Industrial Sensors Market Size, Share, Growth, Trends & Benefits and Forecast 2024-2031

Market Overview :

The availability of cloud-based solutions for industrial sensor data storage and analysis facilitates remote monitoring and access. Cloud platforms provide scalability, accessibility and data security, supporting the growth of sensor-based applications. Improved signal processing techniques enhance the ability of sensors to filter and analyze data accurately. Advanced signal processing contributes to more reliable and actionable insights derived from sensor-generated data.

Advancements in sensor design have led to the development of energy-efficient sensors. Low-power sensor technologies contribute to prolonged sensor life, reduced energy consumption and increased sustainability in industrial applications. The use of advanced materials in sensor construction enhances their durability and performance. Materials such as nanomaterials and advanced polymers contribute to sensors that withstand harsh environmental conditions and provide reliable data.

North America is a dominating region in the global industrial sensors market due to the growing adoption of industrial sensors by major key players. The automotive sector in North America is progressively embracing predictive maintenance approaches to mitigate downtime and lower maintenance expenses. The American Automotive Policy Council estimates that the automotive industry, which includes suppliers, accounts for the majority of the country's manufacturing sector and accounts for 3% of GDP.

Market Trends :

The Growing Adoption of Wireless Connectivity in Manufacturing Units

Wireless connectivity allows industrial sensors to transmit data in real-time. The capability is crucial in manufacturing units where timely information on parameters such as temperature, pressure and machine status is essential for efficient operations and decision-making. Wireless industrial sensors provide flexibility in deployment, allowing for easy installation and relocation. Without the need for physical cables, sensors strategically placed throughout the manufacturing facility, adapting to changing production layouts and requirements.

For instance, on August 12, 2020, PCTEL, Inc., a leading global provider of Industrial IoT (IIoT) announced the expansion of its IIoT portfolio with its new wireless communication sensor platform. A sensor and communication board for simple integration, a development kit for application-specific customization and a battery-operated wireless sensor endpoint for effortless installation comprise the integrated wireless communication sensor platform.

The wireless infrastructure supports scalability, enabling the easy addition of new sensors as needed. The scalability is particularly advantageous in dynamic manufacturing environments where production processes expanded or modified over time. Wireless sensor networks eliminate the need for extensive cabling, reducing the associated installation costs. The cost-effectiveness makes wireless industrial sensors an attractive solution for both new installations and retrofitting existing manufacturing units.

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Market Segmentation :

The global industrial sensors market is segmented based on sensor type, type, technology, end-user and region.

Growing Adoption of Humidity Sensors in Various Industries Helps to Boost Market Growth

Based on the sensor type, the industrial sensors market is segmented into image sensor, pressure sensor, temperature sensor, level sensor, position sensor, humidity sensor, force sensor, electromagnetic sensor and others. The humidity sensors segment is dominating in the global industrial sensors market. In manufacturing industries, maintaining optimal humidity levels is critical for the quality and efficiency of production processes.

Humidity sensors are employed to monitor and control these levels, ensuring that conditions are suitable for production. In electronics manufacturing, humidity control is vital to prevent damage to sensitive components. Humidity sensors are used to maintain controlled environments, especially in cleanroom facilities. The integration of humidity sensors in consumer electronics, such as smartphones and smart home devices, is growing. The sensors contribute to features like climate control, health monitoring and protection of electronic components from moisture.

Geographical Share :

North America is a Dominating Region in the Industrial Sensors Market Due to the Availability of Tech-Savvy Consumers

North America accounted for the largest market share in the global industrial sensors market due to the rapid industrialization. North America boasts a strong and varied industrial foundation, spanning industries like manufacturing, automotive, aerospace, energy and healthcare. The region's advanced level of industrialization and the existence of pivotal sectors generate significant requirements for industrial sensors. The sensors are crucial for monitoring and managing diverse processes within these industries.

North America's government laws about passenger safety in the automotive industry are anticipated to be a major driver of market expansion for pressure sensors. To educate drivers about the potential under-inflation of automobiles, US government established the TREAD Act, which requires all car models to have Tire Pressure Monitoring Systems installed within 20 minutes of detection.

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Competitive Landscape

The major global players in the market include SAS Institute Inc. oracle Corporation, International Business Machines Corporation, Google LLC, SAP SE, Microsoft Corporation, Informatica Inc., Salesforce, Inc. and Adobe Inc.

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