Pressure sensors are used in many industries, and the use of microelectromechanical systems (MEMS) technology in pressure sensors is expected to further widen the application scope. This can be attributed to the benefits offered by MEMS, including reduced cost and power consumption, as well as high performance and miniaturization. Pressure sensors have to be used in Tire Pressure Monitoring Systems (TPMS) which was made mandatory by the U.S. government, which has contributed significantly to product demand. Additionally, growing number of vehicles on a global level is also expected to be a key driving force for the market.
Automotive was the largest market segment in 2012, wherein applications include brake sensors for electronic stability control systems, side airbags, tire pressure, exhaust gas recirculation pressure, barometric pressure, gasoline direct-injection systems, etc. Consumer electronics is also expected to be a fast growing application, with pressure sensors being incorporated in smartphones for indoor navigation, measuring altitude as well as for global positioning systems (GPS). In the medical sector, growth is expected to be driven by blood pressure monitoring devices and other health monitoring gadgets, mainly due to reducing form factors. Estimated reduction in prices is expected to accelerate market growth over the next few years. In terms of product segments, piezoresistive and capacitive sensors have dominated the market; optical sensing technology is expected to pick up speed in the years to come. The significant number of pressure sensors used in aircrafts is expected to drive the military and aerospace segment.
Asia Pacific is expected to remain the highest revenue generator through the forecast period. This is mainly on account of growth in application sectors and increasing demand from countries such as India and China. High capital investment for production facilities and effective strategies to sustain in the intense competition are among a few requirements for market entry aspirants. Industry participants have been focusing on research and development activities in order to deliver innovative products spanning numerous end-use industries. Major market players include ABB Ltd., Analog Devices, Bosch, Delphi Corporation, Freescale Semiconductor Ltd., General Electric, Infineon, Siemens AG, STMicroelectronics N.V., and Emerson Electric Company among others.
This report, by Grand View Research, takes a closer look at the pressure sensors industry, providing a holistic perspective on market dynamics, trends, supply and demand. The report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as micro level. The study aims at providing granular information, regarding estimates and forecasts for key product segments including piezoresistive, capacitive, electromagnetic, optical, and other sensors, as well as for applications including automotive, medical, consumer electronics, military and aerospace, industrial, and others. The report also provides the same level of information for key regional markets.
This research report analyzes various factors which have been driving and inhibiting the global pressure sensors market in the past. In addition, the report analyzes the impact of each driver and restraint on the market growth, which forms the base for market forecast. The report also showcases the opportunities available in the market which may act as future drivers for the market.
This report by Grand View Research provides complete market estimates and forecasts up to 2020. The study also explains in detail various market dynamics including key drivers, restraints, growth opportunities and competitive landscape. Key questions answered by the report include:
- What is the current market size and what are the future growth prospects of the market
- What are the key applications in the market and what is their future potential
- What are the factors driving market growth and what are the key challenges for participants in this industry
- How will key regional markets perform up to 2020
- What is the competitive scenario in the market, which companies are expected to lead the market over the next six years