Industrial Sensors Market A Big-Ticket Item

The “Industrial Sensors Market by Sensor Type, Application, and Geography - Global Forecast to 2023” report published by MarketsandMarkets sees the industrial sensors market valued at $16.0 billion in 2018 and is likely to reach $21.6 billion by 2023, at a CAGR of 6.16%. Growth of this market is allegedly driven by growing Industrial 4.0 and IIoT markets, a surging wireless sensors market, and burgeoning demand for industrial robots.

 

High Points

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  • Level sensor to hold largest share of industrial sensors market in 2018
  • Market for noncontact sensors to grow at higher CAGR during forecast period
  • APAC expected to hold largest share of industrial sensors market in 2018
  • North America is expected to account for the second-largest share of the industrial sensors market throughout the forecast period. The US currently accounts for the largest share of the industrial sensors market in North America, followed by Canada and Mexico.
  • A few major players operating in the industrial sensors market are Rockwell Automation (US), Honeywell (US), Amphenol Corporation (US), Texas Instruments (US), Panasonic (Japan), STMicroelectronics (Switzerland), First Sensor (Germany), and Siemens (Germany).
     
    For more details, speak to a MarketsandMarkets analyst and checkout more of the report.
     
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