Industrial Automation Sensors Market is Predicted to Hit a Revenue of USD 37.76 Billion by Growing with a CAGR of 9.12% During 2022-2028; Growing Automation and Rising Adoption of Wireless Connectivity to Drive Market Growth – SkyQuest
SkyQuest’s most current research report on the industrial automation sensors market will serve as a crucial planning tool for established firms and new market entrants to the automation sensor sector. The report’s research findings are quite trustworthy because they make full use of cutting-edge research and it also offers incredible insights into product requirements and product lineage across various territories, which can aid market participants in product optimization, prioritizing their targeted regions, and designing efficient supply chain solutions to cover a larger territory during a projected timeframe.
Westford, USA, Feb. 14, 2023 (GLOBE NEWSWIRE) — The industrial automation sensors market in North America region is predicted to gain the highest market share during the forecast period. The growth of the market can be ascribed to the increasing usage of automation sensors in the automobile industry as sensors help safeguard drivers and passengers by monitoring vehicle engines, fuel use, and pollution. These enable automakers to introduce vehicles that are more secure, fuel-efficient, and comfortable to drive. In addition to this, it has been observed during the study that nowadays the major chunk of the automation sensors goes into the development of autonomous self-driving cars, and the increasing sales and production of autonomous vehicles are predicted to drive the market growth over the upcoming years.
SkyQuest’s latest findings on automation vehicle sales show that as of 2022 there are more than 1400 autonomous cars there on the US road and is projected to increase further during the forecast period.
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Simple explanations of industrial automation input devices called sensors provide an output (signal) in relation to a certain physical quantity (input). To boost the automaticity and efficiency of any production cycle or activity automation sensor plays a key role. These sensor comes in various shape and size and serves a variety of functions such as pressure control, motion control, image sensor, level sensor, position sensor, and others.
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Prominent Players in Industrial Automation Sensors Market
- ABB Ltd. (Switzerland)
- Amphenol Corporation
- Connecticut (United States)
- Ams AG (Premstätten, Austria)
- Analog Devices, Inc. (United States)
- Bosch Sensortec (Germany)
- Figaro Engineering Inc. (Japan)
- First Sensor (Berlin, Germany)
- Honeywell International (United States)
- Integrated Device Technology (United States)
- Microchip (United States)
- NXP Semiconductors (Netherlands)
- Siemens AG (Germany)
- TE Connectivity Ltd. (Switzerland)
- Dwyer Instruments Ltd. (U.K.)
- Sensirion AG (Switzerland)
- Renesas Electronics, Corporation (Japan)
Pressure Sensor Type Segment to Hold the Largest Market Revenue Owing to Its Wide Range of Application
The pressure sensor segment of the industrial automation sensors market is predicted to gain the largest market revenue during the forecast period. The growth of the segment can be ascribed to the increasing usage of pressure sensors in high-performance industrial applications, including liquid pressure measurement, vacuum pump monitoring, industrial process control, inspection, and packing, among others. Moreover, the new development in pressure sensors and the latest innovations by key market players is predicted to boost the segment growth. SkyQuest noted that recently by integrating pressure sensor control in SSE 3D printing, FABRX aims to optimize medicine manufacturing. Market leader says that the use of a pressure sensor for quality assurance can provide information on the printability of the feedstock material in situ and under exact printing circumstances, which would help its clinical deployment.
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The market in North America region is predicted to dominate the market for industrial automation sensors. Also, it is one of the most advanced regions, has a substantial market for industrial sensor devices, and is home to several industrial sensor producers. Numerous programs are being implemented by the US government to spread Industry 4.0 across the country and which in turn is predicted to drive market growth. Moreover, the increasing presence of key market players and the rising industrialization rate in the region is predicted to boost market growth. SkyQuest found the Industrial Production Index (IPI) of the United States reached a value of 103 in December 2022 and is expected to increase over the upcoming years.
Contact Sensor Emerges as the High Revenue Generating Segment in the Industrial Automation Sensors Market
Provided that contact sensors are security devices typically installed on doors and windows, they dominated the market in 2021 and are estimated to generate the highest market revenue during the forecast period. This type of sensor can send an alert during an intrusion or notify the owner or a system if a door, window, or gate opens. Additionally, touch sensors have become one of the most crucial elements of a home or business security system as a result of recent developments in smart technology. SkyQuest found during a survey that more than 675 of the US population prefer to have an automatic door for their home.
On the other hand, the market in Asia Pacific region is predicted to hold the biggest market share by growing at the highest CAGR during the forecast period. Some of the factors that are predicted to drive the regional market growth are rapid industrialization and technological advancements, expanding electronics and automotive sectors, growing foreign investments, rapid technological advancements including industry 4.0. In addition to this, the expanding semiconductor industries and the rising investment by the governments into the telecommunication sector are predicted to propel the market growth over the projected time frame.
Key Developments in the Industrial Automation Sensors Market
- In order to upgrade the Connected Systems Institute (CSI) manufacturing research facility at the University of Wisconsin-Milwaukee (UWM) to include private 5G technology, UScellular is providing a high-performance private cellular network solution. The CSI research facility will link its activities with 5G IoT sensors and controls using UScellular’s 5G private wireless network.
- Bosch Sensortec revealed that its sensors on the Arduino NiclaSense ME microcontroller are supported by Edge Impulse’s machine-learning platform. The first Arduino Pro product, according to the company’s statement, was developed in collaboration with Bosch Sensortec, whose sensors offer multiple high-accuracy methods for data collecting and analysis using the pressure sensor BMP390.
- Micro-electro-mechanical systems (MEMS) company STMicroelectronics is introducing its third generation of MEMS sensors. For customer handheld devices, smart industries, healthcare, and retail, the new sensors offer the next leap in performance and functionalities.
- Transfer Multisort Elektronik (TME) announced the launch of two new products in April 2022 with the goal of assisting clients in the development of electronic systems with cutting-edge features and functionality appropriate for smarter living and working environments.
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Key Questions Answered in the Industrial Automation Sensors Market Research Report
- What is the market value and anticipated CAGR for industrial automation sensors?
- Who are the most prominent market players on the global platform?
- What are the main factors influencing and restraining the target market?
- During the forecast period, which region will draw more investments?
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