Industrial Sensors Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR70995
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The industrial sensors market has the potential to grow by USD 21.26 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 8.19%.

This industrial sensors market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (pressure, temperature, proximity, flow, and others), end-user (process industries and discrete industries), and geography (APAC, Europe, North America, MEA, and South America). The industrial sensors market report also offers information on several market vendors, including Honeywell International Inc., Murata Manufacturing Co. Ltd., NXP Semiconductors NV, Renesas Electronics Corp., Robert Bosch GmbH, Rockwell Automation Inc., ROHM Co. Ltd., SENSATA TECHNOLOGIES HOLDING PLC, Siemens AG, and STMicroelectronics NV. among others.

What will the Industrial Sensors Market Size be in 2021?

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Industrial Sensors Market: Key Drivers and Trends

The rise in demand for smart factories and IIoT is notably driving the industrial sensors market growth, although factors such as growing challenges in delivering high quality at low cost may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial sensors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The rise in demand for smart factories and IIoT will fuel the growth of the industrial sensors market size.
  • The integration of the IIoT in factories transforms them into connected and synchronized units.
  • The concept of smart factories can only be conceived in industries that have advanced real-time monitoring and control with the help of industrial sensors and digital interfaces.
  • The market will gain traction due to the increased demand for smart asset monitoring in asset-intensive industries such as oil and gas.
  • The increase in demand for wireless sensors by process industries will drive the industrial sensors market growth during the forecast period.
  • Wireless technologies offer advantages such as increased flexibility and cost reduction.
  • During the forecast period, the demand for wireless sensors is significantly going to rise due to advantages such as reduced installation costs and safety costs, reduced manual monitoring, and the ability to operate in extreme weather conditions.

This industrial sensors market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Industrial Sensors Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Honeywell International Inc.
  • Murata Manufacturing Co. Ltd.
  • NXP Semiconductors NV
  • Renesas Electronics Corp.
  • Robert Bosch GmbH
  • Rockwell Automation Inc.
  • ROHM Co. Ltd.
  • SENSATA TECHNOLOGIES HOLDING PLC
  • Siemens AG
  • STMicroelectronics NV.

 

This statistical study of the industrial sensors market encompasses successful business strategies deployed by the key vendors. The industrial sensors market is fragmented and the vendors are deploying growth strategies such as offering products that are directed at process industries to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The industrial sensors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Industrial Sensors Market?

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44% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for industrial sensors in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

Government initiatives, increasing demand for automobiles, and the strong manufacturing sector will facilitate the industrial sensors market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Industrial Sensors Market?

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The industrial sensors market share growth by the pressure segment will be significant during the forecast period. Pressure sensors measure the pressure of liquids and gases and transmit the information to industrial automation systems for the analysis of the overall performance of devices in a manufacturing plant. These measurements are critical in industrial applications. Pressure sensors are strong, robust, precise, and easy to use.

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial sensors market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Industrial Sensors Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive industrial sensors market growth during the next five years
  • Precise estimation of the industrial sensors market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial sensors industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of industrial sensors market vendors

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Industrial Sensors Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8.19%

Market growth 2021-2025

$ 21.26 billion

Market structure

Fragmented

YoY growth (%)

7.79

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 44%

Key consumer countries

US, China, Japan, Germany, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Honeywell International Inc., Murata Manufacturing Co. Ltd., NXP Semiconductors NV, Renesas Electronics Corp., Robert Bosch GmbH, Rockwell Automation Inc., ROHM Co. Ltd., SENSATA TECHNOLOGIES HOLDING PLC, Siemens AG, and STMicroelectronics NV.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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