New York, July 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Machine Sensor Market Size, Share & Industry Trends Analysis Report By Type, By Industry, By Regional Outlook and Forecast, 2023 - 2030" - https://www.reportlinker.com/p06481394/?utm_source=GNW
Globally, the idea of the "smart city" is gaining more and more traction. According to the government of the United Kingdom’s Smart City Pitchbook, approximately 7 billion people will live in cities by the year 2050, creating a sizable market for smart city goods and services. The world’s population is projected to reach 9.7 billion by then. By 2020, the Smart Cities market is expected to be worth more than GBP 900 billion, equal to the GDP of the world’s twelfth-largest country. Furthermore, it is predicted that by 2030, the top 750 Smart Cities will produce two-thirds of the global GDP.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In April, 2020, TE Connectivity announced the launch of an 8911 wireless accelerometer, a compressed, LoRaWAN™ wireless accelerometer with edge computing for condition monitoring. The launched product combines a data collector, digital signal processor, sensor, and radio into a single battery-operated device that measures both temperature and vibration data. Additionally, In February, 2023, Kyocera Corporation introduced a “contactless intelligent millimeter-wave sensing system”. The system consists of a high-precision, low-noise sensor which would be able to detect minute vibrations (measured in microns) without any physical contact, and multiple software modules for completely AI-based solutions for multiple applications.
Based on the Analysis presented in the KBV Cardinal matrix; Honeywell International, Inc. and Omron Corporation are the forerunners in the market. In August, 2022, OMRON introduced OMRON TM16 with a payload of 16 kg. The launched product would enable customers to broaden their material-handling possibilities and handle heavier materials and parts. Companies such as Kyocera Corporation, Sensata Technologies Holdings PLC, Infineon Technologies AG and TE Connectivity Ltd. are some of the key innovators in the market.
Market Growth Factors
Industrial Internet of Things (IIoT) and introduction of Industry 4.0 to support the market growth
Industry 4.0 has recently seen tremendous growth in popularity. At the World Summit on the Information Society (WSIS), in June 2017, UNIDO and ITU jointly organized a special session on SDG9 as part of the joint statement. An expert panel on "Preparing for the Fourth Industrial Revolution" was hosted by UNIDO as a part of the special session. The workshop’s primary focus was on handling the issues surrounding the adoption of Industry 4.0 to put in place a cohesive plan that would result in preparation. Thus, the development of the industrial sensors market is anticipated to be boosted by introducing Industry 4.0 and IIoT.
Strict standards for the automotive sector
Government regulations significantly influence the market growth, particularly in the automobile industry. The US has made the installation of tire pressure monitoring systems (TPMS) in all cars required under the Transportation Recall Enhancement, Accountability, and Documentation (TREAD) Act. When the tires are underinflated, TPMS sensors analyze tire air pressure and temperature and inform drivers within 20 minutes. The market is driven by the US government’s requirement that all commercial vehicles have side airbags and passenger airbags equipped with pressure sensors. All of this is expected to ultimately boost the market expansion.
Market Restraining Factors
Pricing concerns
While the shipping of these sensors has expanded due to their broad use in automated intelligent controls, price erosion has considerably curbed sales growth. This is partly due to the intense rivalry between the growing number of pressure sensor producers, which is spurring quick innovation in creating new portable, consumer, and Internet of Things applications. Many businesses are focusing their R&D efforts on developing affordable pressure sensors such as MEMS-based pressure sensors, IO-link compatible sensors, or wireless sensors. As a result, it is predicted that demand for pressure sensors will be limited in the near term, which will impede market expansion.
Type Outlook
Based on type, the market is classified into temperature sensors, position sensors, proximity sensors, force & torque sensors, and pressure sensors. The pressure sensors segment held the highest revenue share in the market in 2022. This dominance is related to pressure sensors’ crucial function in the market, fueled by essential industry trends and the expanding need for dependability and safety across sectors. Due to the rising demand for improved pressure sensors that can provide exact readings even in difficult situations, pressure sensor manufacturers are concentrating on producing solid and reliable sensors to fulfil the expanding needs of different sectors.
Industry Outlook
On the basis of industry, the market is divided into oil & gas, aerospace, automotive, manufacturing, healthcare, and others. The automotive segment covered a considerable revenue share in the market in 2022. Several aspects, including the incorporation of machine sensors and cutting-edge technology in the automobile sector, are responsible for this amazing increase. Safety features like autonomous emergency braking and lane departure warning are made possible by collision detection sensors, which have grown popular and include radar, lidar, and cameras. Real-time data from tire pressure monitoring devices increase safety and fuel economy.
Regional Outlook
Region wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region led the market by generating the largest revenue share in 2022. This dominance may be ascribed to the region’s robust manufacturing sector, including significant market players, such as China, Japan, and South Korea. Machine sensors are widely used in the Asia-Pacific area in various sectors, including automobile, electronics, consumer products, and industrial automation. The region’s vast population and quick urbanization also impact the need for machine sensors in smart cities, transportation, and healthcare sectors.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., Kyocera Corporation, Sensata Technologies Holdings PLC, Omron Corporation, Infineon Technologies AG, TE Connectivity Ltd., ATI Industrial Automation, Inc. (Novanta, Inc.), FUTEK Advanced Sensor Technology, Inc., Baumer Holding AG, and Tekscan, Inc. (Artemis Capital Partners).
