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Industrial Sensors Market to Grow by USD 14.3 Billion (2024-2028), Driven by Demand for Smart Factories and IIoT, AI-Powered Report Highlights Market Trends – Technavio

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NEW YORK, Nov. 13, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global industrial sensors market size is estimated to grow by USD 14.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.44% during the forecast period. Rise in demand for smart factories and iiot is driving market growth, with a trend towards increasing demand for sensors for remote monitoring. However, growing challenges in delivering high quality at low cost poses a challenge.Key market players include Amkor Technology Inc., Amphenol Advanced Sensors, Analog Devices Inc., Broadcom Inc., Excelitas Technologies Corp., Hamamatsu Photonics KK, Honeywell International Inc., Itron Inc., Maxim Integrated Products Inc., Motion Solutions, Murata Manufacturing Co. Ltd., NXP Semiconductors NV, Renesas Electronics Corp., Robert Bosch GmbH, Rockwell Automation Inc., ROHM Co. Ltd., Sensata Technologies Inc., Siemens AG, STMicroelectronics International N.V., TDK Corp., TE Connectivity Ltd., and Texas Instruments Inc..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Process industries and Discrete industries), Product (Pressure, Temperature, Proximity, Flow, and Others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America)

Region Covered

APAC, Europe, North America, Middle East and Africa, and South America

Key companies profiled

Amkor Technology Inc., Amphenol Advanced Sensors, Analog Devices Inc., Broadcom Inc., Excelitas Technologies Corp., Hamamatsu Photonics KK, Honeywell International Inc., Itron Inc., Maxim Integrated Products Inc., Motion Solutions, Murata Manufacturing Co. Ltd., NXP Semiconductors NV, Renesas Electronics Corp., Robert Bosch GmbH, Rockwell Automation Inc., ROHM Co. Ltd., Sensata Technologies Inc., Siemens AG, STMicroelectronics International N.V., TDK Corp., TE Connectivity Ltd., and Texas Instruments Inc.

Key Market Trends Fueling Growth

The Industrial Sensors market is experiencing significant growth due to the trend towards automation and real-time data in various industries. The Internet of Things (IoT) is driving the demand for sensors in areas like factory automation, infrastructure development, and smart cities. Transparency and efficiency are key benefits, leading to profitability and predictive maintenance through machine learning algorithms. Sensors play a crucial role in monitoring operational equipment, ensuring machine uptime and optimizing industrial processes. Level sensors, pressure sensors, and temperature sensors are common types used for process and quality control. Legacy machinery integration is also a focus, with companies like Asystom and Platinum providing solutions. IoT-enabled sensors offer wireless connectivity and automated machinery for remote monitoring and control. Companies like Viezo, Hiber BV, and Omron Automation provide wireless autonomous sensors and advanced software for real-time data collection. Industries like renewable energy, manufacturing, and logistics are investing in cost-effective facilities and smart sensors for material sorting, inventory counting, and root error detection. Sensing technology is essential for industries dealing with raw materials, such as powders, liquids, and gases, ensuring product quality and preventing facility stoppages and slowdowns. Advanced automation systems using sensors enable real-time pictures for quality inspection and monitoring capabilities for robotics applications. Infrastructure development in industrial communities relies on sensors for liquid pressure measurement, monitoring vacuum pumps, and detecting gas leakages. Overall, the Industrial Sensors market is a vital component of digital technologies and connected devices, driving productivity and efficiency in various industries. 

The industrial sensors market is experiencing significant growth due to the increasing demand for advanced technologies in the oil and gas industry. Unconventional resources pose unique challenges, necessitating new sensors, processes, and analytics. Traditional systems lacked the ability to seamlessly integrate and operate field-to-cloud systems, particularly in large installations. However, the emergence of the Industrial Internet of Things (IIoT) presents a major opportunity for technological advancements. Global companies are upgrading their infrastructure to leverage IIoT’s open, high-bandwidth protocols and cost-effective, intelligent networks. This transformation will enhance connectivity, monitoring, and process automation in industrial applications. 

