As per a Vision Research report, the level sensors market took in $3.25 billion in 2017. It is anticipated to achieve a CAGR of 5.60% during the period from 2018 to 2025 and score $5.29 billion by the end of the period of the forecast. Among sensors, the demand for ultrasonic level sensors is expected to rise at a higher pace compared to others as they require nominal maintenance.
Report Highlights
- A rapid rise in the use of level sensors in various intelligent devices has primarily been responsible for driving the global level sensor market to achieve a steady growth.
- Leading players in level sensors market are First Sensor AG, ABB Ltd., SICK AG, TE Connectivity Ltd., Siemens AG, Emerson Electric Co., and Texas Instruments Inc.
- Among sensors, the demand for ultrasonic level sensors is expected to rise at a higher pace compared to others as they require nominal maintenance.
- The ultrasonic level sensor segment is anticipated to expand at a CAGR of 5.20% between 2018 and 2026, notes the research study.
- Asia Pacific gained maximum revenue in 2017 and is expected to continue its good run in this market even during the forthcoming years.
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