USD 20.6 billion
Industrial Automation Sensors Market Size, Share, Growth Analysis, By Sensor type(Temperature sensor, proximity sensor, pressure sensor, position sensor), By Type(Contact Sensors, Non-contact Sensors), By End user industry(Oil & Gas, Automotive, Food & Beverage, Semiconductor & Electronics), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45L2006 |
Region:
Global |
Published Date: February, 2024
Pages:
263
|Tables:
105
|Figures:
76
Industrial Automation Sensors Market Insights
Industrial Automation Sensors Market size was valued at USD 20.6 billion in 2019 and is poised to grow from USD 22.5 billion in 2023 to USD 49.7 billion by 2031, growing at a CAGR of 9.1% in the forecast period (2024-2031).
The global industrial automation sensors market size is projected to grow at a significant CAGR during the forecast period from 2023 to 2030 attributing to the heightened use of automation sensors in the manufacturing industry. With the emerging trend of industry 4.0 and IIOT the demand for sensors has grown manifolds in the domain.
Industry 4.0 and IIoT are adopted more frequently in production for wearable devices with smart sensors. Industrial sensors are advancing technologically, all of which are contributing to the market growth. Additional aspects that are anticipated to provide substantial potential for the market growth include the use of smart sensors for predictive maintenance and the rising adoption of smart sensors in the automotive industry.
Sensing technology is anticipated to continue serving as the backbone for data collection as the demand for industrial automation grows and factory floors are transformed into efficient, linked, and dependable facilities. As a result, in the past few years, a sizeable number of industrial communities and researchers have been paying close attention to the integration of industrial sensors with automation systems.
US Industrial Automation Sensors Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Vitamins
Fastest Growth
Vitamins
Growth Rate
9.1% CAGR
Global Industrial Automation Sensors Market ($ Bn)
Country Share for North America Region (%)
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Industrial Automation Sensors Market Segmental Analysis
Global industrial automation sensors market is segmented based on the sensor type, type, end user industry and region. Based on the sensor type, the market is segmented into temperature sensor, proximity sensor, pressure sensor, position sensor, motion sensor, level sensor, gas and chemical sensor, humidity sensor, flow sensor. Based on the type, the market has been segmented into contact sensors, non-contact sensors.
Based on the end-user industry, the market has been segmented into oil & gas, automotive, food & beverage, semiconductor & electronics, chemicals & materials, consumer goods, mining & metals, pharmaceuticals & biotech, power, machines & tools, paper & pulp, aerospace & defense. Based on region the global market spans North America, Europe, Asia-Pacific, Latin America, and MEA.
Industrial Automation Sensors Market Analysis by Sensor Type
Pressure sensor segment dominated the market growth and held largest revenue share in 2022. Since pressure sensors are widely used in high-performance industrial applications such liquid pressure measurement, vacuum pump monitoring, industrial process control, inspection, and packing, among others.
The image sensors segment is fastest growing segment and projected to grow at the highest CAGR during the forecast period. Sensors for digital cameras and imaging devices are in huge demand. Also, there is a rising demand for advanced functionalities like higher sensitivity and lower dark noise with a rising acceptance of image sensors in night vision and medical imaging equipment are all factors that contribute to the market growth.
Industrial Automation Sensors Market Analysis by Type
Contact Sensor dominated the market in 2022 as contact sensors are security devices typically installed on doors and windows. They can notify the system in the event when a door, window, or gate opens, or alert during an intrusion. Recent advancements in smart technology makes contact sensors one of the most essential components of a home or business security system.
The non-contact sensors segment is fastest growing segment and projected to grow at the highest CAGR during the forecast period. Due to the several benefits non-contact sensors provide over contact devices, including spontaneity, dependability, lifespan, and performance consistency, this market is expected to increase. Non-contact sensors are utilised in manufacturing, engineering, process and control, automation, and other operations in numerous industries causing the market to grow.
Global Industrial Automation Sensors Market By Type
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Industrial Automation Sensors Market Regional Insights
North America dominated the global market growth in 2022. Given that it is home to several industrial sensor manufacturers, including Honeywell International Inc., Amphenol Corporation, Texas Instruments, Rockwell Automation, and Dwyer Instruments. The US government is implementing a number of initiatives to advance Industry 4.0 across the nation. The National Network for Manufacturing Innovation is one such initiative (NNMI). The nation is creating the NNMI as part of this programme, which will be made up of regional centres that will hasten the adoption of cutting-edge manufacturing technology for the production of novel products that are competitive on a worldwide scale.
