety & quality of chemicals used in various production processes, especially among SMEs, is boosting segment expansion.
Browse key industry insights spread across 280 pages with 339 market data tables and 33 figures & charts from the report ‘ “Industrial Sensors Market Size 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), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
Growing usage of robotics in manufacturing to aid Europe emerge as a prominent revenue pocket
Europe industrial sensors market size was recorded at more than USD 4 billion in revenue in 2022. The prevalent trend in the European manufacturing sector toward the upgradation of facilities and the integration of industrial robots for factory automation is slated to benefit industry players in the region.
Partnerships to develop sensors for automation applications to remain a key growth strategy
The competitive landscape of this industry is speculated to observe strategic collaborations and partnerships among industry players to expand their business presence. Some key firms profiled in the industrial sensors market report include NXP Semiconductors N.V., Sensirion AG, AMS AG, Honeywell International, Inc., Analog Devices, Inc., Omron Corporation, STMicroelectronics N.V., Infineon Technologies AG, Endress+Hauser, TE Connectivity, and others.