Industrial 4.0 intelligent manufacturing and load cell under 5G, AI and big data
If there is no load cell to measure important production parameters such as pressure, position, temperature, etc., the Industrial Internet of Things (IIoT) will not play any role. It is thus understandable that the market for load cells is also taking off as the IIoT and consumer IoT applications continue to grow. The continuous innovation of sensor technology will expand the expansion capabilities of the Internet of Things.
The $85 billion sensor cell market has grown at a compound annual growth rate (CAGR) of more than 7.5% over the past three years, according to Headwaters, a Denver-based investment bank. It is expected that by 2019, the market value will grow to more than $115 billion, with a compound annual growth rate of 7.3%.
There are more load cells in the automotive industry (a huge demand for autonomous vehicles) and medical applications (health monitoring and medical diagnostics are key), but far less than the large demand in the industrial sector, accounting for more than the sensor One third of the market.
IIoT is expected to stimulate huge demand for sensors, and according to the Headwaters report, industrial data is expected to double in the next 10 years. In view of the knowledge of the professional fields of industrial participating companies, IIoT technology should achieve higher profit growth opportunities.
As a more mature terminal market, industrial applications pay more attention to high-end rather than mass production. Sensors used in harsh environments need to meet the requirements of high reliability, high precision and miniaturization. As machine-to-machine (M2M) communication becomes more complex, sensors are helping to achieve predictive maintenance, asset monitoring, and data analysis to increase productivity.