Increase in demand for pressure sensors for various applications fosters the market growth globally and is estimated to increase further during the forecast period. The competitive advantages of pressure sensors over conventional alternatives have also been described in the report. Pressure sensors have a wide range of applications in automobiles such as cabin pressure, fuel & ignition, exhaust, and thermal & powertrain systems. These sensors have ample opportunities in consumer electronics such as in smartphones, tablets, and wearable devices, which will boost the market growth of pressure sensors.
The scope of the report discusses the potential opportunities for the market players to enter the pressure sensor market. This report also provides in-depth analysis of the market, outlining current trends, key driving factors, and key area of investment. The report includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. It features the strategies adopted by the key market players to maintain their foothold in the market.
Factors such as increase in use of pressure sensors in the automotive industry, rise in demand for pressure sensors in consumer electronics, and favorable government regulations regarding the use of pressure sensors drive the growth of the global pressure sensor market. However, high cost of the devices is expected to hamper the market growth to a certain extent. Furthermore, A surge in trends towards internet of things (IoT) and an increase in demand for sensors in the development of smart cities are expected to offer lucrative opportunities for the growth of the pressure sensor market.
The pressure sensor market is segmented into type, technology, application, and region. By type, the market is divided into absolute pressure sensors, gauge pressure sensors, and differential pressure sensors. By Technology, it is classified into piezoresistive, electromagnetic, capacitive, resonant solid state, optical, and others. By application, it is categorized into automotive, oil & gas, consumer electronics, medical, industrial, and others. By Region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key pressure sensor market leaders profiled in the report include ABB Ltd., Analog Devices, Eaton, Honeywell, Infineon Technologies, NXP Semiconductors N.V., Renesas Electronics, Siemens, STMicroelectronics, and Texas Instruments. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration.
KEY BENEFITS FOR STAKEHOLDERS
GLOBAL PRESSURE SENSOR MARKET SEGMENTATION
BY TYPE:
By Technology
BY APPLICATION
By Region
The scope of the report discusses the potential opportunities for the market players to enter the pressure sensor market. This report also provides in-depth analysis of the market, outlining current trends, key driving factors, and key area of investment. The report includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. It features the strategies adopted by the key market players to maintain their foothold in the market.
Factors such as increase in use of pressure sensors in the automotive industry, rise in demand for pressure sensors in consumer electronics, and favorable government regulations regarding the use of pressure sensors drive the growth of the global pressure sensor market. However, high cost of the devices is expected to hamper the market growth to a certain extent. Furthermore, A surge in trends towards internet of things (IoT) and an increase in demand for sensors in the development of smart cities are expected to offer lucrative opportunities for the growth of the pressure sensor market.
The pressure sensor market is segmented into type, technology, application, and region. By type, the market is divided into absolute pressure sensors, gauge pressure sensors, and differential pressure sensors. By Technology, it is classified into piezoresistive, electromagnetic, capacitive, resonant solid state, optical, and others. By application, it is categorized into automotive, oil & gas, consumer electronics, medical, industrial, and others. By Region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key pressure sensor market leaders profiled in the report include ABB Ltd., Analog Devices, Eaton, Honeywell, Infineon Technologies, NXP Semiconductors N.V., Renesas Electronics, Siemens, STMicroelectronics, and Texas Instruments. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration.
KEY BENEFITS FOR STAKEHOLDERS
- This study includes the analytical depiction of the pressure sensor market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information regarding the key drivers, restraints, and opportunities in the market.
- The pressure sensor market growth is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
GLOBAL PRESSURE SENSOR MARKET SEGMENTATION
BY TYPE:
- Absolute Pressure Sensors
- Gauge Pressure Sensor
- Differential Pressure Sensors
By Technology
- Piezoresistive
- Electromagnetic
- Capacitive
- Resonant Solid State
- Optical
- Others
BY APPLICATION
- Automotive
- Oil and Gas
- Consumer electronics
- Medical
- Industrial
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Pressure Sensor Market, by Type
Chapter 5: Pressure Sensor Market, by Technology
Chapter 6: Pressure Sensor Market, by Application
Chapter 7: Pressure Sensor Market, by Region
Chapter 8: Competitive Landscape
Chapter 9: Company Profiles
Executive Summary
According to the report titled, 'Pressure Sensor Market by Type, Technology, and Application: Opportunity Analysis and Industry Forecast, 2020-2027' the global pressure sensor market size was valued at $11.38 billion in 2019, and is projected to reach $24.84 billion by 2027, registering a CAGR of 10.3% from 2020 to 2027.Increase in demand for different types of sensors, especially in autonomous cars, is expected to drive the pressure sensors market growth during the forecast period. Advanced technologies and innovations such as Advanced Driver Assistance Systems (ADAS) and Emission Control Sensors are expected to open new opportunities for the pressure sensors market in the automotive industry.
market growth of emission control sensors (ECS) is expected to increase with the emergence of strict regulations such as EURO VI, NS VI, and BS VI. The surge in demand for sensors for dashboard and diagnostic purposes foster the growth of the pressure sensors market during the forecast period.
Asia-Pacific and North America are expected to offer lucrative market growth opportunities during the forecast period. India and China are anticipated to grow at a rapid pace at a CAGR of 8.0% and 12.0%, respectively.
Technological advancements, high per capita income, and early introduction to automation are the key factors drive the growth of the North America smart sensors market. The pressure sensors market is projected to grow at a decreasing rate driven mainly by its demand in the consumer electronics, automobile, aerospace, defense, and medical industries. Pressure sensors have become an essential component in a variety of products and are uncontested by substitutes owing to their integral functionality.
According to pressure sensor market trends, the U.S. is the fastest adopter of technology owing to which the growth of the consumer electronics device, upcoming automobile technology such as electric & hybrid vehicles, healthcare monitoring systems, and others is high. Increase in disposable income of the people in the U.S. drives the sale of sensors in this region. In addition, growth in the semiconductor industry, paired with the rise in trends of advanced devices among industries propel the growth of the U.S. pressure sensor market share.
Europe is anticipated to witness a high growth rate for the sensors market during the forecast period due to rise in its demand in aerospace & defense across the region. Technological advances across the region propels the growth of the market. High frequency RF-MEMS pressure sensors are incorporated into different types of consumer electronic devices such as smartphones, wearable devices, and tablets to perform different operations precisely. The consumer electronics market is expected to increase due to its extensive use in smartphones.
According to pressure sensor market forecast, Asia-Pacific emerged as the fastest growing market for pressure sensors. India, China, and Japan provide several opportunities for key players in this market. The growth in these countries is supported by the rise in disposable income of consumers and increase in number of health-conscious consumers. The region accommodates major population of the globe due to the presence of China and India being the topmost populated nations. Increase in penetration of smartphones and adoption of smart electronic appliances in residential, commercial, and industrial sectors in Asia-Pacific are the factors expected to propel the pressure sensor market growth.
Key Findings of the Study:
By type, the absolute pressure sensor segment generated the highest revenue in 2019.
By technology, the piezoresistive segment generated the highest revenue in 2019.
By application, the automotive segment generated the highest revenue in 2019.
The key pressure sensor industry leaders profiled in the report include ABB Ltd., Analog Devices, Eaton, Honeywell, Infineon Technologies, NXP Semiconductors N.V., Renesas Electronics, Siemens, STMicroelectronics, and Texas Instruments
Companies Mentioned
- ABB Ltd.
- Analog Devices
- Eaton
- Honeywell
- Infineon Technologies
- NXP Semiconductors N.V.
- Renesas Electronics
- Siemens
- STMicroelectronics
- Texas Instruments.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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