Market Highlights
The mounting need to monitor and control the pressure of gases is encouraging the market. Reports that judge the semiconductors and electronics industry has been offered by Market Research Future, which generates reports on industry verticals that judge the market development and possibilities.
Pressure Sensors Market is estimated to reach USD 12 billion with a CAGR of 6% through the forecast period of 2026.
The increasing demand from automotive and medical industries and rising adoption of pressure sensors in consumer electronics are the primary factors driving the market growth. The rising adoption of Internet of Things (IoT) is fueling the market growth. However, the intense pricing pressure is hampering the market growth.
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Segmentation:
The segmental investigation of the pressure sensor market is conducted on the basis of vertical, product type, technology, and region. Based on product type, the pressure sensor market is segmented into differential pressure sensors, absolute pressure sensors, vacuum pressure sensors, gauge pressure sensors, and many others. On the basis of technology, the pressure sensor market is segmented into optical pressure sensors, capacitive pressure sensors, electromagnetic pressure sensors, piezoresistive pressure sensors, and others. On the basis of vertical, the pressure sensor market is segmented into automotive, medical, aviation, marine, oil & gas, medical, consumer electronics, and many others.
Detailed Regional Analysis
The regional assessment of the pressure sensors market includes regions such as North America, Europe, Asia Pacific and the other regions of the world. The Asia Pacific region is projected to hold a chief market share during the forecast period. The boost in the deployment of pressure sensors for automated storage and retrieval systems, along with increased awareness about the advantages of automated systems are motivating the pressure sensors market in this region. Nonetheless, the North American and European regions are projected to illustrate a noteworthy growth rate all through the forecast period. The advancement in MEMS technology and its implementation across connected devices is also motivating the pressure sensors market in this region. The demand for high-efficient and commercial products is inspiring demand for global pressure sensor market.
Competitive Dashboard:
Some of the key players in the global pressure sensors market are Honeywell International Inc. (U.S.), ABB (Switzerland), NXP Semiconductors (the Netherlands), Infineon Technologies (Germany), Emerson Electric (U.S.), General Electric (U.S.), Siemens AG (Germany), STMicroelectronics (Switzerland), Robert Bosch GmbH (Germany), Texas Instruments (U.S.), MRON Corporation (Japan) and many others.
Some of the key innovators in this market are Denso Corporation (Japan), TE Connectivity (Switzerland), Continental AG (Germany), Aptiv PLC (U.K), Sensata Technologies Holding PLC (U.K), Pricol Ltd (India), Taiwan Semiconductors (Taiwan), Renesas Corporation (Japan), Samsung Electronics (South Korea), Sony Corporation (Japan), Toshiba Corporation (Japan) and many others
There have been recent mergers and acquisitions among the key players, where the business entities expect to strengthen their reach to their customers.
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