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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.

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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.

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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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Huawei Cloud in France: Building an AI-Native Cloud to Amplify Intelligence on the Tech Stage

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PARIS, Nov. 14, 2024 /PRNewswire/ — HUAWEI CONNECT 2024 PARIS commenced today, featuring the first Huawei Cloud Summit France. Huawei Cloud is building an AI-native cloud through systematic innovation and service reshaping. Moving forward, Huawei Cloud will continue to drive innovation in both the “AI for Cloud” and “Cloud for AI” directions, accelerating the intelligent transformation across industries in France.

Jacqueline Shi, President of Huawei Cloud Global Marketing and Sales Service, delivered a welcome speech in her digital presence built using Huawei Cloud MetaStudio. She stated, “Innovation is the heart of our success, our competitiveness, and our growth. That’s why we invest heavily in R&D to bring you the most secure and reliable cloud services possible, including cloud native, AI, and big data. In Europe, Huawei Cloud has collaborated with over 500 local partners to deliver a wide range of industry-specific solutions and proven expertise, enabling European businesses to expedite their cloud adoption, leverage global resources, and achieve leapfrog growth.”

In his keynote speech, William Dong, President of Huawei Cloud Marketing, highlighted the importance of AI in building economic moats. To this end, Huawei Cloud launches Pangu models to enable intelligent upgrades across industries, with over 400 use cases in 30 industries now benefiting from Huawei Cloud’s AI-native cloud infrastructure that extends cutting-edge technologies and premium experiences to European customers. On the tech stage, Huawei Cloud is set to amplify intelligence.

Huawei Cloud’s AI-native strategy has been a cornerstone of the company’s innovation. This strategy is twofold: AI for Cloud and Cloud for AI, marking significant advancements in Huawei Cloud’s capabilities. “AI for Cloud” means integrating Pangu models with cloud services for product R&D, data governance, security, and O&M to make them more intelligent and efficient.

With full-stack systemic innovations, “Cloud for AI” covers data centers, cloud platform architectures, and infrastructure services, enabling efficient and high-performance data preparation, training, inference, and application of foundation models. The distributed cloud database GaussDB features high performance, high intelligence, and easy migration. Huawei Cloud Stack 8.5 provides more than 120 locally deployed cloud services and 50 industry-specific solutions, building the optimal hybrid cloud for intelligent transformation.

At this summit, Huawei Cloud officially released the Flexus cloud services for small- and medium-sized enterprises (SMEs) in France. Flexus feature flexible specifications, AI-driven high speed, 6x burst speed, compute hot upgrade, and ultimate experience.

Presently, Huawei Cloud has more than 500 customers, partners, and developers in France. Song Wanying, President of Huawei Cloud France, shared insights on fostering business growth through cloud innovation and introduced new media & entertainment, e-commerce, and retail solutions for the French market, furthering intelligent initiatives.

Huawei Cloud has upgraded media services in a 3E approach: efficiency, experience, and evolution. For instance, AIGC for virtual humans can significantly reduce the time required for short video production from days to mere minutes. In terms of experience, Huawei Cloud leverages its self-developed RTP protocol to minimize latency to 500 ms and reduce frame freezing to 10%. For business model evolution, Huawei Cloud offers virtual human technology to facilitate efficient video production, leading to new business opportunities and growth.

In retail and e-commerce, Huawei Cloud has developed the B.R.A.N.D. model to assist retailers in driving innovation and growth. Through professional services, deterministic operations, security, reliability, and 16 sub-scenario solutions, B.R.A.N.D. enables retailers to build agile, efficient, and secure business systems.

In terms of ecosystem expansion, Huawei Cloud has partnered with Station F, the world’s largest startup incubator, to launch a sustainability-themed incubation program. This program aims to provide comprehensive support for startups, including cloud resources, investment opportunities, and dedicated office spaces. Additionally, Huawei Cloud and 20 ecosystem partners have unveiled the Industry Partner Innovation Program at the summit.

This two-day event features a packed agenda, including the partner forum and the Cloud Native Elite Club (CNEC) roundtable. At this year’s HUAWEI CONNECT Europe, CNEC returned to Europe and invited its first members to join this technical community built for European technology pioneers.

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ALBERT GAHFI, NEWCO CAPITAL GROUP CEO, NOMINATED FOR THE U.S. FINTECH AWARDS’ INNOVATOR OF THE YEAR

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NEW YORK, Nov. 14, 2024 /PRNewswire/ — NewCo Capital Group is proud to announce that Albert Gahfi, CEO of NewCo Capital Group and Co-Founder and Director of Bizcap, has been nominated for the prestigious Innovator of the Year Award by the U.S. FinTech Awards. This recognition highlights Albert’s groundbreaking contributions to the FinTech sector and his dedication to founding companies that empower small businesses with forward-thinking capital solutions.

We are focused on what’s next—continuing to build the tools and services that will drive the future of FinTech

As a proven enterprise-building founder and CEO, Albert co-founded Kings Cash Group and oversaw its merger with a large FinTech consortium that included an SEC-registered fund. As the Co-Founder and CEO of NewCo Capital Group, Capytal.com, and NewCo Canada, as well as the co-founder of Melbourne-based BizCap, Albert’s global expansion strategy has led to the opening of offices in New Zealand, the United Kingdom, and a recently announced strategic initiative in Asia via Singapore.

