Tilt Sensor Market to hit $173.09 Bn, Globally, by 2028 at 6.9% CAGR: The Insight Partners

According to the new research report published by The Insight Partners, titled "Tilt Sensor Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Material, Technology, and Industry," the market is projected to reach US$ 402.94 million by 2028 from US$ 268.72 million in 2021; it is estimated to grow at a CAGR of 6.0% from 2021 to 2028.

The global tilt sensor market is segmented into five major regions- North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. In 2020, Asia Pacific led the market with a substantial revenue share, followed by North America and Europe. The demand for construction equipment was aided by a growing focus on infrastructure and automation use in building and manufacturing processes. The road construction machinery market has seen substantial expansion in recent years due to increased road development initiatives implemented by the central and state governments, particularly in Asia-Pacific. Construction equipment producers prefer electric and hybrid vehicles over traditional hydraulic and mechanical vehicles because of advantages such as cost-effective machines and regulatory pressures to reduce emissions. Due to the high cost of construction equipment and the difficulty of maintaining it, renting or leasing it has become more popular. Rental firms offer the equipment, requisite experienced machine operators, and drivers. The construction sector is becoming sophisticated. Digitalization, connectivity, and automation are propelling the real estate industry forward, with significant implications for construction projects.

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Tilt sensor Market Insights

In the automotive industry, The use of tilt or inclination sensors is growing. These, together with gyroscopes, are primarily employed to improve passenger safety and vehicle efficiency. Tilt sensors are utilized in a variety of vehicle applications, including electronic parking brakes, rollover detection, electronic stability control, and idle stop-start, among others. Additionally, as automotive firms increase their investments in vehicle automation, the use of ADAS and inertial navigation, hill-start assistance, and dynamic headlight leveling has grown. Mercedes, for example, has created self-leveling lamps that adapt to the road's inclination curves. The organization has installed tilt sensors for this automation as well. Furthermore, the automobile industry is making progress toward the development of self-driving vehicles. In recent years, the development and usage of these cars have increased dramatically. For example, BMW began production of autonomous electric vehicles at their new plant in March 2019. According to UBS, AV production and sales income is predicted to reach USD 243 billion by 2030.

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Japan and India are the other two countries that have a large number of electronics and semiconductor manufacturers and end-users. These two countries have also registered a higher number of COVID-19 cases and are still continuing the battle against the spread.

Automation Sensorik Messtechnik GmbH; elobau GmbH & Co. KG.; MEMSIC Semiconductor (Tianjin) Co., Ltd.; Positek; Welan Technologies Pvt Ltd.; Sensata Technologies, Inc.; Geosense; Parker Hannifin Corporation; Shanghai Zhichuan Electronic Tech CO., LTD. , Ltd; and TE Connectivity Corporation are among the major companies operating in the tilt sensor market.

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Contact Us: If you have any queries about this report or if you would like further information, please contact us: Contact Person: Sameer Joshi E-mail: sales@theinsightpartners.com Phone: +1-646-491-9876

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.