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.
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
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.
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.
Lucintel, a leading global strategic
consulting and market research firm, has analyzed the global pressure sensor market by technology, end
use industry, and region and has come up
with a comprehensive research report entitled
“Growth
Opportunities in the Global Pressure Sensor Market 2018-2023: Trends, Forecast,
and Opportunity Analysis.” This Lucintel report serves as a
catalyst for growth strategy as it provides comprehensive data and analysis on trends, key
drivers, and directions. 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]:
- Piezoresistive
- Electromagnetic
- Resonant Solid State
- Capacitive
- Optical
- Others
By End Use Industry [$M shipment analysis from
2012 to 2023]:
- Automotive
- Industrial
- Healthcare
- Electronics
- Others
By Region [$M
shipment analysis for 2012 – 2023]:
·
North America
Ø United
States
Ø Canada
Ø Mexico
·
Europe
Ø United
Kingdom
Ø Germany
Ø France
·
Asia Pacific
Ø Japan
Ø China
Ø South
Korea
Ø India
- The Rest of the World
This
167-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Telecommunication
Report, Telecommunication
Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Matrix.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. Lucintel offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q.1 What are
some of the most promising, high-growth opportunities for the global pressure sensor
market 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)?
Q. 2 Which segments will grow at a faster pace
and why?
Q.3 Which regions will grow at a faster pace
and why?
Q.4 What are the key factors affecting market
dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to
the market?
Q.6 What are the emerging trends in this
market and reasons behind them?
Q.7 What are some changing demands of
customers in the market?
Q.8 What are the new developments in the
market? Which companies are leading these developments?
Q.9 Who are the major players in this market?
What strategic initiatives are being implemented by key players for business
growth?
Q.10 What are some of the competitive products
and processes in this area and how big of a threat do they pose for loss of
market share via product substitution?
Q.11 What M&A activity has
occurred in the last 5 years?
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