The Global Pressure Sensor Market is Expected to Reach $12 Billion by 2023
IRVING, Texas, December 28, 2017 (Newswire.com) - According to a new market report published by Lucintel, the future of the global pressure sensor market looks attractive with opportunities in the industrial, healthcare, consumer electronics, and automotive industries. The global pressure sensor market is expected to reach an estimated $12 billion by 2023 with a CAGR of 5.1% from 2018 to 2023. The major growth drivers for this market are stringent government regulations for safety in the automotive industry, growth in consumer electronics, and increasing demand for microelectromechanical systems (MEMS) technology.
Browse 67 market data Tables and 86 Figures spread through 167 Pages and in-depth TOC on “Pressure Sensor Market – Global Forecast to 2023” http://www.lucintel.com/pressure-sensor-market-2018-2023.aspx
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In this market, piezoresistive, electromagnetic, resonant solid state, capacitive, and optical pressure technologies are used in the various end use industries. Lucintel forecasts that piezoresistive technology will remain the largest technology type due to increasing demand in aerospace and automotive industries. The optical technology is expected to witness the highest growth in the forecast period due to its increasing penetration in medical electronics and automotive applications
The electronics industry is expected to grow with the highest CAGR during the forecast period
Within the pressure sensor market, the automotive industry will remain the largest end use segment due to increasing usage of pressure sensors in the tire pressure monitoring, electronic stability controls, engine controls, and side airbags. Lucintel predicts that the electronics industry is likely to experience the highest growth over the forecast period due to growth in smartphones, tablets, household appliances, and wearable devices.
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Asia Pacific is expected to remain the largest market and will experience the highest growth over the forecast period supported by increasing automotive production and growing consumer electronics industry. Growing industrialization and increasing use of automation systems in China, India, and other countries are also driving the growth for pressure sensors in this region.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of implantable pressure transduction system and the development of nanoelectromechanical system (NEMS) pressure sensor. ABB, Emerson Electric Co, Analog Devices., Denso Corporation, and Robert Bosch are among the major suppliers of pressure sensors.
The study includes a forecast for the global pressure sensor market by technology, end use industry, and region as follows:
By Technology [$M shipment analysis from 2012 to 2023]:
· Resonant Solid State
By End Use Industry [$M shipment analysis from 2012 to 2023]:
By Region [$M shipment analysis for 2012 – 2023]:
· North America
Ø United States
Ø United Kingdom
· Asia Pacific
Ø South Korea
· The Rest of the World
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This 167-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org
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This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global pressure sensor market by technology (piezoresistive, electromagnetic, resonant solid state capacitive, optical, and others), by end use industry (automotive, industrial, healthcare, electronics, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?