Level sensors market size

The global level sensor market size reached US$ 3.8 billion in 2018 and is anticipated to reach around US$ 5 billion by 2025.

Analysis of level sensors Market

The level sensor market is driven by the increasing industrial manufacturing and processing sectors around the globe. The integration of the internet of things (IoT) and machine learning in level sensors has increased demand across various industries, leading to worldwide growth in level sensor markets. For instance, the evolution of the industrial internet of things (IIoT) and industry 4.0 is to spur the level sensor market.

In recent years there has been a significantly rising demand for the related process control and automation solution (such as sensors). The increasing process automation through various industrial applications also drives the market for level sensors. The need to improve industrial efficiency has led to the implementation of safe and reliable process control systems in several industries.

The level sensor also helps to measure reliable fluid levels, thereby reducing the risks to equipment in industrial production and processing. With a growing emphasis on process automation, many manufacturing companies are now concentrating on the production of smart sensing devices. These devices are intended to measure fluid accurately and to provide related analytical information.

Apart from this, the stable market growth in the power and utilities along with the oil and gas industries is also helping the level sensor market. The oil and gas industry requires the installation of level sensors in tanks and large containers to track fuel levels. The increase in energy and power dependency has also boosted the need for increased energy and power generation levels. This drives the energy and power sector towards improved performance automation, which in turn leads to a higher demand for level sensors.

In addition, another factor driving the market growth is continuous innovation in the design of sensors. The overall sensor industry has seen dramatic changes in recent years towards micro-electromechanical (MEMS) based sensors. It is suitable for applications including accelerometers and pressure sensors due to its smaller size and the ability to be tightly integrated with the related electronics. Certain MEMS types include gyroscopes, radiation, water, and mass flow sensors.

However, the level sensor market growth will be hindered by factors such as the lack of precision in level sensors, the increasing prices competition between suppliers to produce high-quality products, and the high cost of thin-film technology.