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The integration of level sensors with the Internet of Things (IoT) has transformed the way industries monitor and manage their processes. IoT-connected sensors provide real-time data on level measurements, enabling predictive maintenance and process optimization. They can send alerts and data to central control systems or the cloud, facilitating remote monitoring & control. This trend is driven by the desire for greater operational efficiency, reduced downtime, and improved decision-making based on data analytics.
The increasingly stringent environmental regulations require industries to monitor & manage their materials and processes more responsibly. Level sensors play a crucial role in ensuring compliance with the regulations by helping prevent overflows or leaks that could harm the environment. As a result, companies are investing in advanced level sensing technologies to meet the regulatory requirements and minimize their environmental footprint, reflecting the broader trend of sustainability and corporate responsibility in today's industrial landscape.
Asia Pacific recorded over 40% share of the level sensors market in 2022 and is expected to register commendable CAGR from 2023-2032 owing to the rapid industrialization and urbanization in the region.
The oil and gas end-use segment held over 20% share of the level sensors industry in 2022 on account of the surging need to ensure the safe storage & transportation of substances by preventing overflows and leaks.
Market size for level sensors size crossed USD 4 billion in 2022 and will register 7% CAGR from 2023-2032 due to the rising demand in process industries, such as chemical, oil & gas, pharmaceuticals, and food & beverage worldwide.
ABB Ltd., Emerson Electric Company, Endress + Hauser AG, Honeywell International, Inc., Siemens AG, Vega Grieshaber KG, and Magnetrol International, Inc. are some of the major level sensors companies worldwide.