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IMARC Group, a leading market research company, has recently releases report titled “Level Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global level sensor market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
The global level sensor market size reached US$ 4.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.45% during 2023-2028.
A level sensor is a device that is utilized to determine the level of free-flowing substances or fluids in an open or closed system of any equipment. It is designed to maintain, monitor and measure levels of the liquid as well as fluidized solids, such as slurries, powders and granular materials, in an accurate manner. The sensor further converts the perceived data into an electric signal upon detecting the liquid level. These sensors are widely available in different varieties and sizes that are employed for diverse sensing techniques and requirements. Consequently, they are extensively utilized for numerous application segments across the chemical, pharmaceutical, oil and gas, food and beverage, energy, and mining sectors.
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The market is primarily driven by the increasing adoption of the Industrial Internet of Things (IIoT) and the advent of Industry 4.0. Since level sensors form an indispensable component in multiple automated industries that deal with large-scale manufacturing and storage of powdered materials or liquids, they are widely being employed for water level measurement, object detection and distance ranging. Along with this, continual advancements in the consumer electronics industry has facilitated the rising trend of product miniaturization, which is boosting the uptake of level sensors across the globe. The escalating requirement for smart multiphase sensors in the oil and gas sector is also acting as a major growth-inducing factor. The integration of advanced technologies with these sensors is anticipated to further create a positive outlook for the market.
These devices are widely being equipped with laser and ultrasonic technologies that enable wireless and remote monitoring of fluid levels in the reservoirs. Market players are also increasingly integrating ruggedized reed switch-based technology with float level sensors to precisely detect the fluid level of the tank at any point while offering the convenience of adjusting flow valves or metering pumps for maintaining predictable process control. Some of the other factors contributing to the market growth include the rapid digitization across numerous industry verticals and the increasing adoption of nano-digital sensors.
The report has segmented the market into the following categories:
Breakup by Technology:
Breakup by Monitoring Type:
Breakup by Application:
Breakup by Region:
The report covers the major market players including:
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