Level Sensor Market - Increasing Usage of Smart Sensors to Boost Market’s Growth

The worldwide market for level sensors, which stood at US$3.25 bn in 2017, is anticipated to proliferate at a CAGR of 5.60% during the period from 2018 to 2026 and offer an opportunity worth US$5.29 bn by the end of the period of the forecast. Among sensors, the demand for ultrasonic level sensors is expected to rise at a higher pace compared to others as they require nominal maintenance.

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“The global market for level sensors is gaining considerably from the rise in the demand for intelligent devices, which are equipped with microprocessors,” says a TMR researcher. The increasing usage of smart sensors that are proficient enough for a self-diagnosis and establishment of a two-way communication is expected to boost the demand for level sensors across the world in the near future.

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such as food and beverages, consumer goods, oil and gas, and industrial manufacturing, is likely to support the growth of the worldwide market for level sensors over the forthcoming years. However, the high cost of integrating thin-film technology may hamper the market’s growth in the years to come, states the research report.

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