A pressure sensor is a device that senses pressure and converts it into an analog electric signal whose magnitude depends upon the pressure applied. Since they convert pressure into an electrical signal, they are also termed as pressure transducers. Pressure sensors have been extensively used in fields like manufacturing, automobile, aviation, air conditioning, bio-medical measurements, hydraulic measurements etc.
The increasing demand from automotive and medical industries, increased adoption of pressure sensors in wearables and consumer goods are the primary drivers that are boosting the growth of the pressure sensor market. Moreover, a large-scale adoption of the internet of things (IoT) platform and increase in demand of pressure sensors in medical applications are expected to provide significant opportunities to pressure sensor market to grow in the coming years.
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Pressure sensors are widely used in the automotive industry in equipment such as Tire Pressure Monitoring Systems (TPMS), engine health management systems, and exhaust gas recirculation systems. The growing production of vehicles worldwide is positively influencing the demand for automotive pressure monitoring devices.
Microelectromechanical Systems (MEMS) are expected to open new growth opportunities for the market over the forecast period owing to their wide usage in the semiconductor industry. MEMS consist of several nanoelectromechanical components embedded in semiconductor chips. The demand for these sensors is gaining momentum owing to their wide adoption in medical devices for measuring barometric pressure, in vivo blood pressure, ex vivo blood pressure, Intraocular Pressure (IOP), and liquid or gas flow.
Pressure sensors have numerous applications in consumer electronics to provide comfort, indoor navigation, and user-friendly interface. Growth of consumer electronics market specifically smartphones, tablets and wearable electronics drives the growth of pressure sensor market.
Demand for pressure sensors has increased subsequently over the years, and is estimated to increase during the forecast period. This will benefit automotive manufactures to boost their market growth and increase their market share. Pressure sensors are the key components in reducing emissions and fuel consumption, so as to decrease the air pollution.
The increasing demand for wired pressure sensors in industrial and automotive sectors owing to their lower radio frequency interference, smaller size, low power consumption, compatibility between systems of different manufactures, and their low cost as compared to wireless pressure sensors are expected to drive the growth of the wired pressure sensor segment over the forecast period.
On the basis of application, the market is categorized into automotive, consumer electronics, oil & gas, industrial, medical, and aeronautics, among others. The consumer electronics application segment accounted for over 17.0% of the global market share in 2017. The increasing use of MEMS devices in consumer electronics and wearable devices is boosting the segment growth.
Some of the key players influencing the pressure sensor market are ABB Ltd., Analog Devices, Inc., Denso Corporation, Emerson Electric Co., Honeywell International Inc., Infineon Technologies AG, NXP Semiconductors, Robert Bosch Gmbh, Schneider Electric, and STMicroelectronics among others.
It also provides market size and forecast till 2027 for overall pressure sensor market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.