(PRWEB) June 09, 2013
According to a new market research report “Pressure Sensor Market (2012 – 2017) - Global Forecast, Trend & Analysis – Segmentation by technology [Piezoresistive, Capacitive, Electromagnetic (Reluctance), Resonant Solid State, Optical], Applications [process and non process] and Geography”, The value of pressure sensor market was $5.11 billion in 2011 and is expected to reach $7.34 billion in 2017, at an estimated CAGR of 6.3% from 2012 to 2017. In terms of volume, the total number of pressure sensors shipped was 8.7 billion in 2011 and is expected to reach 16.37 billion units by 2017, at an estimated CAGR of 11.3% from 2012 to 2017.
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In the modern world, the need for pressure sensors is evolving and continuously growing. Today’s pressure sensors mainly utilize digital technology; which means they are better in efficiency and sensing performance. Pressure sensors have a significant place in different industry verticals. The major applications of pressure sensors are in petrochemical industry, automotive industry, consumer electronics industry, process industries, and healthcare.
The largest application segment for pressure sensors is the automotive segment due to their (automotives’) use in tyre pressure monitoring systems, engine management, and automatic transmission. The petrochemical and oil and gas segment follows as the second largest application segment for pressure sensors. In the medical industry, pressure sensors are used as low-cost disposable devices for catheters employed in surgical operations.
The demand for reliable, high performance and low cost sensors is increasing, leading to the development of new technologies like the Microtechnology and Nanotechnology offering opportunities like miniaturization, low power consumption, mass production, etc. MEMS pressure sensors have not been used much in the consumer electronics and mobile devices until now. Their major applications include HVAC sector, level measurements and various industrial processes and control applications.
Pressure sensors can vary drastically in technology, design, performance, application suitability and cost. A conservative estimate would be that there may be over 50 technologies and at least 300 companies making pressure sensors worldwide.
This report, based on the extensive research study on pressure sensor market, is aimed at identifying the entire market of pressure sensors for various applications, and all its sub-segments through extensively detailed classifications in terms of both - revenue and shipments.
It is focused on giving a bird’s eye-view of the complete market with regards to application of pressure sensors, with detailed market segmentations; combined with qualitative analysis at each and every aspect of the classifications done by type of pressure sensor, application, and geography. It also profiles more than 20 key pressure sensor manufacturers.
The report draws the competitive landscape of Pressure Sensor Market, providing an in-depth comparative analysis of the technological and marketing strategies the key players are adopting in order to gain an edge over the their competitors.
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