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Global Industrial Sensors Market 2018-2022 | Rise in Demand for Smart Factories to Promote Growth | Technavio

September 18, 2018

LONDON--(BUSINESS WIRE)--Sep 18, 2018-- analysts forecast the global industrial sensors market to register a CAGR of almost 8% during the forecast period.

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Technavio has published a new market research report on the global industrial sensors market for the period 2018-2022. (Graphic: Business Wire)

The increasing demand for sensors for remote monitoring is one of the major trends being witnessed in the . The sensors on drilling machines can capture data on pressure, temperature, density, flow rate, and geological and seismic aspects. This facilitates the early detection of errors, reduced failure rates, efficient equipment performance, and reduced downtimes.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the global industrial sensors market is the rise in demand for smart factories and IIoT:

Global industrial sensors market: Rise in demand for smart factories and IIoT

The need for smart factories has increased across the globe. During the forecast period, there will be a further rise in demand for smart factories due to the emergence of IIoT that assimilates smart machines, warehouses, industrial robots, and entire production facilities to achieve corporate goals and key performance indicators.

According to a senior analyst at Technavio for research on automation, “The concept of smart factories can only be adopted in industries which possess real-time monitoring and control due to the employment of industrial sensors and digital interfaces. The industrial sensors market is anticipated to witness growth during the forecast period because of the increased demand for smart asset monitoring in asset-intensive industries such as oil and gas.”

Global industrial sensors market: Segmentation analysis

The global industrial sensors market research report provides market segmentation by product (pressure sensors, temperature sensors, proximity sensors, flow sensors, and level sensors), by end-users (process industries and discrete industries), and by region (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Of the five major products, the pressure sensors segment held the largest market share in 2017, contributing to over 21% of the market. This product segment will dominate the global market throughout the forecast period.

APAC held the largest share of the market in 2017, accounting for over 39% share. It was followed by EMEA and the Americas respectively. APAC is expected to dominate the market throughout the period 2018-2022.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20180918006031/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: BUILDING SYSTEMS TECHNOLOGY HARDWARE MANUFACTURING OTHER MANUFACTURING CONSTRUCTION & PROPERTY

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 09/18/2018 02:51 PM/DISC: 09/18/2018 02:51 PM

http://www.businesswire.com/news/home/20180918006031/en

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