Global Pressure Sensor Market provides a brief and detailed knowledge about key players, market state and circumstances that are covered deeply in this report. The business chain supporting the Pressure Sensor market is analysed in detail covering accurate information about aspects such as the industrial chain, proficiency in utilization of the available capacity of manufacture, and industry strategies that affect the market.
Pressure Sensor Market
study offers an exhaustive summary of the vendor landscape, competitive
analysis, and key strategies to gain ruthless advantage. Pressure Sensor Market
Forecast provides sizing and growth opportunities. It provides comprehensive
insights on the latest industry trends, forecast, and growth drivers in the
market. it also includes a detailed analysis of growth drivers, challenges, and
investment opportunities and delivers a complete overview of segments and the
regional outlook of the market.
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The global Pressure Sensor Market is expected
to reach USD 11.91 billion by 2025. A pressure sensor can be defined as a
device that is used to sense pressure changes and translate it into an
electrical signal, that can be moderated depending on the strength of pressure.
Factors, such as advancements in MEMS & NEMS technologies for various
applications, increase in use of pressure sensors in automotive industry. In
addition, favorable regulations for use of pressure sensors and increase in
demand for pressure sensors in consumer electronics are likely to drive the
pressure sensor industry in the forthcoming period.
On the other hand, intense pricing pressure
is anticipated to hinder pressure sensor market growth in the future. However,
the increasing demand for pressure sensors in numerous applications is likely
to create lucrative opportunities for the market. Pressure sensor industry is
anticipated to expand at a significant CAGR in the upcoming period as the
scope, product types, and its applications are increasing across the globe.
Pressure sensors market is segmented by type,
product type, application and geography. The market is segmented by type as
Resonant Solid State, Piezoresistive, Capacitive, Electromagnetic, Optical and
Others. The “Piezoresistive” segment accounted for a prominent share in the
market. It is likely to witness substantial growth in the years to come. The
key factors that could be attributed to the growth of market include increasing
use of MEMS sensors in wearable devices and consumer electronics is boosting
market growth.
Based on product type, the pressure sensors
industry is segmented by Gauge Pressure Sensors, Absolute Pressure Sensors, and
Differential Pressure Sensors. The “Absolute Pressure Sensors” segment
accounted for a prominent share in the market. It is likely to witness
substantial growth in the years to come. The key factor that could be
attributed to the growth of market includes increasing demand in industrial
applications for the measurement of vacuum levels.
The key applications are segmented in the
pressure sensor market include Oil & Gas, Consumer Electronics, Industrial
Applications, Automotive, Medical, and Others. The “Consumer Electronics”
segment accounted for a prominent share in the market. It is likely to witness
substantial growth in the years to come. The key factors that could be
attributed to the growth of market include rising use of MEMS devices in
wearable devices and consumer electronics is boosting the segment growth. The
Consumer electronics segment is followed by the Automotive sector in the
forthcoming period.
North America is a leading region in the
market. It is likely to maintain a dominance in the forecast period owing to
factors, such as increasing awareness about the advantages of automated systems
and growing deployment of automated retrieval and storage systems (ASRS),
presence of several semiconductor establishments, sensor manufacturers, and
foremost system suppliers in North American countries. North America is
followed by the Asia-Pacific region.
Key players operating in the pressure sensor
industry include ABB Ltd, Emerson Electric Co., Analog Devices, Inc., Robert
Bosch Gmbh, Delphi Automotive Plc, Denso Corporation, Honeywell International
Inc., NXP Semiconductors, N.V., Damco Corporation, and Schneider Electric. The
leading companies are involved in partnerships, mergers and acquisitions, and
joint ventures in order to boost the inorganic growth of the industry.
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