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The Global Pressure Sensor Market was valued at USD 7.92 billion in 2016 and is projected to reach USD 12.67 billion by 2025, growing at a CAGR of 5.36% from 2017 to 2025.
A pressure sensor is a device for pressure measurement of gases or liquids. A pressure sensor usually acts as a transducer; it generates a signal as a function of the pressure imposed. Pressure sensors are used for control and monitoring in thousands of everyday applications and can also be used to indirectly measure other variables such as fluid or gas flow, speed, water level, and altitude.
1. Market Drivers
1.1 Stringent government regulations
1.2 Rising adoption of pressure sensors in consumer goods and wearables
1.3 Increasing demand from automotive and medical industries
1.4 Adoption of MEMS technology and IT in connected devices
1.5 Increasing need of IoT platform and remote connectivity
2. Market Restraints
2.1 High cost
2.2 Increasing regulatory barriers
2.3 Presence of Shock and vibration
The Global Pressure Sensor Market is segmented on the By technology, product type, application, and region.
2. By Product Type:
3. By Application:
3.1 Oil & Gas
3.6 Consumer Electronics, Utilities
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
2. Emerson Electric
4. General Electric
5. Robert Bosch
6. NXP Semiconductors
10. Infineon Technologies
11. Sensata Technologies
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Pressure Sensor Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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