Technology & Telecommunications

According to a market report by Lucintel, the future of the global sensor cable market looks promising with opportunities in the material handling, automotive, infrastructure, IT & telecommunication, oil & gas, and energy & utility markets. The global sensor cable market is expected to reach an estimated $1.0 billion by 2028 with a CAGR of 8.5% from 2023 to 2028. The major drivers for this market are increasing adoption of renewable energy, growing trend of IoT and wearable devices, on-going advancements in the robotics technology and rapid development of smart cities in the developing countries.



In this market, strain monitoring, power cable monitoring, heat & temperature sensing, acoustic sensing, and leak detection are the different segments of sensor cable market by application. Lucintel forecasts that leak detection will remain the largest segment over the forecast period due to increasing leakage incidents caused by corrosion and cracks along with growing concern towards environmental damages created by hazardous gas and oil leaks in oil and gas industry.



Within this market, automotive will remain the largest segment due to growing usage of vehicles along with increasing demand for new technologies, such as automatic parking, lane keep assists, automatic emergency braking, and lift gates in the automotive industry.



APAC will remain the largest region over the forecast period due to rapid industrialization, rising demand for electronics, power cable monitoring, and material handling, and increasing demand of consumer electronics in leading markets, such as China, India, Japan, and South Korea in this region.

TE Connectivity, Pepperl+Fuchs, Schneider Electric, Belden, Lapp Group, Hans Turck, Baumer, Beckhoff Automation, SAB BRÖCKSKES, and TTI are the major suppliers in the global sensor cable market.  



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global sensor cable market by connector type, application, end use industry, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Sensor Cable Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global sensor cable market by connector type, application, end use industry, and region, as follows:

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the global sensor cable market by connector type (flanges, plugs, and sockets), application (strain monitoring, power cable monitoring, heat & temperature sensing, acoustic sensing, leak detection, and others), end use industry (material handling, automotive, infrastructure, IT & telecommunications, oil & gases, energy & utilities, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?