Recent Strategies Deployed in Machine Sensor Market
Partnerships, Collaborations and Agreements:
May-2023: Infineon Technologies AG joined hands with Hon Hai Technology Group, a company engaged in offering electronics manufacturing services. Under this collaboration, both companies would focus on the implementation of SiC technology in automotive high-power applications including onboard chargers, DC-DC converters, and traction inverters.
Jan-2023: Infineon Technologies AG came into an agreement with Resonac Corporation. Under this agreement, Resonac would offer Infineon SiC materials for the manufacturing of SiC semiconductors, covering a double-digit share of the estimated demand for the next decade.
Dec-2022: KYOCERA AVX, a subsidiary of Kyocera, came into collaboration with Powercast Corporation, a company engaged in radiofrequency (RF)-based over-the-air wireless power technology. Under this collaboration, Powercast’s over-the-air wireless power technology and KYOCERA AVX’s supercapacitors would be integrated to allow maintenance-free sensor tags and ESLs powered only by RF harvested from RFID readers.
Product Launches and Product Expansions:
Mar-2023: FUTEK announced the launch of LSM305, the flexible and compact load cells in FUTEK’s catalog of high-precision sensors. The product is developed for OEM tension and compression applications, the product has a unique lightweight design that offers it its high accuracy and reliability.
Feb-2023: Kyocera Corporation introduced a “contactless intelligent millimeter-wave sensing system”. The system consists of a high-precision, low-noise sensor which would be able to detect minute vibrations (measured in microns) without any physical contact, and multiple software modules for completely AI-based solutions for multiple applications.
Dec-2022: Sensata Technologies announced the launch of Tire Mounted Sensor, a sensor consisting of TPMS functionality and an accelerometer to identify the force with which the tire is striking the ground. The Tire Mounted Sensor is placed directly to the tire’s inner line, the sensor identifies the model and brand of the tire and offers data continuity for specific tires across its life cycle.
Oct-2022: Sensata introduced Brake Pedal Force Sensor for electromechanical brakes, which allows safer and better-performing braking systems. This launch provides various benefits compared to conventional pressure and position sensing technologies that include detection of mechanical failure, better response time, and supporting brake-by-wire, hydraulic, and electro-hydraulic architectures.
Sep-2022: Honeywell announced the launch of the VESDA Air Solution, a first-of-its-kind solution that integrates early warning smoke detection with innovative indoor air quality (IAQ) monitoring. This launch aligns with the company’s effort to build safer and healthier buildings.
Aug-2022: OMRON introduced OMRON TM16 with a payload of 16 kg. The launched product would enable customers to broaden their material-handling possibilities and handle heavier materials and parts.
Feb-2022: BAUMER unveiled IO-Link devices and supporting software, the latest software, and sensors. The launch makes sure of cost-effective combination and parameterization, offering simple speed review, and is a reliable long-term solution - even in applications where dust, fibers, and dirt are present.
Dec-2021: OMRON launched K7TM, its new insulation resistance monitoring device, developed for engineers to measure equipment in semiconductor and automotive manufacturing. The K7TM device would be developed to measure the capability of heater equipment utilized in automotive and semiconductor manufacturing processes to deteriorate.
Oct-2021: ATI Industrial Automation has unveiled its “ultra-thin” Mini43LP Force/Torque Sensor, which the company says provides “high-precision force sensing in a rugged, yet compact transducer. ATI’s Mini43LP can enhance the accuracy and repeatability of research and development, product validation, assembly, and other micro force sensing applications.
Mar-2021: OMRON Corporation released FH-SMD Series 3D Vision Sensor for Robot Arms. The launched product would be implemented on a robot to identify randomly placed automotive parts in three dimensions, allowing space-saving assembly, inspection, and pick & place, which are not easy with traditional robots, and enhancing productivity.
Mergers and Acquisitions:
Aug-2022: Honeywell International Inc. came into an agreement with Invensys plc to acquire Invensys Sensor Systems, a global supplier of sensors and controls. Following this acquisition, Invensys Sensor Systems would become part of the Automation and Control Products division of ACS.
Jan-2021: Kyocera acquired SLD Laser, a company engaged in the commercialization of gallium nitride-based laser light sources. Through this acquisition, Kyocera would broaden and develop its business and also contribute to the growth of multiple industries by building the latest products and innovating new products.
Geographical Expansions:
Jun-2022: TE Connectivity expanded its geographical footprint by broadening its operations at the company’s ERNI facility located in Adelberg, Germany. This facility would boost TE Connectivity’s electroplating abilities and serve the facility’s emerging electroplating operations.
Apr-2022: Kyocera Corporation announced the plan to build a manufacturing facility and broaden production capacity for components in Japan. The broadened Sendai Plant Campus in Kagoshima would meet enhanced demand for semiconductor packages supported by sensor cameras, 5G, ADAS, and more.
Scope of the Study
Market Segments covered in the Report:
By Type
• Pressure Sensor
• Temperature Sensor
• Position Sensor
• Force & Torque Sensor
• Proximity Sensor
• Others
By Industry
• Manufacturing
• Oil & Gas
• Aerospace
• Automotive
• Healthcare
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Honeywell International, Inc.
• Kyocera Corporation
• Sensata Technologies Holdings PLC
• Omron Corporation
• Infineon Technologies AG
• TE Connectivity Ltd.
• ATI Industrial Automation, Inc. (Novanta, Inc.)
• FUTEK Advanced Sensor Technology, Inc.
• Baumer Holding AG
• Tekscan, Inc. (Artemis Capital Partners)
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
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