New York , Feb. 29, 2024 (GLOBE NEWSWIRE) -- The global tilt sensor market size is predicted to grow at a CAGR of over 9% from 2024 to 2036. The market is projected to garner a revenue of USD 797 Million by the end of 2036, up from a revenue of USD 260 million in the year 2023. The market growth is attributed to the numerous applications of intelligent sensors to record sensing data and the requirement of their applications in the Internet of Things (IoT). The integration of sensors in the devices is soaring across the world owing to its benefits which are estimated to proliferate the market size. Over 48 billion connected sensors are deployed across the world for 15 billion IoT devices present as of 2023.
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Furthermore, the rising utilization of tilt sensors that provide data on tilting of the objects is predicted to hike the market growth. The association of 3D technology in printing robots and industrial robots improves the quality of the end product giving a remarkable result with more accuracy is driving the market size. As of 2024 data, there were nearly 3.5 million industrial robots worldwide.
Tilt Sensor Market: Key Takeaways
- Market in Asia Pacific region to propel the highest growth.
- The Automotive & Transportation segment to garner the highest growth
- Market in North America region to grow at the highest rate
Escalating Number of Construction Equipment with Advanced Technology is Fueling the Growth of the Tilt Sensor Industry
The growth of the market in the coming years is credited to the growing demand for advanced equipment in the construction sector. The tilt sensors promote safety measures and sustainability in the building industry by analyzing the tilt angle of the machinery that is used in the construction. Besides, tilt sensors are incorporated into the mining industry which is soaring the progression of the market. The use of advanced equipment in the construction sector is estimated to improve the sustainability of the project as per more than 80% of the architects in 2023.
Tilt Sensor Industry: Regional Overview
The global tilt sensor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Soaring Mining Industries and Demand for Iron and Steel is Aggregating the Market Growth in the Asia Pacific Region
The Asia Pacific region market of tilt sensors is assessed to hold a strong foothold with a market share of 30% during the forecast period as a result of flourishing demand for iron and steel. The demand for steel in China is predicted to reach 2% reaching 940 million tons in 2023. The presence of many mining and metal sectors run by both private and government agencies is approximated to boost the market size. Further, the rate of population growth is spreading the use of personal vehicles and the use of metals which is likely to impact the positive growth of the market.
Surge in the Health Expenditure and Construction Sector is Shooting Up the Market Expansion in the North America Region
The market in the North American region is outlined to secure a market share of 28% by the end of 2036 as a consequence of the soaring construction sector. In 2023, from January to June in the United States about 920000 construction structures were established as per the reports. The use of tilt sensors in end-user sectors for health monitoring, oil drilling, and instrument leveling is fostering the demand for the market.
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Tilt Sensor Market Segmentation by End-user
- Mining & Construction
- Aerospace & Defense
- Automotive & Transportation
- Telecommunication
The automotive & transportation segment of the market is projected to garner a significant market share of 35% owing to the increasing usage of tilt sensors in the automobile industry. The rising use of automobiles and a growing number of automobile manufacturers are expected to hike the market segment size. Automotive sales worldwide in 2023 contributed to over 20% of the retail sales as per the estimations.
Tilt Sensor Market Segmentation by Technology
- Force Balance
- MEMS
- Fluid Filled
The MEMS segment from the market is envisaged to register a second largest market share of 50% during the forecast era. The easy installation, compact size, and inbuilt signal conditioning features of MEMS sensors are reckoned to intensify the market segment trends in the coming years. The rising use of MEMS sensors in automobile industries is projected to dominate the market segment growth. The demand for advanced features in modern cars nowadays contains over 100 MEMS sensors as of 2022 reports.
Tilt Sensor Market Segmentation by Housing Material Type
- Metal
- Non-Metal
A few of the well-known market leaders in the global tilt sensor market that are profiled by Research Nester are Aceinna Inc., IFM Electronic GmbH, Inertial Labs, Sensata Technologies, Sick AG, TE Connectivity, Pupperl+Fuchs Vertrieb GbH & Co.Kg, Balluf GmbH, Level Developments Ltd., Gefran Group, and others.
Recent Development in the Market
- Aceinna Inc. declared a solution for attaining a precise position in autonomous vehicles with the invention of INS401 INS and GNSS/RTK sensors. The INS401 adds to the new portfolio of the company with high accuracy and integrity localization. The inventions help the manufacturers and developers of advanced driver assistance systems (ADAS) and autonomy solutions for various vehicle types.
- Inertial Labs, developer and supplier of inertial navigation, orientation, and optically improved tilt sensor modules has acquired MEMSENSE to develop a new tilt sensor for GOOS-denied navigation, aerospace, industrial machines, and defense sectors.
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