Press release
Pressure Sensors Market Utilize Digital Technology for Providing better Sensing Performance & Efficiency
With technological advancements in several industry verticals such as automotive, healthcare, and oil and gas, the applications and functionalities of pressure sensors is evolving continuously. Modern day pressure sensors utilize digital technology for providing better sensing performance and efficiency.
The global pressure sensors market is expected to witness a substantial growth during the forecast period. This is due to its increasing demand across various application sectors such as automotive, industrial and medical sector.
The increase in automobile production worldwide is stimulating the growth in demand for pressure sensors and associated components. In addition, government regulations around the world related to motor vehicle safety are also influencing the growth of this market.
Automotive is the largest revenue generating application segment in this market. Consumer electronics segment is analyzed to be the fastest growing application segment in the pressure sensor market.
Adoption of new technologies such as MEMS and NEMS is also contributing to the growth in demand for pressure sensors globally. However, maturity of end user segment is acting as a restraining factor for the growth of pressure sensors market, especially in North America and Europe.
The development of smart city infrastructures in the Middle East and Asia Pacific is also influencing the growth of overall pressure sensors market. Asia Pacific is analyzed to dominate the global pressure sensors market throughout the forecast period.
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The region’s dominance is attributed to increasing production of motor vehicles in countries such as Japan, South Korea, China, and India. Moreover, rapid level of industrialization in this region is also contributing to growth of pressure sensors market.
This market research study analyzes the pressure sensors market on a global level, and provides estimates in terms of revenue (USD billion) from 2014 to 2020.
It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.
About TMR
TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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