The global level sensors market is anticipated to reach USD 5.48 billion by 2025, according to a new report by Grand View Research, Inc. The level sensors are employed in different environment varies from vacuum to high pressure and from high temperature to below zero degree Celsius.Favorable industry regulations such as International Plant Protection Convention (IPPC) directive in semiconductor industry are also expected to stimulate the growth of the industry.
The development of sensor technologies and microcontroller is enhancing the automobile industries to develop complex systems for providing better vehicle control and safety to the end users. Increasing use of multipurpose level sensors in vehicle production and manufacturing industries is expected to fuel the market demand over the forecast period.
Micro-Electro-Mechanical Systems (MEMS) a part of non-contact type sensor is expected to have considerable growth over the projected period. MEMS sensors are expected to play key role in the automotive safety and infotainment applications. Need for higher accuracy, rapid data transmission and self-test capabilities are the key factors driving MEMS demand for the automotive applications.
The market is highly price sensitive and thus the market players are focusing on product differentiation to avoid price competition. Investments in R&D activities are expected to be critical for efficient systems and industry participant’s success. European Commission have mandated various regulations for the manufacturers to improve efficiency which is further fuel the implementation of sensors, hence increasing the demand in the market.
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https://www.grandviewresearch.com/industry-analysis/level-sensors-market
Further key findings from the report suggest:
- The reduction in size of the sensor and price erosion over the past years are the key market drivers
- The non- contact type technology is anticipated to witness significant growth with a CAGR of over 7% over the projected period
- Growing need for safety measures against hazards and accidents in oil & gas exploration is expected to spur the market demand for oil & gas application
- The North American level sensor industry is anticipated to dominate the market in terms of revenue over the forecast period
- The prevailing large consumer base and government initiatives to control the carbon emissions are the key factors driving the North America region growth
- The key players in the level sensor market include Gems Sensors & Control (U.S.), Vega GmbH (Germany), Honeywell International, Inc. (U.S.)
Access press release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-level-sensors-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: https://www.grandviewresearch.com/
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