The global pressure sensor market revenue is expected to expand at a moderate CAGR over the forecast period. Increasing demand of pressure sensors in various industries, consumer electronics, and medical applications are the major factors expected to drive growth of the global market over the forecast period.
The global pressure sensor market report has been segmented on the basis of product, technology, application, and region. On the basis of product, the target market is segmented into absolute pressure sensors, differential pressure sensors, and gauge pressure sensors. The absolute pressure sensors product segment is expected to register significant share in terms of revenue over the forecast period, owing to increasing demand from various industries to measure vacuum level. On the basis of technology, the target market is segmented into piezo-resistive, electromagnetic, capacitive, resonant solid state, and optical. The piezo-resistive technology segment is expected to register highest share in the market over the forecast period, owing to increasing use of MEMS sensors in consumer electronics and wearable devices. On the basis of application, the target market is segmented into automotive, oil & gas, consumer electronics, medical, industrial sector, and others. The consumer electronics application segment is expected to register significant share in terms of revenue over the forecast period.
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Based on the region the pressure sensor market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is estimated to be highest share in terms of revenue over the forecast period, owing to advanced products development, and government initiative for employee’s safety in various countries in this region. The market in Asia Pacific is expected to register highest CAGR in terms of revenue, owing to rising hearing impairments among individuals caused by construction activities and industrial noise in developing countries such as India and China in the region.
Key players operating in the global pressure sensor market include Robert Bosch GmbH, DENSO CORP, NXP Semiconductors N.V., General Electric Company, Texas Instruments, Inc., Infineon Technologies AG, OMRON Corporation, Infineon Technologies AG, Melexis Technologies NV, and Siemens AG.