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REDDING, Calif. , July 21, 2022 /PRNewswire/ -- According to a new market research report titled, 'Industrial Automation Sensors Market by Sensor Type (Level Sensors, Flow Sensors), Type (Contact Sensors, Non-contact Sensors), Mode of Automation, End User, and Geography—Global Forecast to 2029,' the industrial automation sensors market is expected to grow at a CAGR of 9.6% by value from 2022, to reach $22.59 billion by 2029.
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Industrial automation sensors play a significant role in making the products intelligent and highly automatic. These allow one to detect, analyze, measure, and process changes in production or manufacturing plants. Furthermore, these sensors are vital in making production intelligent and automated.
The growth of this market is attributed to the rising adoption of industry 4.0 and IIoT in manufacturing, the surging demand for smart sensor-enabled wearable devices, and the growing technological advancements in industrial sensors. Furthermore, the use of smart sensors for predictive maintenance and increasing utilization of smart sensors in the automotive industry are the factors expected to offer significant opportunities for the growth of this market.
Rising Adoption of Industry 4.0 and IIoT in Manufacturing to Support the Market Growth
The automation sensors market is growing due to government support and initiatives, high demand for industrial automation for mass production, and mounting pressure to reduce operational costs. Product lifecycle management and enterprise-level solutions are gaining high demand across the globe.
Singapore is emerging as a dominating automation country in Southeast Asia due to initiatives such as National Robotics Program. In 2019, Singapore witnessed the roll-out of the Narrowband IoT (NB-IoT) network, a connectivity standard backed by Telcos and the GSM Association, which accelerated the progress of Singapore's digital economy. In September 2019 , Thailand announced its plans to develop the Digital Park Thailand to provide digital infrastructure to companies to support Thailand's agenda to become a digital innovation hub. Thailand's Digital Agenda 2018 was focused on five areas: digital infrastructure, digital government, digital manpower, cybersecurity, and digital tech developments. The Ministry of Digital Economy and Society (Thailand ) also presented a Smart City Framework designed to make habitable cities with the help of digital technologies. In October 2018 , Malaysia proposed a National Industry 4.0 Framework to boost the manufacturing sector. One of the initiatives includes smart cities to accelerate the progression of the digital economy. Hence, such developments are expected to drive the growth of the industrial automation sensors market.
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To provide efficient analysis, Meticulous Research® has segmented this market based on Sensor Type (Level Sensors, Flow Sensors), Type (Contact Sensors, Non-contact Sensors), Mode of Automation, End User, and Geography.
Based on sensor type, in 2022, the image sensors segment is expected to account for the largest share of the industrial automation sensors market. An image sensor is an electronic device that converts an optical image into an electronic signal. It is used in digital cameras and imaging devices to convert the light received on the camera or an imaging device lens into a digital image. The large market share of this segment is attributed to factors such as the increasing demand for sensors for digital cameras and imaging devices; the increasing need for advanced functionalities such as higher sensitivity and lower dark noise; and the growing popularity of image sensors across medical imaging equipment and night vision equipment.
Based on type, in 2022, the contact sensors segment is expected to account for the largest share of the industrial automation sensors market. The large market share of this segment is attributed to the benefits provided by contact sensors, such as monitoring doors, windows, and other access points to promote security in industrial operations. 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 magnetoresistive, vibratory probe, hydrostatic, magnetic and mechanical float, pneumatic, rotating paddle, resistive chain, and weight and chain. The most common contact type sensors include temperature, pressure, force, and flow sensors.
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Based on mode of automation, in 2022, the semi-automatic system segment is expected to account for the largest share of the industrial automation sensors market. Semi-automatic systems are widely adopted since they benefit companies that emphasize improving their manufacturing process but cannot eliminate operator assistance. The components used in these systems benefit from automation sensors, but some aspects of the assembly are too difficult to automate fully and reliably. Manufacturing companies adopt semi-automatic machines to make significant process improvements while retaining the adaptability of an operator's input for additional manual inspection.
Based on end user, in 2022, the oil & gas segment is expected to account for the largest share of the industrial automation sensors market. The large market share of this segment is attributed to the implementation of automation sensor technologies to improve decision-making, troubleshooting, and performance efficiency in oil & gas exploration activities. Some of the major areas highly influenced by automation sensors in the oil & gas sector include drilling operations, diagnostics & inspections, pipeline monitoring systems, weather monitoring systems, and pressure & flow systems. Drilling is one of the major areas with automation due to its expensive process and high safety risks. Furthermore, companies are increasingly deploying automated pipeline monitoring systems due to the increasing number of pipeline thefts.
Based on geography, in 2022, Asia Pacific is expected to account for the largest share of the industrial automation sensors market. The growth of this regional market is attributed to the growing industrial sector; the increasing presence of SMEs in countries such as India , China , and Japan ; the growing need for sensors in the pharmaceutical, manufacturing, and automobiles industries; rapid industrialization and technological advances; growing electronics and automobile industries; the emergence of industry 4.0; and the increasing number of foreign investments.
Furthermore, the increase in manufacturing units, the presence of several semiconductor manufacturing units, favorable government initiatives, the automation of traditional manufacturing and industrial activities through modern smart technologies, and growth in the electronics and automobile industry drive the growth of this market in Asia-Pacific .
The key players operating in the industrial automation sensors market are Amphenol Corporation (U.S.), Honeywell International Inc. (U.S.), Infineon Technologies AG (Germany ), NXP Semiconductors N.V. (Netherlands ), Renesas Electronics, Corporation (Japan ), Rockwell Automation, Inc. (U.S.), Siemens AG (Germany ), STMicroelectronics International N.V. (Switzerland ), TE Connectivity Ltd. (Switzerland ), Texas Instruments Incorporated (U.S.), Dwyer Instruments Ltd. (U.K.), Bosch Sensortec GmbH (Germany ), ABB Ltd. (Switzerland ), Analog Devices, Inc. (U.S.), and Sensirion AG (Switzerland ).
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Industrial Automation Sensors Market, by Sensor Type
Industrial Automation Sensors Market, by Type
Industrial Automation Sensors Market, by Mode of Automation
Industrial Automation Sensors Market, by End User
Industrial Automation Sensors Market, by Geography
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