Industrial Sensors Market Size, By Product (Level Sensor, Temperature Sensor, Flow Sensor, Position Sensor, Pressure Sensor, Force Sensor, Image Sensor, Gas Sensor), By Application (Energy & Power, Oil & Gas, Mining, Chemical, Manufacturing, Pharmaceutica

Industrial Sensors Market Size, By Product (Level Sensor, Temperature Sensor, Flow Sensor, Position Sensor, Pressure Sensor, Force Sensor, Image Sensor, Gas Sensor), By Application (Energy & Power, Oil & Gas, Mining, Chemical, Manufacturing, Pharmaceutical), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 - 2032

Global Industrial Sensors Market is slated to grow considerably through 2032 owing to the increasing preference and usage of force sensors in material handling robots.

The demand for both crude oil and natural gas is constantly on the rise due to the increasing mobility and industrialization worldwide, positively influencing the use of gas sensors. These sensors provide several benefits, including the ability to gauge combustible gases, the potential to identify fire, and the elimination of false alarms produced by vapor.

Market participants are focusing on the launch of new products to remain competitive in the global market. For instance, in September 2022, Ouster, Inc., a supplier of digital sensors, unveiled a 3D industrial lidar sensor suite that was created especially for high-volume materials management uses. The sensors OS0 and OS1 are set up to meet the rising need by producers of forklifts, pig equipment, as well as mobile autonomous robot.

The industrial sensors market has been divided in terms of product, application, and region.

Based on product, the pressure sensor segment is speculated to grow at 5% CAGR from 2023 to 2032, credited to a rise in demand for pressure sensors used in food & beverage factories. Pressure sensors are likely to take over the industrial sensor market driven by the introduction of MEMS (micro-electro-mechanical) technology, which has increased the performance and dependability of pressure sensors and widened their applications in the military, chemical, and equipment manufacturing, as well as other industries.

With respect to application, the energy & power segment is anticipated to thrive during the review years fueled by the expanding use of IoT in energy and power applications. The connection of IoT with sensor modules enables the real-time transfer of data and analysis for a variety of parameters, such as pressure, temperature, and flow rate.

From the regional perspective, the North America industrial sensors market is poised to depict over 10% CAGR from 2023 to 2032. The industrial sector is rapidly expanding in the region, which calls for more advanced automated systems, in turn propelling the demand for industrial sensors. In addition, rising government initiatives to accelerate the growth of the manufacturing industry in the region will drive the use of robotic systems, collaborative robots, as well as automated robots, further fostering regional expansion.