Trends, opportunities and forecast in this market to 2023 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)
According to a new market report published by Lucintel, the future of the global pressure sensor market looks attractive with opportunities in the industrial, healthcare, consumer electronics, and automotive industries. The global pressure sensor market is expected to reach an estimated $12 billion by 2023 with a CAGR of 5.1% from 2018 to 2023.
The major growth drivers for this market are stringent government regulations for safety in the automotive industry, growth in consumer electronics, and increasing demand for microelectromechanical systems (MEMS) technology.
Browse 67 market data Tables and 86 Figures spread through 167 Pages and in-depth TOC on “Pressure Sensor Market – Global Forecast to 2023” www.lucintel.com/pressure-sensor-market-2018-2023.aspx
In this market, piezoresistive, electromagnetic, resonant solid state, capacitive, and optical pressure technologies are used in the various end use industries.
Lucintel forecasts that piezoresistive technology will remain the largest technology type 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
The electronics industry is expected to grow with the highest CAGR during the forecast period
Within the pressure sensor market, the automotive industry will remain the largest end use segment due to increasing usage of pressure sensors in the tire pressure monitoring, electronic stability controls, engine controls, and side airbags. Lucintel predicts that the electronics industry is likely to experience the highest growth over the forecast period due to growth in smartphones, tablets, household appliances, and wearable devices.
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Asia Pacific is expected to remain the largest market and will experience the highest growth over the forecast period supported by increasing automotive production and growing consumer electronics industry. Growing industrialization and increasing use of automation systems in China, India, and other countries are also driving the growth for pressure sensors in this region.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of implantable pressure transduction system and the development of nanoelectromechanical system (NEMS) pressure sensor. ABB, Emerson Electric Co, Analog Devices., Denso Corporation, and Robert Bosch are among the major suppliers of pressure sensors.
The study includes a forecast for the global pressure sensor market by technology, end use industry, and region as follows:
By Technology [$M shipment analysis from 2012 to 2023]:
- Resonant Solid State
By End Use Industry [$M shipment analysis from 2012 to 2023]:
By Region [$M shipment analysis for 2012 – 2023]:
- North America
- United States
- United Kingdom
- Asia Pacific
- South Korea
- The Rest of the World
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