Factory Automation Sensor Market Size
The rise in disruptions to the production processes is estimated to define the factory automation sensor market 2020. The SEM industry reports are produced by Market Research Future, which highlights market options for development. An earning of USD 18.13 Billion by 2025 is likely to be gained with a CAGR of 6.6 % in the coming period.
The necessity to ensure the functionality of the machines is anticipated to bolster the factory automation sensor market size. The upsurge in automation in factories is estimated to further enhance the factory automation sensor market in the coming period.
Segmental Analysis
The segmental insight into the factory automation sensor market has been conducted based on application, sensor type, and region. Based on the sensor types, the factory automation sensor market has been segmented into proximity sensors, vibration sensors, temperature sensors, vision sensors, pressure sensors, humidity sensors, and others. The application-based segmentation of the factory automation sensor market has been segmented into automotive, oil & gas, automotive, manufacturing, chemicals, energy & power, aerospace & defense, food & beverages, pharmaceuticals, and others. By region, the factory automation sensor market has been segmented into Asia-Pacific, North America, Europe, and the rest of the regions.
Detailed Regional Analysis
The regional investigation of the factory automation sensor market includes regions such as Asia-Pacific, North America, Europe, and the rest of the regions. The North American regional market accounted for the primary market stake in the year 2018. Due to the incidence of a mixture of chief multinational corporations which are in service in the market such as Honeywell International Inc., Rockwell Automation, and Amphenol Corporation, which manufacture different sensors for the factory automation in the region, is promoting the global market. In the North American region, there is a deficiency of labor, which contributes to an improved need for automated operations, thus cutting the requirement of the labor, thus motivating the factory automation sensor market.
Competitive Analysis
The investment in robotic elements in the supply chain is estimated to be seen in the future to reduce the impact of the human capital on the long term market expansion. The state of the market is extremely indecisive due to the effect of the macro factors operating in the global economy. The road to the resurgence of the market is estimated to be lengthy and arduous due to the degree of setbacks it has suffered. The prospects for growth in the market have to be carefully sought out and examined to ensure that they will ensure the favorable development of the market in the coming period. The competitors present in the market are recalibrating their market share to open up new areas of development in the market. The stress on enhancing the production potential and upgradation of the workforce are the top priorities to reinvigorate the development potential of the market in the coming period. The establishment of robust distribution channels is estimated to define the development of the market in the future.
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Factory Automation Sensor MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Factory Automation Sensor Market.
The growth sectors of the Factory Automation Sensor Market are identified with precision for a better growth perspective.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.
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.
Factory Automation Sensor MarketAdd image credit, source, and captionGlobal 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.Regional AnalysisThe 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.
Market Synopsis:The global factory automation market is anticipated to surpass a valuation of USD 240 billion, attaining 8.59% of CAGR during the forecast period (2016-2022), Market Research Future (MRFR) unveils in a detailed report.The global factory automation market has witnessed a tectonic surge over the past few years.
By minimizing production cost and manufacturing time, automation has transformed the way of production in the industrial sector.
Despite improvements made in assembly technologies, like smarter reflow ovens and faster pick-and-place machines, back-end operations were non-automated.
The demand for factory automation is also high due to the surging adoption of IoT enabled smart technologies and Industry 4.0 trend.On the contrary, the dearth of professionals, high investment, and inadequate awareness about security are some of the major concerns likely to restrict the growth of the market across the globe.Key PlayersThe prominent players in the Factory Automation Market are - Siemens AG, ABB Ltd, Emerson Electric Corporation, Rockwell Automation, Honeywell International Inc., Schneider Electric, Rexroth Bosch Group, Mitsubishi Electric Corporation, Yokogawa Electric Corporation, and Omron Corporation.Market Segmentation:The global factory automation market is segmented on the basis of type, technology, and end user industry.By type, the factory automation market is segmented into programmable automation, fixed automation, integrated automation, and flexible automation.
Of these, the manufacturing sector is expected to dominate and reach a valuation of USD 50 billion by the end of 2022.Regional Analysis of Factory Automation Market:Geographically, the global factory automation market spans across North America, Asia Pacific, Europe, and Rest of the World (RoW).Considering the global scenario, Asia Pacific is considered to expand at the fastest rate and is predicted to exhibit a high growth rate.
Government initiatives to increase domestic production and manufacturing and surging adoption of technology in the region is likely to augment the market growth in the region.
