The global industrial sensor market is projected to reach $46.0 billion by 2028, at a CAGR of 9.3% during 2023-2028. The growth of industrial sensor market is driven by growing use of micro-electro-mechanical systems (MEMS) based sensor in industrial applications, and rising adoption of sensors in industries to monitor and protect assets.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the industrial sensor market by sensor type (pressure sensors, position sensors, level sensors, gas sensors, temperature sensors, image sensors, humidity & moisture sensors, flow sensors, and force sensors), product type (contact and non-contact), end use industry (oil & gas, pharmaceuticals, chemicals, manufacturing, mining, and energy & power), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the industrial sensor market?
Q.4 What are some changing demands of customers in the industrial sensor market?
Q.5 What are the new developments in the industrial sensor market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this industrial sensor area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this industrial sensor market?
Market Segmentation:
Based on sensor type, the industrial sensor market is segmented into pressure sensors, position sensors, level sensors, gas sensors, temperature sensors, image sensors, humidity & moisture sensors, flow sensors, and force sensors. The image sensor segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to the growing use of this sensor for biometric techniques and in machine vision application.
APAC will remain the largest region due to rapid industrialization, increasing adoption of industry 4.0, and presence of large semiconductor production hub in the region.
Key Players in the industrial sensor market are Rockwell Automation, Omron, Honeywell, Texas Instruments, and STMicroelectronics.
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