The increasing need for sensor market in healthcare and automobile sectors has been boosting the growth of the overall market. Also, factors such as cost efficiency and flexibility are projected to propel the growth of the Tilt Sensor Market. The companies are investing in proportional based tilt sensors majorly due to low cost of raw materials. Various manufacturers such as TE connectivity among others are investing largely in the sensor market. However, the major factors driving the growth of the market are the growing demand for security concerns and increasing in investment in infrastructure in the emerging nations.
The global tilt sensor market is expected to reach approximately USD 275 million by the end of 2023 with 7% CAGR during forecast period 2017-2023.
Tilt Sensor Market Players:
- Pepperl+Fuchs Vertrieb GmbH & Co. KG (Germany)
- TE Connectivity Ltd. (Switzerland)
- MEMSIC, Inc (U.S.)
- SICK AG (Germany)
- Murata Manufacturing Co., Ltd. (Japan)
- Level Developments Ltd. (UK)
- Spectron Sensors (U.S.)
- Tamagawa seiki Co,.Ltd (Japan)
- The Fredericks Company (U.S.)
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Tilt Sensor Market
According to Market Research Future, market has been segmented into type, end-users and region.
On the basis of end-users, the market has been segmented into mining, construction, automobile, transportation, robotics, gaming, aviation, healthcare among others.
Out of these end-users, gaming and automobile industry accounted the largest market share. The reason is attributed to increasing demand for video games, technological changes and increasing demand for electrical cars from the Asia-Pacific region.
Also, the healthcare sector is expected to grow over the forecast period, 2017-2023 majorly due to increasing usage of sensors in the modern machines, better medical facilities and increasing investment to come up with new sensor based machines.
Market Research Future Analysis
The global tilt sensor market is expected to grow significantly over the forecast period, 2017-2023. Gaming and automobile segment of tilt sensor market globally drives the market majorly due to increasing demand for play stations and increasing production of automatic vehicle. The market is expected to have higher growth rate as compared to the previous years.
Asia-Pacific region is expected to grow at a fast pace over the forecast period, 2017-2023. Countries such as Japan, China and India contributes largely to the overall market share. The reason is attributed to the increasing improvement in the IT infrastructure, increasing demand for sensor based cars, China being a manufacturing hub and aviation & automobile sector is the largest revenue generator in this region
North-America accounted for the largest market share majorly due to increasing demand for three-dimensional video games and the growing usage of sensor based machines in various medical institutes and hospitals.
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