A glance at the market of industrial sensor (2020-2025)

Atieh Salam

March 17, 2021

The Fourth Industrial Revolution (Industry 4.0), along with disruptive technologies, is increasingly witnessed in various industries. Even technology giants like AT&T and Google are also looking for solutions in the fourth generation. With the expansion of the Internet of Things (IoT) and the increase in the number of interconnected devices in the industry, we will be approaching a profound transformation in the industry day by day, but unfortunately, the high cost of manufacturing and installing sensor has slowed down this market.

Base Year	Market size(B$)	Duration(YEAR)	CAGR(%)	Source Name
2019	20	7	7.00%	GM Insights
2019	49.2	5	8.60%	Market and Market
2019	18	6	6.16%	Market Data Forcast
2018	16	7	6.16%	Globe news wire
2018	16	8	106.16%	Zion market research

Table of Contents

Influencing factors that changes market size of industrial sensor market

The size of the market value changes under the influence of many factors; the increase and decrease in the rate of these influential factors leads to changes in the value of the market size, which is provided by direct and reverse drivers in the market of industrial sensor.

Direct drivers:

Increasing industrial demand
Technology adoption
Industrialization

Reverse drivers:

Low-labor costs
High cost of repair and installation

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