Projections from a report published by GMI, Inc., suggests that the industrial sensors market is expected to surpass USD 30 billion by 2027. Large-scale adoption of industrial robots across manufacturing & processing industries is expected to a offer a considerable push to the industrial sensor market outlook. According to the International Federation of Robotics, around 2 million industrial robots are expected to be utilized across factories worldwide by 2022. Robotic Process Automation (RPA) technology in the manufacturing sector as well as automation equipment such as HMI (human machine interface) and PLC (programmable logic controllers) in assembly and production lines heavily rely on industrial sensors.

The demand for such automation equipment may accelerate supported by favorable government initiatives designed to advocate the acceptance of industrial automation in the food & beverage sector. In March 2021, the Government of Australia announced an investment of USD 993 million to support the region’s F&B manufacturers under its MMI (Modern Manufacturing Initiative) scheme.

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Although, it is vital to note that shortage of raw materials & components due to imposed COVID-19 restrictions have severely impacted the industrial sensors market growth in mid-2020. Shift of existing manufacturing facilities to new regions due to political and business obstacles might hinder market growth during the pandemic. 

Here are some of the trends to look for in the industrial sensors market until 2027:

Force sensors witnessing high demand

Industrial IoT is steadily extending its reach across the pharmaceutical, food & beverage, chemical, and oil & gas sector. As a vital component in industrial IoT, industrial sensors are used to detect, measure, and analyze parameters such as level, temperature, pressure, force, and position, among others. Reports indicate that the force sensor segment held a market share of around 8% in 2020.

Force sensors are used to measure various physical parameters such as torque, mass, and weight of an object in the industrial sector. These sensors are commonly used in counting scales, hopper scales, bench scales, platform scales, truck scales, and belt scales. Force sensors have high capabilities to monitor the load and prevent industrial machinery from overloading and find application in force exertion control and industrial test benches in industrial robotics. 

Demand across Europe pharmaceutical sector

Europe is home to some of the world’s leading pharmaceutical manufacturers such as AstraZeneca, Novo Nordisk, and Pfizer, Inc., among others. These companies are currently emphasizing on the mass production of vaccines and novel drugs. Certain equipment used in the medical industry are integrated with force sensors for fluid monitoring applications, endoscopic surgery, dialysis machines, physical therapy equipment, orthopaedics and MRI devices.

Pharmaceutical companies in the region are extensively focusing on new research & development activities, increasing the adoption of industrial sensors. High-volume manufacturing and large-scale investments in the pharmaceutical sector will devise new opportunities for industrial sensor manufacturers in Europe. As per estimates, the industrial sensors of Europe is anticipated to register 7% CAGR from 2021 to 2027.

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Use of gas sensors in mining application

The demand for industrial sensors market such as gas sensors is escalating in mining & exploration activities. Generally, industrial gas sensors are used under mining conditions to monitor safety parameters to safeguard miners from toxic & flammable gases. Linking sensors with IoT systems will help mining companies to extract real-time & exact data about the temperature, pressure, and gases in the mines. The mining application segment held a 7% market share in 2020 and is projected to grow at 8% CAGR by 2027.

Table of Contents (ToC) of the report:

Chapter 1   Methodology and Scope

1.1    Scope & definition

1.2    Methodology & forecast parameters

1.3    Data Sources

1.3.1    Secondary

1.3.2    Primary

Chapter 2   Executive Summary

2.1    Industrial sensors market 360⁰ synopsis, 2016 - 2027

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Product trends

2.1.4    Application trends

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