Press release
Industrial Transmitters Market Projected to Reach US$ 21.4 Billion by 2028
Industrial Transmitters Market Report 2023
Report Highlights
How big is the industrial transmitters market?
The global industrial transmitters market size reached US$ 15.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.43% during 2023-2028.
What are industrial transmitters?
Industrial transmitters are electronic devices utilized in industrial environments to measure process variables and convert them into electrical signals for transmission. They cover an extensive range of parameters, including pressure, temperature, level, flow, vibration, pH, conductivity, oxygen, and general-purpose measurements. Industrial transmitters consist of several components, such as sensing elements, microcontrollers, digital signal processors (DSP), memory, communication interfaces, display units, power supplies, and enclosures. They offer precise and reliable measurements that are instrumental in maintaining consistency, improving product quality, optimizing processes, reducing energy consumption, and enhancing efficiency. Consequently, industrial transmitters find widespread applications across numerous sectors, including oil and gas, automotive, chemical, food and beverage (F&B), manufacturing, power generation, aerospace, etc.
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What are the growth prospects and trends in the industrial transmitters industry?
The industrial transmitters market growth is primarily driven by the increasing demand for industrial automation and the rising need for advanced systems that provide real-time monitoring and accurate measurements for various industrial processes to enhance operational efficiency, decrease human errors, and improve process control. Another significant growth-inducing factor is the elevating focus on optimizing industrial operations to lower costs and boost productivity. Besides this, the launch of strict government regulations that necessitate industries to ensure compliance with safety standards, minimize environmental impact, and prevent accidents is also positively influencing the global market.
Moreover, the development of smart transmitters with cutting-edge diagnostics features that enable predictive maintenance, reduce downtime, and optimize overall performance is further stimulating the market growth. Additionally, the growing integration of wireless communication and internet-of-things (IoT) technology that aid in eliminating complex wiring, allowing flexible installation, and enabling remote monitoring and control and the inflating investments in digital technologies across industries are expected to bolster the industrial transmitters market in the coming years.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Type Insights:
Pressure Transmitter
Flow Transmitter
Level Transmitter
General Purpose Transmitter
Temperature Transmitter
Others
Industry Vertical Insights:
Oil and Gas
Energy and Power
Chemical and Petrochemical
Water and Wastewater Treatment
Others
Breakup by Region:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
ABB Ltd, AMETEK, Inc.
Danfoss A/S
Dwyer Instruments Inc.
Emerson Electric Co
Fuji Electric Co. Ltd. (Furukawa Group)
General Electric Company
Honeywell International Inc.
Schneider Electric
Siemens AG
WIKA Alexander Wiegand SE & Co. KG
Yokogawa Electric Corporation
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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