Wearable Computing Industry, Demand, Growth, Key Opportunities, Key Players and Industry Analysis By 2023

Wearable Computing Industry

The global tilt sensor market is highly lucrative and predicted to witness a notable growth at a 7.42% CAGR over the forecast period (2018-2023), reveals the Market Research Future (MRFR) report. A tilt sensor simply put, is an instrument, which is used to measure the tilt in various axes of a reference plane. It measures the tilting position based on gravity and is used in different applications. The key difference between inclinometers and tilt sensors is that the later only generates a signal, but the former generates both a signal and readout.

Tilt sensors are extensively used in construction and mining instruments such as structural monitoring system, stationary and mobile cranes, and drilling machines. It is also used to measure tilt and slope within a limited range of motion. Tilt sensors have a wide range of applications including telecommunication, automotive, defense, aerospace, construction, mining, and more. Simplicity, compactness, accuracy, high resolution, cost-effectiveness, and low power consumption are some of the key benefits of using tilt sensors.

Fascinating Features Driving Market Growth

In accordance to the Market Research Future report, there are a couple of factors that are driving the tilt sensor market growth. These include increasing use in the mining and construction equipment, increasing acceptance of non-metallic materials in various end user industries, and high implementation of tilt sensors in the gaming sector. Additional factors pushing the market growth include a rise in urbanization, increasing number of construction activities, especially in emerging economies, increase in real estate, increase in industrialization, and large-scale investments made for infrastructural development.

On the contrary, the complexity of technology, coupled with an increase in the cost of raw materials are factors that are likely to hamper the tilt sensor market growth over the forecast period.

Segmentation

The Market Research Future report provides an inclusive analysis of the tilt sensor market based on type and application.

Based on type, the tilt sensor market is segmented into optional based tilt sensors, proportional tilt sensors, and switch-based tilt sensors. Of these, the switch-based tilt sensor will have the largest share in the market over the forecast period.

Based on application, the tilt sensor market is segmented into aviation, gaming, robotics, transport, automobile, construction, mining, and others. Of these, the aviation segment will dominate the market over the forecast period.

North America to Stay at the Fore

By region, the tilt sensor market covers growth opportunities and latest trends across the Asia Pacific (APAC), North America, Europe and Rest of the World (RoW). Of these, North America will stay at the fore over the forecast period. It is predicted to touch USD 9.57 million at a 5.34% CAGR. This is owing to increasing demand and higher usage of tilt sensors in various applications in major end-use industries. Companies are adopting mergers and partnership strategies to target product innovations and untapped markets.

The tilt sensor market in Europe will have the second largest share in the market over the forecast period owing to higher hygiene and safety concerns in the region.

The tilt sensor market in Asia Pacific is predicted to grow at the fastest pace over the forecast period. This is owing to the growing presence of key end use industries, especially in developing nations such as India and China, and the rapidly developing industrial base. India, Japan, and China are the key contributors here. Moreover, this region is home to various prominent automotive and transportation, aerospace and defense, and mining and construction companies. This is another factor that is driving the market growth in this region. Besides, a number of leading market players are based in the Asia Pacific region, which is predicted to have a positive effect on the growth of the market.

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Wearable Computing Market Research Report | MRFR

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