Driven
by widespread expansion of the automotive industry, the global
pressure sensors market is poised to develop consistently at a 6.2%
CAGR between 2014 and 2020. A recent report published by Transparency
Market Research on the global pressure sensors market forecasts the
market to reach an estimated value of US$9.36 billion in 2020, up
from its valuation of US$6.53 billion in 2013. The report is titled
“Pressure Sensors Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2014 - 2020”.
Browse
the full Pressure Sensors Market Report at
http://www.transparencymarketresearch.com/pressure-sensor-market.html
The
report cites increasing production of motor vehicles as one of the
primary growth drivers of the global pressure sensors market.
Additionally, the industry has also hugely benefited from the latest
government regulations mandating the use of pressure sensors in
automobiles. Increasing adoption of technological advances such as
MEMS or microelectrochemical systems has played a crucial role in
boosting demand for pressure sensors. Furthermore, rapid urbanization
observed in Asia Pacific and the Middle East has also helped the
market chalk out a strong growth trajectory.
However,
consumers continue to remain apprehensive about the purchase of
pressure sensors owing to their high installation cost. The report
identifies this as a crucial bottleneck that manufacturers need to
address to ensure sustainable growth. Nevertheless, introduction of
technological advances will enhance the growth opportunities for the
market in the near future.On the basis of sensor technology, the
report classifies the global pressure sensor market into
electromagnetic, piezoresistive, capacitive, optical, and resonant
pressure sensors. Of these, the market for piezoresistive sensors was
valued at US$1.82 billion in 2014, which accounted for the lion’s
share of the market. The segment will continue to dominate the market
over the forecast period as well, according to the report.
Browse
the full Press Release :
http://www.transparencymarketresearch.com/pressrelease/pressure-sensors-market.htm
Among
the market segments based on application, the automotive sector led
the market in 2014 with an estimated value of US$1.69 billion. This
segment will continue to lead the market during the forecast period
as well, due to the boost in motor vehicle production around the
world. However, the report indicates that the consumer electronics
segment will register the fastest growth at a healthy 6.9% CAGR
during the forecast period. Geographically, Asia Pacific led the
global pressure sensors market in 2014 and the region will remain the
most lucrative market for pressure sensors during the forecast period
as well. Increasing production of motor vehicles in India, China,
Japan, and South Korea will significantly contribute to the expanding
pressure sensors market in Asia Pacific. The region will be closely
followed by North America and Europe, according to the findings of
the report.
Apart
from discussing the trends, drivers, bottlenecks, and opportunities
regarding the global pressure sensor market, the report also profiles
key market players to analyze the competitive landscape. Some of the
leading companies in the market profiled by the report are Freescale
Semiconductor Ltd., Emerson Process Management, Schneider Electric
SE, ABB Ltd, Analog Devices Inc., Omron Corporation, Honeywell
International Inc., Delphi Automotive PLC, STmicroelectronics N.V.,
and Robert Bosch GmbH.
Request
a Sample of this Report :
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2094
About
Us
Transparency
Market Research (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.
TMR’s
data repository is continuously updated and revised by a team of
research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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