Pressure Sensor Market : Pin-Point Analysis of Industry Trends & Recent Technological Improvements for 2022

The Global Pressure Sensor Market was valued at $6,636 million in 2015, and is expected to reach $10,446 million by 2022, growing at a CAGR of 6.5% from 2016 to 2022. Automotive segment is anticipated to lead the market throughout the analysis period, in terms of revenue generation. Asia-Pacific held the leading position in the global market in 2015, and is expected to maintain its lead ahead as well.

View Detail Summary of this report: https://www.alliedmarketresearch.com/pressure-sensor-market

Increase in use of pressure sensors in automotive industry, advancements in MEMS & NEMS technologies for various applications, increase in demand of pressure sensors in consumer electronics, and favorable legislations for use of pressure sensors are the factors that drive the market growth. However, high cost incurred during R&D activities, resulting in high development costs, acts as a growth restraining factor.

Piezoresistive sensor is anticipated to drive the market significantly, maintaining its dominance during the forecast period. The segment is projected to constitute around 25% of the global pressure sensor market revenue over 2014 2022. From a growth perspective, optical sensors would exhibit the highest CAGR of around 7% during the forecast period.

Pressure sensors are used across a wide range of application areas such as automotive, oil & gas, consumer electronics, medical, and industrial. In 2015, automotive sector constituted the highest revenue, accounting for around 28% of the overall pressure senor market revenue.

The consumer electronics segment is expected to grow at a fastest rate, registering a CAGR of 7.28%, due to incorporation of pressure sensors into different types of consumer electronic devices such as smartphones, wearable devices, and tablets for performing different operations more precisely.
Asia-Pacific market would continue to lead the pressure sensor market, with an anticipated market share of market share of over 30% throughout the analysis period. The market in the region is driven by the booming automotive and consumer electronics industry.

Key findings of the study -

•In 2015, piezoresistive sensors generated the largest revenue, with a market share of 25.4% in the overall pressure sensor market revenue
•The automotive segment held the highest revenue share of 27.6% in 2017, while consumer electronics segment is expected to witness the fastest growth, registering a CAGR of 7.28% from 2016 - 2022
•Asia- Pacific leads the pressure sensor market, followed by North America and Europe

Several prominent players operating in the pressure sensor market have adopted partnership and product launch as their key strategies. Leading market players are focused on launching innovative products to cater to the consumer requirements and strengthen their market share.

ABOUT US-

Allied Market Research is a global market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Our market research department starts with the research task considering specific concerns and ambitions of the client. We understand that every market is driven by certain key factors locally as well as globally. Our analysts dig out those factors, helping clients understand the importance and impact of every such driving force. Moreover, possible restraints of the market are discovered and suggestions to tackle those restraints are formulated after extensive research and analysis of the overall market conditions. Making an even deeper insight, we analyze the market trend including both qualitative and quantitative present market scenario in every geographical region segmented as per the business domain concerned and overall performance in different regions throughout the globe.

5933 NE Win Sivers Drive,
#205, Portland, OR 97220,
United States.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

This release was published on openPR.