The Dynamic Shift From Traditional Sensors to Smart Sensors Will Drive the Industrial Sensors Market.

Tue, 13 August 2019 12:31

The real-time monitoring of machine parameters and equipment designed with predictive maintenance require sensors, which is one of the key factors driving advancements in these devices. IO-Link, a prime innovation in this space, is a worldwide open-standard protocol that integrates sensors into connected devices via an IO-Link enabled device. Industrial Sensors Market overcome the traditional challenges associated with analog systems such as signal loss and offer other benefits such as reduced inventory and operational costs, increased productivity, and enhanced flexibility and scalability. Moreover, they facilitate the predictive maintenance of machinery with the help of the data retrieved. Rockwell Automation is one of the key players in the market that offers sensors infused with IO-Link technology.

Demand for Wireless Sensors in Process Industries

Wireless sensor technology is observed to have great potential in commercial, industrial, and consumer applications, specifically in association with process monitoring and control and process data measurements for parameters such as humidity, pressure, humidity, temperature, flow, and density.

Process industries involve a chain of interdependent activities, wherein any disruptions may lead to the failure of the process. Thus, it is imperative to monitor each step and control activities. Wireless sensors help monitor machine health, log data, and monitor resources such as water and wastewater to facilitate the smooth functioning of the operational cycle. Such demanding scenarios in the process industry widen the arena of opportunities for industrial sensors.

Technical Glitches During Installation

Technical hitches in sensor installation have a vital impact on the operations of any organization, resulting in operational delays and low productivity. Over-configuration is the key factor that leads to technical glitches during implementation, with continuous additions and changes to the environment. Unsurprisingly, custom-made solutions further amplify such a risk as deviating from operating standards creates room for failure.

Emergence of Smart Sensors

Industrial sensors are capable of carrying out several primary activities, including safety, security, and monitoring and the emergence of smart sensor technology would further add to the existing capabilities. When compared with typical sensors, smart sensors are equipped with a microprocessor capable of providing interpretive data and customizing outputs that significantly enhance the sensor systems’ capability and performance. Thus, industrial verticals are expected to benefit greatly from this technology.

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Humidity & Temperature Type Sensors to Hold a Substantial Market Share

Level, pressure, and humidity and temperature are the main sensor types available commercially. Among these, humidity and temperature sensors are expected to hold a prominent market share on account of their vital applications in various industrial verticals such as oil and gas, manufacturing, and chemical, where the risks associated with spillage and leakage are extreme. Apart from this, among the various applications of these sensors, the demand for automating logistics and equipment management in the manufacturing sector offers an array of opportunities for the growth of the industrial sensors market.

Regional Insights

  • Dynamic industrial growth in Asia-Pacific to mark the region as an opportunistic market for industrial sensors
  • Rapidly evolving technological capabilities in North America to substantially accelerate the adoption of industrial sensors
  • Demand for efficiency improvements through sensor technologies, particularly across the automotive industry, in Europe to bolster the region’s industrial sensors market

Industry News & Policies

  • In 2017, Rockwell Automation, an industrial automation and information technology provider, acquired Odos Imaging with a focus to leverage the 3D time-of-flight (ToF) technology for sensing and safety applications
  • In 2019, Rockwell launched a photoelectric sensor with IO-Link capability built for demanding applications; the device helps minimize downtime and increase productivity

Key Players

Some of the noteworthy players in the industrial sensors market are Rockwell Automation, Honeywell, Texas Instruments, Amphenol Corporation, Panasonic, STMicroelectronics, First Sensor, Siemens, and E+E ELEKTRONIK GES.M.B.H.

Industrial Sensors Market Segmentation

By Sensor

  • Level
  • Pressure
  • Humidity & Temperature
  • Others

By Application

  • Manufacturing
  • Energy & Power
  • Chemicals
  • Pharmaceuticals
  • Others

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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