Press release
Force Sensor Market Key Players, Demand Analysis, Growth Trends, And Forecast To 2033
Force Sensor Market Overview
The Business Research Company presents an extensive market research report on the Force Sensor Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The force sensor market size has grown strongly in recent years. It will grow from $2.34 billion in 2023 to $2.49 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to gowth in industrial automation, consumer electronics miniaturization, automotive safety systems, healthcare instrumentation, rise of human-machine interfaces.
The force sensor market size is expected to see strong growth in the next few years. It will grow to $3.09 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to internet of things (iot) integration, growth in robotic applications, emergence of flexible and stretchable sensors, smart home devices, adoption of force sensing technology in smartphones, demand for advanced driver assistance systems. Major trends in the forecast period include technological advancements in material sciences, increased use in gaming and entertainment, integration of virtual reality (vr) and augmented reality (ar), integration of artificial intelligence, integration of machine learning.
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Key Market Players:
Major companies operating in the force sensor market report are Siemens AG, Honeywell International Inc., ABB Ltd., Texas Instruments Incorporated, TE Connectivity Ltd., MinebeaMitsumi Inc., Alps Electric Co. Ltd, Omron Corporation, FANUC America Corporation, Sensata Technologies Inc, Mettler Toledo Inc., Spectris plc, Synaptics Inc., Baumer Holding AG, Kistler Group, Vishay Precision Group Inc., Flintec Group AB, OMEGA Engineering Inc., Gefran Group, PCB Piezotronics Inc., ATI Industrial Automation Inc., HBM Inc., Dytran Instruments Inc., FUTEK Advanced Sensor Technology Inc., Tekscan Inc., HITEC Sensor Developments Inc., Taiwan Alpha Electronic Co Ltd, Sensel, Interlink Electronics Inc., Strainsert Co
Market Drivers:
Increasing demand for industrial robots is expected to propel the growth of the force sensor market going forward. An industrial robot is a mechanical device designed to conduct production-related tasks in industrial settings automatically. Force sensors improve the design of robotic applications by providing improved control technologies that offer haptic input to a robot, allowing for improved overall performance. This function comprises validating grip pressures, assuring adequate balance, and giving tactile information to an external source. For instance, in May 2023, according to the International Federation of Robotics, a Germany-based professional non-profit organization, the installations of industrial robots in manufacturing rose by 12% and reached 41,624 units in 2022, compared to 2021 in North America. Therefore, the adoption of industrial robots is driving the growth of the force sensor market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/force-sensor-global-market-report
The force sensor market covered in this report is segmented -
1) By Type: Tension Force Sensors, Compression Force Sensors, Tension And Compression Force Sensors
2) By Technology: Strain Gauge, Load Cell, Force Sensitive Resistors, Other Technologies
3) By Operation: Analog, Digital
4) By End-use Industry: Healthcare, Industrial Manufacturing, Automotive, Aerospace And Defense, Consumer Electronics, Other End-use Industries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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