Factory Automation Sensor Market Size to Reach USD 18.13 Billion by 2025, Growing at a 6.6% CAGR - Report by Market Research Future (MRFR)

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New York, US, July 08, 2021 (GLOBE NEWSWIRE) --

Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Factory Automation Sensor Market information by Sensors Type, by Type, by Application and Region – forecast to 2027” the market is estimated to reach USD 18.13 Billion by 2025, registering a CAGR of 6.6%.

Factory Automation Sensor Market Scope:
The global factory automation sensor market is proliferating. The rising industrial automation, the rising demand for improved productivity and safety for workers, and minimized overall production cost drive the market growth. Factory automation sensors play a vital role in automating various industrial processes, allowing information accumulation associated with the functionality of machines and their performance on the systems. Witnessing the constant demand, the market is projected to demonstrate significant growth over the next few years. Massive investments made into the development of automation sensors influence market growth.

Additionally, increasing usages of these sensors in automating factory workflow escalate the market growth, increasing the work efficiency of processes and reducing manual work & downtime. Advances in automation devices and increasing uses of intelligent sensing devices influence the development of the market.

Considerable advancements in artificial intelligence (AI) and other similar technologies push the development of the regional market. Furthermore, vast advancements in sensing technology and improvements in safety standards and improved technological infrastructure influence market growth. 

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Dominant Key Players on Factory Automation Sensor market covered are:

  • Honeywell (US)
  • Rockwell Automation (US)
  • Texas Instruments (US)
  • STMicroelectronics (Switzerland)
  • Panasonic (Japan)
  • First Sensor (Germany)
  • Amphenol Corporation (US)
  • Siemens AG (Germany)
  • Integrated Device Technology (US)
  • ABB Limited (Switzerland)
  • Bosch Sensortec (Germany)
  • Analog Device Inc. (US)
  • Vishay Intertechnology Inc. (US)
  • General Electric (US)
  • NXP Semiconductors NV (Netherlands)
  • Taiwan Semiconductor Manufacturing Company Limited (Taiwan)
  • Infineon Technologies AG (Germany)

Browse In-depth Market Research Report (111 Pages) on Factory Automation Sensor Market: 
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Market USP exclusively encompassed:
Factory Automation Sensor Market Drivers
Industry 4.0 and Automation Favor the Market Growth
Digital transformation across industries, proliferation of Industry 4.0, and IoT advances are megatrends boosting the factory automation sensor market size. The uptake of smart connected devices is anticipated to grow regardless of vertical, which in turn would increase the market share. Besides, improvements in cellular technologies 5G/4G/LTE drive the market, improving connectivity and powering new and emerging IoT applications.

Compromised Privacy is a Major Concern Affecting the Market Health
On the other hand, security and privacy issues are major factors hampering the factory automation sensor market growth. Nevertheless, growing 5G implementations would support the market growth, making security imperative in industrial scenarios. Also, the increased need for automated operations to minimize labor requirements and rising uses of robots in factories to automate packing & labeling, testing, welding, and other testing processes would boost the market share.

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Segmentation of Market covered in the research:
The market is segmented into sensor types, types, applications, and regions. The sensors type segment is sub-segmented into temperature sensors, proximity sensors, vibration sensors, pressure sensors, humidity sensors, vision sensors, and others. The type segment is sub-segmented into contact and non-contact.

The application segment is sub-segmented into manufacturing, oil & gas, chemicals, pharmaceuticals, energy & power, automotive, aerospace & defense, food & beverages, and others. The region segment is sub-segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and others.

Regional Analysis
North America leads the global factory automation sensor market. The largest market share attributes to the presence of key industry players such as Rockwell, Honeywell, and Amphenol Corp., offering unique factory automation sensors. Besides, advances in sensor technologies, alongside the rising demand for factory automation sensors across the applications, drive the regional market growth. The US holds the leading share in the regional market, followed by Canada.

Moreover, stringent government regulations to implement industrial safety technologies and the steady rise across end-user industries create substantial market demand. Also, factors like the augmenting demand for safety and comfort features positively impact regional market growth. Furthermore, growing applications in the manufacturing sector increase the factory automation sensor market share.

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COVID-19 Impact on the Global Factory Automation Sensor Market
The COVID-19 outbreak has positively impacted the factory automation sensor industry. Due to the workforce shortages, many organizations digitized their business processes, including supply chain & product management, sales & marketing, and others. Besides, increasing transformations in the IT & telecom sectors, digital transformations across industries, and the downward global economy contributed to the market upend.

The factory automation sensor market is witnessing a constant uptick over the past few months. Also, solution providers are fostering R&D investments to develop new sensors and advance the existing ones.

Impact of COVID-19 on the Factory Automation Sensors Market:
https://www.marketresearchfuture.com/report/covid-19-impact-factory-automation-sensors-market

Competitive Analysis
Highly competitive, the factory automation sensor market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and product/ technology launch.

For instance, on Feb.24, 2021, Symbio Robotics officially launched its software solution to modernize manufacturing assembly line automation. Armed with US$30MN, the company announces customer success with Nissan and Toyota in modernizing industrial manufacturing by making them faster, more capable and more flexible. Symbio provides solutions for forward-thinking manufacturers through an AI-powered platform that combines advanced computing, sensing and precision-control software.

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