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Market Challenges

The Industrial Sensors Market is experiencing significant growth due to the increasing demand for real-time data, transparency, efficiency, and profitability in various industries. The Internet of Things (IoT) is playing a major role in this trend, enabling predictive maintenance through machine learning algorithms and automated machinery. Sensors are crucial for condition monitoring in industries such as manufacturing, renewable energy, and smart cities. Challenges include integrating legacy machinery, ensuring infrastructure development, and dealing with false detection. Sensors for level measurement, pressure, temperature, motion, and flow are in high demand. Companies like Asystom, Platinum, Viezo, Hiber BV, and Omron Automation are leading the way with innovative solutions. Industrial processes require advanced automation systems for machine uptime and productivity. Digital technologies, connected devices, and advanced software are transforming the factory floor, enabling cost-effective facilities and improved industrial communities. Sensors for raw materials, gas leakages, and liquid pressure measurement are essential for industrial process control. In conclusion, the Industrial Sensors Market is a dynamic and evolving landscape, driven by the need for efficiency, profitability, and real-time data. Companies that can provide cost-effective, reliable, and innovative sensing technology will be at the forefront of this market.Industrial sensors play a crucial role in automating manufacturing processes and ensuring accurate and reliable data collection in various industries. Engineers and system developers are constantly seeking advanced sensors to expand their product offerings, as industrial automation continues to grow. However, the cost of customized sensors can be a significant barrier for many end-users. While off-the-shelf sensors have become more affordable, those tailored for specific applications in industrial process control remain more expensive due to their advanced technology. Vendors must balance affordability with customization to meet the demands of their clients and remain competitive in the market.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This industrial sensors market report extensively covers market segmentation by

End-user 1.1 Process industries1.2 Discrete industriesProduct 2.1 Pressure2.2 Temperature2.3 Proximity2.4 Flow2.5 OthersGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Process industries- Industrial sensors play a crucial role in various process industries, including oil and gas, food and beverage, pharmaceuticals and healthcare, and water and wastewater treatment. In the oil and gas sector, industrial sensors facilitate the management of supply chain, production, and quality control, while ensuring minimal environmental impact. The food and beverage industry is witnessing a trend towards automation, with industrial sensors being used for efficient shelf and inventory management, and advanced image recognition for detecting missing or misplaced items. In the pharmaceuticals and healthcare sectors, the focus is on capitalizing on opportunities in research and development, leading to increased investment in industrial sensors for high-throughput optimization and regulatory compliance. The water and wastewater treatment industry is experiencing significant growth due to the increasing demand for potable water and the need for energy-efficient processes. Industrial sensors are essential in this industry for desalination, water reuse, and recycling applications. The power industry is also adopting industrial sensors on a large scale, particularly in smart grid applications for power monitoring, demand-side energy management, and coordination of distributed storage. These industries collectively contribute to the growth of the global industrial sensors market during the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Industrial Sensors Market is experiencing significant growth due to the integration of the Internet of Things (IoT) technology, enabling real-time data collection and analysis. This transparency leads to increased efficiency and profitability for industries by enabling predictive maintenance through machine learning algorithms and automated machinery. Condition monitoring sensors, including level sensors, pressure sensors, and image sensors, play a crucial role in optimizing industrial processes. Companies are investing in advanced sensing technology such as Platinum sensors, CMOS image sensors, and IPX8 sensors to enhance operational equipment performance and ensure machine uptime. Semiconductor companies are at the forefront of this trend, providing cost-effective facilities for industrial communities. The E2EW Series, for example, offers a comprehensive solution for data collection and analysis, making it an essential tool for industrial automation.

Market Research Overview

The Industrial Sensors market is experiencing significant growth due to the increasing adoption of Internet of Things (IoT) technology and the demand for real-time data in various industries. Transparency, efficiency, profitability, and predictive maintenance are key drivers for this market. Industrial sensors play a crucial role in various applications such as condition monitoring, level sensors, process control, and quality control. Infrastructure development in sectors like smart cities, renewable energy, and legacy machinery is also fueling the demand for advanced sensing technology. Sensors used in industrial applications include pressure sensors, temperature sensors, motion sensors, flow sensors, and proximity sensors. These sensors are integrated with machine learning algorithms and automated machinery to enable predictive maintenance and improve machine uptime. The use of wireless autonomous sensors and HiberHilo’s long-range wireless sensors is increasing in industrial automation and factory automation. The sensor market is expanding to include advanced automation systems, digital technologies, and connected devices. Industrial processes such as mixed-metal production lines, material sorting, inventory counting, and quality inspection are being optimized through the use of smart sensors and remote sensing capabilities. Real-time pictures and temperature monitoring are essential for quality inspection, while flow sensors help measure the quantity and flow rate of moving liquids and gases. The Industrial Sensors market is expected to continue growing as industries seek to improve machine performance, reduce facility stoppages, and minimize false detection. The use of sensors in industrial processes is essential for optimizing raw materials and improving overall productivity. The integration of advanced software and robotics applications is also driving innovation in the sensor market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userProcess IndustriesDiscrete IndustriesProductPressureTemperatureProximityFlowOthersGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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 17,000 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Microland honored with STPI Karnataka IT Export Awards 2023-24

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BENGALURU, India, Nov. 26, 2024 /PRNewswire/ — Microland, India’s leading IT infrastructure services company, has been conferred with the Best Performance in High Growth in Exports – IT/ITES award for its category at the Software Technology Parks of India (STPI) Karnataka IT Export Awards for the year 2023-24. This recognition highlights Microland’s contribution to IT / Electronic Hardware Companies of Karnataka under STPI.

