This Thomas Index Report is sponsored by Mouser Electronics, a worldwide leading distributor of semiconductors and electronic components for design engineers.
Hello again. This week we’re going to take a look at sourcing activity for Sensors by users of the Thomasnet.com platform. Our data shows that over the past 12 weeks, sourcing activity for this category is up 19% over its historical average.
Our firmographic buyer data shows that three of the top industries driving this trend are automotive, construction, and manufacturing.
Sensors play a huge role on the smart factory floors of Industry 4.0, or the “Industrial Internet of Things,” where automation and the exchange of data between machines have fundamentally transformed manufacturing. This transformation would be impossible without sensors – or more specifically, ‘smart’ sensors that feature technologies such as microprocessors, storage, diagnostics, and connectivity tools to capture, share, and deliver actionable data.
The types of smart sensors used vary widely, ranging from acoustic, chemical, and electrical sensors, to environmental, image, motion, and touch sensors, and more. These advanced sensors are being implemented not only on the factory floor, but throughout the entire supply chain to give managers real-time information about things such as inventory, machinery, and materials.
Industrial automation is a huge industry, expected to be a $322 billion market globally by 2024, according to Zion Market Research. Within that field, the global smart sensor market is growing at a brisk 19% annual rate, and according to Deloitte is projected to be a $60 billion market by 2022.
In addition to sourcing for Sensors, our data also shows that sourcing activity is up 5% or more, month over month, in the related categories of Robotic Systems Integrators and Industrial Automation Systems Integrators.
Moving on from Sensors, here’s a look at the top 10 industrial product and service categories being sourced on the Thomasnet.com platform over the past four weeks.
- CNC Machining
- Printed Circuit Boards (PCB)
- Metal Stampings
- Corrugated Boxes
- Injection Molded Plastics
- Plastic Bottles
- Metal Fabrication
- Industrial Sewing Contractors
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Thanks for watching, and I’ll see you next week.