New Computer Technology market report from Markets and Markets: "Global Pressure Sensor Market (2012 - 2017) Forecast, Trend & Analysis - Segmentation by Technology [Piezoresistive, Capacitive, Electromagnetic (Reluctance), Resonant Solid State, Optical], Applications [Process & Non process] & Geography"
Boston, MA -- (SBWIRE) -- 11/13/2012 -- Pressure sensors are expected to show good growth as they are widely used across different application segments. Currently, the market is dominated by piezoresistive and capacitive sensors but we predict strong growth of optical sensing technology as well in future due to their applications in hazardous environments. Piezoresistive sensors are heavily used in automotive and medical applications while capacitive sensing is highly recommended in the process and petrochemical and oil and gas industries.
Due to improved sensitivity, pressure sensors are used for a variety of applications such as petrochemicals, automotive segments, consumer electronics, utilities, and industrial segment. There has been a growth in the automotive industry that uses pressure sensors to a greater extent from applications such as TPMS (Tyre Pressure Monitoring System), engine management to monitoring of air volume, exhaust gas pressure of EGR system. Acceptance of pressure sensors in many application segments will add on to their consumption in the future. Safety-related mandates in regions like North America and Europe are acting as a driver to the growth of these sensors.
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Technological advancement is opening new doors to the growth of pressure sensors for automotive and medical applications. Penetration of MEMS technology in pressure sensing is expected to play a lead role in the overall market in the future. Sensors based on this technology are extensively used in medical and automotive applications due to their smaller form factor.
The market size of pressure sensors in the year 2011 was $5.11 billion and is expected to reach $7.34 billion units by 2017, at an estimated CAGR of 6.3%. In terms of volume the unit shipment for pressure sensors was 8.7 billion units in the year 2011 and is expected to reach 16.37 billion units by 2017, at an estimated CAGR of 11.3% from 2012 to 2017.
Pressure sensor market is triggered due to a lot of factors. Vehicle production in emerging markets, government regulations, gradual reduction in size, and the fast growth of Asian economies are acting as drivers to the pressure sensor market. Pricing and maturity of critical end-user segments act as restraints to this market while advancements in ICT technology and nanotechnology applications are the future opportunities for pressure sensor market.
Scope of the report
This research report categorizes the global pressure sensor market on the basis of different technologies used in sensors, the applications for which the sensors are used and geographical analysis; forecasting revenue and analyzing trends in the pressure sensor market.
On the basis of technology
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