Force Sensor Market to grow from market value of USD 2.124 billion in 2017 to USD 3.05 billion by 2023| Top Vendors - TE CONNECTIVITY LTD, SIEMENS AG, HONEYWELL INTERNATIONAL, TEKSCAN, INC., HOTTINGER BALDWIN MESSTECHNIK (HBM) GMBH, KAVLICO CORPORATION, F

Market Analysis:

North America to Have the Highest Share
The rapid growth in the sale of force sensors in the United States is majorly driven by automotive end-markets, partially due to huge product obsolescence in the occupant weight sensing applications. Due to this, new business opportunities have emerged in the market.

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The market is observing a lucrative growth, owing to falling sensor and platform prices, widening applications of sensors and heavy R&D investment. These sensors have improved the monitoring and management of networked embedded systems. Moreover, the adoption of automation has transformed the force sensor market landscape, as these sensors have become critical to all automated equipment, offering accuracy and precision in all operations. Also, OEMs have adopted thin-film piezo-resistive flexible force sensors, owing to their flexible capabilities and ease to integrate into a myriad of designs, further driving the force sensors market. Innovation and development in the consumer electronics sector is expected to drive the market.

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Market Segments:
Force Sensor Market is segmented by:
1. Type: Piezoresistive Force Sensors, Ultrasonic Force Sensors, Capacitive Force Sensors, Piezoelectric Force Sensors, Strain Gauges, Optical Force Sensors, Magnetic Force Sensors, Others
2. Application: Healthcare, Industrial Manufacturing, Packaging, Automotive, Aerospace & Defense, Consumer Electronics, Others
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
•September 2017 - FUTEK released a new miniature S-Beam load cell, which has a capacity range from 1 to 100 lb.
•September 2017 - Micro-measurements a brand of VPG Inc., introduced lightweight hybrid sensors for force, pressure, displacement, strain and acceleration measurements within high-volume OEM and test applications.

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