Industrial Sensors Market Size [2022-2029] Industry Trends, Share, Growth, SWOT Analysis, Market Drivers
The global Industrial Sensors Market Size is expected to rise with an impressive CAGR and generate the highest revenue by 2029. Fortune Business Insights™ in its latest report published this information. The report is titled "Industrial Sensors Market Size, Share and Trends Forecast". The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period [2022 - 2029].
- Fortune Business Insights says that the market value stood at US $ 19.29 Billion in 2019
- By 2027, the Industrial Sensors Market size is expected to reach US $ 33.56 Billion
- The market is expected to grow at a CAGR of 7.2% in the forecast period (2020-2027).
- The growth rate of the Global Industrial Sensors Market is 7.2%, with an estimated value of US $ 33.56 Billion million by 2027.
Gather more insights about the market drivers, restrains and growth of the Global Industrial Sensors Market
Driving Factor:
Growing Presence of Industry 4.0 Startups to Aid Market Expansion
The proliferation of startups specializing in Industry 4.0 technologies is emerging as one of the most exciting factors augmenting the industrial sensors market growth. Manufacturers around the globe are actively searching for comprehensive solutions to bring about greater efficiency in their factory operations. To meet this urgent demand, several startups have emerged and are rapidly expanding.
For example, Smart Industry Solutions, a Brazilian startup, develops information and operation technology solutions for industry 4.0 areas, encompassing activities in local factories to the end-use customer. Similarly, US-based Edge2Web offers ‘Director’, the company’s tool suite for building, testing, and operating advanced industrial functionalities. Startups are also engineering IIoT solutions and industrial sensors to address the all-important maintenance issues faced by factory managers. For example, Vibrobox, a startup based in Belarus, develops vibration sensors for automated prescriptive maintenance for industrial equipment. Thus, the birth of industry 4.0-focused startups will ensure a highly-dynamic growth trajectory for this market.
Major companies in Industrial Sensors Market Report are:
- Texas Instruments (Texas, United States)
- TE Connectivity (Schaffhausen, Switzerland)
- Siemens(Munich, Germany)
- Safran Colibrys SA (Yverdon-les-Bains, Switzerland)
- PCB Piezotronics, Inc. (United States)
- Omega Engineering (Biel/Bienne, Switzerland)
- Microchip (Arizona, United States)
- Honeywell (North Carolina, United States)
- Figaro Engineering Inc. (Osaka, Japan)
- Amphenol Corporation (Connecticut, United States)
- Teledyne Technologies Incorporated (California, United States)
- STMicroelectronics(Geneva, Switzerland)
- Sensirion (Stäfa, Switzerland)
- Rockwell Automation (Wisconsin, United States)
- Panasonic(Osaka, Japan)
- Integrated Device Technology (California, United States)
- Bosch Sensortec (Reutlingen, Germany)
- Ams AG (Premstätten, Austria)
Pre-Post COVID-19 Impact on Global Industrial Sensors Market
COVID-19 is an infectious disease caused by the most recently discovered novel corona virus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks.
In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the Industrial Sensors Market, since end-user industries were still not operating at their full capacity.
Secondary Research:
This research study made extensive use of secondary sources, directories, and databases such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global Industrial Sensors Market. Other secondary sources included company annual reports, press releases, and investor presentations, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research:
Various sources from both the supply and demand sides were interviewed during the primary research process to obtain qualitative and quantitative information for this report. Primary sources included industry experts from the core and related industries, as well as preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations from all segments of the value chain of this industry. To obtain and verify critical qualitative and quantitative information, in-depth interviews were conducted with a variety of primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants.
Estimation of Market Size
The total size of the Industrial Sensors Market was estimated and validated using both top-down and bottom-up approaches. These methods were also widely used to estimate the size of various market sub segments. The following research methodologies were used to estimate market size:
Extensive secondary research was used to identify the industry’s key players.
The revenues generated by the market’s leading players in molecular diagnostics have been determined through primary and secondary research.
All percentage shares, splits, and breakdowns were calculated using secondary sources and confirmed using primary sources.
FAQ's:
1. How big is Industrial Sensors Market?
The global industrial sensors market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period, to Reach USD 33.56 Billion by 2027, from USD 19.29 Billion in 2019
2. Who is the market leader in Industrial Sensors?
Major Points in Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Annexure / Appendix
- Global Industrial Sensors Market Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
TOC Continued...!
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