Future Market Insights has announced the addition of the “Force Sensor Market: Global Industry Analysis and Opportunity Assessment, 2017-2027"report to their offering

Valley Cottage, NY -- (SBWire) -- 03/25/2019 --Force sensors have emerged as an advancement that is revolutionizing the automotive and manufacturing industry throughout the globe. Several businesses and trades are driven by the manufacturing industry, and force sensors are indirectly influencing these trades in making better profit margins and bringing enhanced efficacy to the product developments taking place in the manufacturing industry. Force sensors, as considered under the scope of the report, are adopted by various industries. Force sensors are used to measure static and dynamic forces across various industrial automation process, for example, in the assembly of two parts with a sequence of static and dynamic programmable force fields. In addition, technological developments and the substantial availability of resources are other factors propelling the global force sensor market in terms of value. The global force sensor market is estimated to be valued at US$ 7,500 Mn by the end of 2016, and is expected to expand in the coming years at a CAGR of 7.1% in terms of value during the forecast period. The global force sensor market is expected to represent a considerable incremental opportunity between 2017 and 2027.

Automation and automated services in the automotive sector are enhancing production capabilities, thus increasing the demand for force sensors and generating more revenues in the force sensor market. Some of the critical inclinations powering the overall force sensor market include the rising adoption of IoT. The increasing adoption of Internet of Things (IoT) technology is driving the global force sensor market. Force sensors are utilized to measure changes in physical parameters, which describes the functionality and performance capabilities of various IoT applications such as consumer electronics, building automation, healthcare & life science, home automation, transportation, industrial, environment, security & public safety and retail & logistics. Hence, the increasing demand for consumer electronics, healthcare & life science, home automation and others is fuelling the growth of the global force sensor market. Since last few years, focus on deploying touch interface across a variety of applications ranging from consumer devices to commercial applications in retail, gaming and signage is increasing. Touch panels require precision in position sensing and rapid response to input & durability, which is offered by force sensors. Thus, the increasing demand for touchscreen applications is expected to support the growth of the global force sensor market.

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Segmental Analysis

On the basis of technology, the global force sensor market can be segmented into capacitive force sensor, piezo-resistive force sensor, piezo-electric force sensor, magneto-elastic force sensor and others. The piezo-resistive force sensor technology segment is expected to account for a sizable share of the overall force sensor market in 2016, but is expected to witness stagnation in the growth rate due to the expected growth of capacitive force sensors by the end of the forecast period.

On the basis of application, the force sensor market is segmented into monitoring & control and testing & measurement applications. The testing & measurement applications in the overall force sensors market are expected to grow at a higher CAGR during the forecast period.

On the basis of industry, the global force sensor market can be segmented into automotive, medical & healthcare, consumer electronics, clothing & textile, food & beverages, manufacturing, aerospace & defence, oil & gas, construction, agriculture and others. The growth of the force sensor market is predominantly driven by the manufacturing industry, followed by consumer electronics. Automation in businesses across the global industrial landscape is expected to boost the efficiency of manufacturing in a relatively lower period, which is facilitated by force sensors. Manufacturers across the globe are focusing on transforming existing facilities from single/partial automated cells to fully automated and integrated facilities to boost productivity, speed and quality, thus driving the demand for force sensors. This is, in turn, fuelling the demand for force sensing technologies in the manufacturing sector.

Regional Analysis

On the basis of geographical regions, the force sensor market is segmented into North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and MEA. The APEJ force sensor market holds a major value share in the global force sensor market and is likely to maintain its dominance in the global force sensor market during the forecast period. The force sensor market in the region is projected to represent a significant incremental opportunity between 2017 and 2027. The force sensor market in APEJ is predominantly held by the manufacturing industry. The APEJ force sensor market is expected to be followed by North America and Western Europe in terms of revenues generated. The North America force sensor market is currently witnessing the development of force sensor technologies. Western Europe is implementing force sensor technologies in the automotive sector, which is boosting quality and consistency in the automotive industry. The sales of force sensors in the North America market is projected to represent a total incremental opportunity of US$ 1,725.94 Mn, while the Japan force sensor market is also expected to witness significant growth. Owing to the advantages associated with force sensors and the demand for enhanced automated production capabilities, the force sensor market is expected to gain higher traction during the forecast period, especially in the developing countries such as India, China, etc. The Latin America region is expected to present attractive opportunities for force sensor manufacturers during the forecast period, and is estimated to expand at a significant CAGR in terms of value.

Competitive Analysis

Vendors in the force sensor market are now focusing on introducing advanced technologies to enhance production capabilities in the manufacturing sector. Examples of some of the force sensor market vendors in this study of the global force sensor market include TE Connectivity Ltd., Freescale Semiconductor Inc., ATI Industrial Automation Inc., General Electric, Innovative Sensor Technology IST AG, Tekscan Inc. and Sensata Technologies Inc.

Vendors are continuously innovating their force sensor solutions to penetrate the technology influenced market. In April 2017, ATI Industrial Automation, Inc. launched Axia80 Force Sensor, which is a force sensing feedback system. This force sensor is a fully integrated software interface compatible with robot models and offers high resolution with overload protection. ATI has also focussed on geographical expansion to maintain its strong position with reference to force sensors in the industrial automation sector. In April 2017, the company expanded its operations by setting up manufacturing units in the U.S., China, Mexico and Brazil to increase its customer base.

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With reference to the force sensor portfolio, in February 2017, Tekscan, Inc. launched the A502 off-the-shelf single-element FlexiForce sensor aimed at easing the prototyping process for design engineers by introducing a variety of off-the-shelf sensors in different sizes, shapes and force ranges at a low cost. The company also focussed on product launches to expand its product offerings in force sensor technologies and to maintain its position in the automotive and industrial automation sector. In April 2016, Tekscan, Inc. launched the FlexiForce OEM Development Kit, which enables engineers to test FlexiForce sensors in a specific product or application environment.

Few companies are focussing on acquisitions in the force sensor market to boost their customer base. In March 2016, Sensata Technologies, Inc. entered into a partnership with Quanergy Systems, Inc., which is a LiDAR sensors and smart sensing solutions provider, to manufacture and sell Quanergy Systems solid-state LiDAR sensors that are used for autonomous driving applications. The company is focussing on acquiring manufacturers of automotive and industrial sensors to expand its customer base.