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(Transportation-News.com, July 20, 2022 ) According to a new market research report titled, ‘Industrial Automation Sensors Market by Sensor Type (Level Sensors, Flow Sensors), Type (Contact Sensors, Non-contact Sensors), Mode of Automation, End User, and Geography - Global Forecasts to 2029,’ the overall industrial automation sensors market is projected to reach $22.59 billion by 2029 at a CAGR of 9.6% from 2022 to 2029.
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 adoption of predictive maintenance and the increasing demand for smart sensors from automobile manufacturers to enable safety are expected to offer significant opportunities for the growth of this market.
However, the high installation cost of sensor networks is expected to hinder the growth of this market to a notable extent. Additionally, the precise performance requirements from upcoming advanced sensors pose a major challenge to the growth of this market.
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Impact of COVID-19 on the Industrial Automation Sensors Market
The outbreak of the COVID-19 pandemic led to a widespread economic downturn as several countries imposed strict lockdowns to contain the infection. These lockdowns affected numerous industries due to the impact on manufacturing operations. Global supply chains were significantly impacted, and manufacturing & processing companies faced huge losses during the first and second quarters of 2020 due to disrupted supply chains and delayed production schedules. The rapid spread of COVID-19 in the U.S., Europe, and Asia resulted in nationwide lockdowns and a temporary halting of production facilities to curb the spread of infection.
The high number of COVID-19 cases globally resulted in the increased demand for alcohol-based sanitizers and basic food commodities. The increased consumption of essential food products led to grocery scarcity on retail shelves and disruptions in supply chains in the first and second quarters of 2020. Consumers worldwide limited their spending on essential goods, due to which the demand for automobiles, luxury electronics, and high-priced consumer goods faced a huge decline. Furthermore, the closure of manufacturing plants and operational processes in the oil & gas, chemicals & materials, paper & pulp industries resulted in the limited demand for automation sensors in 2020.
Automation sensor providers witnessed a decline in revenues in 2020 due to the outbreak of the COVID-19 pandemic, which limited operations of industries in the first two quarters. The application sectors in the industrial automation sensors market experienced low to high impacts of the pandemic and are expected to recover in the coming years. The severely hit industries include oil & gas, construction machinery, rubber & plastic machinery, and power generation. These industries are expected to recover slowly and face high impact due to changing consumer patterns, low production, and dependency on end markets.
Some industries that experienced medium impacts were mining, robotics, building technology, electronics, paper & pulp, and process industry equipment. These industries are expected to recover quickly due to their broad range of application markets. The least hit industries were agriculture machinery, food & beverage processing & packaging, and medical & scientific manufacturers as they offer essential goods globally. Additionally, local manufacturing facilities that were temporarily shut down in the first six months of 2020 resumed operations in the third quarter due to the removal of lockdowns and the need for economic growth.
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.
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Based on sensor type, in 2022, the level sensors segment is expected to account for the largest share of the industrial automation sensors market. A level sensor is used to detect and measure the level of liquids, bulk solids, and other fluids. The level measurement is either continuous or in the form of point values. The large market share of this segment is attributed to various factors, such as the need for accuracy, appearance, and response rate, ease of calibration of instruments, size of the instrument, and monitoring and controlling of continuous or point level. However, the gas sensor segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the ability to detect gas leakages in applications across manufacturing industries. Gas sensors monitor gas concentration and environmental information to guarantee production safety across sensitive areas of production facilities.
Based on type, in 2022, the contact sensors segment is expected to account for the largest share of the industrial automation sensors market. The large share of this segment is attributed to the benefits provided by contact sensors, such as the monitoring of doors, windows, and other access points to promote security in industrial operations. However, the non-contact sensors segment is expected to grow at a higher 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. Multiple operations such as factory automation, process & control, manufacturing, engineering, and automation use non-contact sensors for a wide range of applications, driving the growth of this segment.
Based on mode of automation, in 2022, the semi-automatic system segment is expected to account for the largest share of the industrial automation sensors market. However, the fully-automatic system segment is expected to grow at a higher 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.
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Based on end user, in 2022, the oil & gas segment is expected to account for the largest share of the industrial automation sensors market. The large share of the segment is attributed to the implementation of automation sensor technologies to improve decision making, troubleshooting, and performance efficiency in oil & gas exploration activities. However, 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 enable the remote monitoring of plant sites, improve the safety of industrial assets and workers, and optimize operational efficiency. The integration of these industrial sensors in manufacturing services helps decrease maintenance costs by achieving early fault detection.
Based on geography, in 2022, Asia Pacific is expected to account for the largest share of the industrial automation sensors market. The growth of this regional market is attributed to the growing industrial sector, 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, growing electronics industry, growing automobile industry, 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.
Some of the key players operating in the industrial automation sensors market are Amphenol Corporation (U.S.), Honeywell International Inc. (U.S.), Infineon Technologies AG (Germany), NXP Semiconductors (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.S.), Bosch Sensortec GmbH (Germany), ABB Ltd (Sweden), Analog Devices, Inc. (U.S.), and Sensirion AG (Switzerland).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/industrial-automation-sensors-market-5281
Scope of the Report:
Industrial Automation Sensors Market, by Sensor Type
Level Sensors
Temperature Sensors
Flow Sensors
Gas Sensors
Position Sensors
Pressure Sensors
Force Sensors
Humidity & Moisture Sensors
Image Sensors
Other Sensors
Industrial Automation Sensors Market, by Type
Contact Sensors
Non-contact Sensors
Industrial Automation Sensors Market, by Mode of Automation
Semi-automatic Systems
Fully-automatic Systems
Industrial Automation Sensors Market, by End User
Oil & Gas
Automotive
Food & Beverage
Semiconductors & Electronics
Chemicals & Materials
Consumer Goods
Mining & Metals
Power
Pharmaceuticals & Biotech
Machines & Tools
Paper & Pulp
Aerospace & Defense
Other End Users
Industrial Automation Sensors Market, by Geography
Asia-Pacific
China
Japan
India
South Korea
Singapore
Thailand
Taiwan
Rest of Asia-Pacific (RoAPAC)
Europe
Germany
U.K.
Italy
Netherlands
Sweden
France
Spain
Rest Of Europe (RoE)
North America
U.S.
Canada
Latin America
Brazil
Mexico
Rest of Latin America (RoLATAM)
Middle East & Africa
South Africa
UAE
Saudi Arabia
Rest of the Middle East & Africa (RoMEA)
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Source: EmailWire.Com 
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