The factory automation sensor market is demonstrating significant growth over the past few years. Factory automation sensors play a vital role in automating various industrial processes, allowing information accumulation associated with the functionality of machines and their performance on the systems. This, as a result, increases the factory automation sensor market share worldwide.
Besides, the market growth attributes to the rising demand for improved productivity and safety for workers and minimized overall production cost drive the market growth. Moreover, increasing usages for sensing technologies to foster factory automation to perform various tasks escalate the market growth, increasing the work efficiency of processes, and reducing manual work & downtime.
Additionally, factory automation allows manufacturers to streamline their factory processes and generate profit. According to Market Research Future (MRFR), the global factory automation sensor market is projected to reach USD 18.13 BN by 2025, growing at 6.6% CAGR during the forecast period (2019 – 2025). Also, massive investment for the development of automation sensors influences the market growth.
MRFR recognizes the Key Players in the Factory Automation Sensor Market as Rockwell Automation (US), Honeywell (US), Texas Instruments (US), Panasonic (Japan), STMicroelectronics (Switzerland), First Sensor (Germany), Siemens AG (Germany), Amphenol Corporation (US), Integrated Device Technology (US), Bosch Sensortec (Germany), ABB Limited (Switzerland), Analog Device Inc. (US), General Electric (US), Vishay Intertechnology, Inc. (US), NXP Semiconductors NV (Netherlands), Infineon Technologies AG (Germany), Taiwan Semiconductor Manufacturing Company Limited (Taiwan), among others.
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Factory Automation Sensor Market – Competitive Analysis
Highly competitive, the factory automation sensor market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and product/ technology launch.
Global Factory Automation Sensor Market – Segmentations
The segmental insight into the factory automation sensor market has been conducted based on application, sensor type, and region. Based on the sensor types, the factory automation sensor market has been segmented into proximity sensors, vibration sensors, temperature sensors, vision sensors, pressure sensors, humidity sensors, and others. The application-based segmentation of the factory automation sensor market has been segmented into automotive, oil & gas, automotive, manufacturing, chemicals, energy & power, aerospace & defense, food & beverages, pharmaceuticals, and others. By region, the factory automation sensor market has been segmented into Asia-Pacific, North America, Europe, and the rest of the regions.
Global Factory Automation Sensor Market – Regional Analysis
The regional investigation of the factory automation sensor market includes regions such as Asia-Pacific, North America, Europe, and the rest of the regions. The North American regional market accounted for the primary market stake in the year 2018. Due to the incidence of a mixture of chief multinational corporations which are in service in the market such as Honeywell International Inc., Rockwell Automation, and Amphenol Corporation, which manufacture different sensors for the factory automation in the region, is promoting the global market. In the North American region, there is a deficiency of labor, which contributes to an improved need for automated operations, thus cutting the requirement of the labor, thus motivating the factory automation sensor market.
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