(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Industrial Sensor Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Industrial Sensor Market products.
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Kenneth Research, in its repository of market research reports, have recently added a report on Industrial Sensor Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The Industrial Sensor Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of Global Industrial Sensors Market. The report analyses the Sensor Market By Sensors Type (Level Sensor, Image Sensor, Gas Sensor, Pressure Sensor, Position Sensor, Force Sensor, Flow Sensor, Temperature Sensor, Humidity Sensor, Others), By Positional Type (Contact Type, Non-Contact Type) and By End User Industry (Power, Oil & Gas, Chemicals, Water & Waste Water, Pharmaceuticals, Manufacturing, Mining). The global industrial sensor market has been analyses By Region – Americas, Europe, Asia Pacific, ROW, Middle East & Africa and By Country (United States, Canada, Mexico, Brazil, Germany, France, Italy, United Kingdom, China, Japan, India, South Korea, Indonesia, Saudi Arabia, Nigeria, South Africa). The industrial sensor market has been assessed for the historical period 2013-2017 and the forecast period of 2023.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Global Industrial Sensors market is expected to grow mainly due to rapid growth of Industrialization in developing regions like Asia Pacific. Additionally,, developed regions like Europe and North America also play significant contribution in Industrial Sensors demand. Growth in industrial production and energy production will drive the demand of Industrial sensors. Moreover, Industrial revolution 4.0 will boost the demand of industrial sensors in subsequent period. More advanced Image sensors saw a substantial growth for industrial application regarding sensing and security purposes.
“Global Industrial sensor Market – Analysis By sensor Type (Level, Image, Gas, Pressure, Position, Force, Flow, Temperature, Humidity, Others), By Positional Type (Contact, Non-Contact), By End User (Power, Oil & Gas, Chemicals, Water & Waste Water, Pharmaceuticals, Manufacturing, Mining), By Region, By Country (2019 Edition): Opportunities and Forecast (2013-2023)”, global market by value is projected to display growth represented by a CAGR of over 5.47% during 2018 – 2023, primarily driven by growing industrialization and major initiatives taken by the governments in developing countries for the development of manufacturing and energy sector. Companies engaged in designing, manufacturing and supply of Industrial sensors are now more focused towards integration of IoT technology with sensors to analyse data and help in improving plants efficiency.
The report titled“Global Industrial sensor Market – Analysis By sensor Type (Level, Image, Gas, Pressure, Position, Force, Flow, Temperature, Humidity, Others), By Positional Type (Contact, Non-Contact), By End User (Power, Oil & Gas, Chemicals, Water & Waste Water, Pharmaceuticals, Manufacturing, Mining), By Region, By Country (2019 Edition): Opportunities and Forecast (2013-2023)” has covered and analysed the potential of global industrial sensors market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation.
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Scope of the Report
Global Industrial Sensor Market (Actual Period: 2013-2017, Forecast Period: 2018-2023)
- By Sensor Type (Level Sensor, Image Sensor, Gas Sensor, Pressure Sensor, Position Sensor, Force Sensor, Flow Sensor, Temperature Sensor, Humidity Sensor, Others)
- By Positional Type (Contact Type, Non-Contact Type)
- By End User (Power, Oil & Gas, Chemicals, Water & Waste Water, Pharmaceuticals, Manufacturing, Mining)
Regional Market – Americas, Europe, Asia Pacific, ROW, Middle East Africa (Actual Period: 2013-2017, Forecast Period: 2018-2023)
- By Sensor Type (Level Sensor, Image Sensor, Gas Sensor, Pressure Sensor, Position Sensor, Force Sensor, Flow Sensor, Temperature Sensor, Humidity Sensor, Others)
- By Positional Type (Contact Type, Non-Contact Type)
- By End User (Power, Oil & Gas, Chemicals, Water & Waste Water, Pharmaceuticals, Manufacturing, Mining)
Country Analysis – United States, Canada, Mexico, Brazil, Germany, France, Italy, United Kingdom, China, Japan, India, South Korea, Indonesia, Saudi Arabia, Nigeria, South Africa (Actual Period: 2013-2017, Forecast Period: 2018-2023)
- By Sensor Type (Level Sensor, Image Sensor, Gas Sensor, Pressure Sensor, Position Sensor, Force Sensor, Flow Sensor, Temperature Sensor, Humidity Sensor, Others)
- By Positional Type (Contact Type, Non-Contact Type)
- By End User (Power, Oil & Gas, Chemicals, Water & Waste Water, Pharmaceuticals, Manufacturing, Mining)
1. Research Methodology
2. Executive Summary
3. Strategic Recommendations
4. Product Overview
5. Market Dynamics
5.1 Market Trends
5.2 Market Drivers
5.3 Market Challenges
5.4 Market Risks
6. Competitive Landscape
6.1 Porter's Five Force Analysis
6.2 SWOT Analysis
6.3 Market Share of Global Players
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Darlene Dooley
Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
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