Global Level Sensor Market Expected to Reach Around 11.44 Billion USD by 2025
According to a report by Zion Market Research report, the global level sensor market hovered around 7.51 billion in 2018 and expected to hit 11.44 billion by 2025 at a compound annual growth rate of slightly above 6.2% between 2015 and 2019.
To break it down simply, sensors are detectors that have the ability to measure some type of physical quality that is happening, such as motion or light, then convert mechanical motion into electrical signals one will be able to read. Sensors then relay information to another device or software program so that it can be decoded and interpreted. In the case of warning sensors, the sensor itself may emit a signal.
As sensors become more advanced and technologists find ways to implement them into different areas of business and life, sensors will continue to integrate themselves into our everyday activities to help mitigate risks, maximize opportunities and transmit more information about the world around us.
The potential for sensor technology in our society is continually expanding so it is no surprise to note that sensors have thousands of possible applications. As a leader in sensor technology, HSI Sensing has seen first-hand how it has revolutionized big industries and small procedures alike.
The implementation of level sensors in a variety of industries, from the aerospace industry to the medical industry, combined with their rising use across the residential, commercial and industrial sectors are all driving the rising market share of the sensor market.
The exponential advancement of technology in the sensor market over the past several years is expected to drive the market significantly. However, since some level sensors can get disrupted by applications that require fluctuations voltage, temperatures and high stress, design flaws are proposed as a potential hindrance level sensor market growth. And, that’s where HSI Sensing makes it’s mark: with sensor technology that is proven and certified to operate in environments that demand safety and reliability.
HSI Sensing’s hermetically-sealed contacts are specifically engineered for extended life in extreme environments from inside the body to outer space. Individual companies aside, the rising number of regulations by the government to protect the environment has also fueled the level sensor market. With the growing demand for measure and scaling liquid substances, there are ever new market opportunities for the development of level sensors.
The technology segment of the level sensor market includes both contact and non-contact with the wastewater segment comprising the second revenue share of the global level sensor market. This growth is in large part attributed to the rising number of wastewater treatment plants and the growing investment in them. From medical sensors, to aerospace sensors to security sensors, this market is already large and evolving. As technology advances at an exponential rate, it is not too far removed to imagine that within the next five years, a whole new range of applications will have been invented. Geographically, North America will hold a major share of the global level sensor market largely due to the booming pharmaceutical, oil and gas, automatable and food processing sectors.