Asia-Pacific is expected to record the highest CAGR during the forecast period. Rapid industrialization and technological advancements, expanding electronics and automotive industries, rapid technological advancements, the emergence of industry 4.0, and an increase in foreign investments are the main factors driving the high market growth in the Asia-Pacific.
Other factors include the booming industrial sector, presence of SMEs in nations like India, China, and Japan, growing demand for sensors in the pharmaceutical, manufacturing, and automotive industries, and the rapid industrialization and technological advancements.
The market growth in Asia-Pacific is also fueled by an increase in manufacturing facilities, presence of numerous semiconductor manufacturing facilities, supportive government initiatives, automation of traditional manufacturing and industrial activities using cutting-edge smart technologies, and expansion in the electronics and auto industries.
Global Industrial Automation Sensors Market By Region
- Largest
- Fastest
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Industrial Automation Sensors Market Dynamics
Industrial Automation Sensors Market Driver
Adoption of Wireless Connectivity in Manufacturing Units
- Industrial applications for sensors primarily rely on wireless communication. The manufacturing facilities’ battery-powered wireless sensors and nodes can readily scale to hundreds of sensing points per site. They do away with the requirement for specialised or qualified individuals to supervise or manage processes. Companies are heavily investing in the newest sensor and networking technology as they search for methods to improve their operations, boost productivity, save costs, and run more profitably. Manufacturers are seeing an increase in demand for wireless connectivity solutions, particularly for applications involving robots and factory automation.
Industrial Automation Sensors Market Restraint
High Installation Costs May Cause Reluctance in the Adoption of Sensor Technology
- Sensors’ specifications change depending on the use, which raises their cost. OEMs put further pressure on sensor manufacturers’ prices by expecting them to provide the best sensors at cheaper prices. In some instances, the lack of mass production makes it impossible for the makers to lower the price.
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Industrial Automation Sensors Market Competitive Landscape
Global Industrial Automation Sensors Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Industrial Automation Sensors Market Top Player's Company Profiles
- ABB Ltd.
- Honeywell International Inc.
- Siemens AG
- Schneider Electric SE
- Emerson Electric Co.
- Rockwell Automation, Inc.
- Texas Instruments Inc.
- Pepperl+Fuchs GmbH
- Omron Corporation
- Eaton Corporation PLC
- IFM Electronic GmbH
- Balluff GmbH
- Banner Engineering Corporation
- Sick AG
- Yokogawa Electric Corporation
- Keyence Corporation
- Turck GmbH
- Carlo Gavazzi Holding AG
- Baumer Holding AG
- TE Connectivity Ltd.
Industrial Automation Sensors Market Recent Developments
Analog Devices, Inc. announced the industry’s first high-resolution, industrial quality, indirect Time-of-Flight (iToF) module for 3D depth sensing and vision systems, in 2022
Transfer Multisort Elektronik (TME) has announced two new product introductions that are intended to help customers create electronic systems with next generation features and functionality that are suitable for smarter working and living spaces, in 2022.
Zebra Technologies Acquired Matrox’s Imaging Division. The acquisition has enabled Zebra to leverage machine vision expertise from Matrox to grow its new machine vision business unit, in 2022
Industrial Automation Sensors Key Market Trends
- Advent of Industry 4.0: In order to boost output, effectiveness, and profitability, control and automation systems are now often used on factory floors thanks to Industry 4.0. The advent of Industry 4.0 has compelled businesses to make investments in digital technology including industrial execution systems (MES), networked devices, and sensors. As a result, sensors now have more power and can process intricate computations on collected data inside of a sensor module.
- Deployment of Sensors for Energy Efficiency: Industrial automation sensors are significantly used to enhance energy efficiency and improve sustainability.
Industrial Automation Sensors Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Industrial Automation Sensors Market analysis, among region Asia Pacific is expected to capture higher market share, the growth of the region is attributed to rapid industrialization and technological advancements, expanding electronics and automotive industries, rapid technological advancements, the emergence of industry 4.0. China and India has emerged as a significant contributor to market growth in Asia Pacific. In terms of Sensor type, global market. This segment's leading position can be attributed to its used in high-performance industrial applications such liquid pressure measurement, vacuum pump monitoring, industrial process control, inspection, and packing. In terms of type, the non contact sensor type led the market and is predicted to grow at the fastest rate.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 20.6 billion |
| Market size value in 2031 | USD 49.7 billion |
| Growth Rate | 9.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Industrial Automation Sensors Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Industrial Automation Sensors Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Industrial Automation Sensors Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Industrial Automation Sensors Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Industrial Automation Sensors Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Industrial Automation Sensors Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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