The award ceremony was held on 20th November 2024, as part of the 27th edition of the ‘Bengaluru Tech Summit’ event.

For over two decades, the STPI IT Export Awards have been a symbol of excellence and influence in the tech world, celebrating companies that achieve groundbreaking success in IT and ITES exports. 

Sam Mathew, President, Microland, said, “We are excited to receive the prestigious recognition from STPI. Microland is committed to delivering world-class services to our clients and raising the bar with every milestone we achieve.”

Rajesh Kharidehal, Chief Financial Officer, Microland, added, “It is an honor to receive this award from STPI. At Microland, we constantly strive to deliver value to our stakeholders and this award is validation of the work we are doing for our clients.”

In early August 2024, Microland was awarded the prestigious World Class 5-star rating by the Service Desk Institute (SDI) for the quality of IT service and support operations. Microland is the third company globally and the first company in India to attain this accolade. Microland has also achieved a gold rating from EcoVadis, underscoring its exceptional performance in Environment and Sustainable Procurement, reflecting its commitment to high Environmental, Social, and Governance (ESG) standards.

Earlier this year, Microland achieved certification as a Great Workplace by Great Place To Work® for the second time.

About Microland

Microland is a pioneering IT Infrastructure services and consulting company headquartered in Bengaluru, India, with a proven track record of delivering tangible business outcomes for 35 years. Today, as enterprises recognize that networks underpin the functionality and efficiency of modern digital systems and support innovation, we provide next-generation technologies such as AI, automated operations, and platform-driven solutions – which drive operational excellence, agility, and productivity for organizations worldwide. Our team of over 4,600 experts delivers services in over 100 countries across Asia, Australia, Europe, the Middle East, and North America, offering cutting-edge solutions in networks, cloud, data centers, cybersecurity, services management, applications, and automation. Recognized by leading industry analysts for our innovative strategies, Microland is committed to strong governance, environmental sustainability, and fostering an inclusive workplace where diverse talent thrives. When businesses work with Microland, they connect with the best talent, technologies, and solutions to create unparalleled value.

For more information, visit www.microland.com

Contact: sobia.sahar@microland.com

Logo: https://mma.prnewswire.com/media/2483706/Microland_Logo.jpg

 

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The total mileage of UAV transmission line inspection of State Grid Turfan Power Supply Company exceeded 50,000 kilometers

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TURFAN, China, Nov. 26, 2024 /PRNewswire/ — On November 22, the transmission and operation inspection center of State Grid Turfan Power Supply Company successfully completed the line inspection task of the 110 thousand volt Jiaolang line, marking the company’s 389th unmanned aerial vehicle inspection task in the year. Since 2016, the State Grid Turfan Power Supply Company has actively applied and promoted UAV inspection technology, and has achieved full coverage of UAV transmission line inspection in complex terrain such as mountains, deserts, and Gobi.

The complex and diverse terrain of Turfan, including high mountains, deserts and Gobi, has brought arduous challenges to the inspection of transmission lines. However, through the application of drone technology, the State Grid Turfan Power Supply Company has not only overcome these difficulties, but also achieved remarkable results in the operation and inspection of transmission lines. At the same time, with the intelligent upgrading and digital transformation of power grid equipment and management, UAV technology is widely used in maintenance and hanging, live monitoring, power grid construction and other fields, and the intelligent level of transmission line operation and inspection has been continuously improved. Up to now, the company’s drone inspection has covered 215 transmission lines of 35 thousand volts and above, with a total mileage of more than 50,000 kilometers, which is equivalent to the length of a week around the Earth’s equator.

In the next step, the State Grid Turfan Power Supply Company will continue to expand the application scenarios of UAVs, actively introduce new technologies and equipment, and accelerate the transformation of intelligent operation and inspection mode. The company plans to continuously improve the level of equipment operation and inspection, consolidate the foundation of equipment safety, and ensure the safe and stable operation of the power grid by further optimizing the drone inspection process and improving the data analysis and processing capabilities.

