Detection of substance flow is an essential process in many industry verticals. Level sensing is a crucial process for various household appliance, vehicles and engines. The importance and diverse range of applications of level sensors make them highly popular across different industry verticals. Global level sensors market has great potential for expansion and revenue channels in the days to come. This fact is evident from the steady growth in market share that level sensing technology is set to record in the near future. Technological advancements and increasing government regulations about their mandatory use are two basic driving forces behind the success of this industry.
Level sensing is essential process for different industries, which attracts majority of customers and businesses. Segmentation in global level sensors market is interestingly based on the different technologies and application areas of this process. Depending on the technologies, the industry is segmented into contact-base and noncontact-based technologies. Magnetostrictive, hydrostatic, vibratory probe and magnetic float are some popular contact based technologies. Non-contact based technologies on the other hand include laser, optical, radar and ultrasound technologies.
Technologies like magnetic and mechanical sensing are popularly have great industrial applications, radar and ultrasound technologies are used at more remote and hazardous locations. Global market has diverse range of applications in various industry verticals including computer, information communication technology, automotive, industrial, consumer services, power, transportation, manufacturing, defense, military, healthcare, aerospace and other segments such as agriculture and environment. According to the recent market research reports, industrial segment leads the market in terms of applications and full-fledged use.
Forecasting reports for the global level sensing technologies market suggest a steady growth in the market. According to these reports, the industry is set to witness growth at an anticipated CAGR of 7.8% from 2013 to 2018. The market shipped 117.41 million units in 2012, which is expected reach past 248.46 million units by the end of 2018. The total number of product shipping is estimated to grow at a CAGR of 12.9% by 2018. Based on geographical demands for these technologies, North America holds majority of market shares. Unites Stated of America is the major contributor in North American sector with the largest percentage of share. Asia Pacific and rest of the world regions follow North America.
Apart from industrial applications, wastewater management and water management sectors have a huge potential for growth in near future. Municipal wastewater managing bodies from UK, US and Germany are promoting these technologies, which is expected to open new business avenues.
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