Global pressure sensors market was valued at USD 6.53 billion in 2014, growing at a CAGR of 6.2% from 2014 to 2020.
Albany, NY -- (SBWIRE) -- 12/10/2015 -- Pressure sensors are typically used for measuring pressure of gas or liquids. These sensors usually act as a transducer and generate electrical signals as a function of the pressure imposed on them. Pressure sensors are also indirectly used for measuring other variables such as gas/fluid flow, water level, speed and altitude. With technological advancements in several industry verticals such as automotive, healthcare, and oil and gas, the applications and functionalities of pressure sensors is evolving continuously. Modern day pressure sensors utilize digital technology for providing better sensing performance and efficiency.
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The global pressure sensors market is expected to witness a substantial growth during the forecast period. This is due to its increasing demand across various application sectors such as automotive, industrial and medical sector. The increase in automobile production worldwide is stimulating the growth in demand for pressure sensors and associated components. In addition, government regulations around the world related to motor vehicle safety are also influencing the growth of this market. Automotive is the largest revenue generating application segment in this market. Consumer electronics segment is analyzed to be the fastest growing application segment in the pressure sensor market.
Adoption of new technologies such as MEMS and NEMS is also contributing to the growth in demand for pressure sensors globally. However, maturity of end user segment is acting as a restraining factor for the growth of pressure sensors market, especially in North America and Europe. The development of smart city infrastructures in the Middle East and Asia Pacific is also influencing the growth of overall pressure sensors market. Asia Pacific is analyzed to dominate the global pressure sensors market throughout the forecast period. The region's dominance is attributed to increasing production of motor vehicles in countries such as Japan, South Korea, China, and India. Moreover, rapid level of industrialization in this region is also contributing to growth of pressure sensors market.
This market research study analyzes the pressure sensors market on a global level, and provides estimates in terms of revenue (USD billion) from 2014 to 2020. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.
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The market in the report is segmented on the basis of geography as North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW), and these have been estimated in terms of revenue (USD billion). In addition, the report segments the market based on the sensor technology, which include piezoresistive pressure sensors, electromagnetic pressure sensors, capacitive pressure sensors, resonant solid state pressure sensors, optical pressure sensors and others. It also segments the market on the basis of application as automotive, oil and gas, consumer electronics, medical, industrial and others. All these segments have also been estimated on the basis of geography in terms of revenue (USD billion).
For better understanding of the pressure sensors market, detailed analysis of supply chain was done. A detailed Porter's five forces analysis was done for better understanding of the intensity of the competition present in the market. Furthermore, the study comprises market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and general attractiveness.
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The report provides company market share analysis of various industry participants. The key players have also been profiled on the basis of company overview, financial overview, business strategies, SWOT analysis, and the recent developments in the field of pressure sensors. Major market participants profiled in this report include ABB Ltd, Analog Devices Inc., Delphi Automotive PLC, Emerson Process Management, Freescale Semiconductor Ltd., Honeywell International Inc., Schneider Electric SE, Omron Corporation, Robert Bosch Gmbh, and STmicroelectronics N.V. among others.
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