Factory Automation Sensor Market
Factory Automation Sensor Market
Global Factory Automation Sensor Market is expected to register a CAGR of 6.6% during the forecast period of 2019–2025. There are various factors contributing to the growth of the global factory automation sensor market such as rising demand for automation for qualitative and reliable manufacturing in different industries including food & beverages, oil & gas, and pharmaceuticals are driving the growth of the global factory automation sensors market.
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Segmentation
According to Market Research Future, the global factory automation sensor market has been segmented based on type, sensor type, applications, and region.
The factory automation sensors are used to gather information associated with the overall performance of the systems within the factory premises. These sensors allow the operators to make suitable changes within the machine or systems before their breakdown point, thereby reducing downtime. Moreover, these sensors are used to reduce manual work, which minimizes the overall cost of the process and increases the profitability among the factories.
In January 2019, Rockwell Automation launched Allen-Bradley 42AF RightSight M30 photoelectric sensor. These sensors are being developed with IO-Link capability, which are being implemented in enterprises by delivering the data directly into the control systems.
The global factory automation sensor market has been segmented based on sensor type, application, and region.
Based on sensor type, the market has been segmented into temperature sensors, proximity sensors, vibration sensors, pressure sensors, humidity sensors, vision sensors, and others. The temperature sensor accounted to have the largest market share in the sensor type segment as these sensors allow the operator to measure the temperature of various machines and systems so as to maintain the functionality of the machines within the facility. The temperature sensors alert the operator when there is a change in the temperature according to the standards, which results in reduced downtime and improved machine conditions. However, the proximity sensor is expected to be the fastest-growing segment during the forecast period due to its application in measuring the distance between the object and sensor without any direct contact. Additionally, these sensors are used in chemical processing, food and beverage, oil & gas, pharmaceuticals, and other industries
Based on applications, the global factory automation sensor market has been segmented into manufacturing, oil & gas, chemicals, pharmaceuticals, energy & power, automotive, food & beverages, aerospace and defense, and others. The manufacturing industry held the largest market share in the application segment in 2018 and is expected to register a significant CAGR during the forecast period. The increasing automation in factories has increased the usage of various sensors to gather accurate information associated with the production and other facilities within the factory premise.
Regional Analysis
The Global Factory Automation Sensor Market is estimated to grow at a significant rate in the future. The geographical analysis of the factory automation sensor market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
North America accounted for the largest share in 2018 for the global factory automation sensor market. North America is one of the developed regions which has large-scale industries that are adopting advanced sensor technologies in their premises to perform several tasks. Moreover, the presence of various key players such as Honeywell, Texas Instruments, and Rockwell Automationalso contributes to the growth of the market by developing new sensor technologies for enhancing the productivity of the facilities and reducing manual work.Europe accounts for the second-largest market share in the factory automation sensor market due to the presence of companies such as Siemens AG, Bosch, and ABB Limited. These companies offer various solutions across industries, including energy & power, automotive, and aerospace and defense, to enhance their operations and increase productivity with the help of automation. Germany accounts for the largest market share in the region due to the presence of various automotive, electronics, and pharmaceutical industries present in the country. Moreover, the demand for smart factories and the adoption of IoT systems in the country is driving the market.
Asia-Pacific is expected to be the fastest-growing regional market during the forecast period ; rising urbanization, technological advancements, and increasing demand for smart factories are some of the major factors which are driving the factory automation sensors market in the region. Additionally, the growing number of manufacturing facilities in the region is also fueling the growth of the market. China accounts for the largest market share in the region for the factory automation sensor market due to increasing investments by the private and government sectors for the development of smart manufacturing facilities in the country.
The rest of the world is expected to register a significant CAGR during the forecast period due to increasing investments made by the government and companies for the development of advanced technology in the region. Further, the region has been segmented into South America and the Middle East & Africa.
Key Players
The prominent players in the factory automation sensor market are 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 N.V. (Netherlands), Infineon Technologies AG (Germany), and Taiwan Semiconductor Manufacturing Company Limited (Taiwan), among others.
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