Billions market for industrial sensors due to digitization

Sensors are an important technology, used by smart systems that are interconnected. They underlie digitization systems throughout the value chain in virtually all industrial segments.

The era of connected and intelligent manufacturing is long overdue. Flexible, automated production systems enable effective production of even the smallest batch sizes for the first time. The defining role of data transmission can be attributed to industrial sensors. They track all machine tool processes, collect information and detect even the smallest deviations from normal operation.

Billion-dollar market

The market potential of industrial sensor technology is largely driven by the megatrends Industrial Internet of Things, Industry 4.0 and automation. Market Research Future (MRFR) analysts estimate the global market at $46 billion by 2032, with a compound annual growth rate of 7.5 percent from 2023. The largest growth will be in vision sensors.

Vision sensors

Sensors ensure consistently high product quality and transparency as part of quality control. Automated image processing (machine vision) with industrial cameras, digital sensors, special optics and software and, increasingly, deep learning is an important part of this.

Predictive maintenance

Predictive maintenance also relies on sensors, in this case sensors for vibration, temperature, pressure, gas, humidity or noise. These provide the data for autonomously learning machine learning models that calculate optimized maintenance intervals or proactively initiate the replacement of damaged components. On customer machines and systems, these sensors open up new data-based business models in the form of innovative billing mechanisms such as pay-per-use, product-as-a-service (PaaS), machine-as-a-service (MaaS) or service offerings such as predictive maintenance.

Inventory Management

Sensors can be found today in almost all sectors and departments. Consider, for example, sensors that contribute to a solution for inventory reduction, digitization of replenishment processes and optimization of material flows. Fill quantities can be monitored by sensors that run on batteries and wireless networks. Critical inventories are reported and the replenishment process is initiated without manual effort. Smart inventory management can be fully automated with sensors.

Cost-effective sensors for industry

Sensor technology does not always have to meet expensive industry standards. Data fusion from less powerful sensors is just as capable of performing a wide range of tasks. For example, even simple acoustic sensors with associated frequency analysis are often sufficient to determine material wear and thus maintenance status.

MEMS technology

In addition, advances in MEMS (microelectronic mechanical systems) technology mean that ultra-small, low-cost and energy-efficient MEMS sensors can replace conventional industrial sensors. These include accelerometers, gyroscopes, inertial measurement units (IMU) and magnetometers, as well as temperature and pressure sensors for environmental monitoring. Combined with microcontrollers and communication interfaces, they form intelligent solutions for monitoring everything from machines to entire industrial plants.

The future of sensors

For Industry 4.0, sensor technology is a key technology. But meanwhile, Industrie 5.0 is emerging. Here, the interaction between humans, technology and the environment is central, with much attention being paid to sustainability. Sensor technology will also continue to play a crucial role in Industrie 5.0. It is expected that ever smaller and more compact sensors will cover a wider range of devices and applications, and that high-tech materials such as graphene and nanocomposites, as well as quantum mechanical concepts, will increase sensitivity and robustness.

Smarter, smarter, smartest

In addition, the development of smart industrial sensors in particular has made progress in recent years. When networked and equipped with intelligent data processing, they turn into powerful tools for monitoring and controlling industrial processes. More integration with cloud computing, big data or edge computing will provide even more comprehensive and accurate insights in the future.

Detection of structures without touch

Developments in sensor technology are advancing all the time. For example, researchers at Qingdao University in China have worked with partners to develop sensors that enable remote data transfer. They published their innovation in Science and Technology of Advanced Materials. Electronic skins have become a crucial component in bionic robots. The non-contact touch sensors use electric field interference between the object and the edge of the sensor. This allows these sensors to seamlessly recognize 3D object shapes and detect accurate positional motion. Again, this innovation is expected to open up new opportunities for industry.