Press release
Tilt Sensor Market Share, COVID-19 Pandemic Impact, Comprehensive Analysis, Opportunity Assessment and Trends by Forecast 2023
Tilt Sensor Market
The global Tilt Sensor Market is growing rapidly over 7.42% of CAGR and is expected to reach at USD 257.64 million by the end of forecast period. The global tilt sensor market has been witnessing a steady growth over the last few years on account of rapid growth of automobile and transportation market, high implementation of sensors in the constructions machines and rising demand for tilt sensors based MEMS technology. The market has been divided into following application such as mining, transport, automobile and many more.
Tilt sensors are used for non-contact detection of any objects and for observing the level. The sensors are used for detection of non-metallic materials. Tilt sensors are used across various sectors such as construction & mining, gaming, robotics and aviation among others. For instance, in gaming, tilt sensors are used to detect the inclination for which non-metallic materials are used. Non-metallic materials since they are convenient, environment friendly and cost-effective.
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The factors contributing to the growth of the automobile sector are global harmonization and economies of scale. Also, increasing safety awareness and personal protection is demanding for better standards in protecting both persons and property and in return it is increasing the proportion of vehicle value. In 2017, the automobile sector contributed 12.57% to the overall growth of the tilt sensor market. Tilt sensors are majorly used to understand the inclination of the steering.
Tilt sensors are used in robots since balance is one of the most important criteria. For instance, whenever a robot inclines to any direction tilt sensor helps to incline in form of electrical signals. Therefore, it makes the robot judge on its own and helps to get aligned on its own.
Global Tilt Sensor Market Segmentation
The global tilt sensor market is segmented on the basis of type, application and region. On the basis of type the segment is further divided into switch based tilt sensors, proportional tilt sensors, and optical based tilt sensors. On the basis of application the segment is further classified into mining, construction, automobile, transport, robotics, gaming, aviation and many more.
Key players
Some of 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.
Market Research Analysis:
On geographic basis, global tilt sensor market is studied in different regions as North America, Europe, Asia-Pacific and Rest of world. By region, North America has dominated the tilt sensor market and has generated USD 7.01 million market value in 2017 and is estimated to reach USD 9.57 million market by 2023 with growing 5.34% CAGR. Companies are adopting partnership strategies for targeting untapped markets and product innovations. The market at present is leaded by North American and European countries on account of higher safety and hygiene concerns. In future, Asia-Pacific region is expected to hold largest revenue share due to number of key players operating in the tilt sensor market are based in Asia Pacific.
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