Industrial Sensors Market Size & Forecasting to 2028
The global industrial sensors market size was valued at USD 21.1 billion in 2019 and is anticipated to grow at a CAGR of 6.8% during the forecast period. Industrial sensors are widely used in industrial application and automation.
It plays a major role in the manufacturing sector owing an increase in the automation in every industrial sector as manufacturing, oil & gas, energy & power, and others. Based on the region, the global industrial sensors market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. In terms of revenue, North America holds a dominant position in the global industrial sensors market.
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Key Factors Impacting the Growth of Industrial Sensors Market:
• Technological advancements
• Increasing market demand for IoT sensors
• Growth in wearable devices across the application areas of industrial sensors such as
manufacturing, oil & gas, and others
• Increase in competition in the market
What Does This Report Provide?
This report provides a detailed understanding of the global industrial sensors market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.