The global Industrial Sensors Market Growth Accelerated by Enhanced Adoption of IoT Applications

-

Industrial sensors play an important role in factory automation by monitoring and controlling industrial processes. Sensors are devices that help detect and respond to electrical or optical signals and transmit the resulting information to a monitoring system or operating controller. Some key applications of industrial sensors include temperature monitoring, pressure detection, proximity sensing, and level measurement.

The global Industrial Sensors Market is estimated to be valued at US$ 25.16 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The adoption of industrial Internet of Things (IoT) applications has witnessed a significant surge over the past few years. IoT technology helps connect industrial devices and machines to networks and provides real-time insights about manufacturing processes using sensors. This allows remote monitoring of equipment performance and predictive maintenance of machines. IoT also enables data collection from multiple sensors across processes and equipment, which helps optimize operations and reduce downtime. With the continued rise in digitization across industries, the demand for industrial sensors integrated with IoT platforms is expected to increase substantially during the forecast period. This will be a major factor driving the growth of the global industrial sensors market.

Segment Analysis
The global industrial sensors market size is dominated by the contact image sensors subsegment due to high demand. Contact image sensors are used widely in applications such as healthcare management systems, robotics, and automated guided vehicles where close monitoring, precision, and accuracy are required. These sensors help verify the presence or absence of objects and monitor processes with high resolution for quality control purposes.

Key Takeaways
The global industrial sensors market is expected to witness high growth. The global Industrial Sensors Market is estimated to be valued at US$ 25.16 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031.

The Asia Pacific region is expected to grow the fastest owing to rapid industrialization initiatives and increasing investments in industries such as automotive, healthcare, and manufacturing. China dominates the Asia Pacific industrial sensors market and accounts for over 30% of regional market share due to the large manufacturing sector.

Key players operating in the industrial sensors market are ClaroNav, Stryker, Brainlab AG, Parsis, Northern Digital Inc., Heal Force, Medtronic, Synaptive Medical, Bramsys Indústria e Comércio Ltd. These companies are focusing on new product launches and collaborations to gain market share. For instance, in 2022, Northern Digital inked a partnership with AiCure to integrate AiCure's artificial intelligence platform with Northern Digital's surgical navigation and robotics technologies to improve cancer treatment outcomes.

Comments

Post a Comment

Popular posts from this blog

The global Calcium Citrate Malate Market Growth Accelerated by Expanding Applications

-
Image
Calcium citrate malate is an essential mineral compound that provides calcium and supports bone health. Calcium citrate malate supplements help maintain healthy bones and teeth as we age. They support calcium absorption and distribution throughout the body. The global Calcium Citrate Malate Market is estimated to be valued at US$ 334.08 Mn in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The expanding applications of calcium citrate malate are expected to drive the market growth over the forecast period. Calcium citrate malate supplements are increasingly being used to prevent and treat osteoporosis. They are especially recommended for people who cannot digest lactose or avoid dairy products. The compound is also finding wider use in functional foods and beverages with added calcium and minerals. Manufacturers are developing various product formats like...
Read more

Labor Productivity Tracking Market Growth Accelerated by Remote Work and Digitalization Trend

-
Image
Labor productivity tracking solutions help businesses and organizations track employee productivity in real-time. These solutions offer features like time tracking, activity monitoring, goal setting, resource allocation, attendance logging, and analytics. They help enhance productivity by identifying opportunities for improvement, streamlining workflows, and ensuring employees are focused on tasks that add value. The global Labor Productivity Tracking Market is estimated to be valued at US$ 6.81 Billion in 2024 and is expected to exhibit a CAGR of 38% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The rapid adoption of remote work and digitalization trend across industries during the pandemic has been a major driver accelerating growth of the labor productivity tracking market. Many organizations have now accepted work from home and hybrid work models. Labor productivity tracking solutions help employers...
Read more

Myopia and Presbyopia Eye Drops Market Growth Accelerated by Increase In Myopia And Presbyopia Cases

-
Image
Myopia and Presbyopia eye drops are used for temporary relief from blurred vision caused by refractive errors such as nearsightedness and farsightedness. Myopia and presbyopia eye drops contain saline or other solutions which helps in moisturizing the eyes and providing temporary relief from vision issues. Increase in usage of digital devices and lack of outdoor activities have accelerated the cases of myopia and presbyopia worldwide. The global Myopia And Presbyopia Eye Drops Market is estimated to be valued at US$ 1.8 billion in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023-2033, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing prevalence of myopia and presbyopia cases globally is the major key trend fueling the growth of the market. According to a study by The International Myopia Institute, it is estimated that around 50% of the world's population will suffer from myopia by the year 2050. T...
Read more