Global pressure sensors market, by technology, (USD Million), 2012 - 2020
The global pressure sensors market was valued at USD 5,750.0 million in 2012. The market is expected to witness steady growth owing to the utility of pressure sensors in multiple industries, coupled with the incorporation of Micro-Electro-Mechanical Systems (MEMS) technology, thereby widening their application scope. The demand for low-cost, high performance and reliable sensors has increased, which has led microtechnology and nanotechnology development, offering opportunities such as mass production, miniaturization, and low power consumption.
MEMS pressure sensors have been predominantly used in HVAC applications, industrial process and control applications, and level measurements. They are gradually being incorporated in consumer electronics equipment such as smartphones and tablets, which is expected to increase their demand over the forecast period. Pressure sensors market growth has been further boosted owing to the U.S. government’s directive for mandatory installation of Tire Pressure Monitoring Systems (TPMS). Additionally, increased number of vehicles on a global scale is expected to be a key driving force for the pressure sensors market.
Technology Insights
The pressure sensors market has undergone a shift from analog to digital technology, thereby increasing their efficiency and sensing performance. Based on technology, the pressure sensors market has been segmented into capacitive, electromagnetic, optical, piezoresistive, and resonant solid-state sensors. Piezoresistive and electromagnetic sensors dominated the market in 2013 and are expected to be the leading revenue generators over the forecast period.
Piezoresistive sensors are used in the automotive industry, biomedical applications, and household appliances. As a result, increased demand from automotive and consumer electronics industries is expected to boost the pressure sensors market over the next six years. Optical and resonant solid-state sensors are expected to exhibit high growth over the forecast period. Optical sensors are used in hazardous remote environments such as high-temperature zones and areas having high radioactive emission, owing to which the pressure sensors market for these products is expected to witness high growth over the forecast period.
Global pressure sensors market, by technology, (USD Million), 2012 - 2020
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Application Insights
On the basis of application, the pressure sensors market has been segmented into automotive, consumer electronics, industrial, medical, and oil & gas. Pressure sensors are used in automobiles to measure the pressure of vital components which include oil, fuel, nitrous, brake, transmission, etc. In addition, they are used in side airbags, tire pressure monitoring systems, exhaust gas recirculation pressure measurement, barometric pressure measurement, and gasoline direct-injection systems.
The increased popularity of recreational racing events such as Formula One, LeMans, and NASCAR is further expected to boost the pressure sensors market. Consumer electronics is expected to be a fast-growing application segment owing to growing smartphone demand; these devices have sensors to enable global positioning systems (GPS), altitude measurement, and indoor navigation. In the medical sector, the pressure sensors market is expected to be driven by health monitoring gadgets such as air concentration, anesthetic control, blood pressure monitoring devices, catheters, gastrointestinal pressure sequencing, implanted cardiac measurement, respirometers, and sleep apnea detection.
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