A sensor is a device that measures the changes in physical quantity or environmental characteristics and converts them into signals, to serve as inputs for controlling devices. A pressure sensor, typically measures the pressure of gases and liquids. It usually acts as a transducer which generates signals as a function of the imposed pressure. Pressure sensors are very sensitive and highly reliable. 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 holding a promising future for pressure sensors and is expected to witness a growth rate higher than that of the overall parent market. The advancements in micro-electro-mechanical-systems (MEMS) technologies, which have resulted in reduction of the package size, cost, and weight of pressure sensors, are among the factors driving the global pressure sensor market.
The report analyzes the global pressure sensor market with respect to technology, application, and geography. The application segment of the global pressure sensor market is subdivided into automotive, medical, industrial segment, utility, consumer electronics, oil & gas, and others. The others application segment includes aviation and military & defense. Among applications, the automotive application segment led the global pressure sensor market in 2014 and accounted for a market share 28.9%. Geographies covered in this report are North America, South America, Europe, and Asia-Pacific.
The global pressure sensor market 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% from 2015 to 2020.
Some of the major players operating in the global pressure sensors market 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). Most of these companies have adopted strategies, such as mergers & acquisitions and partnerships, to strengthen their position in the global pressure sensor market.
