Pressure Sensor Market to Witness Strong Growth with 7.83% CAGR, Projected to Reach USD 23.36 Billion by 2030

Pressure Sensor Market size was valued at USD 13.78 Bn in 2023 and is expected to reach USD 23.36 Bn by 2030, at a CAGR of 7.83 %.

03 July 2024: A global Electronics business consulting firm, Maximize Market Research, has published market intelligence and competitive landscape report on the Pressure Sensor Market. The report is a combination of primary data and secondary data and field experts have examined the Pressure Sensor Market from a local, regional and global point of view. Over the forecast period, Maximize Market Research expects the Pressure Sensor Market size was valued at USD 13.78 Billion in 2023 and the total Market revenue is expected to grow at a CAGR of 7.83% from 2024 to 2030, reaching nearly USD 23.36 Billion by 2030.

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Pressure Sensor Market Scope:

Market Size in 2023 USD 13.78 Bn.
Market Size in 2030 USD 23.36 Bn.
CAGR 7.83% (2024-2030)
Forecast Period 2024-2030
Base Year 2023
Number of Pages 260
No. of Tables 125
No. of Charts and Figures 115

Segment Covered by Product Type, Technology and Application

Regional Scope North America, Europe, Asia Pacific, Middle East and Africa, South America

Report Coverage Market Share, Size & Forecast by Revenue | 2024-2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players' Market Ranking Analysis.

Pressure Sensor Market Report Scope and Research Methodology:

Pressure Sensor Market Report focuses on electronic components that monitor gas or liquid pressure, converting it into electrical signals. It highlights growth drivers like MEMS technology adoption, stringent safety standards, and expanding applications in consumer electronics, automotive, and medical sectors, while addressing cost-related challenges. The methodology combines primary data from expert interviews and secondary data from market reports. The analysis employs both quantitative and qualitative methods to understand market size, trends, and competition. Statistical models forecast future trends, considering technological advancements and regulatory impacts, providing a thorough overview of the market dynamics and growth potential.

Pressure Sensor Market Dynamics:

Pressure Sensor Market is facing significant growth driven by the increasing demand for consumer electronics. Smartphones, wearable devices, and smart home appliances utilize pressure sensors for functions like touch sensing, navigation, and environmental monitoring. As consumer preferences shift towards classier and feature-rich gadgets, the demand for smaller, more accurate, and energy-efficient pressure sensors rises. The expansion of IoT applications also contributes to the growth by generating opportunities for pressure sensors in connected devices and smart city infrastructure. This trend shows a promising future for the pressure sensor market as consumer electronics continue to evolve.

Pressure Sensor Market Regional Insight:

Asia Pacific region held the global revenue market in 2023. The growth of the region is driven by the large-scale making of electronic components as well as the increasing investments in R&D. The growing demand for consumer electronics, such as tablets, wearable devices, and smartphones, is driving the demand for pressure sensors in this region. India and China are contributing to a large share of the regional Pressure Sensor market. The Korean government has allocated $172.23 million in funding for a program called, "2022 Implementation Plan for the Intelligent Robot," and has plans to spend $7.41 million from 2022 to 2024 on a "Project for Full-Scale Test Platform Project for Special-Purpose Manned or Unmanned Aerial Vehicles." Like this funding programs also boost the Pressure Sensor Market growth.

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Pressure Sensor Market Segmentation:

by Product Type

• Gauge Pressure Sensors
• Vacuum Pressure Sensors
• Differential Pressure Sensors
• Absolute Pressure Sensors
• Others

by Technology

• Piezoresistive
• Electromagnetic
• Optical
• Capacitive
• Resonant Solid State
• Others

by Application

• Oil & Gas
• Automotive
• Medical
• Aviation
• Consumer Electronics
• Marine
• Others

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Leading Pressure Sensor Market key industry:

• General Electric (USA)
• Emerson Electric (USA)
• Honeywell (USA)
• Sensata Technologies (USA)
• Sensata Technologies, Inc. (USA)
• ABB (Switzerland)
• NXP Semiconductors (Netherlands)
• Infineon Technologies (Germany)
• Siemens (Germany)
• ST Microelectronics (Switzerland)
• Continental (Germany)
• Delphi (Ireland)
• TE Connectivity (Switzerland)
• ES Systems (Greece)
• Sensirion (Switzerland)
• MICRO SENSOR CO., LTD (China)
• Denso (Japan)
• Sunsui Process System (India)

To Get More: https://www.maximizemarketresearch.com/market-report/pressure-sensor-market/2789/

Key questions answered in the Pressure Sensor Market are:

• What is Pressure Sensor?
• What was the Pressure Sensor Market size in 2023?
• What is the growth rate of the Pressure Sensor Market?
• Which are the factors expected to drive the Pressure Sensor Market growth?
• What are the different segments of the Pressure Sensor Market?
• What are the factors restraining the growth of the Pressure Sensor Market?
• What is the demand pattern of the Pressure Sensor Market?
• What major challenges could the Pressure Sensor Market face in the future?
• What segments are covered in the Pressure Sensor Market?
• Who are the key players in the Global Pressure Sensor Market?
• What are the upcoming industry applications and trends for the Pressure Sensor Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2023)
• Past Pricing and price curve by region (2018 to 2023)
• Market Size, Share, Size & Forecast by Different Segment | 2024-2030
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation - A detailed analysis of the Offerings, Vertical, Application and Region
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
o Competitive landscape - Market Leaders, Market Followers, Regional player
o Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Recommendations

Maximize Market Research is leading Electronics research firm, has also published the following reports:

Sensor Market: The market size was valued at USD 216.76 Bn in 2023 and is expected to reach USD 388.69 Bn by 2030, at a CAGR of 8.7 %.

Wireless Remote Door Opener Sensors and Controls Market: Market were valued at US$ 1.76 Bn. in 2022 and the total revenue is expected to grow at 7.1% of CAGR through 2023 to 2029, reaching nearly US$ 2.85 Bn.

Contact Maximize Market Research:

3rd Floor, Navale IT Park, Phase 2
Pune Banglore Highway, Narhe,
Pune, Maharashtra 411041, India
sales@maximizemarketresearch.com
+91 96071 95908, +91 9607365656

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

This release was published on openPR.