December 9, 2023

IoT Empowers Industrial Sensors Market: A Promising Forecast

The industrial landscape is on the brink of transformation as the integration of Internet of Things (IoT) technology with industrial sensors paves the way for a new era of smart manufacturing. The ubiquity of industrial sensors, long before the IoT era, has created a fertile ground for technological advancements in this sector, leading to the emergence of smart sensors that offer enhanced functionality and versatility in industrial applications.

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The manufacturing industry, in particular, is experiencing a digital revolution, often referred to as Industry 4.0, and smart sensors are playing a pivotal role in this transformation. These sensors, when integrated with IoT, are in high demand across processing and manufacturing plants. Their adoption is driven by a multitude of benefits, including operational efficiency optimization, remote monitoring capabilities, and improved safety for both industrial assets and workers.

One of the key advantages of IoT-based industrial sensors is their ability to detect faults early, leading to reduced maintenance and upkeep costs. Furthermore, government initiatives, such as the Manufacturing Made Smarter Programme in the UK, are injecting substantial funds to modernize manufacturing facilities, further accelerating the adoption of smart sensors and contributing to the growth of the industrial sensors market.

Pressure Sensors: Powering Growth in the Industrial Sensors Market

Pressure sensors are expected to be a major driver of growth in the industrial sensors market in the coming years. The demand for pressure sensors is surging, especially in industries like food and beverage. In these sectors, the need for vacuum-sealed and airtight packaging to preserve food quality and ensure product safety is paramount. Pressure industrial sensors are the key to achieving optimal vacuum pressure for various food and beverage products, regardless of atmospheric conditions.

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Additionally, pressure industrial sensors facilitate the monitoring of pressure and vacuum, enabling predictive maintenance and reducing unplanned downtime. Leading players in the industrial sensors market are investing in advanced technologies to upgrade pressure sensors. For example, Superior Sensor Technology introduced the ND Series in 2021, a differential pressure industrial sensor portfolio that offers superior accuracy and precision across seven pressure ranges. These sensors find applications in areas such as leak testing, pneumatic system monitoring, water quality testing, automated safety, and chemical monitoring, further fueling the demand for pressure sensors and bolstering the industrial sensors market’s growth.

Asia Pacific: A Thriving Hub for Industrial Sensors

The Asia Pacific region is poised to dominate the industrial sensors market, driven by rapid industrialization and technological advancements. Increasing coal production in emerging economies like India, China, Australia, and Indonesia is a significant catalyst for growth in this region. Government investments in new mining projects, such as Coal India Pvt. Ltd’s $6.47 billion investment in 32 coal mining initiatives, present lucrative opportunities for industrial sensor adoption. Similarly, the Chinese government’s approval of two new coal mining projects with a $566 million investment highlights the region’s potential for high-tech mining equipment and, consequently, industrial sensors.

Competition Drives Innovation

Key players in the industrial sensors market are continuously innovating to develop diverse products that cater to various industries. In 2021, Viezo launched the beta version of their autonomous wireless series of sensors, Sonora, designed for applications in train manufacturing, railway operations, and other industrial sectors. Similarly, Petasense introduced 3-in-1 industrial sensors featuring temperature, speed, and vibration control, demonstrating the industry’s commitment to delivering cutting-edge solutions.

Prominent players in the industrial sensors market include Rockwell Automation Inc., Honeywell International Inc., STMicroelectronics Inc., Omron Corporation, and Texas Instruments Inc.

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As the manufacturing industry embraces IoT and smart sensors, the industrial sensors market is poised for significant growth, offering innovative solutions that drive efficiency, safety, and productivity across various sectors.

Global Industry Analysis (2018 – 2021) – Growth Trends and Market Forecast (2022 – 2029)

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This press release first seen on Brilad