Pressure Sensor Market Worth $11.91 Billion by 2025 | CAGR: 5.0%: Grand View Research, Inc.
SAN FRANCISCO, September 5, 2018 /PRNewswire/ --
The global pressure sensor market [https://www.grandviewresearch.com/industry-analysis/pressure-sensors-industry?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Sep05_Pressure_Sensor_RD1&utm_content=Content ] is anticipated to reach USD 11,911.2 million by 2025, according to a new report by Grand View Research, Inc. Factors such as the increased demand for smart and wireless pressure sensors and regulatory initiatives in the developed markets of North America and Europe have propelled the adoption of pressure sensors. Pressure sensors are widely used for control and monitoring applications. The demand for high-performance, cost-efficient, and reliable sensors has increased, leading to a higher spending in R&D activities by market vendors. Technological proliferation and advancements in nanotechnology and micro-technology are expected to propel the market growth over the forecast period.
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Numerous sensors are used to monitor pressure levels of liquids and gases in the automotive industry. Moreover, the accelerated use of wireless technologies and semiconductor-based sensors in consumer products, industrial automation, and air compressor monitoring is expected to drive the market growth over the forecast period. The optical technology segment is predicted to gain traction owing to several advantages such as high resistance to chemical corrosion and high sensitivity. Moreover, the proliferation and increased adoption of optical fiber technology are also major market growth drivers.
The increasing adoption of pressure sensors in consumer goods and wearable devices, such as watches, tablets, and smartphones, is substantially contributing to the market expansion. The use of MEMS pressure sensors in industrial control applications and processes, HVAC applications, and level measurement is instrumental in driving market growth. Government regulations or laws to ensure passenger safety in automobiles are also expected to be a major growth driver. For instance, the U.S. government passed the TREAD Act to mandate the installation of the Tire Pressure Monitoring System (TPMS) in all types of automobiles so as to alert the driver about the under-inflation of automobiles within 20 minutes of its detection.
Browse full research report with TOC on "Pressure Sensor Market Size, Share, & Trends Analysis Report By Product, By Type, Technology (Piezoresistive, Electromagnetic, Capacitive, Resonant Solid-state, Optical), By Application, By Region, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/pressure-sensors-industry [https://www.grandviewresearch.com/industry-analysis/pressure-sensors-industry?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Sep05_Pressure_Sensor_RD1&utm_content=Content ]
Further Key Findings From the Report Suggest:
- The demand for pressure sensors has increased over the years since they offer
reliability in performance, real-time monitoring, and cost-effectiveness.
- The U.S. government is investing a considerable amount of monetary and non-monetary
resources to encourage the adoption of sensors across various sectors. Pressure
sensors are also an important component of smart city projects.
- The growing need for more tightly controlled processes with their associated quality
control requirements is anticipated to drive the demand for MEMS devices in the
manufacturing segment.
- Government regulations mandating the installation of pressure sensors in several
applications, including automotive and industrial sectors, are also driving the demand
worldwide.
- Key players in the market include ABB Ltd., Emerson Electric Co., and Omron
Corporation, among others.
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Grand View Research has segmented the market on the basis of product, type, technology, application, and region:
- Product Outlook (Revenue, USD Million; 2014 - 2025)
- Absolute Pressure Sensors
- Differential Pressure Sensors
- Gauge Pressure Sensors
- Type Outlook (Revenue, USD Million; 2014 - 2025)
- Wired
- Wireless
- Technology Outlook (Revenue, USD Million; 2014 - 2025)
- Piezoresistive
- Electromagnetic
- Capacitive
- Resonant solid-state
- Optical
- Others
- Application Outlook (Revenue, USD Million; 2014 - 2025)
- Automotive
- Oil & gas
- Consumer electronics
- Medical
- Industrial
- Others
- Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Nordic Region
- Asia Pacific
- India
- Australia
- China
- Japan
- Latin America
- Brazil
- Argentina
- MEA
- Saudi Arabia
- UAE
Explore the BI enabled intuitive market research database, Grand View Compass [https://www.grandviewresearch.com/compass?utm_source=pressrelease&utm_medium=referral&utm_campaign=PRN_Sep05_Pressure_Sensor_BI&utm_content=Content ] , by Grand View Research, Inc.
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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SOURCE Grand View Research, Inc.
