Pressure Sensor Market by Application (Automotive, Medical, Consumer Electronics, Others) worth 9.48 Billion USD by 2020

The report "Pressure Sensor Market by Technology (Piezoresistive, Capacitive, Electromagnetic, Others), Application (Automotive, Medical, Consumer Electronics, Others), & Geography (North America, South America, Europe, APAC, RoW) - Global Forecast to 2020", was valued at USD 6.7 Billion in 2014 and is expected to reach USD 9.48 Billion by 2020, at a CAGR of 5.9% during the forecast period, 2015 to 2020.

Browse 67 tables and 94 figures spread through 166 pages and in-depth TOC on "Pressure Sensor Market - Global Forecast to 2020"

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Globally, pressure sensor market is expected to witness steady growth owing to increased utility of pressure sensors in various industries. The major applications of pressure sensors are in the automotive industry, medical sector, industrial segment, utility, consumer electronics, and oil & gas industry. Of these, the automotive segment is one of the prominent segments, which holds a promising future for pressure sensors with growth rates higher than that of the overall parent market. The demand for pressure sensors is expected to increase in the automotive industry owing to their growing usage in oil pressure monitoring, fuel pressure monitoring, nitrous pressure monitoring, transmission pressure monitoring, and tire pressure monitoring. Additionally, pressure sensors are also used in the airbag systems of vehicles.

The report on the global pressure sensor market has been segmented on the basis of technology, application, and geography. The report analyzes competitive developments, such as alliances, joint ventures, and mergers & acquisitions in the global market. The major drivers for the growth of this market are increased demand for pressure sensors from the automotive industry as they have great applicability in the industry. Automotive companies use pressure sensors to measure oil pressure, fuel pressure, nitrous pressure, transmission pressure, and tire pressure. Additionally, pressure sensors are also used in airbag systems for safety purposes. Another important factor driving the global market is the increase in the number of advancements taking place in micro-electro-mechanical-systems (MEMS) technologies. The continuous advancements in MEMS technologies have resulted not only in the reduction of package size for pressure sensors but have also led to reduction in their cost and weight.

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Another major factor driving the global pressure sensor market is the stringent implementation of various government regulations to ensure safety of the passengers in the vehicles. Governments all over the world are mandating various acts to ensure safety of passengers in the automobiles. For instance,  the TREAD Act in the U.S. has made installation of TPMS (Tire Pressure Monitoring System) mandatory in all types of vehicles  so as to warn the driver about the under inflation of vehicle, within 20 minutes of its detection. Similarly, on November 1, 2012, the European Union issued instructions that all new passenger car models (M1) released, must be equipped with a TPMS. These safety regulations have provided an impetus to the growth of the global pressure sensor market. Currently, the global pressure sensor market is dominated by various market players, such as Honeywell International, Inc. (U.S.), Freescale Semiconductor, Inc. (U.S.) and Measurement Specialties, Inc. (U.S.).

The global pressure sensor market is expected to witness substantial growth in the coming years. There is increasing adoption of pressure sensors in various sectors, such as automotive, medical, industrial segment, utility, consumer electronics, oil & gas, military & defense, and aviation. The automotive and medical segments are the leading application segments, which together held more than 45% share in the global pressure sensor market in 2014.

The research study is aimed at identifying emerging trends and opportunities in the global pressure sensor market along with detailed classifications, in terms of revenue and volume. The report provides comprehensive competitive landscapes and identifies the key players with respect to market size and market share. The research study also includes a detailed segmentation of the global pressure sensor market, on the basis of application, technology, and geography.

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Apart from the market segmentation, this report also makes use of the Porter’s Five Forces Analysis, which provides an in-depth analysis of the market providing a detailed process flow diagram and market dynamics, such as drivers, restraints, and opportunities in the global pressure sensor market.

This report profiles the key companies operational in the global pressure sensor market, which include Honeywell International, Inc. (U.S.), Measurement Specialties, Inc. (U.S.), Freescale Semiconductor, Inc. (U.S.), Robert Bosch GmbH (Germany), The Emerson Electric Company (U.S.), ABB Ltd. (Switzerland), Denso Corporation (Japan), General Electric (U.S.), OMRON Corporation (Japan), and STMicroelectronics N.V. (Switzerland).

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