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The industrial sensor market is set to grow at a 10.3% CAGR over the forecast period (2013-2018). It is primarily driven by increasing demand of automotive safety systems. Government initiatives pertaining to safety will benefit the market growth in the years ahead. Wireless sensing networks which monitor the sensors displaced around the plant will be an ideal technology for companies. These sensors will collect and organize data about the plant equipment in a centralized location.The global market is segmented on the basis of products, applications, and regions. Products encompass force/pressure, position/velocity, vibration/acceleration, and proximity sensors. Proximity sensors consist of inductive/capacitive, optical, and mechanical sensors. Tachogenerators, encoders, potentiometers, and LVDT are different types of position/velocity sensors. Proximity sensors are widely used in machine tools and conveyor lines.
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Applications comprise of power & energy, building & construction industry, information technology & communication industry, food & beverages manufacturing, automotive manufacturing, aircraft & ship manufacturing, metals manufacturing, cement manufacturing, paper & pulp manufacturing, and mining. Manufacturing sector dominates the market with more than 60% shares. Aspects of reliability, transmission & distribution, and security in power generation will drive the demand for industrial sensors in the years ahead.
Regions include Europe, Asia Pacific (APAC), Americas, and RoW (Rest of the World). APAC will gain major shares of the market by the end of the forecast period. Recent regulations made mandatory by developing countries for passenger and commercial vehicles can be attributed for the sudden upsurge in the region.
Prominent players in the industrial sensor market are Texas Instruments Incorporated, ST Microelectronics N.V., Robert Bosch GmbH, and Infineon Technologies AG. Companies are looking for alternative ways for growth other than selling their products. Other ways include providing sensors which can store data on cloud and function through Wi-Fi. Bosch is collaborating with seven European companies to develop low-cost sensors which can work with Internet of Things (IoT).
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