The new industrial inclination sensors market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Industrial Inclination Sensors Market 2021-2025 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the industrial inclination sensors market.
"One of the primary growth drivers for this market is the growing adoption of inclination sensors in industrial sectors," says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the industrial inclination sensors market size to grow by USD 45.89 million during the period 2021-2025.
Industrial Inclination Sensors Market Segment Highlights for 2020
The industrial inclination sensors market is expected to post a year-over-year growth rate of 3.20%.
Based on the product, the force balanced inclination sensor segment saw maximum growth in 2020. The key advantages of force balanced inclination sensors are their supreme performance, high accuracy, insensitivity to changes in temperature, and capability of providing a wide range of measurements.
These beneficial attributes are contributing to the growth of the market segment. The growth of the market segment will be significant during the forecast period.
41% of the growth will originate from the APAC region.
The growing urbanization is one of the prime factors that will facilitate the industrial inclination sensors market growth in APAC over the forecast period.
China, Japan, and India are the key markets for industrial inclination sensors in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.
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The industrial inclination sensors market size is expected to accelerate at a CAGR of over 4% during the forecast period.
The industrial inclination sensors market is segmented by product (Force balanced, Fluid-based, and MEMS-based), end-user (Mining and construction industry, Automotive and transportation industry, Aerospace and defense industry, Telecommunications industry, and Others), and geography (APAC, Europe, North America, South America, and MEA).
The market is fragmented due to the presence of many established vendors holding significant market share.
The research report offers information on several market vendors, including ALTHEN GmbH Mess und Sensortechnik, Baumer Holding AG, Balluff GmbH, DIS Sensors, Hans Turck GmbH & Co. KG, ifm electronic GmbH, Pepperl+Fuchs AG, SICK AG, TE Connectivity Ltd., and WIKA Alexander Wiegand SE & Co. KG
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