According to a report by Transparency Market Research, titled “Fork sensors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026”, the global fork sensors market is projected to register compound annual growth rate (CAGR) of over 8.69% from 2018 to 2026. The market is expected to grow significantly due to increased cost efficiency and long operating life.
The report suggests that the rising integration of IoT with fork sensors technology is expected to boost the fork sensors market at the global level during the forecast period 2018-2026. In August 2017, Leuze electronic GmbH, a significant provider of fork sensors, collaborated with Microsoft Corporation to accelerate the use of Internet of Things (IoT) solutions.
Additionally, fork sensors based solutions are gaining popularity in manufacturing applications, which holds a significant share in the market. Prominent fork sensors providers are focusing on R&D investments for further improvement of their current sensor based offerings.
- August 2017, Banner Engineering Corp. developed a new building for research and development in Minneapolis, the U.S.
- Rising adoption of smart sensors is expected to boost the fork sensors market
- Prominent adoption of fork sensors in the manufacturing sector
- Europe is holding a significant share of the fork sensors market
- Key Players such as Omron Corporation, Sick AG, ROHM Semiconductor, and Pepperl+Fuchs GmbH likely to lead the global fork sensors market
For greater enlightenment, request a PDF sample of the report.
Transparency Market Research