Global Statistics Representing Pressure Sensor Market Scenario
A pressure sensor is a device geared up with a pressure-sensitive component that measures the pressure of the gas or liquid against a diaphragm made of stainless steel and silicon, among others and converts the measured value into an electrical signal as an output. For measurement targets such as liquids, gases, flammable substances, and corrosive substances, different sensor materials such as silicon, ceramic, and metal are used. A pressure sensor provides data that may be used to assess physiological function, diagnose diseases, and provide appropriate treatment regimens. These sensors are fairly accurate and stable, offer standardized output and good linearity, and exhibit low self-heating.
Government regulations aimed towards enhancing passenger safety and increasing adoption in consumer goods and wearable devices are the key factors surging the demand for pressure sensors in different applications. Increasing use of pressure sensor devices in consumer electronics such as smartphones, watches, and tablets is also contributing to market growth. For instance, the LPS331AP MEMS pressure sensor from STMicroelectronics is a pressure sensor used in consumer applications; it is designed to capture information from the sensing element and give out a digital signal to the external world. Further, increasingly stringent government laws and regulations regarding passenger safety in automobiles are expected to boost market growth during the forecast period. For instance, the U.S. government passed the TREAD Act, which mandates every new vehicle sold in the U.S. to be outfitted with a tire pressure monitoring system. Increasing demand for pressure sensors in various applications such as automotive, medical, and oil and gas is also propelling market growth.
An emerging trend in the pressure sensor market is the development of implantable pressure sensor systems and nanoelectromechanical pressure sensor systems.
The global pressure sensor market is expected to grow at a CAGR of 5.5% during the forecast period (2019–2026) to attain a value USD 11.92 billion by 2026.
The global pressure sensor market can be segmented on the basis of type, technology, product type, and end-use industry.
On the basis of type, the market can be segmented into wired pressure sensors and wireless pressure sensors. By technology, the market can be segmented into piezoresistive, electromagnetic, resonant, solid state capacitive, and optical. On the basis of end-use industry, the market can be segmented into automotive, industrial, healthcare, electronics, and others.
Rising demand for smart programs as such trip optimizers, which make use of various sensors, would further add to the market growth, especially in the U.S. Technologies such as prognostics would enhance consumer experience as they would help monitor real-time data via the internet. The existence of multiple semiconductor companies, sensor manufacturers, and top system suppliers in North American countries further propels demand in the region.
Countries contributing to the Europe pressure sensor market include the France, U.K., Italy, and Germany. The U.K. is on top of the European pressure sensors market, followed by Germany. Increasing demand for smart technologies in emerging economies such as China, South Korea, and India is predicted to spur the regional demand for these markets. The growth of the industrial sector in Brazil is expected to be a major driver for market growth in Latin America.
Panasonic Corporation, ABB Ltd, Bosch, Analog Devices Inc., Honeywell International, Delphi Automotive PLC, Infineon Technologies, Emerson Process Management, Freescale Semiconductor, and Freescale Semiconductor Ltd. are some of the noteworthy players operating the global smart card market.
Key Target Audience
Pressure Sensor Market: Segmentation
By End Use Industry
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This report offers key insights pertaining to the pressure sensor market with attention on recent developments across geographies and development strategies endorses by prominent market participants. The sections mentioned below have specifically been included in the report.