Market Trends of Industrial Sensors Industry
This section covers the major market trends shaping the Industrial Sensors Market according to our research experts:
Image Sensors to Hold Significant Share
- Image sensors take light as an input and convert it to an electrical signal. The image sensor takes the parameters of the light it receives, such as color and brightness, and passes it through the processing circuitry to be turned into an image.
- The sensor constitutes a PN junction, and when it is struck by incident light, it begins to produce electron-hole pairs and thus conducts current. This makes up the pixels within the image sensors, which further make up the images. The sensors are being widely adopted for enhancing industrial equipment in terms of speed while consuming little power.
- For instance, in March 2021, Toshiba Electronic Devices & Storage Corporation released the "TCD2726DG," a lens reduction type CCD linear image sensor for A3 multifunction printers that perform high-speed scanning. The new sensor contains a timing generator circuit and a smaller CCD driver pin count to prevent increased electromagnetic interference (EMI), which is a negative side effect of a faster clock rate. Customers' EMI and timing adjustment work, as well as the number of peripheral parts, are reduced, making system development easier.
- Also, the need for digital transformation continues to grow in different fields of industrial equipment. This has accelerated the adoption of cameras for a variety of applications, driving the demand for (complementary metal-oxide-semiconductor) CMOS image sensors with higher imaging performance.
- The vendors in the market are also combining image sensors and 3D cameras for a better offering. For instance, SICKs Ranger 3 - 3D camera uses CMOS image sensor M30 to create a 3D profile with reduced on-chip data.
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Asia-Pacific to Witness the Highest Growth
- Asia-Pacific is expected to hold a significant share in the market and witness the highest growth over the forecast period, owing to the increasing technological advancements and rapid industrialization.
- Industry 4.0 is breaking the traditional borders of automation and control functions in the process and manufacturing industry. It is enabling a wider domain of functions and industries under global initiatives and architectural frameworks, like Society 5.0 in Japan and Made-in-China 2025 in China.
- Migration to smart or automated factories has accelerated in South Korea as companies are rapidly transforming to implement Industry 4.0 elements as the government is being conducive to the market. South Korea's automotive industry is one of the largest worldwide, growing from a small government-controlled sector to one controlled by large multinational enterprises over the past few decades. The country is home to major players like Kia, Hyundai, and Renault, and it is expected to witness steady growth in the demand for automobiles.
- In China, industries like food and beverage and electric power generation form a significant user base for sensors. The nuclear and thermal power generation industries have several high-temperature processes, parts, and equipment, like boilers, furnaces, turbines, super-heated steam, and water pipelines. Hence, there is a rising need for efficient temperature sensors to optimize the process.
- Multiple companies based in Japan have been engaging in product innovations. For instance, in October 2021, ROHM Semiconductor announced the launch of a new BM1390GLV (-Z) compact, high accuracy barometric pressure sensor IC. The new device features a waterproof rating of IPX8 and is ideal for home appliances, industrial equipment, and compact IoT devices. The company developed the new compact pressure sensor in response to the growing popularity of pressure sensors across various applications.
- Furthermore, the rising electronics industry, burgeoning population, and the growing automobile industry are also responsible for fueling the industrial sensors market in the region.
- Industrial robots can be deployed for a range of tasks in a growing number of industries. This led to the rising automation in the industrial sector in the Asia-Pacific robot sensor market. Manufacturing companies are widely implementing automation technologies to simplify operational processes.
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