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Industrial Sensors Market with Covid-19 impact by Sensor Type, Type, End-user Industry and Region - Global Forecast to 2026 - ResearchAndMarkets.com

January 14, 2022 GMT

DUBLIN--(BUSINESS WIRE)--Jan 14, 2022--

The “Global Industrial Sensors Market with Covid-19 impact by Sensor Type (Level Sensor, Temperature Sensor, Gas Sensor, Pressure Sensor, Position Sensor, Flow Sensor, and Humidity & Moisture Sensor), Type, End-user Industry and Region - Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

The Global Industrial sensors market is expected to grow from USD 20.6 billion in 2021 to USD 31.9 billion by 2026; it is expected to grow at a CAGR of 9.1% during 2021-2026.

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Key factors fuelling this market’s growth include rising adoption of Industrial 4.0 and IIoT in manufacturing; surging demand for smart sensor-enabled wearable devices; and technological advancements in the industrial sensor. Predictive maintenance to offer lucrative opportunities to market players; and increasing demand from automobile manufacturers to deliver improved safety and comfort for smart sensors create a strong demand for industrial sensors for efficient industrial operations in the midst of COVID-19.

Level sensors to hold the largest size of Industrial Sensors market in 2020

The market for level sensors accounted for the largest size in 2020. A level sensor is used to detect and measure the level of liquids, bulk solids, and other fluids. The level measurement is either continuous or in the form of point values. The need for level sensor arises due to various factors, such as the need for accuracy, appearance, response rate; ease of calibration of instruments; size of the instrument; monitoring and/or controlling of continuous or point level.

Contact type to hold largest share of Industrial Sensors market in 2020

The market for contact type sensors is estimated to account for a larger share of the overall Industrial Sensors market, in 2020. Contact level sensors involve physical contact between the device (comprising contact type industrial sensor) and media. The technologies used in contact type level sensors are magneto resistive, vibratory probe, hydrostatic, magnetic and mechanical float, pneumatic, rotating paddle, resistive chain, and weight and chain. Some of the most common types of contact type sensors are temperature sensors, pressure sensors, force sensors, flow sensors, etc.

APAC to dominate Industrial Sensors market in 2020

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In terms of value, APAC led the Industrial Sensors market in 2020, accounting for the largest share of the overall Industrial Sensors market, by region. As China is among the major industrial areas in the world, the industrial sensors market in APAC is expected to record the largest market share by 2026. Key countries for the industrial sensors market in APAC are China and Japan. APAC has vast opportunities for revenue generation from the industrial sector in the coming years.

Market Dynamics

Drivers

  • Rising Adoption of Industry 4.0 and IIoT in Manufacturing
  • Surging Demand for Smart Sensor-Enabled Wearable Devices
  • Growing Technological Advancements in Industrial Sensors

Restraints

  • Competitive Pricing Resulting in Decline in Average Selling Prices
  • High Installation Cost of Sensor Networks

Opportunities

  • Predictive Maintenance to Offer Lucrative Opportunities to Market Players
  • Increasing Demand from Automobile Manufacturers to Deliver Improved Safety and Comfort for Smart Sensors

Challenges

  • Precise Performance Requirements from Upcoming Advanced/ Technologically Sensors

Companies Mentioned

  • Abb Ltd.
  • Amphenol Corporation
  • Ams Ag
  • Analog Devices, Inc.
  • Bosch Sensortec
  • Breeze Technologies
  • Dwyer Instruments
  • Elichens
  • Endress+Hauser Management Ag
  • Figaro Engineering Inc.
  • Honeywell
  • Infineon Technologies Ag
  • Microchip Technology Inc.
  • Nxp Semiconductors N.V.
  • Omega Engineering
  • Panasonic
  • Renesas Electronics Corporation (Renesas)
  • Rockwell Automation
  • Safran Colibrys Sa
  • Sensirion Ag
  • Siemens
  • Stmicroelectronics
  • Te Connectivity
  • Texas Instruments

For more information about this report visit https://www.researchandmarkets.com/r/7gi6fv

View source version on businesswire.com:https://www.businesswire.com/news/home/20220114005299/en/

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INDUSTRY KEYWORD: TECHNOLOGY HARDWARE

SOURCE: Research and Markets

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PUB: 01/14/2022 09:27 AM/DISC: 01/14/2022 09:28 AM

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