Tilt Sensor Global Market Share, Segmentation, Opportunities and Forecast to 2023
PUNE, INDIA, May 31, 2018 /EINPresswire.com/ — Market Scenario:
Tilt sensors can be explained as a device which helps to produce an electrical signal in an angular manner. The sensors provides information about the vertical as well as horizontal inclination of the device so that it can easily understand how to tackle the obstacles. Tilt sensors plays a vital role in various applications for instance, to understand how to assist the driver while turning the steering of the vehicle.
The global tilt sensor market is a very dynamic market and is expected to witness stable growth over the forecast period. The growth of the tilt sensor market is influenced by the increasing usage of tilt sensors in the construction & mining equipment’s, high implementation of these sensors in the gaming sectors and increasing adoption of non-metallic materials in different end-users industries. Furthermore, high implementation of tilt sensors MEMS technology in tilt sensors is expected to boost the growth over the forecast period. However, the complexity of technologies and high costs are the factors hindering the growth of the tilt sensor market.
The global tilt sensor market is estimated to grow from USD 167.66 million in 2017 to USD 257.64 million by 2023, growing at a CAGR of 7.42% from 2017 to 2023.
Objective Study of Tilt Sensor Market:
• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global tilt sensor market.
• To provide insights about factors affecting the market growth.
• To analyze the global tilt sensor market based porter’s five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
• To provide country level analysis of the market with respect to the current market size and future prospective.
• To provide country level analysis of the market for segment by type, end-users and region.
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Tilt Sensor market.
For the purpose of this study, Market Research Future has segmented the market of Tilt Sensor into type, end-users and region.
• Switch Based Tilt Sensors
• Proportional Tilt Sensors
• Optical Tilt Sensor
The key players in the global tilt sensor market include- 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.) among others.
North America is the leading economy in tilt sensor market followed by Europe. However, Asia-Pacific is the fastest growing economy in the market majorly due to growing automotive sector and increasing demand from the construction sector. Also, Middle East & Africa has a slow economic growth.
In 2017, North America is estimated to generate the largest revenue of USD 53.23 million followed by Europe with USD 49.92 million generated in 2017. This trend is projected to change by 2023, where Asia-pacific would raise its revenue to USD 78.92 million from USD 46.48 million in year 2017. Asia-Pacific is predicted to show a high revenue growth at a CAGR of 9.22% from 2017 to 2023. Middle East & Africa is expected to grow with slow growth rate of 3.93% during forecast period 2017 to 2023.
• Global Tilt Sensor market has reached USD 167.66 million in 2017 and is projected to exhibit USD 257.64 million by the end of 2023 with a growing CAGR of 7.42%.
• By type segment, the switch based tilt sensor segment among all is growing with a highest revenue value of USD 59.99 million in 2017 and it is estimated to reach USD 93.09 million by the end of 2023 and the segment is estimated to grow with CAGR of 7.60%
• By application segment, the Aviation segment accounted for the largest market share with a revenue of USD 29.71 million in 2017 and is estimated to reach USD 51.22 million by the end of 2023 with a CAGR of 9.50% over the forecast period.
• By region, in 2017, North America is estimated to generate the largest revenue of USD 53.23 million and expected to reach USD 83.53 million by 2023, with 7.80% CAGR followed by Europe. Asia-Pacific is growing with a CAGR of 9.22% thereby would increase its revenue from USD 46.48 million to USD 78.92 million by 2023.
Table of Content: Key Points
2 Research Methodology
3 Market Dynamics
4 Executive Summary
5 Market Factor Analysis
6 Global Tilt Sensor Market, By Type
7 Global Tilt Sensor Market, By Application
8 Global Tilt Sensor Market, By Region
9 Competitive Landscape
10 Company Profile
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Source: EIN Presswire