Global Fluid Sensors Market is expected to generate revenue of $ 17,354.9 million by 2028, growing at a CAGR of 8.1% from 2021 to 2028

NEW YORK, September 20, 2021 / PRNewswire / – Research Dive has added a new report to its offering indicating that the Global Fluid Sensors Market should generate a turnover of $ 17,354.9 million by 2028, growing exponentially at a 8.1% CAGR during the forecast period (2021-2028).

Market dynamics

The availability of modern measurement technologies such as optical sensing, capacitive sensing, tuning fork, ultrasonic sensors and many more are expected to drive the market growth during the forecast period. In addition, the growing emphasis on industrial automation among people is expected to further boost the market growth by 2028. However, the sky-high expenses associated with the deployment of fluid sensor technology are expected to dampen growth. market in the near future. Moreover, the growing importance and adoption of Industrial Internet of Things (IIoT) is expected to create remarkable opportunities for market growth during the forecast period.

Download Sample PDF Report of Fluid Sensors Market

Impact of COVID-19 on the market

The COVID-19 outbreak has affected the global fluid sensor market negatively, due to the prevalence of blockages in various countries around the world. The lockdowns have resulted in the shutdown and closure of all industrial activities, in order to curb the spread of the virus. This closure significantly disrupted manufacturing and distribution channels, resulting in a decrease in demand for fluid sensors. Thus, the pandemic has had a negative impact on the growth of the market.

Get access to a comprehensive analysis of the impact of the Fluid Sensors market

Market segments

The report has divided the market into different segments based on type, technology, end user, and region.

• By Type, the Flow Sensors sub-segment is expected to be the most profitable and generate sales of $ 10,615.8 million over the forecast period. Flow sensors greatly reduce the work done on manual measurement methods and are widely used in industries such as automotive, chemical, oil and gas, and many more. These factors are expected to accelerate the growth of the sub-segment during the forecast period.
• By technology, the contactless sensor segment is expected to have the largest market share and generate revenue of $ 10,216.5 million by 2028. Non-contact sensors are widely used for measuring fluid temperature, volume and velocity. This factor is expected to support the growth of the sub-segment during the forecast period.
• By end-user, the power generation sub-segment is expected to be the most lucrative and generate income of $ 4,149.2 million over the forecast period. Increasing demand for electricity in industries is expected to drive the growth of the sub-segment during the forecast period.
• By region, the Asia Pacific region is expected to dominate the market and generate revenue from $ 6,126.3 million by 2028. Increasing industrial production rate and booming economic development in the region are expected to accelerate market growth during the forecast period.

Competitive intelligence on the fluid sensors market players in the Asia Pacific region – Get a special 20% discount available on a * first come, first served basis

Top 10 key players in the fluid sensors market

1. Emersion Electric Company
2. Siemens
3. Schneider Electric
4. Rockwell Automation
5. ABB
6. Honeywell
7. NXP semiconductors
8. Robert Bosch GmbH
9. SICK AG
10. Texas instruments

Educate yourself and get quick access to the summary report of the best business development strategies

These players work on developing strategies such as product development, mergers and acquisitions, partnerships and collaborations to support market growth.

For example, in July 2019, CEVA, the leading licensor of signal processing platforms and artificial intelligence processors, has acquired Hillcrest Laboratories, Inc., a leading global supplier of software and components for processing sensors in large devices. public and IoT, in order to extend and strengthen the intelligent and connected technology of CEVA portfolio with highly complementary sensor processing technologies.

The report also summarizes many important aspects including financial performance of key players, SWOT analysis, product portfolio and latest strategic developments.

Learn more about fluid sensors:

Related trending topics:

1. Humidity Sensors Market: Global Opportunity Analysis and Industry Forecast, 2019-2026 – Request to download a sample report
2. Oil Condition Monitoring Market: Global Opportunity Analysis and Industry Forecast, 2019-2026 – Request to download a sample report
3. 3D sensors market: Global Opportunity Analysis and Industry Forecast, 2019-2026 – Request to download a sample report

About the research dive

Research Dive is a market research company based in Pune, India. By maintaining the integrity and authenticity of the services, the company provides services only based on its proprietary data model, constrained by the 360-degree research methodology, which guarantees a complete and accurate analysis. With unprecedented access to several paid data resources, a team of expert researchers and a strict work ethic, the firm delivers extremely accurate and reliable information. By reviewing relevant press releases, government publications, decades of business data, and technical and white papers, Research Dive delivers the services it needs to its clients on time. His expertise is focused on examining niche markets, targeting its key driving factors and detecting threatening obstacles. Complementarily, he also maintains a transparent collaboration with the great aficionado of the industry, which offers an additional advantage to his research.

Contact:

Mr. Abhishek Paliwal
Research Dive
30 Wall Street 8th Floor, New York NY 10005
(T) + 91- (788) -802-9103 (India)
Toll free: 1-888-961-4454
E-mail: [email protected]
Website: https://www.researchdive.com
Blog: https://www.researchdive.com/blog/
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521

SOURCE research dive