Industrial Sensors Market Size

Industrial Sensors Market size was over USD 28 Billion in 2023 and is anticipated to cross USD 50 Billion by the end of 2036, witnessing more than 9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of industrial sensors is estimated at USD 35 Billion.

The increasing approval of image sensors for machine vision applications in production sectors and the rising expansion of the production sector will exponentially help the industrial sensors market to grow in the expected CAGR. The World Manufacturing Production Statistics published by the United Nations Industrial Development Organization (UNIDO) demonstrated that, as of the second quarter of 2021, worldwide manufacturing production has grown by 18.2 percent annually. The technology of machine vision inspection has revolutionized multiple manufacturing industries.