Global Industrial Inclination Sensors Market 2018-2022 | New Safety Regulations Pertaining to MEWPs to Boost Growth | Technavio

Technavio has published a new market research report on the global industrial inclination sensors market from 2018-2022. (Graphic: Business Wire)

LONDON--()--Technavio analysts forecast the global industrial inclination sensors market to grow at a CAGR of over 8% during the forecast period, according to their latest market research report.

The new safety regulations pertaining to inclination sensors and MEWPs is one of the major trends being witnessed in the global industrial inclination sensors market 2018-2022. A MEWP is a vehicle that lifts a person to a specified position. Bucket lifts, scissor lifts, boom lifts, and vehicle-mounted boom buckets are considered as MEWPs. In 2017, the SAIA released the ANSI A92.20/22/24, which is the North American standard for MEWPs and tilt sensors.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

According to Technavio analysts, one of the key factors contributing to the growth of the global industrial inclination sensors market is the falling price of industrial sensors:

Global industrial inclination sensors market: Falling price of industrial sensors

The increase in the adoption of inclination sensors in the industrial sector is primarily driven by the need to reduce the cost. The installation of industrial inclination sensors not only takes less time but also costs less due to the technological advances and easy assembling options that sensor manufacturers provide to the users.

According to a senior market research analyst at Technavio, “The cost of sensors has been declining continuously, which indicates the competition among the providers of hardware. The market revenue is expected to increase as the competition prevailing among the major manufacturers of sensors and service providers of IoT products is increasing.”

Global industrial inclination sensors market: Segmentation analysis

The global industrial inclination sensors market research report provides market segmentation by product (force balanced inclination sensor, fluid-based inclination sensor, and MEMS-based inclination sensor), by end-user (mining and construction industry, automotive and transportation industry, aerospace and defense industry, and telecommunications industry), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Of the four major end-users, the mining and construction industry segment held the largest market share in 2017, contributing to over 29% of the market. This end-user segment is anticipated to dominate the global market throughout the forecast period.

APAC held the largest share of the market in 2017, accounting for over 37% share. It was followed by EMEA and the Americas respectively. APAC is expected to dominate the global market through the period 2018-2022.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

Technavio analysts forecast the global industrial inclination sensors market to grow at a CAGR of over 8% during the forecast period, 2018-2022.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com