Force Sensors Market Volume Analysis, Segments, Value Share and Key Trends 2016-2026
Force Sensor Market: Drivers and Restraint
The global force sensor market is expected to witness substantial growth over the period of forecast. Technological advancement, low manufacturing cost, increasing product demand, rise in the demand of industrial robots, advancement of medical devices with force sensing technology, innovations and development in the manufacturing are the few factors encouraging the growth of global force sensor market.
On the other hand, factors which are restraining the global force sensor market are instability in the demand across various end-user industry and underdeveloped aftermarket sales channels.
Force Sensor Market: Segmentation
The global force sensor market can be segmented into type, application and region. On the basis of type, the global force sensor market can be segmented into, optical force sensor, piezoresistive force sensor, capacitive force sensor, magnetic force sensor, ultrasonic force sensor, strain gauges, and electrochemical force sensors
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Sensors has become an essential part of any measurement and automation applications. Overall global sensor market is witnessing a trend of increasing sensor accuracy, reliability, response time, efficiency, communication capability and robustness encourages the demand for sensors across various applications. On the basis of application, the global force sensor market can be segmented into, medical & pharmaceutical sector, automotive, printing & packaging, consumer electronics, industrial (robotic & manufacturing), and aerospace & defence. Key developments in the prominent industries such as medical & pharmaceuticals, robotics, aerospace & defence, manufacturing and others is expected to encourage the growth of global force sensor market by 2025. Force sensors are used in manufacturing tools, transportation equipment, microelectronic packaging, transportation equipment etc. Force sensors can also be used in wireless inventory management system to improve order scheduling which helps in avoiding inventory stock-out issue.
Force Sensor Market: Region wise outlook
On the basis of region, the global force sensor market can be seven regions which include – North America, Latin America, Asia-Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East & Africa. North America is dominating the global force sensor market due to high technological advancement and increasing adoption among various end-user applications. However, revenue contribution from Asia Pacific excluding Japan is expected to grow significantly over the forecast period.
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Force Sensor Market: Key Players
Key players in the global force sensor market are FUTEK Advanced Sensor Technology, Inc., OMRON Corporation, Texas Instruments Incorporated are the top players are global force sensor market. Apart from them, various other players are existing in market such as TE Connectivity Ltd., Tekscan, Inc., ATI Industrial Automation, and Sensata Technologies, Inc. Key players are focusing on development of new technologies and new product launch. Merger and acquisition is another activity observed in the market by the market participants to increase their product portfolio and to grow the business. The growth in global force sensor market is also due to growing awareness about the potential use of force sensors in different electronic devices by the original equipment manufacturers. For example, in August 2015, Apple, Inc. posted a patent report, “An Advanced Force Touch Patent for the iPad Surfaces in Europe” to develop techniques to integrate the force sensors into the iPhone and iPad.
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