Press release
Force Sensor Market Competitive And Growth Analysis 2024 - Major Players, High Growth Strategies And Opportunities | Siemens AG, Honeywell International Inc., ABB Ltd., Texas Instruments Incorporated, TE Connectivity Ltd
Force Sensor Global Market Report 2024
The Business Research Company offers in-depth market insights through Force Sensor Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Rising Industrial Robot Demand Boosts Force Sensor Market
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.
Competitive Landscape:
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
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Top Trend - Product Innovation For High-Precision Measurement
Product innovation is a key trend gaining popularity in the force sensor market. Major companies operating in the force sensor market are working on product innovations to sustain their position in the market. For instance, in September 2022, Kistler Group, a Switzerland-based technology company, launched the new SlimLine force sensor 9132CD for the high-precision measurement of low forces. The SlimLine force sensor 9132CD is a more sensitive force transducer with an extraordinarily flexible, long-lasting connection wire. This makes it perfect for measuring low forces with great precision in applications like semiconductors and 3C, where there is a lack of constructional space.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Force Sensor Market Characteristics
3. Force Sensor Market Trends And Strategies
4. Force Sensor Market - Macro Economic Scenario
5. Force Sensor Market Size And Growth
…..
27. Force Sensor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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