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Allied Market Research

Industrial Sensors Market By Type(Contact and Non-contact), Product Type(Level Sensor, Temperature Sensor, Pressure Sensor, Flow Sensor, Position Sensor, Force Sensor, Image Sensor, Gas Sensor and Others), Component(Hardware, Software, and Service), Industry Vertical(Energy and Power, Oil &Gas, Mining, Chemical, Automotive, and Others):Global Opportunity Analysis and Industry Forecast, 2021-2027

A08143
Pages: NA
Jun 2021 | 529 Views
 
Author(s) : NA
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Charts: NA
 

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Industrial Sensors Market Outlook by 2027

Industrial sensors are input devices that can detect events or changes in the environment and provide corresponding output on a display or transmit the information in electronic form for further processing. These sensors are used in large-scale applications for industry end use such as water level monitoring systems, traffic monitoring, artificial lighting, equipment fault detection, animal tracking as it helps improve reliability, robustness, efficiency, stability and durability of operations.

Incorporation of sensors make products intellectual and fully automatic permitting one to detect, analyze, measure, and process variety of changes in position, length, height, and dislocation in manufacturing sites. Industrial sensors can improve operational efficiency of automotive equipment by offering easily scaled solutions for conducting surveillance in the military sector.

In addition, it is used in data centers to realize benefits of real-time temperature sensing and enables long distance data collection and transmission without adding extra cabling to the environment. Increased deployment of smart, wireless sensors to gather critical information in hazardous environment implies that the industrial sensors share will grow at steady pace in coming years.

Market Scope and Structure Analysis:

  Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast Period

  2021–2027

  Forecast Unit

  Value ($)

  Segments Covered

  Type, Product Type, Component, Industry Vertical, and Region

  Regions Covered

North America(U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, and rest of Europe), Asia Pacific(India, Japan, China, and rest of Asia Pacific) and LAMEA(Latin America, Middle East, and Africa)

  Companies Covered

Analog Devices Inc., Rockwell Automation Inc., Amphenol Corp., Ams AG, First Sensor AG, Omron Corp., Honeywell International Inc., Texas Instruments Inc., STMicroelectronics, Figaro Engineering Inc. and NXP Semiconductors.

 

COVID-19 IMPACT ANALYSIS:

  • The ongoing COVID-19 pandemic is unsettling for people as well as organizations and business firms worldwide. With the shutdown of manufacturing operations and travel and transportation ban worldwide, demand for industrial sensors has also plunged. The exact measure of the scale and scope of the challenge cannot be anticipated.
  • Robotics and machine vision incorporating wireless industrial sensors help to inspect, identify, recognize, diagnose, provide assistance to treat COVID-19 patients. Robots are deployed at medical service facilities to treat patients and bring supplies with a view to minimize human to human contact.
  • In response to COVID-19 scenario, the industrial sensors market is expected to undergo temporary shortfall, owing to shutdown of operations of industries and manufacturing units globally. There is demand lapse accompanied by halt in production disrupting the supply chain.
  • Contrarily, the market is expected to make a rebound, owing to increasein demand for industrial sensors incorporated devices in healthcare and emergency services to combat the virus outbreak.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Rise in trend to integrate wireless industrial sensors with cloud computing to facilitate real-time data retrieval in remote environment as well as increase in adoption of advanced industrial robots in military applications such as target detection as drones and aircraft are major factors drivethe industrial sensors market growth. However, lack of skilled workforce and vulnerability to malicious security attacks due to lack of robust security system in every type of industrial sensor tends to hamper the industrial sensors market growth.

On the other hand, proximity sensors with touch-free interface are used in large-scale in automobile applications such as infotainment system, keyless entry system, 3D gesture, and industrial lighting control, which boosts the market revenue. Integration of IoT with sensor devices establishing bidirectional communication in completely automated digitally smart environments is anticipated to present new pathways to the industrial sensors industry.

New product launches to flourish the market

Global leading the industrial sensors market players are adopting necessary steps to improve the overall accuracy and performance of industrial sensors thereby presenting innovative power-to-system solutions for applications that are set to power the world.

In May 2019, Infineon Technologies AG, a German semiconductor manufacturer, launched the XENSIVTM TLI4971, a new family of current sensors consisting of precise and stable coreless Hall sensors. It covers measurement ranges from +25A to +120A and provides accurate, stable current measurement as analog output voltage. The sensitivity error is as low as 2% at room temperature and can be further reduced by single point in-system calibration. The TLI4971 has two output pins for fast overcurrent signals that can be used for pre-warning and system shutdown.

In addition, it provides signal in case of over or under voltage condition for supply voltage and is mainly intended for use in high voltage applications as well as incorporates galvanic isolation up to 1.1Kv. Differential measurement with two hall sensors ensures high accuracy in noisy environment with cross-talk from adjacent current lines or magnetic stray fields. The device addresses industrial applications such as electrical drives upto 50KW or photovoltaic inverters.

Surge in use of industrial sensors in automotive and industrial applications

Industrial sensors are primary component of factory automation. Motion and vibration sensors are used to monitor health of equipment from linear to angular positioning, tilt sensing, leveling, shock or fall detection. Auto manufacturers use industrial sensors to monitor thickness of paints being sprayed on instruments, airbag claddings and various internal parts.

In January 2020, Honeywell International Inc., a multinational conglomerate, launched a high-performance line of Media isolated stainless-steel pressure sensors(MIP) to provide customers a single, customizable solution for use in harsh environment. It is designed to withstand extreme pressure and resist corrosion and eliminates leakage paths associated with O-rings and adhesives. The hermetic design combined with stainless steel construction makes MIP sensors compatible for use with aggressive fluids and water. The new sensor has improved error band, accuracy, response time and the platform allows for customization for almost any application. These cost-effective sensors are ideal for designing high-performance HVAC systems, biomedical processes, marine systems, aircraft systems, environmental engineering, wastewater and other industrial applications.

Key segments covered:                 

Segments

Subsegments

Type

  • Contact
  • Non-contact

Product Type

  • Level Sensor
  • Temperature Sensor
  • Pressure Sensor
  • Flow Sensor
  • Position Sensor
  • Force Sensor
  • Image Sensor
  • Gas Sensor
  • Others

Component

  • Hardware
  • Software
  • Service

Industry Vertical

  • Energy and Power
  • Oil and Gas
  • Mining
  • Chemical
  • Automotive
  • Others

 

Key benefits of the stakeholders:

  • The study gives an analytical overview of the Industrial Sensors market forecast with current trends and future estimations to determine imminent investment pockets.
  • The report provides information related to key drivers, restraints, and opportunities along with detailed Industrial Sensors market analysis.
  • The current Industrial Sensors market trends are quantitatively analyzed from 2021 to 2027.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.

Questions answered in theIndustrial Sensors Market research report:

  • Who are the leading players in the industrial sensors market?
  • What are the current trends that would influence the market in the next few years?
  • What would be the detailed impact of COVID-19 on the market?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

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