 

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SOURCE State Grid Turfan Power Supply Company

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MiniTool’s Biggest Discount of the Year During Black Friday and Cyber Monday

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VANCOUVER, BC, Nov. 25, 2024 /PRNewswire/ — MiniTool, a committed software development firm, offers MiniTool Partition Wizard, MiniTool Power Data Recovery, MiniTool ShadowMaker, MiniTool MovieMaker, MiniTool Video Converter, and other products in the 2024 Black Friday and Cyber Monday promotions. From November 25 to December 6, 2024, customers can visit the MiniTool promotion page to purchase products and enjoy big discounts.

Promotions and Activities

Entrance 1: Discounts for MiniTool Partition Wizard, MiniTool Power Data Recovery, and MiniTool ShadowMaker (UP TO 65% OFF)Entrance 2: Discounts for MiniTool MovieMaker and MiniTool Video Converter (UP TO 70% OFF)

MiniTool’s promotion is divided into three forms: lucky draw, combination promotion, and single item promotion.

Lucky Draw: Try your luck to get a discount or coupon for your desired single product. Each user has 5 chances per day during Black Friday sales.Combination Promotion: Or you can directly pick up your favorite bundles with a bigger discount!Single Item Promotion: Enjoy exclusive discounts on individual products!

Best Seller: MiniTool Partition Wizard Pro Ultimate + MiniTool ShadowMaker Pro Ultimate
MiniTool Partition Wizard is a top disk manager with comprehensive partition management features that can meet the basic disk and partition management needs of home and business users. It is available in Pro, Pro Platinum, and Pro Ultimate versions. Of these, the Pro Ultimate version is the best choice.

MiniTool ShadowMaker is a professional backup software based on the Windows system. It can safely back up files, folders, systems, disks, and partitions to internal or external hard drives.

MiniTool Partition Wizard Pro Ultimate and MiniTool ShadowMaker Pro Ultimate are originally priced at $199 and $158, respectively. During MiniTool’s Black Friday promotion, customers can buy these two products for ONLY $160.65 (55% OFF).

Double Protection of Data: MiniTool Power Data Recovery Personal Ultimate + MiniTool ShadowMaker Pro Ultimate
MiniTool Power Data Recovery is the best data recovery software for Windows users. It can successfully recover accidentally deleted files as well as files lost due to system crashes or virus attacks. Windows users can use MiniTool Power Data Recovery to recover data from internal storage, as well as external drives (such as HDD, SSD, USB, SD card, etc.).

MiniTool ShadowMaker can set up backup items regularly to properly protect your data and computer. It is the best choice for Windows users to back up files, hard drives, systems, etc.

MiniTool Power Data Recovery Personal Ultimate and MiniTool ShadowMaker Pro Ultimate charge $129 and $158 respectively. Now with a discount of 60% OFF, you ONLY NEED to PAY $114.80 for them.

65% OFF: MiniTool Partition Wizard Pro Platinum + MiniTool Power Data Recovery Personal Annual Subscription + MiniTool ShadowMaker Pro Annual Subscription
MiniTool Partition Wizard Pro Platinum offers all the features of the software, plus one year of free upgrades. It can be used on three devices after purchase. MiniTool Power Data Recovery Personal Annual Subscription offers all the functions of MiniTool data recovery software and a one-year free upgrade. MiniTool ShadowMaker Pro Annual Subscription allows use on two devices, plus one year of free updates.

The original prices of these three products are $129, $89, and $120 respectively. During the Black Friday promotion, you can get them all with ONLY $118.30 (65% OFF).

70% OFF: MiniTool MovieMaker Annual Subscription + MiniTool Video Converter 12-Month Subscription
MiniTool MovieMaker is the best choice for creating and editing videos. It supports adding transitions, special effects, and text to a video. Even beginners can make stunning videos with templates in MiniTool MovieMaker.

MiniTool Video Converter can convert audio and video into more than 1,000 formats. Its batch conversion function makes conversion more efficient. In addition, MiniTool Video Converter allows the recording of partial or full-screen activities without background noise.

The regular price of MiniTool MovieMaker Annual Subscription is $59.99, and the regular price of MiniTool Video Converter 12-Month Subscription is $119.99. During Black Friday, enjoy both of them for a whole year for ONLY $53.99, SAVING 70%!

For more product details, please visit the two promotion pages mentioned above.

About MiniTool® Software Ltd.
MiniTool® Software Ltd. is a software development company based in Canada. It is committed to providing customers with the most useful applications, such as MiniTool Power Data Recovery, MiniTool Partition Wizard, MiniTool ShadowMaker, MiniTool System Booster, MiniTool MovieMaker, and MiniTool Video Converter.

 

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SOURCE MiniTool Software Limited

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