Global Industrial Transmitters Market 2018-2022 | Declining Cost of Sensors Drives Growth | Technavio
LONDON--(BUSINESS WIRE)--Sep 18, 2018--The global industrial transmitters market is expected to post a CAGR of close to 6% during the period 2018-2022, according to the latest market research report by .
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Technavio has published a new market research report on the global industrial transmitters market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the industrial transmitters market growth is the declining cost of sensors and transmitters. The decrease in sensor prices had led to its increased adoption in the manufacturing industries. End-users have been employing sensor-based IoT solutions to track assets in factories. With the reduction in the cost of sensors, there will be an increased implementation in the manufacturing process to gain better insights, reduce maintenance costs, and increase operational efficiency.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the advances in transmitter technology as one of the key emerging global industrial transmitters market trends:
Global industrial transmitters market: Advances in transmitter technology
Many technological advances have been made in the global industrial transmitters market, which has led to the adoption of new technologies such as piezo-resistive and capacitive strain gauges in pressure transmitters. Wireless transmitter technologies have also adopted new techniques such as enhanced electrostatic discharge protection to avoid signal/data disruption in hazardous environments.
“The implementation of IoT allows the development of smart factories. This can assist in increasing the productivity, provide high throughput, and reduce inventory levels. Thus, with the advances in transmitter technology, there is a positive outlook for the industrial transmitters market over the forecast period,” says a senior analyst at Technavio for research on automation.
Global industrial transmitters market: Segmentation analysis
This market research report segments the global industrial transmitters market by product (flow transmitters, level transmitters, pressure transmitters, general purpose transmitters, and temperature transmitters), end-user (oil and gas, chemical and petrochemical, power, and water and wastewater), and geography (the Americas, APAC, and EMEA).
The flow transmitters segment held the largest market share in 2017, accounting for over 32% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with approximately 37% of the market share, followed by APAC and EMEA respectively. The Americas is expected to dominate the market throughout the period 2018-2022.
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 LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 09/18/2018 01:45 PM/DISC: 09/18/2018 01:45 PM