Industrial Smart Sensors Market Size to Grow by $ 8.05 bn through 2021-2025
The industrial smart sensors market is expected to grow by $ 8.05 bn, accelerating at a CAGR of almost 9% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. View Free Sample Report
Industrial Smart Sensors Market: Segmentation by End-user
This report provides a detailed analysis of the market by End-user (Process industries and Discrete industries) and Geography (APAC, North America, Europe, MEA, and South America). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges which are likely to influence market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.
Industrial Smart Sensors Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Eaton Corporation Plc, Honeywell International Inc., Infineon Technologies AG, NXP Semiconductors NV, Robert Bosch GmbH, Rockwell Automation Inc., SICK AG, STMicroelectronics NV, TDK Corp., and Texas Instruments Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Technavio has been monitoring the Global Industrial Smart Sensors Market and it is expected to grow by USD 8.05 billion progressing at a CAGR of over 9% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report
APAC region to dominate market growth prospects
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. APAC will offer several growth opportunities to market vendors during the forecast period. 45% of the market growth will originate from APAC during the forecast period. China, Japan, and South Korea (Republic of Korea) are the key markets for industrial smart sensors in APAC. This report provides an accurate prediction of the contribution of all segments to the growth of the industrial smart sensors market size.
Growing trend of adopting wearable technology to gain traction
Factors such as growing demand for wearable technology, the emergence of industry 4.0, and growing concern toward monitoring and surveillance will offer immense growth opportunities. However, price surges due to the use of fiber optics with industrial smart sensors, technological challenges, and compliance to different regulations may impede market growth. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment.
Industrial Smart Sensors Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Eaton Corporation Plc, Honeywell International Inc., Infineon Technologies AG, NXP Semiconductors NV, Robert Bosch GmbH, Rockwell Automation Inc., SICK AG, STMicroelectronics NV, TDK Corp., and Texas Instruments Inc.are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report
Industrial Smart Sensors Market: Key Highlights of the Report for 2021-2025
