Connected Industrial Sensor: Introduction
- Connected industrial sensor solution is a compact multi-sensor device used in industrial environments. This sensor device is able to detect the ambient condition. Connected industrial sensors include gyroscope, accelerometer, and light sensors. These sensors activate and deactivate depending on the requirement. Connected industrial sensors are fitted in machines, machine modules, and plants.
- Various industries are incorporating IoT sensors to increase productivity and efficiency. In September 2019, Hitachi Vantara introduced Lambada Manufacturing Insights to boost the manufacturing sector by enhancing production and quality.
Key Drivers of Connected Industrial Sensor Solution Market
- Rise in demand for sensors across industries including oil & gas, manufacturing, and pharmaceutical to enhance productivity is likely to boost the connected industrial sensor solution market. Increase in use of pressure and temperature sensors in the oil & gas industry in order to optimize the process is anticipated to drive the use of connected industrial sensors across the globe. Growing industrial automation in order to reduce production down time is likely to further propel the connected industrial sensor solution market across the globe.
- Introduction to Industry 4.0 across the globe is likely to fuel the connected industrial sensors solution market across the globe. Rising expenditure by governments across the globe to promote new industries, including manufacturing, is likely to increase the demand for connected sensor across the globe. Major manufacturers are focusing on implementation of cloud computing with advanced sensors, which is anticipated to boost the connected industrial sensor solution market across the globe. Rise in adoption of industrial robots across the globe is also estimated to propel the connected industrial sensor solution market across the globe.
Europe & Asia Pacific to hold significant share of global connected industrial sensor solution market
- Europe is projected to account for a major share of the global connected industrial sensor solution market due to a rise in industrial automation across the region. Europe has major presence of manufacturing industries, oil & gas industries where demand for sensors are increasing to enhance production, which in turn is likely to boost the connected industrial sensor solution market across the region.
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global connected industrial sensor solution market due to increase in government initiatives to develop automated industries across the region. Rise in number of small- and medium-scale industries across Asia Pacific is likely to increase the demand for connected sensors across the region.
Key Players Operating in Connected Industrial Sensor Solution Market
The connected industrial sensor solution market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the connected industrial sensor solution market are:
- Amphenol Corporation
- Robert Bosch GmbH
- ams AG
- Analog Devices Inc.
- FIGARO Engineering Inc.
- First Sensor AG
- Honeywell International Inc.
- Integrated Device Technology Inc.
- NXP Semi-Conductors N.V.
- OMEGA Engineering Inc.
- Panasonic Corporation
- Rockwell Automation Inc.
- Siemens AG
- STMicroelectronics N.V.
- TE Connectivity
- Teledyne Technologies Inc.
Global Connected Industrial Sensor Solution Market: Research Scope
Global Connected Industrial Sensor Solution Market, by Sensor Type
- Digital Light Sensor
- Pressure Sensor
- Humidity Sensor
- Temperature Sensor
- Force Sensor
Global Connected Industrial Sensor Solution Market, by Connectivity
Global Connected Industrial Sensor Solution Market, by End-use Industry
- Energy & Power
- Oil & Gas
Global Connected Industrial Sensor Solution Market, by Region
- North America
- Nordic Region
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.