“Global Pressure Sensors Market Report and Forecast 2022-2027”
The global pressure sensor market will be driven by growing demand for absolute pressure sensors during the forecast period 2022-2027
Expert Market Research’s new report titled “Global Pressure Sensors Market Size, Share, Price, Trends, Growth, Analysis, Industry, Report and Forecast 2022-2027”, gives an in-depth analysis of the global Pressure Sensors Market , assessing the market based on its segments such as type, technology, application and major regions.
The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 10.3%
The growth of the pressure sensor market is driven by the increased adoption of IoT (Internet of Things) solutions, which is a main element propelling the global demand. Pressure sensors are used in smart homes and other wearable devices like smartwatches and biosensors to help users measure their health, such as heart rate and oxygen levels. Also, rapid industrialization and technological growth, making the pressure sensor suitable for biomedical applications and wireless communication solutions, is driving the growth of the market.
Industry definition and major segments
Pressure is the force exerted on an area by a liquid or gas, which is measured by a pressure sensor. A pressure sensor has a pressure sensitive element used to determine pressure levels and then convert that information into an electrical signal. The type of pressure measurement, the detection principle applied and the output signal separate these instruments.
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Based on Type, the market can be broadly split into:
- Absolute pressure sensor
- Gauge pressure sensor
- Differential pressure sensor
The pressure sensor market can be broadly divided based on technology into:
- Resonant solid state
Market segmentation on the basis of application:
- oil and gas
- Consumer electronics
On the basis of region, the market can be divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
During the forecast period, expansion in the growing use of pressure sensors in home appliances such as refrigerators and washing machines. Additionally, the market is expected to grow as home automation and building automation technologies become more prevalent and there is a growing need to maintain the relative pressure level of ducts. Additionally, the growing number of smart homes is also supporting the growth of the pressure sensor market.
Main market players
The major market players are Honeywell International Inc., Emerson Electric Co., Sensata Technologies, Inc., BD|SENSORS GmbH, ChampionX Corporation and others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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* At Expert Market Research, we always strive to give you the latest information. The figures in the article are only indicative and may differ from the actual report.
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