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3. Industrial Sensors Companies - Honeywell International Inc. (US) and Rockwell Automation (US) are the Key Players

The Industrial sensors market is projected to grow from USD 27.9 billion in 2024 and is expected to reach USD 42.1 billion by 2029, growing at a CAGR of 8.5% from 2024 to 2029. The rising adoption of Industry 4.0 and IIoT in manufacturing is driving the demand for the industrial sensors market. The essential components and framework of Industry 4.0 comprise Big Data, model simulation, cloud technology, augmented reality, Industrial Internet of Things (IIOT), artificial intelligence, autonomous robots, and cybersecurity. Hence, Industry 4.0 is leading to an increase in the adoption of wireless industrial sensors.

Major Industrial sensors companies include:

• Rockwell Automation (US),
• Honeywell International Inc. (US),
• Texas Instruments Incorporated (US),
• Panasonic (Japan),
• STMicroelectronics (Switzerland),
• TE Connectivity (Switzerland),
• Siemens (Germany),
• Amphenol Corporation (US),
• Dwyer Instruments, LLC. (US),
• Bosch Sensortec (Germany), among others.

New product launches, collaborations, and acquisitions were the key strategies adopted by the players in the industrial sensor market ecosystem to enhance their product portfolios, increase their market share, and expand their presence in the industrial sensor market.

To know about the assumptions considered for the study download the pdf brochure

For instance, in December 2023, STMicroelectronics (Switzerland) announced the launch of a shutter image sensor that offers high resolution in a compact form factor and low power consumption. The sensor is designed for use in a range of applications, including AR/VR, personal and industrial robotics, drones, barcodes, biometrics and gestures, and embedded vision and scene recognition.

In May 2023,  Dwyer Instruments, LLC announced the release of the industrial differential pressure transmitter, Series IDPT. These transmitters feature a rugged housing and highly stable accuracy for long service life in most industrial applications, including semiconductors, pharmaceuticals, laboratories, fume hoods, HVAC pressure, critical measurement, and high purity.

Rockwell Automation is a global leader in industrial automation and digital transformation, providing a wide range of hardware, software, and services that help manufacturers improve their productivity, efficiency, and sustainability. The company operates through 2 business divisions: Control Products & Solutions and Architecture & Software. The company caters to the industrial sensors market through the Architecture and software business segment. It offers a wide range of products, which include temperature sensors, pressure sensors, level sensors, position sensors, photoelectric sensors, and ultrasonic sensors. The company has a presence in more than 100 countries, with a strong geographic presence in the North America and Europe regions serving customers from the industrial and commercial sectors across the world. The company has three leading strategic brands, namely, Allen-Bradley, Rockwell Software, and Rockwell Automation.

Honeywell International Inc. is a diversified American multinational conglomerate corporation headquartered in Charlotte, North Carolina. It operates in four main business segments: Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. Its Aerospace business segment provides aircraft engines, avionics, and other products and services to customers from the commercial and military sectors. The Building Technologies business segment provides heating, ventilation, and air conditioning (HVAC) systems, controls, and other products for commercial and residential buildings. The Performance Materials and Technologies segment offers specialty chemicals, polymers, and other materials used in various industries, including automotive, electronics, and construction. The Safety and Productivity Solutions segment offers many products and services to help businesses improve safety, productivity, and efficiency. The company offers a wide range of industrial services, including installation and commissioning, engineering, consulting, operational improvement, and maintenance and monitoring. The company offers its safety switches to several industries, such as aerospace, oil refinery, chemicals, petrochemicals, healthcare, and mining. In addition to that, the company has a strong presence in regions such as North America and Europe.

Related Reports:

Industrial Sensors Market by Sensor Type (Level Sensor, Temperature Sensor, Gas Sensor, Pressure Sensor, Position Sensor, and Humidity & Moisture Sensor), Type (Contact & non-contact sensors), End-User Industry and Region - Global Forecast to 2029

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