Industrial Sensors Market Size, Share, Growth Analysis, By Type (Pressure Sensors, Image Sensors), By Technology (Packaging Technology Optical Sensing Technology), By End Use (Discrete, Process Industry), By Region - Industry Forecast 2024-2031

Global Industrial Sensors Market size was valued at USD 26.60 Billion in 2022 and is poised to grow from USD 28.51 Billion in 2023 to USD 46.39 Billion by 2031, growing at a CAGR of 7.20% during the forecast period (2024-2031).

Sensors have become essential tools in the manufacturing sector, particularly with the shift toward Industry 4.0 and factory automation. They play a key role in optimizing the efficiency and effectiveness of operating equipment, as well as increasing machine uptime. As industrial automation becomes more prevalent, sensing technology is expected to remain fundamental for data collection, helping to transform factory floors into reliable, cost-efficient, and interconnected environments. This trend has garnered significant attention from industrial communities and researchers alike, leading to increased integration of sensors in automation systems. A notable example is ROHM Semiconductor's introduction of the BM1390GLV (-Z), a compact, high-precision barometric pressure sensor IC. With an IPX8 waterproof rating, this new device is ideally suited for use in small IoT devices, industrial machinery, and household appliances. ROHM Semiconductor developed this sensor in response to the growing demand for pressure sensors across various applications. The innovation underscores the importance of advanced sensing technology in meeting the evolving needs of the industrial sector.

Top-down and bottom-up approaches were used to estimate and validate the size of the global Industrial Sensors market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Industrial Sensors Market Segmental Analysis

Global Industrial Sensors Market is segmented on the basis of sensor type, type, end-user and region. Based on sensor type, the market is segmented into Level, Temperature, Flow, Gas & Chemical, Position (Linear position sensors, Rotary position sensors), Pressure, Force, Humidity & Moisture (Capacitive, Resistive), and Image. Based on technology, the market is segmented into Packaging Technology (System-in-package (SIP), System-on-chip (SOC)), Microelectromechanical Systems (MEMS) Technology (Very-large-scale Integration Technology (VLSI), Nanoelectromechanical Systems (NEMS)), CMOS Technology, Optical Sensing Technology, Other Technologies (Optical Spectroscopy, Microsystems Technology, Integrated Industrial Sensors-hybrid Sensors, IC-compatible 3D Microstructuring, Application-specific Integrated Circuits). Based on type, the market is segmented into contact, and no-contact. Based on end user, market is segmented into manufacturing, oil & gas, chemicals, pharmaceuticals, energy & power, and mining. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Industrial Sensors Market

The rise of the Internet of Things (IoT) has prompted industries to reassess their business strategies in order to extract valuable data and insights from Industrial IoT (IIoT) devices. This shift is fostering a data-sharing ecosystem that is unlocking new business opportunities and revenue streams. As the IIoT drives "decision-making" devices, the real-time and aggregated data collected from sensors has paved the way for the development of robots equipped with advanced capabilities to perform specific tasks. Consequently, the growing adoption of IoT is driving increased demand for sensing components. This trend is expected to fuel the expansion of the global industrial sensors market during the forecast period.

Restraints in the Global Industrial Sensors Market

The sensing capabilities of sensors are largely dictated by their specific applications, leading to challenges in measurement and sensing accuracy. For instance, in the automotive industry, sensors must accurately measure parameters such as pressure, temperature, location, and flow, which differ significantly from the requirements in the oil and gas industry. As a result, the performance standards for these sensors become critical in advanced applications. This variation in performance requirements is expected to pose a constraint on the global industrial sensors market in the near future.

Market Trends of the Global Industrial Sensors Market

The sensing capabilities of sensors are largely dictated by their specific applications, leading to challenges in measurement and sensing accuracy. For instance, in the automotive industry, sensors must accurately measure parameters such as pressure, temperature, location, and flow, which differ significantly from the requirements in the oil and gas industry. As a result, the performance standards for these sensors become critical in advanced applications. This variation in performance requirements is expected to pose a constraint on the global industrial sensors market in the near future.