Industrial Automation Sensors Market (2022-2029)
The Industrial Automation Sensors Market is projected to reach $22.59 billion by 2029 at a CAGR of 9.6% from 2022 to 2029.
- Published
- Jul 2022
- Pages
- 226
- Format
- PDF + Excel
- Report ID
- MRSE - 104595
- Base year
- 2021
- 2029 · FORECAST
- $22.59B
- 2029
- $22.59B
- CAGR 2022–2029
- 9.6%
2021 baseline · 2022–2029 forecast at 9.6% CAGR · hover a bar for the value
Key highlights
Image Sensors Segment Expected to Grow at Highest CAGR During Forecast Period
Non-contact Sensors Segment Expected to Grow at Highest CAGR During Forecast Period
Fully-Automatic System Segment Expected to Grow at Highest CAGR During Forecast Period
Automotive Segment Expected to Grow at Highest CAGR During Forecast Period
Asia-Pacific to be the Fastest-growing Regional Market
Report summary
| Particulars | Details |
|---|---|
| Base Year | 2021 |
| Estimated Year | 2022 |
| Forecast Period | 2022–2029 |
| Market Size (2029) | USD 22.59 billion |
| CAGR (2022–2029) | 9.6% |
| Format | PDF, Excel & Cloud Portal · 226 pages |
| Segments Covered | By Sensor Type: Image Sensors, Pressure Sensors, Temperature Sensors, Position Sensors, Humidity & Moisture Sensors, Level Sensors, Flow Sensors, Gas Sensors, Force Sensors, Other Sensors · By Type: Contact Sensors, Non-contact Sensors Photonic Sensor, Hall Effect Sensor, Capacitive Sensor, Ultrasonic Sensor, Inductive Sensor, Laser Displacement Sensor · By Mode of Automation: Semi-automatic Systems, Fully-automatic Systems · By End User: Oil & Gas, Automotive, Food & Beverage, Semiconductor & Electronics, Chemicals & Materials, Consumer Goods, Mining & Metals, Pharmaceuticals & Biotech, Power, Machines & Tools, Paper & Pulp, Aerospace & Defense, Other End-users (Textile and Agriculture) |
| Countries Covered | Asia-Pacific (RoAPAC), Europe (RoE), Latin America (RoLATAM), Middle East & Africa (RoMEA) |
| Key Companies | Amphenol Corporation (U.S.), Honeywell International Inc. (U.S.), Infineon Technologies AG, NXP Semiconductors N.V., Renesas Electronics, Corporation, Rockwell Automation, Inc. (U.S.), Siemens AG, STMicroelectronics International N.V., TE Connectivity Ltd., Texas Instruments Incorporated (U.S.), Dwyer Instruments Ltd. (U.K.), Bosch Sensortec GmbH, ABB Ltd., Analog Devices, Inc. (U.S.), Sensirion AG |
Report overview
Segments covered: sensor type, type, mode of automation, end user. Regions: Asia-Pacific, Europe, Latin America, Middle East & Africa.
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.
The outbreak of the COVID-19 pandemic severely impacted the growth of several industries, including manufacturing and oil & gas. Oil & gas is a major end-use industry of the industrial automation sensor market. The outbreak of the COVID-19 pandemic posed several challenges to many ongoing or new projects across the oil & gas value chain in project execution, planning, and risk management. More than 2000 EPC oil & gas projects across various segments, including LNG, petrochemical, and oil storage & refineries, came to a halt or were delayed due to the pandemic.
The energy research firm Rystad Energy has predicted that a 25% decline in oil prices is expected to cut oil and gas investments by $30 billion worldwide. Apart from oil & gas, many other industries worldwide, including power generation and mining, suspended production activities due to the pandemic. The suspension of production activities hindered the demand for industrial automation sensors.
Furthermore, the COVID-19 pandemic led several manufacturing companies to temporarily work at reduced capacities to contain the spread of infection, negatively impacting the market's supply chain by creating shortages of materials, components, and finished goods. The lack of business continuity negatively impacted shareholder returns and revenue, which are expected to create financial disruptions in the industrial automation sensors industry.
The industrial automation sensors market is segmented based on sensor type, type, mode of automation, end user, and geography. The study also evaluates industry competitors and analyses the market at the country level.
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, accelerating 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.
Report infographic
Table of contents
13 chapters · 123 sections · 226 pages · click to expandSegmental analysis
| Segment | Largest share (2022) | Fastest growth (2022–2029) |
|---|---|---|
| By Sensor Type | — | Image sensors |
| By Type | — | Non-contact sensors |
| By Mode of Automation | — | Fully-automatic system |
| By End User | — | Automotive |
By Sensor Type
- Image Sensors Segment Expected to Grow at Highest CAGR During Forecast Period
- The image sensors segment is projected to grow at the highest CAGR during the forecast period.
- The growth 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.
By Type
- Non-contact Sensors Segment Expected to Grow at Highest CAGR During Forecast Period
- The non-contact sensors segment is projected to grow at the highest CAGR during the forecast period.
- The growth of this segment is attributed to the various advantages offered by non-contact sensors over contact devices, such as spontaneity, reliability, longevity, and performance consistency.
- Non-contact sensors are used for process and control, automation, manufacturing, engineering, and other operations across many industries, driving the growth of this segment.
By Mode of Automation
- Fully-Automatic System Segment Expected to Grow at Highest CAGR During Forecast Period
- The fully-automatic system segment is expected to grow at the highest CAGR during the forecast period.
- The increasing focus on maintaining hygiene and food safety and the need to boost production capabilities, minimize human interventions, and increase the ROI are expected to propel the demand for fully-automatic systems in the industrial automation sensors market.
By End User
- Automotive Segment Expected to Grow at Highest CAGR During Forecast Period
- The automotive segment is expected to grow at the highest CAGR during the forecast period.
- The growth of this segment is attributed to the increasing acceptance of IoT sensors in processing plants and manufacturing.
- In addition, the IoT-based industrial automation sensors allow manufacturers to monitor plant sites remotely, improve the safety of industrial assets and workers, and optimize operational efficiency.
- Integrating these industrial sensors in manufacturing services helps decrease maintenance costs by achieving early fault detection.
Geographic analysis
Asia-Pacific
Fastest growthThe high market growth in Asia-Pacific is driven by 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; rapid technological advances; 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. Asia-Pacific to be the Fastest-growing Regional Market
Competitive landscape
- 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.)
- Sensirion AG · Switzerland
Frequently asked questions
The report covers the market sizes & forecasts of the industrial automation sensors market based on sensor type, type, mode of automation, end user, and geography. The market study involves the value analysis of various automation sensor segments at country and regional levels.
Cite this report
Meticulous Research. (2022). Industrial Automation Sensors Market - Global Opportunity Analysis and Industry Forecasts (2022-2029) (Report No. MRSE - 104595). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/industrial-automation-sensors-market-5281