According to a new report, published by KBV research, The Global Machine Sensor Market size is expected to reach $28.1 billion by 2030, rising at a market growth of 7.7% CAGR during the forecast period.
The Temperature Sensor segment is showcasing a CAGR of 7.5% during (2023 - 2030). The temperature sensor produces and collects signals depending on the physical characteristics of a substance or object. These sensors are utilized in a variety of products, including cell phones, vehicles, industrial gear, and household appliances. The automotive & transportation, manufacturing, and construction sectors are just a few industries where machine sensors are used. Because of growing safety issues in sectors like the automobile, it is more important to keep an eye on how well equipment functions.
The Manufacturing segment is leading the Global Machine Sensor Market by Industry in 2022 thereby, achieving a market value of $7.7 billion by 2030. This results from industrial companies using robots and autonomous systems more often to increase productivity and flexibility. Robotic arms, for instance, include machine sensors that offer input on position, force, and torque. This gives applications for collaborative robotics, which use robots and people together to do activities such as assembly, enhancing productivity, and guaranteeing worker safety.
The Asia Pacific market dominated the Global Machine Sensor Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $10.3 billion by 2030. The Europe market is exhibiting a CAGR of 7.2% during (2023 - 2030). Additionally, The North America market would showcase a CAGR of 7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/machine-sensor-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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).
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