Pressure Sensor Market is Growing With The Consumers Demand in Automotive & Transportation Industry: Grand View Research, Inc

Posted on 2018-01-17 by Javed_GVR in Automotive // 0 Comments

San Francisco, CA, 2018-Jan-17 — /EPR Network/ — The global pressure sensor market size is expected to reach USD 11,396.3 million by 2024 according to a new study by Grand View Research, Inc. The global Pressure Sensor Market was valued at USD 7,096.7 million in 2015. The market is anticipated to experience surges in growth owing to the utility of pressure sensors in diverse industry verticals. The emergence of pressure sensors in corporate in the Micro electromechanical Systems (MEMS) technology is further impelling growth in the industry and is substantially increasing the application scope of such sensors.

The demand for high-performance, cost-efficient, and reliable sensors has increased, leading to a higher spending by industry vendors in R&D activities. Technological proliferation and advancements in the nanotechnology and micro-technology present several opportunities, such as miniaturization, low power consumption, and mass production of such sensors.

The increasing adoption of pressure sensors in consumer goods and wearable devices, such as watches, tablets, and smart phones, are substantially contributing to the industry expansion. The use of MEMS pressure sensors in the industrial control applications and processes, HVAC applications, and level measurements is instrumental in energizing the industry prospects.

Browse Full research report on Pressure Sensor Market Analysis:
http://www.grandviewresearch.com/industry-analysis/pressure-sensors-industry

Further key findings from the study suggest:

The automotive sector emerged as the largest application segment for pressure sensors, accounting for 27.2% of the global market. Pressure sensors are widely used in the automotive industry for monitoring the pressure of crucial parameters such as brake, transmission, fuel, and oil. Such sensors are used in equipment or systems for monitoring the tire pressure, gasoline direct-injection systems, barometric pressure measurement, pressure measurement of exhaust gas recirculation, and side airbags
Pressure sensors in the consumer electronic application segment accounted for 16.3% of the overall market share. The increasing popularity of the wearable technology is expected to boost the demand for such sensors inthe consumer electronic industry. The small size and low-power consumption may give a competitive edge to the industry players. The increasing use in touch displays for smartphones and tablets is further estimated to drive growth in the consumer electronics application segment
The Asia Pacific regional market is anticipated to witness a remarkable growth over the forecast period. The regional market accounted for 33.84% of the global market share, owing to the increasing demand from developing countries such as India, China, and South Korea
Optical pressure sensors are immune to electromagnetic interference and are steadily replacing the electromagnetic pressure sensors. The high reliability and compact design enable optical pressure sensors to be used in miniaturized applications. The optical sensors technology segment generated about 13.1% of the total market revenue in 2015
The key vendors in the industry are undertaking several competitive strategies such as mergers & acquisitions to gain market share. The key players dominating the industry include ABB Ltd., Analog Devices, Bosch, Delphi Corporation, Emerson Electric Company, General Electric, Infineon,NXP Semiconductors, Siemens AG, and STMicroelectronics N.V.

Browse more reports of this category by Grand View Research at:http://www.grandviewresearch.com/industry/automotive-and-transportation

Grand View Research has segmented the global Pressure Sensor Market on the basis of technology, application, and region:

Pressure Sensors Technology Outlook (Revenue, USD Million, 2014 – 2024)

Piezo resistive
Electromagnetic
Capacitive
Resonant solid-state
Optical
Others

Pressure Sensors Application Outlook (Revenue, USD Million, 2014 – 2024)

Automotive
Oil & gas
Consumer electronics
Medical
Industrial
Others

Pressure Sensors Regional Outlook (Revenue, USD Million, 2014 – 2024)

North America
Europe
Asia Pacific
Latin America
MEA

Access press release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-pressure-sensors-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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