Market Overview:
Industrial Smart Sensors Market size exceeded USD 32.4 Billion in 2022 and is expected to showcase a CAGR of over 10.7% from 2023 to 2032. By the end of the forecast period, the market is anticipated to record a valuation of around USD 88.7 Billion.
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Industrial smart sensors are devices that can sense physical or environmental conditions and communicate that information to other systems or devices in an industrial setting. These sensors are designed to provide accurate and reliable data to help improve efficiency, safety, and productivity in various industries.
Smart sensors can collect and process data in real-time, allowing companies to monitor and analyze their operations and make data-driven decisions. They can measure various parameters such as temperature, pressure, humidity, motion, and vibration, among others, and transmit this data wirelessly to a central control system or a cloud-based platform for further analysis.
This sensor is their ability to provide early warnings of potential problems. For example, a temperature sensor can detect a rise in temperature in a machine, signaling the need for maintenance or repair before a breakdown occurs. This can help prevent costly downtime and reduce the risk of accidents.
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Industrial Smart Sensors Market Value Insights |
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Report Coverage |
Details |
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Base Year |
2022 |
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Market Size in 2022 |
USD 32.4 Billion |
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Forecast Period |
2023 to 2032 |
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CAGR (2023 to 2032) |
10.7% |
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Forecast Year Value, 2032 |
USD 88.7 Billion |
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Historical Data for |
2019 to 2022 |
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Segment Covered |
Sensor Type, End User, Region |
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Companies Covered |
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Growth Factor:
Increasing demand for automation and IoT-enabled devices in various industries, are driving the growth of the industrial smart sensors market. Companies are turning to smart sensors to help them monitor and optimize their processes as they strive to improve operational efficiency and reduce costs. This is especially true in industries like manufacturing, logistics, and transportation, where smart sensors can help reduce downtime, improve product quality, and improve safety.
The increasing adoption of Industry 4.0 technologies is also a significant factor driving the growth of the industrial smart sensors market. The term "Industry 4.0" refers to the trend of digitization and automation in manufacturing and other industries. This includes the use of smart sensors and IoT-enabled devices.
By Type Synopsys:
Industrial smart sensors market can be categorized into different types of sensors, including Flow Sensors, Position Sensors, Touch Sensors, Pressure Sensors, Temperature Sensors, Image Sensors, and Motion & Occupancy Sensors. Among these, the Temperature Sensors segment is expected to experience the highest compound annual growth rate (CAGR) during the forecast period.
Smart temperature sensors are widely used in measurement control systems and instrumentation, making them a key component in these applications. Temperature Sensors provide a digital temperature reading that can be easily interpreted, making them valuable in healthcare, automotive, and building automation industries. With advancements in IC technology, researchers have been able to integrate bipolar transistors into temperature sensors along with interface electronics, resulting in advanced Temperature Sensors.
Regional Overview:
The increasing demand for advanced sensor technology in industries such as automotive, aerospace, and defense, the North American region is a significant market for industrial smart sensors. The presence of major regional players such as Honeywell, Emerson Electric, and Rockwell Automation has also contributed to the industry growth.
However, increasing adoption of automation in various industries such as automotive, consumer electronics, and healthcare, the Asia-Pacific region is the fastest-growing market for industrial smart sensors. Government initiatives to promote industrial automation in countries such as China, India, and Japan have also contributed to market growth.
Recent Development:
- In October 2021, ABB will release its new FusionAir Smart Sensor, a touch-free room sensor designed to reduce indoor air pollution. This ideal room control sensor can monitor temperature, humidity, carbon dioxide (CO2), and volatile organic compounds (VOCs) in order to improve overall IAQ and reduce the risk of viral exposure. The FusionAir is suitable for use in commercial buildings, hotels, educational institutions, and public recreational areas.
- In January 2022, Infineon (Germany) introduced new CO2 sensors, the XENSIV PAS CO2 sensor, to meet the growing demand for accurate indoor air quality.
Top companies include in the global industrial smart sensors market are:
- ABB Ltd.
- Analog Devices, Inc.
- Eaton Corporation
- Honeywell International, Inc.
- Infineon Technologies AG
- Microsemi Corporation
- NXP Semiconductors
- Omron Corporation
- Ottomate International
- Renesas Electronics Corporation
- Rockwell Automation, Inc.
- SICK AG
- STMicroelectronics
- Texas Instruments Incorporated
- Vishay Intertechnology
- Yokogawa Electric Corporation
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In-depth analysis of industrial smart sensors market along with industry coverage and forecasting for the following segments:
Market Value, By Sensor Type
- Temperature & Humidity Sensors
- Pressure Sensors
- Flow Sensors
- Touch Sensors
- Image Sensors
- Motion & Occupancy Sensors
- Water Sensors
- Position Sensors
- Light Sensors
- Ultrasonic Sensors
- Others
Market Value, By Technology:
- MEMS
- CMOS
- Others
Market Value, By Component:
- Analog-to-Digital Converters (ADC)
- Digital-to-Analog Converters (DAC)
- Transceivers
- Amplifiers
- Microcontrollers
- Others
Market Value, By End User
- Aerospace & Defense
- Automotive
- Biomedical & Healthcare
- Industrial Automation
- Building Automation
- Consumer Electronics
- Others
Market Value, By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America