[January 21, 2021]

New Industrial Smart Sensors Market Research during 2021-2025|COVID-19 Impacts and Recovery Analysis|Technavio

The new industrial smart sensors market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.

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Technavio has announced its latest market research report titled Global Industrial Smart Sensors Market 2021-2025 (Graphic: Business Wire)

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"One of the primary growth drivers for this market is the growing demand for wearable technology," says a senior analyst for industrials at Technavio. The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the industrial smart sensors market size to grow by USD 8.05 billion during the period 2021-2025.

Industrial Smart Sensors Market Segment Highlights for 2020

• The industrial smart sensors market is expected to post a year-over-year growth rate of 7.21%.
• Based on the end-user, process industries saw maximum growth in 2020. Factors such as growing demand for wearable technology drives the growth of the market segment.
• The growth of the market segment will be significant during the forecast period.

Regional Analysis

• 45% of the growth will originate from the APAC region.
• APAC will offer several growth opportunities to market vendors during the forecast period.
• China, Japan, and South Korea (Republic of Korea) are the key markets for industrial smart sensors in APAC.

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Notes:

• The industrial smart sensors market size is expected to accelerate at a CAGR of over 9% during the forecast period.
• The industrial smart sensors market is segmented by end-user (Process industries and Discrete industries) and geography (APAC, North America, Europe, MEA, and South America).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including Eaton Corporation Plc, Honeywell International Inc., Infineon Technologies AG, NXP Semiconductors (News - Alert) NV, Robert Bosch GmbH, Rockwell Automation Inc., SICK AG, STMicroelectronics NV, TDK Corp., and Texas Instruments Inc.

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210121005572/en/

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