Wireless Pressure Sensors Market Astonishing Growth with Top Influencing Key Players like ABB Group, Emerson Electric Company, ESI, Inc., Honeywell International, Inc

Latest research on Wireless Pressure Sensors Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2022 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Wireless Pressure Sensors market. This report included a special section on the Impact of COVID19. Also, Wireless Pressure Sensors Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Wireless Pressure Sensors industry.

The Wireless Pressure Sensors market was valued at USD 691.9 million in 2020 and is expected to reach USD 2803.5 million by 2026, and grow at a CAGR of 20.8% over the forecast period (2021 - 2026), 

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The Wireless Pressure Sensors market is highly competitive and consists of a number of major players. Top Companies like ABB Group, Emerson Electric Company, ESI, Inc., Honeywell International, Inc., Infineon Technologies AG, OleumTech Corporation, Phoenix Sensors LLC, Siemens AG, TE Connectivity Ltd, Texas Instruments, Inc., Acuity Incorporated, Analog Devices, Inc., Rockwell Automation, Inc., Murata Manufacturing Co., Ltd.

Industry News And Developments:

- February 2019 - Honeywell announced the introduction of Aerospace’s hybrid-electric turbogenerator that will power the first generation of vertical takeoff and landing (VTOL) aircraft. The hybrid powerplant is an electrified version of its 1,100-shp HTS900 gas turbine engine used on Kopter’s SH09 light turbine helicopter and Eagle Copters Eagle 407HP conversion.

- October 2018 - Murata developed the world’s smallest 32.768 kHz MEMS resonator, which is expected to make a significant contribution to reducing the size and power consumption of IoT devices, wearables, and healthcare devices.

Regional Analysis:

Furthermore, to broaden the understanding, researchers have studied the global Wireless Pressure Sensors market from a geographical point of view, considering the potential regions and countries. The regional analysis will assist the market players in making sound decisions regarding their future investments.

Wireless Pressure Sensors Market report includes the following geographic areas such as North America, Europe, China, Japan, Southeast Asia, India and ROW.

Scope of the Report

- The increasing adoption of wireless pressure sensors in consumer goods and wearable devices, such as watches, tablets, and smartphones, is substantially contributing to market expansion. The use of MEMS wireless pressure sensors in industrial control applications and processes, HVAC applications, and level measurement is instrumental in driving market growth. Government regulations or laws to ensure passenger safety in automobiles are also expected to be a major growth driver.

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Key Market Trends

Wireless Pressure Sensors to Witness an Increased Demand from the Automotive Industry

- The automotive segment is anticipated to grow at a steady rate owing to progression in technology, the demand for concept cars, and automation, among others. The automotive industry has been an important end-user segment for legacy pressure sensors. High quality and absolute reliability are always on the preference list of automotive manufacturing.

- To achieve the optimum condition regarding performance and system cost, the pressure sensors have been a prime choice in many critical applications. However, with emerging applications, such as vehicle dynamics control, offline navigation, external airbag deployments, tire pressure monitoring, etc., the use of wireless pressure sensors is becoming increasingly popular in the automotive industry.

North America to Hold a Dominant Share

- North America is expected to hold a strong share of the global wireless sensors market over the forecast period. The U.S. is a primary country in this region, due to the presence of companies like Rockwell Automation, Texas Instruments, etc. Technological proliferation and advancements in nanotechnology and micro-technology are expected to propel the market growth in North America over the forecast period.

- Moreover, the growing demand for wireless sensors in the defense sector is anticipated to fuel market growth. In 2019, the U.S. Department of Defense estimated a budget of USD 13.7 billion for investing in technological development. These investments are expected to increase considering the technological advancements, which will further boost the wireless sensors market in the future years.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Wireless Pressure Sensors Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

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