Market Scenario: —
The level sensor is generally used to detect the level of liquids, fluidized assets involving slag, granular slurries, and powders that are present in the upper layer of open surfaces. According to industrial criteria such as solid and liquids, level sensors can vary. Liquid type sensors are used in different verticals such as oil & gas industries, medical, industrial automotive, and printing industries. One of the main advantages of level sensors is that they offer precise and accurate outputs in case of leak detection in the various industries such as oil & gas, water, and waste management. Level sensor technology is generally used in automotive sectors in order to detect the fuel in the vehicle. With the advancement of technology, level sensors have transformed into digital sensors which have reduced the cost, size, and shape of level sensors.
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Level sensors are currently transforming from point level (contact level) to continuous level (non-contact level). Point level sensors are segmented as vibrating, rotating paddle, mechanical, microwave and capacitance and pulsed-ultra sonic whereas continuous level include magento-strictive, resistive chain, magneto-resistive, hydrostatic pressure, air bubble gamma ray and micro-electro-mechanical system (MEMS). MEMS sensors offer self-sensing technique along with greater accuracy and error-free detection which is presumed to strengthen non-contact level market over the review period.
Surging demand for supervising and monitoring of fluid level in process industries due to accurate, precise and low-cost perpetuation is expected to propel the Level Sensor Market over the forecast period. Additionally, nano-technology is also anticipated to have a positive impact on level sensor market. Nano-technology associated with level sensors provides greater scalability features in a physical, chemical and biological form that further provides a better detection in terms of authenticity, reliability, and validity. The emergence of nano-enabled sensors is expected to be an opportunity to drive the level sensor market over the forecast period. Most of the companies are focusing on collaboration and merges for constant innovation on the nano-enabled sensor. For instance, General Electric, Air force Research Laboratory, and Lockheed Martin together employ innovative techniques for the nano-based sensor to provide predictive decisions that could monitor the health of the patients for their medical treatments. It is also engaged to design systems to predict the level of fluid inside the body with higher accuracy and precision.
The global level sensor market is expected to grow by approximately 9% CAGR during the forecast period, 2017-2023.
The prominent players in level sensor market are Texas Instruments Incorporated (U.S.), Siemens AG (Germany), Fortive Corporation (U.S.), Honeywell International Inc. (U.S.), First Sensor AG (Germany), ABB Ltd. (Switzerland), Vega Grieshaber KG (Germany), KROHNE Messtechnik GmbH (Germany), Nohken, Inc. (Japan), TE Connectivity Ltd. (Switzerland), Pepperl+Fuchs GmbH (Germany), AMETEK, Inc. (U.S.), and Endress+Hauser AG (Switzerland).
Level sensor market is bifurcated by technology and application.
Based on technology, level sensor market is sub-segmented into contact type and non-contact type. The contact level is further sub-segmented into pneumatic, vibratory probe, hydrostatic, magnetic & mechanical float, magneto-strictive, and guided wave. Furthermore, non-contact is sub-segmented into ultrasonic, microwave/radar, optical, laser, micro-electro-mechanical system (MEMS), and others.
Application segment is further categorized into consumer goods, automobile, industrial manufacturing, chemicals, dry bulk, pharmaceuticals, waste & water management, oil & gas, energy & power, and healthcare.
Level sensor market is geographically segmented into North America, Europe, Asia Pacific Latin America and the Middle East & Africa.
North America is presumed to be leading region over the level sensor market. The increased investment in existing technology to consolidate with the surging demand for Industrial Internet of things (IIoT) is anticipated to drive the market over the forecast period. Asia Pacific is expected to be the fastest growing region over the forecast period. This is attributed to a large number of electronic manufacturer market in the region. China, Republic of Korea and Japan are expected to be leading countries of the region. India is anticipated to be a fastest growing country in Asia Pacific region owing to an increased percentage of foreign direct investment (FDI) policies. The European region is expected to have the substantial growth over the forecast period.
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• Technology Investors
• Research/Consultancy Firms
• Level sensor software vendors
• Raw material and manufacturing equipment suppliers
• Original equipment manufacturers (OEMs)
• OEM technology solution providers
• Forums, alliances, and associations
• Technology investors
• Micro-Electro-Mechanical System (MEMS) manufacturer
• Governments and financial institutions
• Analysts and strategic business planners
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Name: Abhishek Sawant
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Release ID: 399137