A lead analyst at AMR highlighted that the fluid sensor market in Asia-Pacific is anticipated to grow at the fastest CAGR during the forecast period.
Allied Market Research published a research report on the fluid sensors market. The findings of the report states that the global market for fluid sensors generated $13.2 billion in 2021, and is projected to reach $25.4 billion by 2030, growing at a CAGR of 7.4% from 2022 to 2030. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.
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The report provides detailed insights on drivers, restrains, and opportunities to help the market players in devising several growth strategies. Significant surge in the demand for fluid sensors in the oil & gas industry for various applications such as tank level monitoring and oil quality testing, increase in need to manage the oil composition and environmental conditions in industries, and extensive applications of fluid sensors in various industries such as water & wastewater, chemical, power generation, food and beverage, and automotive are expected to drive the growth of the global fluid sensor market. On the other hand, high investment in the implementation of fluid sensor technology is expected to hinder the growth to some extent. However, rise in need for multi-level sensors for oil separation in oil drilling operations is expected to create remarkable opportunities for the growth of the industry.
“Asia-Pacific is expected to observe highest growth rate during the forecast period. Increase in demand for cloud, Internet of Things (IoT), and enhanced data rates for GSM evolution (EDGE) solutions generate large amounts of data, increasing the need for advanced technologies for data processing. This requirement for data processing is increasing the demand for data science platforms in the ASIA-PACIFIC. In addition, investments by leading tech companies fuel market growth across the region. Moreover, banks and telecom sectors have been the quickest adopters of big data analytics in Asia-Pacific and will remain so as they hope to profit from transactional, financial, and customer data”, says Rachita Rake – Senior Research Analyst, ICT at Allied Market Research.
Scope of the Report: –
| Report Attribute | Details |
| Revenue forecast in 2030 | $25.4 million |
| Growth rate | CAGR of 7.45% from 2022 to 2030 |
| Forecast period | 2022 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Regional scope | North America, Europe, Asia Pacific, Latin America, MEA |
| Country scope | U.S., Canada, Germany, U.K., France, Italy, Spain, Japan, China, India, South Korea, Australia, Brazil, Mexico, South Africa, Saudi Arabia |
| Key companies profiled | Schneider Electric, Siemens, ABB, Honeywell, Robert Bosch GmbH, Emersion Electric Company, SICK AG, NXP semiconductors, Texas Instruments, and Rockwell Automation Access Table PDF |
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The report provides a detailed scenario of the impact of the Covid-19 pandemic on the fluid sensors market globally. The outbreak of COVID-19 has had a negative impact on the growth of the global fluid sensors market, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns resulted in the closure of various manufacturing units, including those of fluid sensors due to the stringent restrictions imposed by the government to curb the spread of the virus during the pandemic. Thus, the demand for fluid sensors in end-use industries decreased subsequently. However, the market is expected to recoup soon.
The report offers a detailed segmentation on the global fluid sensor market based on type, technology, end user and region.
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Based on type, the flow sensor segment held the largest market share in 2020, due to rise in demand for advanced feature flow sensors in the petroleum and automobile industries. The level sensor segment, on the other hand, is expected to cite the fastest CAGR during the forecast period.
Based on end-user, the power and utility segment held the majority market share in 2020, due to the growing demand for electricity across the globe. The water and wastewater segment, on the other hand, is expected to exhibit the fastest CAGR during the forecast period.
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Based on region, the market across North America held the lion’s share in 2020. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR during the forecast period, due to the rapidly growing automobile and petroleum industries in the region.
The key players analyzed in the global fluid sensors market report include Schneider Electric, Siemens, ABB, Honeywell, Robert Bosch GmbH, Emersion Electric Company, SICK AG, NXP Semiconductors, Texas Instruments, and Rockwell Automation.
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