According to a report issued by Persistence Market Research, the global area sensors market is projected to grow at a CAGR of 6% in terms of value through 2026. The annual revenue from the area sensors market globally is likely to stand at a valuation of $6,909.9 Million by 2026. In terms of industry-wise adoption, the food packaging industry is estimated to represent the most attractive growth during the forecast period. Area sensors are being increasingly used in the packaging sector to enhance industrial efficiency, convenience, and precautions.
Highlights
- North America and Europe are expected to be the dominant regions in terms of market value & shipments of the Area Sensors market. However, during the forecast period, the market in SEA and other APAC is expected to overtake the market in Europe in terms of growth with a CAGR of 11.2%.
- Key vendors in the area sensors market including Panasonic Corporation, Omron Corporation, Datalogic S.p.A., Keyence Corporation, and Delta Electronics are leveraging IoT advancements for area sensors integrations- for object identification and real-time location tracking.
- Industrial IoT Leading the Way for Area Sensors Adoption
- Increasing adoption of building automation features in industries is further creating potential growth opportunities in the area sensor market.
- Combining other connecting platforms such as RFID, Bluetooth and HomeRF with area sensors is likely to increased adoption in industrial and building automation.
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