According to the recent study the pressure sensor market is projected to reach an estimated $16.5 billion by 2025 from $10.8 billion in 2019, at a CAGR of 7.4% from 2020 to 2025. Growth in this market is primarily driven by stringent government regulations for safety in the automotive industry, growth in consumer electronics, and increasing demand for microelectromechanical systems (MEMS) technology.
Browse 86 figures / charts and 67 tables in this 167 -page report to understand trends, opportunities and forecast in pressure sensor market by technology (piezoresistive, electromagnetic, resonant solid state capacitive, optical, and others), by end use industry (automotive, industrial, healthcare, electronics, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Piezoresistive market is expected to remain the largest segment during the forecast period.”
Based on technology, the pressure sensor market is segmented into piezoresistive, electromagnetic, resonant solid state capacitive, optical, and others. Lucintel forecasts that the piezoresistive market is expected to remain the largest segment over the forecast period due to increasing demand in aerospace and automotive industries. The optical technology is expected to witness the highest growth in the forecast period due to its increasing penetration in medical electronics and automotive applications.
“Within the pressure sensor market, the automotive segment is expected to remain the largest end use industry”
Based on end use industry, the automotive segment is expected to witness the largest installation type due to increasing usage of pressure sensors in the tire pressure monitoring, electronic stability controls, engine controls, and side airbags and electronics industry is likely to experience the highest growth over the forecast period due to growth in smartphones, tablets, household appliances, and wearable devices.
“Asia Pacific will dominate the pressure sensor market in near future”
Asia Pacific is expected to be the largest region and will experience the highest growth over the forecast period supported by increasing automotive production and growing consumer electronics industry.
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Major players of pressure sensor market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. ABB, Emerson Electric Co, Analog Devices., Denso Corporation, and Robert Bosch are among the major pressure sensor providers.
This unique 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 click on this link https://www.lucintel.com/pressure-sensor-market-2020-2025.aspx or [email protected]
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