Market Research Future (MRFR), in its latest “Tilt Sensor Market” report, states different factors that can affect the market dynamics. As per MRFR study, the tilt sensor global market can gain about USD 257.64 Mn value at 7.42% CAGR by 2023. The tilt sensor market can be benefitted by the high utility rate of tilt sensors in construction, mining, and gaming equipment. The increase in adoption of non-metallic materials across different verticals can contribute the tilt market expansion. The growing popularity of tilt sensors in MEMS technology can add momentum to their market growth. in tilt sensors is expected to boost the growth over the forecast period.
The tilt sensor market study is based on type and application. Segmental insights of tilt sensor market avail investors with right data to design investment strategies.
The type-based segments of the tilt sensor market are proportional tilt sensors, switch based tilt sensors, tilt sensors, and optical based tilt sensors. The sales of switch based tilt sensors can earn the market valuation of above USD 53.95 Mn by 2023. The rise in awareness about compactness, easy to use, less power consumption, convenience, and cost-effectiveness advantages of switch based tilt sensors can prompt the expansion of the market.
The application-based segments of the tilt sensor market are construction, mining, transport, automobile, gaming, robotics, and aviation. The rise in aviation end-use of tilt sensors can gain the market revenue of above USD 29.71 Mn by 2023. The rise in interest for more thrilling games among young populace is encouraging game developers to design as status quo. Moreover, the rise in traction for games can be attributed to hectic work schedule of people. The increased utility of tilt sensors in the game sector can boost the expansion of the market.
On the basis of type, the tilt sensor market has been segmented into proportional tilt sensors, switch based tilt sensors, and optical based tilt sensors. Among these, the switch based segment was valued at USD 52.95 Mn in 2017. It is anticipated to maintain its dominant position through the assessment period.
On the basis of application, the tilt sensor market has been segmented into construction, mining, automobile, robotics, gaming, transport, aviation, and others. Among these, the aviation segment is projected to dictate the expansion of the tilt sensor market in the coming years. The segment earned revenue worth USD 29.71 Mn in 2017. It is expected to garner a considerable amount of revenue in the years to come.
The regional segments of the global tilt sensor market profiled in this MRFR report for geographical evaluation are - Asia Pacific (APAC), North America, Europe and the Rest of the World (RoW). North America dominated the market in 2017 with a valuation of USD 7.44 Mn. It is projected to mark 7.43% CAGR over the assessment period and is presumed to touch USD 11.43 Mn mark by the end of 2023. It is observed that the rising applications of tilt sensors in the automotive and aviation industries are poised to prompt market growth in the region. Also, the strong economic development of the region is likely to support the growth of the gaming industry m this, in turn, is presumed to expand the tilt sensor market in the region.
The global tilt sensor market is expected to reach approximately USD 257.64 million by the end of…
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