The nomination for Innovator of the Year underscores NewCo’s commitment to reshaping how small-to-medium businesses and enterprise companies access financing. Since its founding, NewCo has remained at the forefront of Specialty Finance within the FinTech sector, continually creating custom capital solutions that leverage advanced technology, nuanced underwriting, and a deep understanding of client needs.

Bruce Gurvitsch, Chief Revenue Officer for NewCo Capital Group and Capytal.com, commended the nomination, stating, “Albert’s nomination for Innovator of the Year reflects his unwavering pursuit of excellence—a drive that defines our mission at NewCo. We’re committed to pushing the boundaries of what’s possible in FinTech, ensuring that SMBs have access to the capital they need for growth, job creation, and long-term success.”

NewCo and its affiliate companies have transformed traditional financing models, making it easier, faster, and more efficient for businesses to secure funding. With over $1.8 billion deployed across 40,000+ businesses globally, NewCo continues to lead the charge in specialized financing and working capital.

Reflecting on the nomination, Gahfi remarked, ‘This recognition from the U.S. FinTech Awards validates our efforts and inspires us to continue delivering the most innovative solutions to the market.’ He emphasized NewCo’s long-term vision, adding, ‘We are focused on what’s next—continuing to build the tools and services that will drive the future of FinTech. Our mission has always been to empower small businesses globally.’

For more information about NewCo Capital Group, visit www.NewCoCapitalGroup.com or email Info@NewCoCapitalGroup.com.

About NewCo Capital Group & Capytal.com

Founded in 2020, NewCo Capital Group and its affiliate companies empower SMBs globally with fast, accessible financing and funding. The companies have successfully deployed $1.8 billion to over 40,000 SMBs while maintaining a 4.9/5 Trustpilot rating.

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SOURCE NewCo Capital Group

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Enrollsy Unveils Brand Refresh and New Website to Enhance Enrollment Experience for Schools, Camps, Nonprofits, and More

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LEHI, Utah, Nov. 14, 2024 /PRNewswire/ — Enrollsy, the platform dedicated to making enrollment simple and accessible for organizations of all sizes, is thrilled to announce its brand refresh and launch of a new website at www.enrollsy.com. With a renewed focus on simplifying enrollment processes and delivering unparalleled support, Enrollsy’s brand refresh reinforces its commitment to empowering non-technical professionals with a seamless, user-friendly experience.

Enrollsy is online enrollment software made easy.

The name “Enrollsy” reflects the platform’s mission: combining “enroll” and “easy” to describe a solution that effortlessly manages the enrollment process—from sign-up to payments and communications—without requiring technical expertise or IT support. Enrollsy’s customizable platform is designed to solve enrollment challenges and make life easier for administrators everywhere.

Empowering Purpose, Mission, Vision, and Values

Driven by a purpose to create an exceptional experience from the first interaction to ongoing support, Enrollsy ensures every aspect of its service is tailored to customer needs. Enrollsy’s mission—to provide an amazing enrollment experience to 10 million people in a single year—drives the platform to innovate, simplify, and perfect enrollment solutions for organizations managing data, payments, and communications.

Enrollsy envisions a world where education, enrichment, and connection drive better outcomes, helping organizations fulfill their missions. As a trusted partner, Enrollsy shares its values with customers by prioritizing consistency, honoring commitments, and maintaining clear, actionable communication.

Unmatched Customer Experiences

Enrollsy’s brand refresh also highlights its commitment to delivering value through real-life customer success stories. Elizabeth Fizer, owner of Fizer Fine Art, shares, “Enrollsy transformed our registration process from an absolute nightmare to easily manageable. Their unmatched customer service and ability to tailor the software to meet our specific needs allowed us to offer flexible schedules and simplified invoicing—enabling me to focus on my family during a busy registration period. Parents found it easy and intuitive, which only enhanced our customer experience.”

Similarly, Matthew Vinson from Common Ground on the Hill, a nonprofit, noted, “Enrollsy exceeded our expectations by listening to our unique needs and creating a system that integrates with our existing applications seamlessly. They understood our operations and provided features we needed, making the registration process efficient and stress-free.”

Visit the New Enrollsy Website

Enrollsy’s reimagined website offers a refreshed look at how the platform simplifies enrollment, billing, and communication for education, enrichment, and nonprofit organizations across the U.S., Australia, and Canada. Visitors are invited to explore www.enrollsy.com to discover how Enrollsy’s solutions are transforming the enrollment experience and simplifying administrative processes.

About Enrollsy Enrollsy provides a complete, easy-to-use solution for managing enrollments, payments, and participant communications. Designed for non-technical professionals, Enrollsy’s mission is to simplify enrollment for organizations while delivering unmatched support and flexibility. Visit www.enrollsy.com to learn more about how Enrollsy is shaping the future of enrollment.

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SOURCE Enrollsy, Inc.

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